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British Gas Hikes Power Bills

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Just wow.

http://www.independent.co.uk/news/business/news/british-gas-hikes-power-bills-2309156.html

British Gas hikes power bills

PA

Friday, 8 July 2011

Millions of British Gas customers are to face higher utility bills after the company said it is putting up the price of both gas and electricity.

Gas prices will rise by an average of 18% and electricity bills by an average of 16%.

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:o

Unbelievable.

I reckon many who bought huge houses, are going to be struggling with the bills when winter comes.

Some neighbours of mine, a young couple (no kids), last winter, sold their nice 3 bed semi and moved into a 3 storey 6 bed house (newish) because their thinking was the more you spend on housing, the better the "investment". The day they moved in, they told me they hadn't realised the house needed 2 separate boilers, one for the bottom 2 storeys and one for the top floor..

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Gas prices will rise by an average of 18% and electricity bills by an average of 16%.

Ahhh... deflation.

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Thanks Merv.

Kinda hard for the economy to recover if everyone is bankrupted by inflation.

Kind of impossible, but look on the bright side they are vigilent if there is any pass through effect and wages start to rise.

These pompous, arrogant, ignorant shysters have taken no responsibility for landing us in the shit in the first place and pulled up a bowser full of more and opened the gate.

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Don;t forget all these rises are compounding. It was only eight months ago it raised prices by 7%. You take the figures over say the last five years and the headline rate that is being quoted now is probably 20-25% in relation to salaries at a fixed point just a few years ago.

Inflation under the bridge gets ignore by Kunt & Co, their 12 month rolling con game bears no relation to reality. It stills hits the wallet short and long term, exponentially.

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It's not just 18% - the shits have put up my gas by more than 40% in the last 9 months!

At the end of last year it went up by 10%. Last month the on-line tariff I was on finished, meaning another 15% rise, now followed by 18% next month.

Time to move suppliers!!

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It's not just 18% - the shits have put up my gas by more than 40% in the last 9 months!

At the end of last year it went up by 10%. Last month the on-line tariff I was on finished, meaning another 15% rise, now followed by 18% next month.

Time to move suppliers!!

It will make no difference long term which supplier you go to - switch and bait.

The scaled charging is also a particularly nasty tactic - penalising those with higher chargin rates who successfully drop their usage.

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I was reading an analysis of our producer price figures earlier which made the point that output food prices were rising more strongly than the headline number and that this would hit the poor disproportionately. Now we see gas and electricity prices continuing to rise which will have the same effect. Here is an excerpt from this thoughtful analysis.

Then this morning from the Office for National Statistics we got the flation.

Output price ‘factory gate’ annual inflation for all manufactured products rose 5.7 per cent in June 2011.

Input price annual inflation rose 17.0 per cent in June, compared with a rise of 16.1 per cent in the year to May.

There is not much cheer to be found in those numbers as they show a combination of slowing economic growth and a continuation of high levels of producer price inflation. Indeed the annual output number for producer prices has hit a high for 2011. If we take a look at the break down of the numbers we see that the food products component of this is rising at an annual rate of 8.9 so even worse we see regressionary influences at play. This is the highest rate of inflation in this area since late 2008. For those wondering what I mean by this it is that the poor spend proportionately more of their money on food so price rises hurt them more than the better off.

http://t.co/SmA2Jxp

Whilst of course the rich seem to be getting richer.

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What's going up the first bit you use or all prices across the board?

Still at least it's not that nasty wage inflation, although I'm sure the top bosses will award themselves nice big pay increases.

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I'm just pleased there's no inflation to worry about :rolleyes:

Semantics perhaps, but I think what we are seeing is currency devaluation as opposed to contraction/expansion.

From June 29th 2011

The amount of Great British pounds (GBP) in circulation domestically in the United Kingdom, and deposited in local banks, grew a meager 0.1% this past month, below expectations for a 0.3% increase, month-on-month.

The report released on the M4 Money Supply this morning by the Bank of England ( BOE ) does not tend to have much impact on the currency market, but it struck me as interesting that the amount of GBP held locally shrank in June. The data lines up well with the ominous Current Account published yesterday that revealed a sharp increase to the nation's trade deficit; indicative of a movement of local currency away from its home market.

Linky

Basically we are just getting poorer and our economy is stagnating. IMHO we really need to rebalance in order to get things moving (assets correctly valued), but doing so would risk financial stability (euphemism for banks). Catch 22

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18%, jesus!!!!

This deflation is a killer ;)

This will be GUT-BUSTING, especially for those with big houses.

this is what FIGHTING deflation does....it destroys the economy the other way.

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Ahhh... deflation.

No, biflation ;).

Inflation of prices of everyday things usually bought with cash and deflation of prices of big ticket items (like houses) often bought with borrowed money.

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No, biflation ;).

Inflation of prices of everyday things usually bought with cash and deflation of prices of big ticket items (like houses) often bought with borrowed money.

Perfectly described by the Austrian theory of Economics 100 years ago.

The onlt theory that explains it adequately, they claim.

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It will make no difference long term which supplier you go to - switch and bait.

The scaled charging is also a particularly nasty tactic - penalising those with higher chargin rates who successfully drop their usage.

Move anyway......How unfair is it that those that use the least by trying to cut down pay the most. :rolleyes:

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yikes !! id better swap providers so as soon as its switched they can put their prices up too, and foul up the meter reading etc, not cancel the direct debits and so on. so i pay more.

door to door selling is now a criminal offence unless its for power or tv.

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Ahhh... deflation.

Wholesale gas prices are apparently lower than peak '08, just as oil in dollars is $47 below peak and even in sterling oil is 10% below 2008 peak.

I'd say that's pretty deflationary from peak, just like house prices are below peak and deflating.

'Course if you were a hard money proponent you'd probably further argue that today's sterlings are much devalued versus '08 which makes these numbers even more deflationary but I'll leave that up to them.

It just appears inflationary because the criminals who are working for the energy companies are allowed to get away with their criminality as are the criminal banksters and the criminal newspaper proprietors.

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Gas prices are partly up because the pound is down, because the gov has set interest rates at zero to try to save house prices.

Explain this to all you friends.

i did. i also say gold never rises. it just takes more shitty pounds to buy one.

they just buy scratch cards and ignore me. and rightly so.

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
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