Energy price news

This September has been an unstable month for the energy market – hear from our experts about what this means for your gas and electricity bills and how we can support you during this time.

Nabuh Energy price news update

Why have energy prices been increasing?

Wholesale energy prices have been rising in the past few weeks for a number of reasons:

  • Demand for energy has increased in the last few months due to economies reopening after lockdowns
  • Last spring was particularly cold, meaning that more gas supplies were used
  • In recent weeks, calmer weather has meant that less electricity from wind turbines has been generated
  • Some power plants are currently closed for maintenance

This has caused energy prices to reach record levels. Some small suppliers have had to cease trading due to not being able to afford energy at this higher cost and being unable to fulfil their commitments to supply gas and electricity to their customers.

What are Nabuh Energy doing to help?

British Gas took over the supply of energy from Nabuh on 27th April 2021. Nabuh’s 36,000 customers and approximately 70 employees were welcomed to British Gas, so since April 2021 you’ve been supplied by British Gas. Your account continues to operate under the Nabuh Energy brand.

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.

How do increases in wholesale energy prices affect me?

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 tariff is coming to an end, your new tariff may be a little higher because of the rise in wholesale energy prices. However, agreeing a new fixed price tariff should help to protect you from any further price increases. Variable tariffs won’t protect you from possible future increases.

If you’re on a variable tariff

As wholesale energy prices rise, so do domestic prices. Wholesale prices make up around 40% of a typical energy bill. However, you are protected by the energy price cap which is a set limit on how much we charge you for the energy you use.

See our tariffs

Worried about paying your bills? We are here to help

If you are worried about paying your bills, help is available. We have payment plan options, Friendly Credit and Emergency Credit for times when topping up proves to be tricky.

See how we can help

You may be able to lower your energy bills with our energy saving tips.

Before we let you go…

You may have read in the news that Ofgem, the energy regulator, has revoked the electricity supply licence held by Nabuh Energy Ltd over unpaid debts. Nabuh Energy was acquired by British Gas in April 2021. The unpaid debts are connected to the previous owners of Nabuh Energy Ltd and are not debts that British Gas are expected to pay. Nabuh Energy now operates under the British Gas supply licences and we are welcoming new customers who want to join British Gas under the Nabuh Energy brand.

Win an iPad!

As a thank you to our customers, every month we will be entering all live Nabuh Customers into a draw to win an iPad. Octobers winner will be announced live on Facebook on Monday 6th 2017.

Nabuh Energy sponsors SUFC Ticket Office

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/