UK Energy Prices

[tweetiepooh]

Once the mortgage was paid off and so also not paying into the endowments we had "spare" in our monthly pot. We put most of that into savings with a little bit used for spending rather than increasing our lifestyle to match our newly increased spare finance.


Generally we have been fortunate that when big bills have hit we have had the resource to meet them. We are also able at this time to be hospitable. It's even more fun to be generously hospitable to those who can't return the favour (but without making them uncomfortable). Hospitality is about the guest rather than entertaining where focus is more on the host.

[jfman]

Originally Posted by 1andrew1

The CBI gets the urgency of the situation.

https://www.theguardian.com/business...p-energy-bills

One can only reach the conclusion that the Tories are all in for one last hurrah at extracting the wealth of the British people into private multinational companies. Even the miserly £400 is simply siphoning taxpayers money into them. While barely touching the sides of the problem.

[Jaymoss]

Originally Posted by jfman

One can only reach the conclusion that the Tories are all in for one last hurrah at extracting the wealth of the British people into private multinational companies. Even the miserly £400 is simply siphoning taxpayers money into them. While barely touching the sides of the problem.

you say that but for me the £400 means I do not need to up my direct debit till after they finish paying it so it means a lot to me

[TheDaddy]

Interestingly the wholesale price is 40% down on what it was in March, be interested to hear what excuse they come up with to keep the prices high next year

[Jaymoss]

Originally Posted by TheDaddy

Interestingly the wholesale price is 40% down on what it was in March, be interested to hear what excuse they come up with to keep the prices high next year

well in theory it should come down with the cap in April. We live in hope

[Taf]

Some interesting bits of info ;


Nearly 120 wind turbines catch fire each year in the UK, according to research in 2014 - ten times the number reported by the industry.

Actual figures:

The researchers claim that out of 200,000 turbines around the world, 117 fires take place annually - far more than the 12 reported by wind farm companies.

So roughly 1 in 2,000. I’m not altogether sure what’s so scandalous about that, especially given the relatively youthful state of the technology. Plus, they tend to be located out of harm’s way.

[1andrew1]

Devil's in the detail on how this might work - that's the beauty of being in opposition - but at least they see the urgency of the situation.

Lib Dems call for parliament to be recalled to pass bill scrapping rise in energy price cap

The Energy Price Cap Increase (Cancellation) Bill would make Ofgem maintain the existing rates, saving households an average of £1,400 this year, the Lib Dems said.

The Liberal Democrats are demanding parliament be recalled from its summer recess to pass a law to scrap impending hikes in energy prices.

The party has drafted legislation to cancel the price cap rise, which is due to be announced at the end of the month and coming into force in October.

The Energy Price Cap Increase (Cancellation) Bill would make Ofgem maintain the existing rates, saving households an average of £1,400 this year, the Lib Dems said.

The bill would also make the government produce a report into extending and backdating the windfall tax on oil and gas company profits to help cover the cost.

Liberal Democrat leader Ed Davey said: "People are worried sick about the next staggering rise in energy bills which is just round the corner.

"Yet we are faced with a deafening silence from the prime minister and chancellor, while both Conservative leadership candidates have failed to come up with a bold plan to solve this crisis.

"The Liberal Democrats have prepared legislation that is ready and waiting to implement our plans to scrap the energy price rise. Parliament must be recalled now so we can pass this law as soon as possible."

https://news.sky.com/story/lib-dems-...e-cap-12669040

Originally Posted by Taf

Actual figures:

Originally Posted by Chris

So roughly 1 in 2,000. I’m not altogether sure what’s so scandalous about that, especially given the relatively youthful state of the technology. Plus, they tend to be located out of harm’s way.

https://www.cableforum.uk/board/show...4#post36130214

[Jaymoss]

82% predicted now FGS. This is just stupid

Would not be surprised if it creeps up to 90+% by October

Must admit it is really affecting my mental health

[nomadking]

Link

Which brings onto the question of why isn’t this lowering our bills?
The prime reason why you aren’t going to pay less money to heat your home or hot water tomorrow, despite gas being cheaper, is that most suppliers buy well in advance.
They can’t take advantage of low day ahead prices and pass them on to you, because they have already agreed a price for the gas and electricity that you will use tomorrow.

[jfman]

Doesn't sound very free market it sounds like the public getting strung up. Prices go up: you pay. Prices go down: you still pay.

[Jaymoss]

estimates are now 19% for January as well

What are these % figures you are quoting related to ?

[jfman]

Originally Posted by Paul

What are these % figures you are quoting related to ?

The estimates (from Cornwall Insights) for the energy price “cap” rise.

Generally their estimates are the ones used in the headlines and they seem to be publishing them almost weekly.

My fix from last August is up in a few weeks and I took the deal offered for 12 months (about a 70% over the current variable rate). It looks like it’ll get there in October and go 20% over that figure in January and remain so well into next year.