February 28, 2006
As a direct result of rising wholesale costs, Powergen has today announced that its domestic gas and electricity prices are being increased by 24.4% and 18.4% respectively.
Powergen joins the likes of British Gas, EDF Energy and ScottishPower who have announced domestic energy price increases during 2006.
2006 has already been a difficult year for all energy suppliers and already this year we have seen two domestic suppliers cease trading, Zest4 and Basic Power.
Energylinx is not surprised by this latest increase and although not welcome it is a reflection of how the wholesale energy market is faring.
February 23, 2006
Powergen has today launched a new capped price domestic energy tariff where energy prices are capped until 1st March 2010.
The tariff is available to either dual fuel customers or electricity only customers and is available from Energylinx now.
This new capped price tariff is now the longest available in the UK domestic energy market and Energylinx would encourage those looking for a long term position on their domestic energy to consider this tariff.
February 17, 2006
Against a backdrop of unprecedented increases in the wholesale cost of energy, caused in part by anticompetitive practices in Europe, Centrica plc is today announcing a change to its British Gas tariffs for domestic gas and electricity customers.
The cost of buying gas for 2006 is now 63% higher than in 2005 and some 202% higher than 2003(1). Wholesale gas prices in Britain are now the highest in Europe, yet consumers here still pay substantially less than in many European countries including Germany, France and Italy, where prices are also rising sharply (2).
February 15, 2006
Due to soaring wholesale costs, EDF Energy are to increase their gas and electricity prices across all their brands; EDF Energy, London Energy, Seeboard Energy and SWEB Energy from 13 March 2006. Energylinx, the UK's largest specialist energy price comparison is already displaying the new prices and further analysis of these latest gas and electricity price increases is provided below.
Wholesale gas and electricity costs have risen by 100% and 90% respectively since January 2005. Additionally, carbon prices have risen by 380% over the same period.
EDF Energy currently have over 300,000 customers on capped or fixed rates will not be affected by today's announcement. They are protected from further rises until 2007 and 2008 respectively.
In parallel with these latest increases EDF Energy have launched a new fixed price tariff until 2008 to provide further protection for their domestic customers. This tariff is available to the first 100,000 new and existing customers who register before 30th June 2006.
February 6, 2006
* Over 10 million domestic customers are losing out on over £1 billion by not switching supplier
* Competition alive and well in the energy market despite recent price increases
* 300,000 gas and electricity customers changing supplier each month
Customers who have never switched energy supplier are losing out on savings of over £1 billion, according to energy regulator Ofgem.
Despite recent rises in energy bills, research published today by Ofgem shows that competition is still vigorous. While all suppliers have increased their prices over the last two years there are still significant differences in the prices charged by the different firms. This means that customers who have never switched can still save around £100. Other signs that competition is alive and well include:
February 6, 2006
With immediate affect all existing energy customers of Zest4 are being transferred to British Gas.
On the afternoon of 3rd February Zest4 advised OFGEM that it was no longer able to meet its debts and that the court had made an administration order under section 8 of the Insolvency Act 1986.
AS a result OFGEM has appointed British Gas Trading as the supplier of last resort (SoLR) for all existing energy customers of Zest4.
February 2, 2006
As of the 17th January, all of Basic Power's domestic and business energy customers have been transferred to London Energy.
Basic Power one of the smaller competitive electricity suppliers were trading using Utility Link's Supply Licence and as a result of Utility Link going into administration all of their customers have been transferred to London Energy.