Energy price news – February 2022

Posted Posted in Nabuh Official Update

Ofgem’s decision to increase the price cap by 54% from April 1st 2022 shows how sharply energy costs have gone up. Because of bigger costs, our variable tariff rates will increase.

Nabuh Energy price news update

We know increasing our prices isn’t welcome news. We wanted to be open and give our customers as much notice as possible. The prices increases come in on 1st April. We’ll be in touch with all customers who are affected with a letter or email by mid-March. We provide all the information we have about the increase to the price cap in this blog. We hope this will help answer your questions.

  1. What are the new prices?
  2. Why are you increasing your prices?
  3. Is Nabuh Energy stable?
  4. Are my prices increasing?
  5. What is the energy price cap?
  6. How do Ofgem decide the price caps?
  7. I’m worried about paying for my energy
  8. How can I reduce my bills and use less energy?

What are the new prices?

The table below shows how rates will change for the average household. These rates are averages and will vary by region, payment method and meter type. If you’re on a variable tariff, you’ll receive an email or letter with your new rates shortly.

Prepayment meter Paying by cash / cheque Paying by direct debit
Electricity standing charge per day £0.50 £0.51 £0.45
Electricity unit rate per kWh £0.28 £0.30 £0.28
Gas standing charge per day £0.37 £0.32 £0.27
Gas unit rate per kWh £0.07 £0.08 £0.07

Why are you increasing your prices?

Domestic energy bills are linked to wholesale energy prices. These are the prices energy companies like us pay for the gas and electricity we supply to our customers. Wholesale prices have risen a lot and some energy suppliers have been making a loss, which is why they’ve gone out of business. That’s why energy suppliers have little choice but to increase prices in line with the Ofgem’s price cap level.

Is Nabuh Energy stable?

British Gas took over the supply of energy from Nabuh on the 27th April 2021. Nabuh’s 36,000 customers and approximately 70 employees were welcomed by British Gas. Whilst your account is still under the Nabuh Energy brand, your energy is supplied by British Gas.

British Gas are a responsible supplier in a strong financial position. We have hedged energy (bought in advance) to make sure that our customers can rely on us to keep their homes warm this winter. This is why British Gas have been asked by Ofgem (the UK’s energy regulator) to help customers of those smaller companies that have had to cease trading.

Are my prices increasing?

If you’re on a variable tariff

If you are on a variable tariff, then it’s unavoidable that your costs will increase.

Tariffs affected by the price cap are:

  • Rachel PPS (Prepayment Smart Meter)
  • Rachel PPT (Traditional Prepayment Meter)
  • Discount tracker exclusive
  • Discount tracker exclusive renewal
  • Jessica

In a typical household, if you have a credit meter you’ll pay £693 (excluding VAT) more on your annual energy bill. This works out at £58 per month. Prepayment customers will see an increase of £708 (excluding VAT) per year, or £59 per month.

This is protected by the energy price cap, which has set a limit on how much we charge you per unit of energy you use.

If you’re on a fixed tariff

With a fixed tariff your standard charge and unit rates will stay the same unless:

  • You choose to change your tariff
  • You change the way you pay us (e.g. stop paying by Direct Debit)
  • The government or regulator does something that changes the price (e.g. an increase in VAT)

We’ll always give you as much notice as possible if there is a change to your price.

If your fixed price tariff is due to end shortly, then your new prices will be higher than your old tariff. This is because the wholesale cost of energy is higher than what it was when you agreed your last fixed price.

What is the energy price cap?

Our industry regulator, Ofgem, has set a maximum price that energy suppliers can charge for a unit of gas and electricity. It also sets a maximum daily standing charge. This means that the price of a unit of gas and electricity is capped, but not your bill – your bill can still go up or down, depending on how much energy you use.

For more information on how the energy price cap works, read our energy price cap page.

How do Ofgem decide the price caps?

Ofgem set their price caps by working out how much it costs energy suppliers like us to supply you with gas and electricity. These costs cover things like buying wholesale energy, maintaining supply pipes & wiring and operating costs. Ofgem’s decision to increase the price cap by 54% from April 1st 2022 shows how much energy costs have gone up.

Ofgem review their price caps twice a year. Any changes they make will take effect on 1st April and 1st October of each year.

I’m worried about paying for my energy

We want to support you if you need help to pay your energy bills or manage your debt. We could offer payment plan options and can offer Friendly and Emergency Credit for prepayment customers for times when topping up proves to be tricky.

There’s also additional support we can offer.

You may also be able to get help from the British Gas Energy Trust. The trust is an independently run charity, funded by British Gas. They may be able to advise you on fuel debt, point you in the direction of government grants for those struggling with energy bills, or in some circumstances, allow grants for debt relief.

There are other organisations that might be able to offer you support and advice.

Government Support

The government are offering support for the cost of living crisis. This support in England includes a Council Tax Rebate scheme, an Energy Bill Discount scheme and an extension of the Warm Home Discount. There are similar schemes available for those in Scotland and Wales.

However, be careful to look out for scam emails or text messages. Fraudsters tend to exploit those who are vulnerable. Don’t give away your bank details unless you’re sure the email, text or call is legitimate. If you’re at all uncertain whether it’s genuine, please get in touch with us.

How can I reduce my bills and use less energy?

Using less energy will mean you pay less on your bills. We’ve pulled together a list of energy saving tips that might help.

Nabuh Energy sponsors SUFC Ticket Office

Posted Posted in Nabuh Official Update

We are proud to announce a new partnership deal with Sheffield United Football Club. The partnership will see us sponsor the ticket office.

Liam Robinson, United's Commercial Key Account Manager said "We are delighted to add Nabuh Energy to our list of club partners. Their local base and growth potential makes them a company that the club are very happy to affiliate with. We look forward to working with Nabuh over the course of the season."

Laura Gardiner, Nabuh Energy's Brand and Marketing Manager commented "We are all about helping and supporting the local community, we know we can help people save money on their energy bills, not only for the everyday consumer but also for all those Sheffield United fans out there. It's an exciting time for us and we can't wait for the season to begin!"

To purchase your tickets for this season, please see the following link:

https://www.sufc.co.uk/tickets/