Energy costs for home

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Finally. A couple of weeks ago there was an article in the Sunday Times newspaper where the owner of Octopus energy stated that he was still using energy that he purchased two years ago. If correct then Octopus customers are being ripped off as he is charging a far higher price for their energy than he paid for it.
Ofgem should be demanding that all the electricity and gas billing companies state when they purchased their gas and electricity and what price they paid for it.

Surely they have to charge the going rate regardless of when the energy was procured? Otherwise they can't afford market price to replenish resulting ultimately in them running out - that helps nobody.

[islaydarkblue]

Surely they have to charge the going rate regardless of when the energy was procured? Otherwise they can't afford market price to replenish resulting ultimately in them running out - that helps nobody.

So you are happy to pay 26p per unit for your electricity which has previously been purchased by electricity billing companies like Octopus for half the price namely 13p per unit.

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So you are happy to pay 26p per unit for your electricity which has previously been purchased by electricity billing companies like Octopus for half the price namely 13p per unit.

Not really but I don't want my provider to turn round six months from now and say they're out of business because they haven't been able to replenish stocks.

Exactly the same happens when diesel and petrol prices go up - barrel price goes up by $X.xx the pump prices don't follow when stocks have been depleted do they? They go up at the same time because if the retailer runs the tanks down to zero the customer goes elsewhere when they close the gates and put the 'no fuel' signs up. Then they don't have enough cash to buy the next delivery.

Do supermarkets put the price of existing stock up when suppliers tell them the next batch is going to be 10p more expensive when they order it? Too right they do, they need that money to afford the next batch.

It's not rocket science Islay.

[islaydarkblue]

Not really but I don't want my provider to turn round six months from now and say they're out of business because they haven't been able to replenish stocks.

Exactly the same happens when diesel and petrol prices go up - barrel price goes up by $X.xx the pump prices don't follow when stocks have been depleted do they? They go up at the same time because if the retailer runs the tanks down to zero the customer goes elsewhere when they close the gates and put the 'no fuel' signs up. Then they don't have enough cash to buy the next delivery.

Do supermarkets put the price of existing stock up when suppliers tell them the next batch is going to be 10p more expensive when they order it? Too right they do, they need that money to afford the next batch.

It's not rocket science Islay.

If your electricity billing company goes bust then your account will be taken on by another electricity billing company.

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If your electricity billing company goes bust then your account will be taken on by another electricity billing company.

Until they all go bust bar maybe two three of the very biggest. What do you think that would do to prices?

[The AuldYin]

So you are happy to pay 26p per unit for your electricity which has previously been purchased by electricity billing companies like Octopus for half the price namely 13p per unit.

I buy and sell at a profit every day is that not the point of being in business?