Welcome!

News Feed Item

Energy Bill Payers Stretched to Limit but Taking Action

CHESTER, England, October 11, 2012 /PRNewswire/ --

  • More than half of Brits said SSE price hike made them think about switching
  • A third say a rise in monthly outgoings of £50 or less would push them to financial breaking point

British bill payers have been sparked into action to combat the rising cost of energy.  Scottish and Southern Energy (SSE) threw down the gauntlet in August, being the first of the 'Big Six' to hike its gas and electricity prices and with speculation there may be price rises from other providers, people are fighting back, says MoneySupermarket.com.

Britain's number one comparison site conducted a poll of almost 1,700 site users on their reaction to the price hike. Over half (52 per cent) said they would look to switch to a cheaper energy tariff. Of those, 28 per cent had already applied for a new tariff, 11 per cent planned to do so within a week, while another 13 per cent said they would switch providers at some point. Typical savings by using MoneySupermarket to change energy products is £200 - a tidy sum, especially as a tenth of those polled said they aren't tempted to switch to a cheaper deal as they don't think the savings are worth it.

Scott Byrom, Energy channel manager at MoneySupermarket.com  said: "It's a bleak outlook for those already stretched to their affordability tipping point by rising household bills. SSE is the only provider to show its hand so far, but unfortunately a round of price hikes now would mean bills increase just in time for the more costly winter months when energy usage is at its highest. Worryingly over a third of the UK adult population (36 per cent) believe a rise in monthly outgoings of £50 or less would push them to financial breaking point. Of these, one in five say they are now sitting on the brink, finding it impossible to meet their monthly bills and costs**. The recent increases to energy bills are certainly going to push some people very close to the limit of what they can afford.

"Anyone hoping to keep their energy bills low in a turbulent energy market should opt for the best value fixed price tariff, currently offered by OVO Energy. Its New Energy Plan product costs £1,088 a year on average with prices fixed for 12 months from your start date. This tariff isn't available in the Scottish Hydro region however, the cheapest provider in this region is SSE. Its Fixed Discount tariff costs £1,149.71 on average with prices fixed until April 2014. While we have not yet hit winter in earnest, the longer, colder nights are certainly drawing in so customers languishing on their provider's standard tariff should act now to ensure they switch onto the best deal in time."

Notes to Editors:

Average, standard and fixed tariffs:

                                                                                 Average
                    Average                                                      Saving
                   Standard                                                     Fixed vs
      Provider      Tariff          Online Tariffs       Fixed Tariff           Standard

    British Gas    GBP1,240.07      GBP1,120.29          GBP1,299.10          -GBP59.03
                                    Online Variable       Fixed Price
                                      August 2013           May 2014

    EDF Energy     GBP1,202.38      N/A                  GBP1,143.34           GBP59.04
                                                       Blue+ Price Promise 
                                                            May 2014 
 
    E.ON           GBP1,222.65      GBP1,123.71          GBP1,158.74           GBP63.91
                                    Energy Discount       Fixed 1 Year

    npower         GBP1,243.48      GBP1,071.71          GBP1,157.00           GBP171.77
                                     Energy Online           Go Fix
                                      January 2014        January 2014
    Scottish
    Power          GBP1,349.42             N/A           GBP1,139.98           GBP209.44
                                                       Online Fixed Price
                                                       Energy (April 2014)

    SSE            GBP1,354.20             N/A           GBP1,262.20           GBP92.00
                     (wef                                Fixed Discount
                   15.10.2012)                            December 2014

    First Utility  N/A               GBP1,127.92         N/A                   -
                                       iSave v11

    OVO Energy     N/A                                   GBP1,088.00           -
                                                        New energy fixed
                                                    (not available in
                                                     Scottish Hydro region)

    Average       GBP1,251.60        GBP1,110.91         GBP1,181.89           GBP89.52


Sourced by http://www.moneysupermarket.com 09.10.2012

* Will the latest energy price hike prompt you to switch to a cheaper deal?

Yes - I have already applied for a new tariff - 27.7%

Yes - I plan to do so in the next week - 11.2%

Yes - I will at some point - 12.6%

No - I'm tied in to my current tariff - 22.1%

No - It's too much hassle - 9.3%

No - The savings aren't worth it - 10.2%

I don't know - 6.9%

Total votes: 1685

** Research conducted by Opinium Research between 13th - 16th July 2012 amongst 2,011 nationally representative adults aged 18+.

Price rises announced by UK energy companies Summer 2011

                                 Electricity Average
                    Gas increase increase    Standard    Date       Date
    Provider        (%)          (%)         tariff      announced  effective
    Scottish Power  19           10          GBP1,391.21 07/06/2011 01/08/2011
    British Gas     18           16          GBP1,286.04 08/07/2011 18/08/2011
    Scottish and
    Southern        18           11          GBP1,265.00 21/07/2011 14/09/2011
    E.ON            18           11.4        GBP1,254.55 05/08/2011 13/09/2011
    npower          16           7.2         GBP1,289.00 16/08/2011 01/10/2011
    EDF Energy      15.4         4.5         GBP1,241.00 15/09/2011 10/11/2011
    Average         17.4         10          GBP1,287.80


Price decreases announced by UK energy companies January 2012

                      Gas     Electricity   Average
                    decrease   decrease    Standard     Date
       Provider       (%)         (%)       tariff    announced Date effective
                                                        12th
    British Gas       N/A         5%      GBP1,260.56  January   Immediately
                                                        11th
    EDF Energy         5%         N/A     GBP1,202.38  January   7th February
                                                        16th
    E.ON              N/A         6%      GBP1,222.65  January  27th February
                                                        13th
    npower             5%         N/A     GBP1,243.48  January   1st February
    Scottish and                                        12th
    Southern          4.5%        N/A     GBP1,229.95  January    26th March
    Scottish Power                        GBP1,391.21
    Average           4.8%       5.5%     GBP1,258.37


Price rises announced by UK energy companies Summer 2012

                                            Average
               Gas increase  Electricity    Standard    Date       Date
    Provider   (%)           increase (%)   tariff      announced  effective
    SSE        9             9              GBP1,354.20 22/08/2012 15/10/2012
    Average    9             9              GBP1,354.20


MoneySupermarket.com compares (at 30th Aug 2012)

  • 107 car insurance providers and 82 home insurance providers
  • 12 broadband providers and 18 energy providers   
  • 32 unsecured loan and 6 secured loan providers
  • 62 mortgage lenders and 28 credit card providers
  • 66 savings providers and 37 current account providers.
  • Over 1,200,000 mobile phone deals

Our customers

We help our customers to save money on all of their household bills by providing a free, easy to use online service so they can compare a wide range of products in one place and find the product most suited to their needs. Our size means we are able to offer our customers exclusive, market-leading deals, including some they can't even get direct from providers.

Our providers

By having considerable volumes of informed customers actively looking for products and ready to purchase, we offer our providers an efficient and cost effective customer acquisition solution across all of our channels. This enables our providers to target their marketing spend in an effective and completely measurable way.

Our revenue comes predominantly from fees paid to us by product providers when a customer clicks through to their website and actually applies for or purchases a product. It is a success based marketing fee.

Our customer commitment

  • We make it easy to find the brands you expect to see
  • We strive to ensure a product cannot be found cheaper by going direct
  • We let you remain in control of your personal data
  • We are independent and impartial
  • We make it easy to switch and save
  • We strive to always show the most competitive product available

For further information, please contact: 
Paul Lawler / Kate Murphy, +44(0)787-237-9545 / +44(0)1244-221978, [email protected]  / [email protected]



More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
As pervasive as cloud technology is -- and as persuasive as the arguments are for using it -- the cloud has its limits. Some companies will always have security concerns about storing data in the cloud and certain high-transaction applications will always be better suited for on-premises storage. Those statements were among the bottom-line takeaways delivered at Cloud Expo this week, a three day, bi-annual event focused on cloud technologies, adoption and associated challenges.
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deli...
Quickly find the root cause of complex database problems slowing down your applications. Up to 88% of all application performance issues are related to the database. DPA’s unique response time analysis shows you exactly what needs fixing - in four clicks or less. Optimize performance anywhere. Database Performance Analyzer monitors on-premises, on VMware®, and in the Cloud, including Amazon® AWS and Azure™ virtual machines.
SYS-CON Events announced today that Grape Up will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct. 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company specializing in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the U.S. and Europe, Grape Up works with a variety of customers from emergi...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Translating agile methodology into real-world best practices within the modern software factory has driven widespread DevOps adoption, yet much work remains to expand workflows and tooling across the enterprise. As models evolve from pockets of experimentation into wholescale organizational reinvention, practitioners find themselves challenged to incorporate the culture and architecture necessary to support DevOps at scale. In his session at @DevOpsSummit at 20th Cloud Expo, Anand Akela, Senior...
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in compute, storage and networking technologies, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/...
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
Amazon has gradually rolled out parts of its IoT offerings in the last year, but these are just the tip of the iceberg. In addition to optimizing their back-end AWS offerings, Amazon is laying the ground work to be a major force in IoT – especially in the connected home and office. Amazon is extending its reach by building on its dominant Cloud IoT platform, its Dash Button strategy, recently announced Replenishment Services, the Echo/Alexa voice recognition control platform, the 6-7 strategic...
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Judith Hurwitz is president and CEO of Hurwitz & Associates, a Needham, Mass., research and consulting firm focused on emerging technology, including big data, cognitive computing and governance. She is co-author of the book Cognitive Computing and Big Data Analytics, published in 2015. Her Cloud Expo session, "What Is the Business Imperative for Cognitive Computing?" is scheduled for Wednesday, June 8, at 8:40 a.m. In it, she puts cognitive computing into perspective with its value to the busin...
SYS-CON Events announced today that Hitachi, the leading provider the Internet of Things and Digital Transformation, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd., offers an integrated portfolio of services and solutions that enable digital transformation through enhanced data management, governance, mobility and analytics. We help globa...
Blockchain is a shared, secure record of exchange that establishes trust, accountability and transparency across supply chain networks. Supported by the Linux Foundation's open source, open-standards based Hyperledger Project, Blockchain has the potential to improve regulatory compliance, reduce cost and time for product recall as well as advance trade. Are you curious about Blockchain and how it can provide you with new opportunities for innovation and growth? In her session at 20th Cloud Exp...
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...