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Electricity total rip off wake up people!!!

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    #32
    scanlanavia
    Registered Users Posts: 112 ✭✭scanlanavia


    Given that Centrica dropped gas pricesbin UK for British Gas by 5% and Scottish Power followed today with 4.8%, logically this means Centrica Ireland (aka Bord Gais) and irish energy regulators will look into it... and in 6 months probably reduce Gais by 1.8%..... wouldn't that be a typical likelihood.

    So Of Course, Energy prices here are well above what they should be. Energy Cartel are all earning obscene profits from hard pressed consumers and business.
    Government has vested interest in high energy prices thereby maximising related VAT, Pso and carbon taxes... So explains why they arent too bothered.

    lower energy costs surely results in lower costs to business and households.... but that view flies in the face of successive government policy who prefer to cuddle up with the cosy energy cartel


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    #33
    keithclancy
    Registered Users Posts: 9,222 ✭✭✭keithclancy


    scanlanavia wrote: »
    Given that Centrica dropped gas pricesbin UK for British Gas by 5% and Scottish Power followed today with 4.8%, logically this means Centrica Ireland (aka Bord Gais) and irish energy regulators will look into it... and in 6 months probably reduce Gais by 1.8%..... wouldn't that be a typical likelihood.

    So Of Course, Energy prices here are well above what they should be. Energy Cartel are all earning obscene profits from hard pressed consumers and business.
    Government has vested interest in high energy prices thereby maximising related VAT, Pso and carbon taxes... So explains why they arent too bothered.

    lower energy costs surely results in lower costs to business and households.... but that view flies in the face of successive government policy who prefer to cuddle up with the cosy energy cartel

    http://www.express.co.uk/news/uk/552806/UK-gas-bills-soar-plummet-Europe


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    #34
    SoapMcTavish
    Registered Users Posts: 461 ✭✭SoapMcTavish


    Luke92 wrote: »
    Just recently watched that episode and that made me lol so much!

    I reckon you save over 200 pounds a year!

    Episode of what ?


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    #35
    delahuntv
    Closed Accounts Posts: 1,532 ✭✭✭delahuntv


    scanlanavia wrote: »
    Given that Centrica dropped gas pricesbin UK for British Gas by 5% and Scottish Power followed today with 4.8%, logically this means Centrica Ireland (aka Bord Gais) and irish energy regulators will look into it... and in 6 months probably reduce Gais by 1.8%..... wouldn't that be a typical likelihood.

    Current new reduced standard rate for British Gas = 6.82c (5.26p)

    Current standard rate for Bord Gais Energy = 6.1c

    Up to 12% discounts available off standard rate of Bord Gais too.

    Electricity in UK is also av. 20c per kwh - that's substantially higher than rates here.

    The Brits will have to drop another 15% to get to current Irish prices.


    For consumers here - if you are not on a discount, you deserve a slap - takes 2 minutes to switch, and then put a reminder in your phone fo this time next year to switch again.


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    #36
    Tony EH
    Registered Users Posts: 18,925 ✭✭✭✭Tony EH


    CJmasgrande wrote: »
    It's amazing the way we all kick up over the water rates yet they cost a drop in the ocean compared to what we are being fleeced for power and nobody says boo

    It's too fücking late to do anything about the electricity prices, the shower that run it, or the toothless regulator that gives in to their every demand for a price hike.

    THAT'S WHY PEOPLE ARE KICKING UP ABOUT NEW WATER CHARGES AND A NEW QUANGO TO EXTORT THE MONEY FROM US.


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    #37
    delahuntv
    Closed Accounts Posts: 1,532 ✭✭✭delahuntv


    Tony EH wrote: »
    It's too fücking late to do anything about the electricity prices, the shower that run it, or the toothless regulator that gives in to their every demand for a price hike.

    or too many people beieve the crap printed in the gutter press?

    also, price regulation is the MAX they can charge - a tiny bit of shopjg around that will take 2 inutes will get you 15% discount.

    But SOOOO many people are far too lazy to do that, yet will spend hours whining about the price - I just never get that!


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    #38
    keithclancy
    Registered Users Posts: 9,222 ✭✭✭keithclancy


    Tony EH wrote: »
    It's too fücking late to do anything about the electricity prices, the shower that run it, or the toothless regulator that gives in to their every demand for a price hike.

    THAT'S WHY PEOPLE ARE KICKING UP ABOUT NEW WATER CHARGES AND A NEW QUANGO TO EXTORT THE MONEY FROM US.

    De-Regulation and competition reduced the cost of Energy in Ireland.

    Before you were just stuck with Bord Gais or ESB.


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    #39
    Tony EH
    Registered Users Posts: 18,925 ✭✭✭✭Tony EH


    Rubbish.


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    #40
    L1011
    Moderators, Business & Finance Moderators, Motoring & Transport Moderators, Society & Culture Moderators Posts: 67,766 Mod ✭✭✭✭L1011


    Tony EH wrote: »
    Rubbish.

    Can you actually refute that in an adult manner, rather than just one word?


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    #41
    scanlanavia
    Registered Users Posts: 112 ✭✭scanlanavia


    well well well..... lo and behold : Centrica Ireland have announced a reduction

    http://www.rte.ie/news/business/2015/0122/674854-bord-gais-energy/

    wasnt that timely !

    BUT the price of its gas unit is to go down by 3.5% while the unit price of electricity is to be lowered by 2.5%.

    So there you go... if it goes down by 5% in UK, then why only 3.5% in this place//
    Centrica... you are the same company ...
    Can someone explain where Centrica Ireland are tucking awy the 1.5%.

    The Electricity Price drop is only a token gesture ..
    Centrica Ireland ( Bord Gais ) are playing old semi state game..

    Yes I've switched too..... the annual switching game.... if we have real competition we wouldnt need the switching nonsense..
    Not everyone has the time to be comparing deliberately confused enegy bundles by all of them


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    #42
    Waerobic Woxajack
    Registered Users Posts: 26 ✭Waerobic Woxajack


    It's a cod. Despite years of recession when prices as supposed to fall, prices for electricity and everything (look at the prices for bus trips too and the like) have gone up drastically. This is because we are subsidising the politicians via VAT, insurance industry, greedy oil suppliers (who get it for cheap), etc., etc. Enough is enough and this ripoff culture needs to end as it is what caused things to go bellyup here in the first place.


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    #43
    SpaceTime
    Closed Accounts Posts: 9,088 ✭✭✭SpaceTime


    Look: the oil prices went down and the energy companies have to spend an absolute fortune readjusting their billing systems! So, you'll just have to pay more.

    You can't expect the poor people at those companies to reprogramme their highly complicated billing systems. It will take thousands of people hundreds of hours!

    "Each 1 and 0 has to be carefully adjusted by a team of experts using cutting edge technology. This is a very expensive and difficult process." Said a spokesperson for FakeElectric - Ireland's most satirical energy company.

    ....

    I'm not in a very generous mood about those power companies. The prices seem to always manage to go up immediately yet take months/years to pass on savings when prices drop again.


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    #44
    scanlanavia
    Registered Users Posts: 112 ✭✭scanlanavia


    I wish I could share your sense of humour though. I'm well gone beyond that... with rage..
    The Fake Energy Regulator is a Fake and might as well be made redundant as it's a toothless, useless function.
    It doesn't even have jurisdiction over Price.

    Shut that Quango too... because it doesn't work.
    Maybe a free for all in energy market might work better without the heavy hand of "useless" government regulation which we also pay for by the way in our bills.

    What is a PSO obligation.... don't we fund Public Service enough in our tax bill

    now where's my candle ?


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    #45
    L1011
    Moderators, Business & Finance Moderators, Motoring & Transport Moderators, Society & Culture Moderators Posts: 67,766 Mod ✭✭✭✭L1011


    scanlanavia wrote: »
    Maybe a free for all in energy market might work better wight the heavy hand of useless government regulatiom which we also pay for by the way in our bills.

    Look at the UK - it doesn't work.
    scanlanavia wrote: »
    What is a PSO obligation.... don't we fund Public Service enough in our tax bill

    Its an utter con-job to subsidise greenwashing, that's what it is.


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    #46
    scanlanavia
    Registered Users Posts: 112 ✭✭scanlanavia


    5 out of 6 energy providers in the UK have announced reductions of between 4% and 5%.. What's keeping them all here. Only bord gais so far... it must have killed them poor souls
    .... other's still contemplating


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    #47
    delahuntv
    Closed Accounts Posts: 1,532 ✭✭✭delahuntv


    scanlanavia wrote: »
    5 out of 6 energy providers in the UK have announced reductions of between 4% and 5%.. What's keeping them all here. Only bord gais so far... it must have killed them poor souls
    .... other's still contemplating

    check their prices - very easy to reduce when you charge far higher prices.

    But reductions will come and in any case, if you are not on a discounted plan, you are throwing money away. Takes less than 5 minutes to get up to 16% reduction.


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    #48
    efb
    Closed Accounts Posts: 35,514 ✭✭✭✭efb


    scanlanavia wrote: »
    5 out of 6 energy providers in the UK have announced reductions of between 4% and 5%.. What's keeping them all here. Only bord gais so far... it must have killed them poor souls
    .... other's still contemplating

    ELECTRIC IRELAND reduced theirs before Xmas


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    #49
    efb
    Closed Accounts Posts: 35,514 ✭✭✭✭efb


    I was with BGE now with Electric Ireland.switch and save folks


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    #50
    CJmasgrande
    Registered Users Posts: 480 ✭✭CJmasgrande


    I received this reply from energy regulators office FYI:


    Thank you for contacting the Commission for Energy Regulation.

    In relation to your query, we would highlight, that due to strong competition among suppliers, the Irish electricity market being de-regulated since April 2011. As a result of this the CER does not regulate the electricity prices in the domestic electricity market i.e. suppliers set their own prices without prior approval from the CER. Prior to April 2011 the CER did regulate the domestic electricity price set by Electric Ireland. When deciding on the prices, the CER allowed only efficient costs to be passed through in their tariffs. As part of this, the price electric Ireland purchased electricity on the wholesale market was taken into consideration. The wholesale price for electricity is primarily driven by international fuel prices and where there were increases in the fuel prices this would feed through to the price for electricity. However, fuel prices are only one component of the electricity price and the link between the two is not as direct and immediate as it may appear.

    With regards to electricity, there are number of fuel sources that contribute to the electricity generated in Ireland. Each year the CER publishes a document showing the contribution of each energy source to the overall fuel mix in the wholesale electricity market. The latest document show's the fuel mix for 2013 (see - http://www.cer.ie/docs/000414/CER14297%20CER%20Fuel%20Mix%20Disclosure%202013%20Information%20Document%20(1).pdf )and as can be seen oil was not used to produce electricity in Ireland in 2013. As can be seen from the document, gas had the largest contribution to the electricity generated at 44%.

    In relation to gas there does tend to be a link in the international fuel markets between oil and gas prices, but this link has weakened over recent years. The majority of the gas supplied in Ireland is imported from Great Britain and it is the price there that determines the price of gas in Ireland. There are a number of websites that provide daily updates on the price of gas in Great Britain, such as:

    www.theice.com
    www.bloomberg.com
    www.reuters.com
    www.icis.com
    www.platts.com

    In relation to how international fuel prices feed through to the price paid by consumers, it is important to highlight that many electricity suppliers will enter into contracts with generators to purchase some of the electricity they supply to customers up to two years in advance. International fuel prices, including gas, are extremely variable and fluctuate over time. Therefore, by constantly purchasing some of the electricity they will supply ahead of time they reduce the risk of exposure to sudden increases in wholesale electricity prices. What this also means is that it takes longer for changes in international fuel prices, including drops in the price, to filter through to the price paid by consumers in Ireland.

    It is expected that the changes in international fuel prices will feed through to electricity prices, although this may take some time due to the hedging of purchases conducted by electricity suppliers. We would highlight that there are considerable savings to be made by switching suppliers, with many suppliers offering significant discounts to new customers. The CER would encourage customers to shop around among energy suppliers to get the best possible price and service deals.

    I hope this explains things for you and if we can be of any further assistance, please do not hesitate to contact us.


  • Options
    #51
    _Jumper_
    Closed Accounts Posts: 150 ✭✭_Jumper_


    scanlanavia wrote: »
    5 out of 6 energy providers in the UK have announced reductions of between 4% and 5%.. What's keeping them all here. Only bord gais so far... it must have killed them poor souls
    .... other's still contemplating

    The Bord Gais Centrica reduction (which doesn't kick in until 16th March) still leaves them more expensive than every other providers prices available today.

    http://www.moneyguideireland.com/category/electricity-charges

    Great site that^^


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    #52
    delahuntv
    Closed Accounts Posts: 1,532 ✭✭✭delahuntv


    CJmasgrande wrote: »
    I received this reply from energy regulators office FYI:


    Thank you for contacting the Commission for Energy Regulation.

    In relation to your query, we would highlight, that due to strong competition among suppliers, the Irish electricity market being de-regulated since April 2011. As a result of this the CER does not regulate the electricity prices in the domestic electricity market i.e. suppliers set their own prices without prior approval from the CER. Prior to April 2011 the CER did regulate the domestic electricity price set by Electric Ireland. When deciding on the prices, the CER allowed only efficient costs to be passed through in their tariffs. As part of this, the price electric Ireland purchased electricity on the wholesale market was taken into consideration. The wholesale price for electricity is primarily driven by international fuel prices and where there were increases in the fuel prices this would feed through to the price for electricity. However, fuel prices are only one component of the electricity price and the link between the two is not as direct and immediate as it may appear.

    With regards to electricity, there are number of fuel sources that contribute to the electricity generated in Ireland. Each year the CER publishes a document showing the contribution of each energy source to the overall fuel mix in the wholesale electricity market. The latest document show's the fuel mix for 2013 (see - http://www.cer.ie/docs/000414/CER14297%20CER%20Fuel%20Mix%20Disclosure%202013%20Information%20Document%20(1).pdf )and as can be seen oil was not used to produce electricity in Ireland in 2013. As can be seen from the document, gas had the largest contribution to the electricity generated at 44%.

    In relation to gas there does tend to be a link in the international fuel markets between oil and gas prices, but this link has weakened over recent years. The majority of the gas supplied in Ireland is imported from Great Britain and it is the price there that determines the price of gas in Ireland. There are a number of websites that provide daily updates on the price of gas in Great Britain, such as:

    www.theice.com
    www.bloomberg.com
    www.reuters.com
    www.icis.com
    www.platts.com

    In relation to how international fuel prices feed through to the price paid by consumers, it is important to highlight that many electricity suppliers will enter into contracts with generators to purchase some of the electricity they supply to customers up to two years in advance. International fuel prices, including gas, are extremely variable and fluctuate over time. Therefore, by constantly purchasing some of the electricity they will supply ahead of time they reduce the risk of exposure to sudden increases in wholesale electricity prices. What this also means is that it takes longer for changes in international fuel prices, including drops in the price, to filter through to the price paid by consumers in Ireland.

    It is expected that the changes in international fuel prices will feed through to electricity prices, although this may take some time due to the hedging of purchases conducted by electricity suppliers. We would highlight that there are considerable savings to be made by switching suppliers, with many suppliers offering significant discounts to new customers. The CER would encourage customers to shop around among energy suppliers to get the best possible price and service deals.

    I hope this explains things for you and if we can be of any further assistance, please do not hesitate to contact us.

    almost exactly as I said way way way back in thread.

    Electricity is not made from oil.


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    #53
    animaal
    Closed Accounts Posts: 815 ✭✭✭animaal


    delahuntv wrote: »
    Electricity is not made from oil.

    This is correct, but there is a relationship between oil and electricity prices - this is from an old report (2009), but I doubt the big picture has changed completely since then....

    SEAI Report

    "The most significant factor affecting energy prices in Ireland is recent dramatic changes in global oil prices due to Ireland’s high
    dependence on oil. In addition there is the knock-on impact oil prices have on other energy prices, in particular natural gas
    and as a consequence electricity prices."

    "The coupling of gas prices to oil prices is historically evident despite the existence of three distinctly separate (in terms of
    production, treatment and consumption) natural gas markets worldwide"

    Anyway, I'm not an expert. But this, along with electricity price increases when oil prices have risen, would make me think that we should be in line for reductions now.


  • Options
    #54
    delahuntv
    Closed Accounts Posts: 1,532 ✭✭✭delahuntv


    animaal wrote: »
    This is correct, but there is a relationship between oil and electricity prices - this is from an old report (2009), but I doubt the big picture has changed completely since then....

    SEAI Report

    "The most significant factor affecting energy prices in Ireland is recent dramatic changes in global oil prices due to Ireland’s high
    dependence on oil. In addition there is the knock-on impact oil prices have on other energy prices, in particular natural gas
    and as a consequence electricity prices."

    "The coupling of gas prices to oil prices is historically evident despite the existence of three distinctly separate (in terms of
    production, treatment and consumption) natural gas markets worldwide"

    Anyway, I'm not an expert. But this, along with electricity price increases when oil prices have risen, would make me think that we should be in line for reductions now.

    completely changed since 2009 - gas prices and oil prices now don't converge the same way. The run to $110 on oil was totally due to hedge funds and gamblers - last year 9 times the amount of oil used was traded.

    Gas prices have been relatively stable and have reduced recently, but didn't jump when oil jumped to $100-$110. If it had, there would have been fairly hefty price increases way higher than the ones that were imposed.


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