Thread: Petition to reel in energy companies.

Done, although 'gov' will likey say that there is a regulator already - Ofgem. They've just fined National Grid £42m for unfair practices.

Think that you need to re-word your petition a little to be clear as to what it is you'd like big gov to do. I'd suggest that they place a reasonable cap on domestic prices, whilst not stifling competition within the energy markets.

Hi

Petition signed- good luck!

The following is slightly off your original post but gives a further insight and might be useful information.

Proving that the utilities are acting in collusion will be exceptionally difficult, not to say I would not like to see it happen. People sometimes have the choice of eating or heating. It is a severe problem and must rise up the political agenda.

You might be interested in a related item on Fuel Poverty Vouchers which was on the BBC today

BBC NEWS | Business | UK mulling fuel poverty voucher

I also know that some of the fuel poverty Charities eg Energy Action Scotland are campaigning for the increased element in VAT which has acrued as result of the increase in fuel prices to be set aside for action on fuel poverty.

From April, the amount of money the power utilities must devote to domestic fuel reduction will double. OFGEM have set strict targets for them to achieve. This is called CERT (Carbon Emission Reduction Target). This is money that will be used to insulate the homes of fuel poor and may also be used to fund micro renewables in fuel poor homes. British Gas currently have a free insulation offer for the over 70's, inc energy advice, loft and cavity insulation, etc.

This article might also be of interest

BBC NEWS | Business | High energy prices must be investigated

I can tell you now what the government will say is there investing in that area it will take time. There already investing there putting money into renewable energy resources the latest one being the SeaGen turbine.
The economy is slowing and we will be in for a rough ride.

That is what they will say don't go to the government go to a regulator. Complain about specifics i promise you it will get on their nerves.

I'm not so sure what the solution is, on one discussion somewhere I saw someone pointing out that British Gas only made £43 per customer - not a huge amount of money.

It is not so much the rises that I find distastful as the way they handle them. E-on has been making a big deal of its offer to fix prices for three years but, there's precious little information regarding if prices are going to come back down.

Does anybody have any expertise in this area? Can we expect prices to keep rising due to increased worldwide demand?

Hi there, how's things?

Part of my past work and current work has involved LA Home Energy Conservation, combatting fuel poverty, attracting funding from utilities for insulation etc and related policy work on Home Energy Ratings, housing investment.

These fixed price deals can be good for some people at least it gives a safeguard on prices over a fixed period of time. The details of the contract need to be considered carefully however, as their will be conditions ie no sudden upsurge in useage. When these deals first started lots of folk turned their heating up, left the immerser on, opened their windows, did their neighbours washing etc! The power comany didn't get caught out again.

Prices are only going to increase, probably beyond our wildest expectations. The government will over the next year announce that they will not meet fuel poverty reduction targets, purely because of increases in fuel prices. Not going in to it in too much depth, future increases are due in part to-

• reducing oil supply over longer term from currently accessible resources
• increased costs to get oil from more difficult areas eg Atlantic. Our own supply also runs out shortly
• Major increases in demand from developing countries- principally India and China at moment, which will see sharp increases in price.
• Political disputes eg Middle East, reluctance to be dependent on these and other sources eg Russia
• costs of nuclear power set up, government will need to assist in their set up costs. Cost of replacing other current power stations. Coal is even being used again now.
• Cost of speculation on oil and fuel price on world stock markets
• concerns over climate warming, disincentive- tax rises
• oil companies seeking higher profits to invest in new technologies for their future

Even the introduction of large scale renewables won't see a reduction in prices, unforunately.

Hope that was not too gloomy.

Whats behind power price rises?

Q&A BBC feb 2007:

BBC NEWS | Business | Q&A: What's behind power price rise?