Utility Exchange
The Christmas holidays are fast approaching us here at Utility Exchange so in order for us to go and eat lots of turkey, pull crackers and wear silly hats round the dinner table, we would like to take this opportunity to advise you that our news section will shut down today and re-open on January 4, 2010!
But, do not panic, we will keep our beady little eyes open and our ears to the ground ensuring that we do not miss the important stuff in between…
Most importantly, thank you for visiting the Utility Exchange website and reading our daily news, we have enjoyed reporting on the latest topics, and current gossip concerning business gas prices, business electricity prices, business telecom and not forgetting business mobile, well quite frankly anything business!
In fact, we make it our business to research the utility markets every day to ensure that you receive the most up-to-date advice along with the best possible deals.
So, to all our clientele, old and new – Have a very Merry Christmas and a Prosperous New Year
Utility Exchange compare business electricity prices, business gas prices and business telecoms everyday saving you time, money and energy. Request a FREE quote online or call 0800 411 8830 – On or After 4th January 2010… A little birdie has told me those people are allowed a holiday too!!!
Merry Christmas
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EDF To Sell Off UK Business?
Utility Exchange has reported previously that EDF may be considering selling part of British Energy but telegraph.co.uk reports today that EDF may now be looking at selling its UK business.
EDF has said it’s looking at options for EDF Energy as EDF’s debts have grown significantly after it bought British Energy last year.
The chief executive of EDF has promised the French government that it would reduce its debts by 5bn euros by the end of 2010.
It remains to be seen how EDF will reduce its debt. The options look like either selling off part of British Energy or selling off its UK business.
See also: http://www.utility-exchange.co.uk/2009/09/edf-to-sell-another-share-of-british-energy/
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Wimbledon School Joins 10:10 Campaign
Utility Exchange reported recently on the 10:10 climate change campaign which was launched earlier this month. While few schools have joined the campaign so far the Wimbledon Guardian reports that King’s College School in Wimbledon has signed up to the 10:10 campaign.
Those signing up to the climate change campaign commit themselves to reducing their carbon emissions by 10% in 2010. So far many organisations have joined including hospitals, local authorities and businesses. Utility Exchange has already reported that British Gas and Royal Mail have committed to the climate change campaign.
The headmaster of King’s College said they were “delighted” to be one of the first schools signing up to the climate change campaign. He said their science building has a wind turbine on the roof and they are hoping to make their existing buildings more energy efficient.
See also:
http://www.utility-exchange.co.uk/2009/09/royal-mail-joins-1010-climate-campaign/
Source: http://www.wimbledonguardian.co.uk/news/4650203.Wimbledon_school_leads_UK_climate_change_fight/
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Price War Looms As Vodafone Get iPhone Too
Utility Exchange reported yesterday that Orange had signed a deal with Apple to sell the iPhone as O2’s exclusive right to the smartphone comes to an end. The Times Online today reports that Vodafone signed a deal with Apple late last night and will become the third operator to sell the iPhone.
This news can only be good for consumers as increased competition will hopefully mean lower prices as the operators battle for new customers. The Daily Telegraph suggests that the forthcoming price war could see the iPhone being sold for as much as £100 less than at present. Analysts also suggest that tariffs could come down by £4 to £5 a month too.
However, the price war may not kick in until after Christmas as The Times Online reports that Vodafone will not be allowed to sell the iPhone until early 2010 which will mean they will miss benefitting from the busy Christmas shopping period.
The Daily Telegraph reports that Virgin Mobile is also trying to secure a deal with Apple to sell the iPhone.
Source: http://www.telegraph.co.uk/technology/apple/6241786/Vodafone-will-sell-the-iPhone-in-the-UK.html
http://business.timesonline.co.uk/tol/business/industry_sectors/telecoms/article6853402.ece
Also see: http://www.utility-exchange.co.uk/2009/09/orange-gets-the-apple-iphone/
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Govt Set To Extend Scrappage Scheme
After the report this morning by Utility Exchange that car manufacturers were calling on the government to extend the car scrappage scheme, the dailytelegraph.co.uk reports that Lord Mandelson is expected to announce that the scheme will be extended, in his speech to the Labour Party conference this afternoon.
An extension to the scheme would mean it would go into next year and it’s expected the scheme will now cover vans bought before September 2002.
We will have to wait for full details of the extended scheme one he delivers his speech.
Also see: http://www.utility-exchange.co.uk/2009/09/calls-for-scrappage-extension/
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Electricity Suppliers Swap Assets
Utility Exchange reported yesterday that EDF was considering selling another 20% of British Energy. EDF is playing down these reports but has not ruled them out and now timesonline.co.uk reports that EDF is close to swapping some of its assets with E.ON.
The French owned EDF is looking to cut 37 billion euros from its debt as it moves forward with its plan to build the next generation of British nuclear reactors.
The talks with E.ON involve the German energy provider buying a stake in French nuclear power stations and in exchange EDF would gain access to German coal-fired power stations.
It looks like the two energy companies are trying to appease the European competitions regulator as there are worries that they are becoming too powerful within their own domestic markets.
Source and further details: http://business.timesonline.co.uk/tol/business/industry_sectors/utilities/article6843584.ece
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Small Is Cheaper Energy
The Guardian.co.uk. reports that now is a good time to move to a smaller energy provider, before the heating needs to be turned back on again.
The Guardian reports that the cheapest energy tariffs on the market at the moment for home owners come from two of the smaller energy companies, not one of the “big six” suppliers.
First Utility, as reported by Utility Exchange last week, has just brought out iSave. This tariff makes it the cheapest supplier in the UK. It’s a dual fuel tariff and you don’t have to be in a contract, so if you’re not happy you can switch at any time. Other cost savings from First Utility include a 12.5% annual discount after 12 months of direct debits with First Utility and a £5 credit each quarter if you give First Utility at least one gas and electricity meter reading in that period.
The second new energy provider is OVO Energy. Their tariff is just a few pounds more a year than First Utility but the difference is that it’s a fixed price deal. This means that as prices go up and down you know exactly what you’re paying each month. However, if you leave within a year you have to pay an exit fee which is £30 each for gas and electricity.
One plus side to joining OVO Energy is that 15% of its energy comes from renewable sources and if you want it, for a slightly higher fee, OVO Energy offers 100% renewable electricity.
See also: http://www.utility-exchange.co.uk/2009/09/new-kid-on-the-block-offers-cheapest-energy-deal/
http://www.utility-exchange.co.uk/2009/09/smaller-gas-and-electricity-suppliers/
http://www.utility-exchange.co.uk/2009/09/isave-with-firstutility/
Source and further details: http://www.guardian.co.uk/money/2009/sep/20/cheaper-winter-bills
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The Mini E – It’s Electric!
The Frankfurt motor show has been a showcase for new electric cars including ones that Utility Exchange have already reported on such as the Trabant nt.
Another electric car being showcased at the Frankfurt motor show is the Mini E. It’s a two-seater car, largely because the space where the rear seats would have been is now taken up by the battery.
However, BMW Group sales and marketing director, Ian Robertson suggests that batteries are advancing so much that it may be they won’t require such a big space in the near future.
There are currently several concept cars being shown by Mini at the Motor Show including the new coupe and convertible, which will go into production soon. But it’s thought that these models could be turned into electric cars, as they are both two-seaters.
Before the coupe and convertible are produced though a new 4×4 cross-over model is being built this winter and it’s thought that this model could be an ideal electric car as it will have a higher stance meaning there will be more space for the battery.
Source: http://news.bbc.co.uk/1/hi/business/8262255.stm
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Big Six Warn Energy Bills Could Go Up – Not Down
Utility Exchange reported earlier this week that the big six energy companies had been urged by Ofgem to reduce energy bills as wholesale prices have gone down significantly since last year. However, as expected, those big six have told Ofgem that there is no chance prices will go down and some have even suggested that prices may go up.
The energy companies say that while wholesale prices have gone down other costs, suggest as the transportation of energy, has gone up.
A spokesman for Consumer Focus said that Ofgem had asked energy suppliers to let them know what to expect and that this is exactly what the energy companies have done.
Ofgem has said that the gross profit for each of the six big energy firms for the next year is estimated to be around £170 for each dual fuel customer. Over the last three years the average profit has been £110.
Ofgem has estimated that over the next 12 months the wholesale cost of electricity will fall by about £25 for each customer and the price of gas will fall by about £40.
The following information is taken from the BBC News site:
British Gas – “Prices [are] likely to remain at historically high levels, and in fact likely to increase as non-commodity costs rise ever upwards.”
• EDF Energy – “We would of course be prepared to reduce tariffs if market conditions allow.”
• E.ON – “[We] do not believe there is a clear message regarding future wholesale costs movements that can be communicated to customers.”
• RWE – “A retail price commentary cannot be based only on a narrow view of wholesale costs and in any event wholesale costs need to be weighed against increases in other costs.”
• Scottish and Southern Energy – “With forward annual wholesale prices significantly higher, and with upward pressures in terms of distribution, environmental and social costs, seeking to avoid an increase between now and the end of 2010 is an important goal.”
• Scottish Power – “There are no immediate signals that would indicate a fall in retail prices for this winter, and risks of an increase next year.”
See also: http://www.utility-exchange.co.uk/2009/09/no-energy-price-cuts-until-after-the-winter/
Source and further information: http://news.bbc.co.uk/1/hi/business/8262360.stm
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High Taxes Encourage Businesses To Leave North Sea
Utility Exchange reported last week on the fact that oil companies were not happy about the increase in taxes on North Sea oil and that many oil companies were reassessing whether or not they continued to explore and develop North Sea oil sites. The Times reported yesterday that the American oil group, Noble Energy is pulling out of the North Sea and is selling its North Sea business for £210m.
This is just one of a number of businesses that have pulled out of the North Sea because of falling production and increases in government taxes. The bid deadline is 21st October and likely bidders include Maersk of Denmark, Canadian group Nexen and the Canadian oil exploration company, Talisman. The sale may prove difficult due to the number of businesses trying to offload North Sea oil sites at the moment.
See also: http://www.utility-exchange.co.uk/2009/09/govt-on-a-win-win-with-north-sea-oil/
Source: http://business.timesonline.co.uk/tol/business/industry_sectors/natural_resources/article6832263.ece