Rising cost of living - Page 33

ianch99 · 02-09-2022, 13:14

Another post:

Quote:

Email this morning from a grassroots music venue who received their new energy quote yesterday.

Previous bill: £10,000.
New Bill: £144,000.

They are handing the keys back to the landlord. Today.

I have no way of verifying these numbers but I see no real advantage in faking this.

denphone · 02-09-2022, 13:30

Quote:

Originally Posted by ianch99

Another post:

I have no way of verifying these numbers but I see no real advantage in faking this.

Given these type of energy quotes would apply to the vast majority of businesses unless something radical is done very quickly l can foresee a tsunami of business closures.

**Paul** · 02-09-2022, 14:11

Quote:

Originally Posted by ianch99

I have no way of verifying these numbers but I see no real advantage in faking this.

They must have been on a good deal before.

Wholesale electricity used to bounce around a bit between 4p and 9p per kwh.
Then in Sept 2021 it rose a bit, and for the next 9 months, bounced around again, mostly between 12p and 20p (with a couple of 35p peaks).
In July 2022 it started to steadily rise, reaching 55p last week. Atm, its dropped to 33p.

1andrew1 · 02-09-2022, 15:54

Quote:

Originally Posted by denphone

Given these type of energy quotes would apply to the vast majority of businesses unless something radical is done very quickly l can foresee a tsunami of business closures.

Agreed - time is of the essence.

Taf · 02-09-2022, 16:08

Panic-buying was evident in a local supermarket. Shelves stripped of toilet paper, canned goods, flour, bottled water, pasta, and many other items. I thought it was a problem with restocking until I looked around the car park and saw many cars and vans being loaded from multiple trolleys.

I often buy new winter quilts around this time. I had to climb to the top of shelving to get the last 13.5tog ones. The stock shelves had only 8tog ones left.

ianch99 · 02-09-2022, 16:35

Quote:

Originally Posted by Paul

They must have been on a good deal before.

Wholesale electricity used to bounce around a bit between 4p and 9p per kwh.
Then in Sept 2021 it rose a bit, and for the next 9 months, bounced around again, mostly between 12p and 20p (with a couple of 35p peaks).
In July 2022 it started to steadily rise, reaching 55p last week. Atm, its dropped to 33p.

Something is not quite right then:

https://twitter.com/EdwardsofConwy/s...55345170731008

Quote:

Last year I spent £129,000 on #energy I received this quote yesterday for £782,011. £2,500 a week to £15,000 a week!

1andrew1 · 02-09-2022, 17:29

Quote:

Originally Posted by Paul

They must have been on a good deal before.

Wholesale electricity used to bounce around a bit between 4p and 9p per kwh.
Then in Sept 2021 it rose a bit, and for the next 9 months, bounced around again, mostly between 12p and 20p (with a couple of 35p peaks).
In July 2022 it started to steadily rise, reaching 55p last week. Atm, its dropped to 33p.

There's also a likely hike in standing charges to consider as well, to bail out the likes of Bulb.

jfman · 02-09-2022, 17:36

Because domestic energy has a cap, could it be businesses are being forced to make up the shortfall for energy companies?

Taf · 02-09-2022, 17:59

Quote:

Originally Posted by jfman

Because domestic energy has a cap, could it be businesses are being forced to make up the shortfall for energy companies?

Very probably. They have to pay their bills to the wholesalers. The energy market is very convoluted, with daily prices, week-ahead, month-ahead, etc. You have to be a bit of a soothsayer to get the best deals.

Jaymoss · 02-09-2022, 19:20

Quote:

Originally Posted by Paul

They must have been on a good deal before.

Wholesale electricity used to bounce around a bit between 4p and 9p per kwh.
Then in Sept 2021 it rose a bit, and for the next 9 months, bounced around again, mostly between 12p and 20p (with a couple of 35p peaks).
In July 2022 it started to steadily rise, reaching 55p last week. Atm, its dropped to 33p.

any chance you can shrink this image but it is blowing up my browser

**Paul** · 02-09-2022, 21:25

Quote:

Originally Posted by ianch99

Something is not quite right then:

105p per KW is bad enough (and OTT) but a standing charge £59 per day (!) - someone is taking the pee.

GrimUpNorth · 02-09-2022, 21:32

Quote:

Originally Posted by Paul

105p per KW is bad enough (and OTT) but a standing charge £59 per day (!) - someone is taking the pee.

And if this is widespread it's only going to end badly for many many companies.

ianch99 · 02-09-2022, 23:35

Another post from a small restaurant owner:

Quote:

my current energy bill for my tiny 22 cover restaurant is £2,928 a year. This is my new quote. Unsure what to actually do next but as a business that cost would now be more than I pay in rent and more than I take some months. I simply don’t have the money for this.

richard-john56 · 03-09-2022, 15:53

Who is making all the money from these hikes.

heero_yuy · 03-09-2022, 16:06

Quote:

Originally Posted by richard-john56

Who is making all the money from these hikes.

Mainly those getting the stuff out of the ground. The rest are just percentage merchants and as we've seen some of those got it wrong and went to the wall.