Electricity Prices

Haven Power it seems have taken an Autumnal leaf out of the fashion industry’s book lately. They have taken the view that if you continue offering the same product year after year, season after season, interest can stagnate and relying on the simple core demand for your product is not sufficient in what is becoming a much less straightforward energy marketplace. So, as we head into Winter, Haven are announcing a whole new line of products that they are enthusiastically parading down the proverbial catwalk of the UK business energy marketplace.
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The usual problems that consumers face when are dealing with suppliers are: Lack of clarity on tariff structures and bills: inaccurate meter readings; lack of communication regarded to contract rollover and renewal letters; complicated paperwork and procedures that the consumer does not understand. Ofgem have reported that one of the most significant factors affecting the way suppliers behave is the fact that ‘The Big Six’ control the majority of energy supply and associated contracts in the UK domestic and non-domestic energy market. The Big Six are of course, British Gas (20 million business and domestic customers), EDF Energy (5.7 million domestic customers), E.ON (5.3 million customers), npower (6.5 million business and domestic customers), Scottish Power (5.2 million customers), SSE (9.6 million customers). Unfortunately there is no end in sight to this unhealthy oligopoly but there are ways of ensuring that your own dealings with these companies ensure you have the maximum choice and opportunities to save money. continue

Mark Johnson, a director of Torse Ltd, is interviewed by Maria Loreto Urbina regarding the current energy market in the UK with regards to pricing fluctuation, long term contracts and advice for existing and new clients wishing to renew their energy contracts

Video Content

Here is a brief summary of issues discussed

• 0:00 > 2:00 | Current energy prices and predicting the future
• 2:00 > 3:30 | The key players and energy company behaviour
• 3:30 > 4:20 | How Torse finds the best deal, advises and provides informed quotes
• 4:38 > 6:10 | Safe advise and secure deals with, ideally, fixed term contracts
• 6:10 > 7:45 | Negotiating with suppliers and serving notice in advance of renewal
• 7:45 > 8:40 | If left too late or contracts are not correctly established things can get more expensive
• 8:40 > 9:46 | Clients could complete contract process but requires considerable experience / time
• 9:46 > 10:37 | Clients sometimes compare to old prices
• 10:37 > 11:46  | If you delay the contract process and wait for best price, you could lose any savings

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What is E.on up to at the moment in the SME commercial energy market? Is there something sinister about E.on’s current behaviour? What’s it all about?

Over recent months E.on’s SME division have been sending out documentation to Brokers, Consultancies and sales agencies for signature relating to a ‘Code of Practice’ and a new ‘updated E.on contract’. Despite the increased efforts of Ofgem and the government to improve market liquidity [Big 6 forced to sell 25% of generation on wholesale market], some energy companies are still making efforts to erode the independent status of third parties; is this to be considered anti-competitive behaviour?

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