Profile cover photo
Profile photo
PowerSwitch.com
2 followers -
The cheapest business and home energy prices guaranteed!
The cheapest business and home energy prices guaranteed!

2 followers
About
Posts

Post has attachment
Domestic Energy Switching At All Time High.

Nearly five million house owners switched their electricity and gas supplier last year. That's up 26% on 2015 switches
4.8 million domestic consumers changed electricity supplier in 2016, which is almost a million more than in 2015.
In December switches 449,921 transfers were recorded, an increase of 33% compared with December 2015 and of those some 22% moved to an independent supplier rather than one of the 'big six' brands like British Gas.
The figures have continued to increase over the past two years as consumer advice groups and the government continue to promote the advantages of switching.

Despite the seeming good news Ofgem figures sugeest three quarters of British Gas customers are still supplied on the company's most expensive tariff and could save an average of £174 by switching, while a whopping 91% of SSE's customers equivalent to 3.8 million houses in the UK still remain on their most expensive tariff.

In fact Ofgem have stated that approximately 66% of all households remain on standard variable tariffs, which are more expensive than fixed price or fixed term deals.

The CMA announced last month that suppliers will be required to provide Ofgem with information to help households and micro businesses on more costly terms to switch to a better deal. All suppliers and all tariffs can be compared even without a copy bill on websites such as www.powerswitch.com The savings are about £300 a year and it takes just 5 minutes to switch with no specialist knowledge required.

Post has attachment
Competition & Markets Authority publishes key findings on UK Energy Market
June 24, 2016
..some key points:

In the retail markets, the last few years have seen a sustained period of growth for new entrant suppliers outside of the Six Large Energy Firms, and their combined market share now stands at around 13% in both gas and electricity - the highest level reached since liberalisation.

..our survey results suggest that those who are on low incomes are far less likely to have engaged than those on high incomes, which undermines the argument that most customers do not take up available savings because they are not significant enough. Some categories of customer – for example, those who do not have access to the internet, those who are on particular types of restricted meter, and prepayment customers – experience specific, material difficulties in shopping around and switching. However, for the majority of domestic customers, shopping around and switching is relatively easy - yet many of these customers have never considered engaging, either because it has not occurred to them or because they think it will be too much hassle. Low customer engagement 9. We have found that large numbers of domestic customers do not engage in retail energy markets by shopping around or switching supplier. In our survey of 7,000 domestic customers, 34% of respondents said they had never considered switching supplier and 56% said they had never switched supplier, did not know if it was possible or did not know if they had done so. 10. Reflecting this widespread lack of engagement, around 70% of the customers of the Six Large Energy Firms currently pay the Standard Variable Tariff (SVT), which is the default tariff (ie the tariff customers pay if they have not made an active choice), despite the fact that SVTs are much more expensive than alternative tariffs. For example, the dual fuel SVT customers of the Six Large Energy Firms (excluding prepayment customers, who, as noted below, have a very restricted range of tariffs) could have made average annual savings of around £330 in mid- 2015 if they had switched to another supplier.
Photo

Post has attachment
Brexit sends energy prices into chaos
Energy prices in chaos due to Brexit

We've just seen the lowest energy prices for ten years but prices are starting to rise after today's shock news.

If your energy contracts are due for renewal in the next 6 months we recommend locking in a longer term deal

Protect your business from the market turmoil

Pre-book your energy contract prices for start dates up to 6 months from now.

or call the business team on 01259 225406

Home owners now might be the time to choose a fixed term deal too

or call the home energy team on 0800 410 1260

PowerSwitch.com, compare ALL supplier rates and switch to the best in just 5 minutes
Photo

Post has attachment
Sharp Increase In UK Business Energy Prices
April 27, 2016
This week has seen continued sharp increases in the wholesale cost of Gas & Power resulting in widespread withdrawal of both Corporate and SME prices. Since last Monday Annual Gas prices have increased 18% and Power 11%.
These increases have been supported by an increase in Oil prices and colder than seasonal norm temperatures. There have also been a number of Gas outages which is compounding the issue and feeding in to the forward curve. Withdrawals have been made from Rough storage at a time of the year when we may have been injecting in to storage.

Within the Power market there have also been a number of outages; this combined with colder temperatures and lower output for Wind generators has caused upward pressure on prices.
Photo

Post has attachment
Scottish Power Fined 18 Million Pounds
April 26, 2016
Scottish Power has been fined £18m for poor customer service issues.
Ofgem say the firm failed to treat its customers fairly, with inadequate call handling, complaint resolution and billing. Some 300,000 customers received late bills. 
The £18m will be paid to vulnerable customers and charity.
Ofgem said Scottish Power had improved its customer service and co-operated during the investigation but the penalty is the third-largest imposed by the regulator. It comes just months after Npower was ordered to pay £26m for sending out inaccurate bills and failing to deal with complaints correctly
Ofgem chief executive Dermot Nolan said: "Scottish Power let its customers down during the implementation of a new IT system. When things went wrong, it didn't act quickly enough to fix them. This created frustration and worry for many customers, who also wasted a lot of time trying to contact the supplier by phone.
"The £18m payment sends a strong message to all energy companies about the importance of treating consumers well at all times, including while new systems are put in place."
Neil Clitheroe, Scottish Power's head of energy retail and generation, said: "Scottish Power has worked with Ofgem throughout this investigation. We apologise unreservedly to those customers affected.
"In order to upgrade our old IT systems, we invested £200m on new technology to allow us to deliver smarter digital products and services to benefit our customers.
"During the complex transition between systems we encountered a range of technical issues. This led to an unacceptable increase in complaints and reduced the quality of our customer service.
"I gave a guarantee that no customer would be left out of pocket by these issues and we continue to compensate customers who have been affected."
Ofgem said that Scottish Power had improved its customer service since its investigation had begun.
It said the average call waiting time, the rate of abandoned calls and the number of Ombudsman cases had all more than halved. In addition, the number of late bills had fallen by three-quarters.
Photo

Post has attachment
Home Improvement Quotes Now Online
March 30, 2016
Are you looking for price comparisons and quotes on anything from new windows to a new heating system for your home? We're pleased to announce we've created a new section in the website where you can get instant quotes and prices from trusted providers across the UK without having to search endlessly from website to website. More info at https://powerswitch.squarespace.com/home-improvement-quotes
Photo

Post has attachment
The number of houses switching their energy provider in Great Britain rose by 15% in 2015, Ofgem confirmed that 6.1m gas and electricity accounts had switched supplier or tariff during the year; that's about 800,000 more than in the previous year.

"It's encouraging to see switching levels at their highest level for four years," said Ofgem's Rachel Fletcher.

The big six energy companies have all cut prices for their gas customers this year by at least 5.1%, but there have been no reductions to electricity tariffs. However independent suppliers like GB Energy continue to undercut the major brands in the market.
The average saving for householders using PowerSwitch.com has been £364 a year based on switches made in 2016.
For 10% of people, they were saving as much as £567 a year. Compare supplier and switch online in 5 minutes at http://www.energylinx.co.uk/e2c/powerswitch/
Photo

Post has attachment

Post has attachment
Scottish Power Business Energy Prices Drop 6%

For electricity sales, the standing charge has been reduced and set at 25p per day across all PES areas.

The gas prices have also reduced;

    1 year contracts will decrease for an average customer by 5.7%
    2 year contracts will decrease for an average customer by 6.1%

The above however, are based on a mains gas customer using 30,000kwh per annum and paying by monthly direct debit.
Photo

Wholesale Energy Prices Lowest for Five Years
January 14, 2016
Wholesale energy in the UK have dropped to a five-year low point.

The main drivers have been a mild winter and lower global commodity prices like Oil.

Pressure is now mounting on the UK's big six energy suppliers to cut their prices to reflect the lower wholesale costs in the market

The wholesale price for gas fell by 34% over 2015, while the price for electricity fell by 23%.

We're seeing some of the lowest business energy retail prices since 2007 on our website but the residential suppliers have lagged behind so far.
Wait while more posts are being loaded