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Energy prices


Dr.Spaceman
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15 minutes ago, r0cafella said:

Investors get paid, consumers hold the bag. Tory economics. 

Everything from that period has been exposed for what the opponents said it was.

The privatisation of the rail network too - prices rise every single year by at least 4%, ordinary people can't afford to use trains any more, shareholders make a killing, we pay for the upkeep of the infrastructure, the private companies reap the dividends from the pricing. Bingo!

Like everything from that period it's a costly failure. 

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Theres now a single supplier willing to quote for a customer I have in Wolverhampton using 20k units of electricity per year.

 

Theyre unwilling to quote for a 1 year term  - not sure an £1800 price cap will cover this. Add in the gas increases....

 

And its still not even winter.

 

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Edited by Lazarus

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1 hour ago, leffe186 said:


I know that, but it’s a genuine question - what are the benefits to taxpayers? There was talk of investment in infrastructure etc.

No benefits, like always they lied to line pockets of the donors and investor class. 

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Guest neesy111
1 hour ago, r0cafella said:

No benefits, like always they lied to line pockets of the donors and investor class. 

It's privatised on 4 different layers as well.

 

National grid make a fortune each year.

 

 

Edited by neesy111

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  • 2 weeks later...
On 21/12/2021 at 12:25, Lazarus said:

Another big jump in pricing.

 

Scottish Power are now the only business supplier offering unit prices under 30p per unit for electricity for 1 year contracts - but that cos theyve increased the standing charge to almost 65p.

 

The domestic price cap will have to be higher than forecast - I'm guessing around £2400 - absolute madness this :(

It's not really an effective price cap if it can be raised.

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It's not an effective cap if it just gradually leads all suppliers to bankruptcy either. The govt know what they are doing here, they know there is little sympathy out there for energy companies so they keep consumer prices low while burning up the private capital left in the businesses (essentially the opposite to what Rocafella said). If they squeeze too hard, then eventually the large suppliers will throw in the towel and the government will be faced with becoming the effective supplier of last resort- either being responsible putting up prices or subsidising energy prices. They need to ensure that the big boys stay in the game- partly to remain the public face of price rises and partly to take some of the pain while prices remain elevated.

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They will fall - the question is when.

 

There was a big spike in pricing just before xmas and every supplier bar one withdrew their prices. Prices then fell but now that suppliers are starting to reissue their pricing books, prices have actually gone up even further.

 

I dont think weve seen the last of price rises as the russian/german pipeline still isnt online. If youre asking when prices will fall then it could be by summer/autumn.

 

More suppliers will fail in the meantime, meaning more upheaval and more risk passed onto customers. Together Energy will be the first if rumors are true.

 

 

 

 

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Loads of LNG tankers changed course and headed for Europe rather than Asia when prices spiked which helped reduce pricing pressure.

 

We need to take a serious look at our reliance on Natural Gas as the dominant fuel source for both heating and power otherwise we will continue to be at the mercy of price volatility.

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Guest neesy111
3 minutes ago, Matt said:

Loads of LNG tankers changed course and headed for Europe rather than Asia when prices spiked which helped reduce pricing pressure.

 

We need to take a serious look at our reliance on Natural Gas as the dominant fuel source for both heating and power otherwise we will continue to be at the mercy of price volatility.

 

The issue is electric heat pumps are ridiculous in price still.

 

As insulate Britain rightly point out, buildings and homes in UK are some of the worst insulated buildings in Europe as gas was so cheap because of North sea fields which we've wasted for short term gains.

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6 minutes ago, Matt said:

Loads of LNG tankers changed course and headed for Europe rather than Asia when prices spiked which helped reduce pricing pressure.

 

We need to take a serious look at our reliance on Natural Gas as the dominant fuel source for both heating and power otherwise we will continue to be at the mercy of price volatility.

 

Thats how that part of the industry has always operated. The tanker puts to sea and the auction begins for its contents. Ive know them make several course corrections as the auction progresses!

 

Were stuck with natural gas for a few years yet until at least Hickley Point gets fired up.

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3 minutes ago, midds said:

What would the advice be to customers of companies who are under immediate threat? Stick or twist? Asking for a friend. 

 

Stick. As long as you dont renew on a new contract with a new supplier then price cap applies.

 

Any credit balance will transfer over, but by all means withdraw it if needed.

 

The time for any possible 'twisting' is if the price cap rises sufficiently in April so it is higher than a regular tariff.

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Guest neesy111
1 minute ago, midds said:

That's what I thought :thup:

 

Move voluntarily and get lumped on a ridiculous tariff? 

 

I think all the tariffs you can choose are higher than the price cap.

 

 

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The business side is even more insane as theres no price cap protection.

 

Ive dealt with several local SME's where the energy bill was 25% of their revenue BEFORE all this kicked off.

 

And once your contract ends, you have to renew your contract at double or treble the rates. If you choose to stay out of contract then its 4 or 5 times. A couple of suppliers were briefly offering 6 month contracts when prices first rocketed but these have been pulled. BG has started offering a 30 day tariff but this will still be sky high.

 

There are also some businesses (usually huge users) who buy their energy on a flexible basis instead of on a fixed price for a fixed period basis. The idea being that they buy the dips but at the moment, this will be costing them an absolute fortune. This is probably why those fertiliser companies kicked off about rising prices a while back.

 

The whole industry is fucked.

 

 

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