Uncle_Doug
22 Nov 2018
Clutching at straws, er ... Strong Buy Another positive is that Martin Lewis has repeatedly recommended CNA in recent weeks so some of their current tariffs must be competitive. Lewis has quite a following.
frog_in_a_tree
22 Nov 2018
Clutching at straws, er ... Strong Buy Hi Doug, Is it a case of too little too late with CNA? They are still bleeding customers. To my mind they have not been able to wean themselves off a strategy based on high prices and customer reluctance to switch. The switching habit is taking off and more and more of us are doing so and more of us are aiding our more vulnerable friends and relatives to get better deals. I have provided such assistance and when I have spoken to CNA customer services they have proved unable to offer a new value for money deal that is genuinely competitive with the best in the market. In my view they have grown fat and lazy on easy profits based on ripping off complacent and vulnerable customers. They need a step change which cuts the fat and inefficiency and over generous rewards and which genuinely competes on price. The only positive news is that a number of small agressively priced competitors have gone bust. The market will eventually find a level which is pitched somewhere below CNA’s price point. The game was really up once Labour and then Tories realised that energy rip-off pricing was a political issue. As it is CNA is uninvestible at the moment. Cheers, Frog in a tree
Gamesinvestor1
22 Nov 2018
More pain El – It’s an interesting point isn’t it. It sums up the waste of human capital for hundreds of people employed on these comparison web sites supporting hundreds of companies all fighting over the same dog bowl of basic energy to be supplied to a customers door. I look at some of the idiocies supported by governments and you have to wonder what they are trying to achieve except perhaps supporting a few with vested interests. I’m coming across as all high brow, but it’s not meant to be and I’m not, I just wonder at the daftness of it all. Games
Uncle_Doug
22 Nov 2018
More pain 135p now. Great price to get in at if you’re not too scared.
Uncle_Doug
22 Nov 2018
Clutching at straws, er ... Strong Buy Must admit I wasn’t expecting a 9% drop today to leave SP @132p. I reckon fall is overdone. Still, could be worse and still well up on Feb 2018’s SP of 125p if you include divvies. The important thing is … looking forward will 132p be seen as a new bottom? My 170p may take a few more months.
El_Kel
22 Nov 2018
More pain I wonder how many of the 10,000s of customers British Gas lost went to one of these incompetent smaller energy co’s. [link] "Another small energy supplier - Extra Energy - has ceased trading, making it the sixth supplier to go out of business since the start of the year. The company had attracted just 108,000 domestic and 21,000 business customers. The other suppliers to cease trading this year are: Future Energy (January) National Gas and Power (July) Iresa (July) Gen4U (September) Usio Energy (October) Since the gas and electricity supply markets were opened up to competition, the industry has attracted dozens of new entrants. As of June this year there were 73 suppliers, including 67 smaller operators. Ofgem said 13 new suppliers entered the market in the year to June."
Gamesinvestor1
22 Nov 2018
More pain Down almost 9% [link] Outages and Nuclear Inspections have a big hit plus going forward the price cap on the variable tariff will hit Centrica because they still have over 3M customers on it. Dividend held lol !! Games
Uncle_Doug
17 Oct 2018
Clutching at straws, er ... Strong Buy 10 months on - seems I was right. Amazingly, Martin Lewis moneysaving website now recommending British Gas as their best choice company. I was already thinking the SP was on a rebound but this will help get the SP up even higher. I’d say CNA is a very good bet for the long term right now -170p in next few months. STRONG BUY
El_Kel
10 Oct 2018
Citizens Advice supplier comparison Only just seen this from the Citizens Advice website. Customer service issues have been discussed on many occasions but I reckon this table is a useful guide on how Centrica are improving. I’m amazed at how badly many of the smaller suppliers are rated. [link]
frog_in_a_tree
06 Sep 2018
Price capping of default tariffs I rather think that the difference between your fixed tariff and the SVT should be more than you say. Money supermarket says: “The average Big 6 standard variable tariff is £1,131 and the cheapest fixed rate tariff is with Green Network Energy at £878 – the difference is £253. According to MoneySuperMarket data, correct as of March 2018.†From this we can see that the cap of around £70 is just a little more than 25% of the difference. A very modest cap I think. Frog in a tree
little.rocket.man
06 Sep 2018
Price capping of default tariffs Frog, Yes, I agree that a fixed tariff is cheaper but that is why you chose it. It gives you a price for standing charge and a price per unit which works for you. It isn’t really a case of just concluding that the charge will be less than £1276 p.a. (or whatever the figure was). I pay around £900 dual fuel for new build (hence energy efficient) where two people live. This is on a fixed term contract but if it were SVR it would be (maybe) £980 p.a. The cap does not work for me. Now a couple with 4 kids in an energy inefficient home could easily pay more than £1276 () on a fixed term or SVR. If they are on SVR they get help , if on fixed then not. The cap doesn’t seem to work.
frog_in_a_tree
06 Sep 2018
Price capping of default tariffs All I can say LRM is when I compare my fixed term tariff it is still massively cheaper than the estimated average of SVR after the cut. I seems clear to me that those on SVR will still be making excessive profits for the big energy companies. Frog in a tree
little.rocket.man
06 Sep 2018
Price capping of default tariffs frog_in_a_tree: Pretty much this market response is a reflection of the pathetic softness of the cap Frog, what level of cap would be appropriate in your view. As I see it the cap helps the vulnerable and lazy as you point out and I am assuming that you make this distinction because one group deserves help whilst the other does not. In this case would it not be better if the regulator worked out how to identify the vulnerable and directly help them rather than simply set a global tariff and say anything above this is “profiteeringâ€.
frog_in_a_tree
06 Sep 2018
Price capping of default tariffs Along with the other energy suppliers, CNA has seen a big increase in its share price, around 5% in this case. Pretty much this market response is a reflection of the pathetic softness of the cap. The average SVT customer stands to save around £70 pa. this is nothing when compared with the savings that can be made by switching to a fixed tariff. Vulnerable (and lazy) customers will continue to be exploited mercilessly. Frog in a tree
frog_in_a_tree
01 Aug 2018
Results Hi…I knew that. The transfer takes place tday so I need to take meter readings. I will look Octopus over but will switch if I can find better value. Bulb looks promising. Cheers, Frog in a tree
