Energy Prices (Strictly NO referrals!)

Rroff said:
Obviously it isn't uncommon with younger people to not have their head around politics but also I find a lot of younger people, even those clued up, are somewhat in the political wilderness and many find the mainstream parties alien to their political position and/or might vote for some of the smaller parties due to some shared ideologies for instance environmental issues, but don't really see eye to eye with those parties either.
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its really difficult. I am middle aged so neither one end or the other (a bit like my politics ;) ) but because of the system we are in no one represents me really, or more accurately no one who has a remote chance of getting a seat where I live.

And that is even forgetting the issue of competency and honesty before we even consider which direction we normally swing.

Bottom line for me my choice really is red or blue...... yellow or green is really a wasted vote again thanks to 1st past the post. IF it was proportional I would be much happier voting for who i want, but for now I guess it is voting for who you least dislike who has a chance of getting in. This does not sit well with me at all, but is probably the biggest lesson in politics. Dont vote for who you want, but who you think stands a chance but who you least dislike. Not a very positive view tho imo.

back to topic at hand.... in the medium and certainly long term I think we are in a really good position for energy. With the North Sea link as well as the connection to France I believe with the right investment the UK will do well in renewable Energy generation.

we just need to get through the next few years......
 
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purplesky said:
It's not nonsense. History tells us otherwise
Do you have a large mortgage or debts that you will be unable to pay should rates increase by any chance?
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No, I just choose to listen to a consensus of financial experts rather than people on ocuk who think they are the world's best economist. Interest rate rises benefit me, I have lots of savings but I'm still realistic.
 
200sols said:
No, I just choose to listen to a consensus of financial experts rather than people on ocuk who think they are the world's best economist.
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A friend (who is a senior banker) recently told me that rate rises will kill those with large debts, whilst low rates will kill everyone. He's right.
And those world's best economists all have vested interests whom have been proven to have been wrong far more than they've been right.
 
purplesky said:
A friend (who is a senior banker) recently told me that rate rises will kill those with large debts, whilst low rates will kill everyone. He's right.
And those world's best economists all have vested interests whom have been proven to have been wrong far more than they've been right.
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I am fortunate my mortgage is paid off (i dont have a too lavish house and its in the cheapest area in the vicinity and put money my late uncle and grandad left me into it)... but its strange how despite all this talk of interest rate rises.................. none of my savings seems to have suddenly upped their interest payments.
 
Unless you are on fixed terms move your money into a more competitive account. You can get 2.5% 1year fixes now but might hit 3% soon. Not inflation busting but better than earning 0.2% with your bank.
 
bigmike20vt said:
its strange how despite all this talk of interest rate rises.................. none of my savings seems to have suddenly upped their interest payments.
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What savings account have you got? My Marcus account has increased inline with base rate rises.
 
Rroff said:
Yup - strange how that takes a lot longer than when they slash payments (and/or you have to make a new savings account to benefit).
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I watched a video on this recently. Reason savings interest haven't gone up proportionly as banks aren't desperate for our money as they have so much of it right now as is. Due to the pandemic, less spending etc.
 
kona786 said:
I watched a video on this recently. Reason savings interest haven't gone up proportionly as banks aren't desperate for our money as they have so much of it right now as is. Due to the pandemic, less spending etc.
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It's the same with everything and companies, cost of petrol rises, straight away you see it at the pumps, but takes a long time to drop when the costs it's based off drop.
 
danlightbulb said:
Everyone notices. But what can you do about it? It's a captive market and should be strongly regulated.
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It is strongly regulated. Move your money if it isn't earning you anything as I said earlier. You don't have to stick with a crappy low interest account that is your choice.
 
danlightbulb said:
Everyone notices.
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I dont think they do. Everyone means 100%. People are now talking to me in various circles about the prices and cost of living, I was mentioning this to the same folk a year ago and it was going in one ear out the other. They didn't notice. Now they do, its a big deal..
 
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