News summary

Professional news feeds from some of our most trusted sources from the general press as well as industry specific publications.

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Despite many press groups and, quite surprisingly, Which? Magazine  seem to think that automated metering is going to cause widespread chaos and quite possibly be a precursor to the apocalypse, most suppliers and their customers who are using SMART (AMR) meters seem to be getting on rather well with them. Although there’s a bit of up front cost at present, the trade off is consistently accurate readings and the potential for clever monitoring software which can be made available to customers via web portals and reflected on their bills. First Utility have been at this for a while, offering an SMART only product to their business customers, while many other suppliers are now rolling out SMART metering to their customer base.

Yes, we need some direction from OfGEM as to rules around cross-compatibility and ensure that no-one’s being pressured into a contract they don’t want, but for those who are happy to enter into a new contract and are prepared to pay a modest premium for accurate billing, then SMART metering certainly seem to be the way forward.

Good article here: http://www.independent.co.uk/money/spend-save/can-smart-meters-counter-high-bills-and-energy-use-6296115.html

An interesting article on Utility Week’s website caught our eye:

http://www.utilityweek.co.uk/news/news_story.asp?id=196447&title=Energy+firms+%27must+copy+supermarkets%27

We all know what’s wrong with energy suppliers, but nothing ever seems to improve. Competition may be the only way to rectify the situation. EDF seem to be taking the bull by the horns with domestic customers, offering up some nicely branded 2012 Olympics style offers, but what are SME customers getting? Very little at present other than even worse levels of service and a lack of consistency in the market. If you’re not happy then tell them, if they don’t listen then leave. At the very least minimise the amount you pay. Sound daunting? Talk to us for more information of how to switch supplier or how to reduce your costs with your current supplier.

With the post-Christmas round of “Hey, look at us, we’re dropping our prices. Aren’t we great?” seemingly over, how does the energy market look. Pretty average I’m afraid. Ultimately, the big six had to drop their rates to avoid money bursting through their office windows have suffocated their sales teams. OfGEM have promised to keep an eye on the difference between wholesale and retail price differentials. All of a sudden everyone’s dropping their prices for standard rate customers. This is mainly because standard rate customers are paying through the nose. The best bet is to get a price comparison of what’s available and then pick either based on price or recommendation from a friend or third party. Click here to see how we can help sort the wheat from the chaff.

So, 12 month contract rates are looking pretty decent at the moment, especially if you’re switching suppliers. So good in fact that people are often going for them without even looking at the longer term options. 36 month rates are looking great across SME suppliers at the moment following a mild winter but could well be on the way up with a cold snap due in early February.

Our view? Although there can be seasonal variations and spikes caused by sociopolitical and supply/demand issues, the general trend is that energy prices increase.. Longer term contracts offer security against price increases, rollover rates, devaluation of currency and inflation. They also provide the ability to budget for a longer period, something often more valuable to a small business than a short term financial gain.

The price of gas around Europe has risen sharply due to increased demand as a result of the cold weather.

http://www.bbc.co.uk/news/business-16916577

Good article available on the BBC News business pages. Adverse weather conditions are effecting the continent, meaning the cost of imported gas has also been effected, resulted in a major price hike across the pan-European markets.