Energy Prices (Strictly NO referrals!)

[wildman]

I just don't see anything different today than what we've seen in past decades. History repeating itself as it always does.

There are always lots of people who can afford an OK to great lifestyle. We won't see a breakdown in law and order because a small percentage of people can't pay bills. Anyone who can't pay for electricity and gas gets cut off. That's it, nothing more, nothing less.

It's not a small percentage though is it............

prior to COVID approx 14.5 million people in the UK were considered to be living in relative poverty. Seeing their utility bills go up to as much as 500 a month means they will move from relative poverty likely to absolute poverty, and those already in absolute pvoerty will be considered destitute. That is not a small number. I don't think you have a grasp on the actual reality of peoples actual financial status in this country.

 

[Surveyor]

Octopus Energy asks government for £1bn to buy Bulb

The firm is seeking the funds, which will be paid back, to take over the collapsed firm.

www.bbc.co.uk

 

[chrcoluk]

I guess there is money in this business if they think buying bulb for 1 billion is value for money.

 

[GIBURROWS]

I guess there is money in this business if they think buying bulb for 1 billion is value for money.

It's tax payer money so it's a no lose situation.

 

[gpuerrilla]

Yeah really low risk and the gov is going in on it too, hard to lose.

 

[Richie]

I

Anyone better at this than me think it's worth me fixing... Current deal then fixed deal below:

Roughly a 55% increase in payment (this doesn't include the £66/month discount from the government for 6 months)

Worth fixing?

I went ahead and fixed this today so I start on the new tariff.tomorrow.

If the cap doesn't go high then I'll come back out with no exit fees.

 

[chrcoluk]

The gas on that fix might be a bit lower than the cap, I think the electric cap will be lower than the deal.

 

[Puzzled]

Would be good to know if you can exit a fixed price contract and revert to SVR with the same supplier, takes all the risk out of it if there are no exit fees.

 

[Richie]

Yeah Elec is a fair jump but hedging my bets with price cap announcement in August.

If it doesn't work out, I'll just go back to the SVR as no exit fees

 

[Zenduri]

Hinkley B turned off today so we lose 3% production which surprise surprise now needs to be backfilled by gas fired power stations during an energy price crisis driven by gas prices....

Hinkley B: UK's most productive nuclear power plant closes

Hinkley Point B has shut down permanently, after 46 years generating electricity.

www.bbc.co.uk

Yes its well past its original lifespan but if its operated for 15 years, safely, past its original operation expectation then it would make sense during the current crisis to at least keep it running for another year!

 

[HungryHippos]

Yes I don't understand why they've turned it off, give it a safety check but if it's safe to do so, another year should be fine operationally.

Edit - to clarify I do understand why they've turned it off for safety reasons, but I think the plant could have been carefully inspected and signed off for another year of service. At least through the winter would make a big difference.

 

[theone8181]

Yes I don't understand why they've turned it off, give it a safety check but if it's safe to do so, another year should be fine operationally.

Edit - to clarify I do understand why they've turned it off for safety reasons, but I think the plant could have been carefully inspected and signed off for another year of service. At least through the winter would make a big difference.

Almost like it's a conspiracy to keep prices artificially high .

 

[200sols]

Almost like it's a conspiracy to keep prices artificially high .

More like decades of underinvestment has left us in a dire position.

 

[GIBURROWS]

Almost like it's a conspiracy to keep prices artificially high .

But who could possibly earn money out of that.....

 

[theone8181]

But who could possibly earn money out of that.....

I wouldnt mind if the profits just announced weren't record breaking.

 

[GIBURROWS]

I wouldnt mind if the profits just announced weren't record breaking.

It's got to the point where only a revolution fixes this, as someone alluded to earlier the government will give out scraps to calm the rabble but the "problem" will carry on. I'd love to see a shareholders list of these energy companies.....

 

[200sols]

It's got to the point where only a revolution fixes this, as someone alluded to earlier the government will give out scraps to calm the rabble but the "problem" will carry on. I'd love to see a shareholders list of these energy companies.....

I expect many forum members are. Where is your pension invested?

 

[Doobedoo]

I expect many forum members are. Where is your pension invested?

Now we know where all these super cars are coming from

 

[Simon]

Yes I don't understand why they've turned it off, give it a safety check but if it's safe to do so, another year should be fine operationally.

Edit - to clarify I do understand why they've turned it off for safety reasons, but I think the plant could have been carefully inspected and signed off for another year of service. At least through the winter would make a big difference.

It’s a nuclear power plant. It’s not just running a car for another year !

 

[Puzzled]

It’s a nuclear power plant. It’s not just running a car for another year !

Bit of duck tape will see it through