Energy Prices (Strictly NO referrals!)

platinum87 · 29 Aug 2022 at 04:45

Surveyor said:
Planned blackouts are part of the planning for a worst case scenario.

I dont believe that is the worse case scenario, the much worse scenario is prices being £1.

If somehow demand can support those prices, then demand must be artificially lowered.

Already at current prices, we should see a drop in demand, and, come October, the demand drop should be in the double digits.

However the government will print money to give to people to pay these prices, inflation will be double digit average for this decade.

Rroff · 29 Aug 2022 at 05:51

Had to laugh

https://twitter.com/x/status/1563651460587524098

Jokester · 29 Aug 2022 at 06:00

SDK^ said:
Think you mis-read the information. The ‘high confidence ‘ point was that it wasn’t going to be any lower.
it’s the same with the expected Jan and April 23 prices now.

Should I fix my energy or stay on the Price Cap?

Money Saving Expert Martin Lewis walks you through whether it's better to fix your energy with a new tariff or to stick on the regulator's Price Cap.

www.moneysavingexpert.com

Doesn’t saying about it only being the minimum increase, just the prediction based on their data source at Cornwall Insight.

glenimp617 · 29 Aug 2022 at 07:14

I'm really confused. Considering we've known about climate change since the 1980s, and Putin being not all he's made out to be since the early 2000s, how come we don't have more solar farms and nuclear power plants? and why hasn't the building regs changed to mandate all newbuilds have solar panels? We've just had one hell of a summer!

There's been plenty of money to spend. Maybe it's local councils refusing the plans as they don't want them building near their towns and villages?

I guess at least this is a taste of things to come.

Kill_Phil · 29 Aug 2022 at 07:21

TheOracle said:
I'm really confused. Considering we've known about climate change since the 1980s, and Putin being not all he's made out to be since the early 2000s, how come we don't have more solar farms and nuclear power plants? and why hasn't the building regs changed to mandate all newbuilds have solar panels? We've just had one hell of a summer!

There's been plenty of money to spend. Maybe it's local councils refusing the plans as they don't want them building near their towns and villages?

I guess at least this is a taste of things to come.

Because successive governments like to kick the can down the road. Serving is a popularity contest these days and as a party why spend all your budget on something you'll never see

System is broke and it seriously needs fixing. This could be the start of that but won't hold my breath

glenimp617 · 29 Aug 2022 at 07:23

Kill_Phil said:
Because successive governments like to kick the can down the road. Serving is a popularity contest these days and as a party why spend all your budget on something you'll never see

System is broke and it seriously needs fixing. This could be the start of that but won't hold my breath

If true, my future grandchildren are dead already then.

Kill_Phil · 29 Aug 2022 at 07:28

TheOracle said:
If true, my future grandchildren are dead already then.

It does seem rather bleak and mainly caused my some half dead mad man's ambitions to bring back the mighty soviet once again. If this doesn't give everyone the wake up call and heavily invest in becoming self dependent, then yes we are truly screwed

m4rmite · 29 Aug 2022 at 07:29

Seems Scottish Power are getting edgey.

Thanks for choosing to pay by Direct Debit. Please be aware that from now on, if we’re unable to collect your payment on the date it’s due, we may apply a £5 administration fee as per our T&Cs.

GIBURROWS · 29 Aug 2022 at 07:32

m4rmite said:
Seems Scottish Power are getting edgey.

Thanks for choosing to pay by Direct Debit. Please be aware that from now on, if we’re unable to collect your payment on the date it’s due, we may apply a £5 administration fee as per our T&Cs.

Can they change their terms and conditions like that?

the wopster · 29 Aug 2022 at 07:35

GIBURROWS said:
Can they change their terms and conditions like that?

AFAIK T&C can be changed as long as a certain notice period is given

Semple · 29 Aug 2022 at 07:49

TheOracle said:
I'm really confused. Considering we've known about climate change since the 1980s, and Putin being not all he's made out to be since the early 2000s, how come we don't have more solar farms and nuclear power plants? and why hasn't the building regs changed to mandate all newbuilds have solar panels? We've just had one hell of a summer!

There's been plenty of money to spend. Maybe it's local councils refusing the plans as they don't want them building near their towns and villages?

I guess at least this is a taste of things to come.

Nimbyism

dcsarge · 29 Aug 2022 at 07:49

Oh joy, as expected our OFTM fix is ending in October and we just had the the email from them offering to fix a new deal.

Electric (9699kwh) standard £2944 p.a fixed £7353 p.a

Gas (10711) standard £900 p.a fixed £2174 p.a

Like Labrat I really regret listening to Martin Lewis earlier on but even then changing to a £300+ tariff so early on in the year would have hurt. It was a no win. Waiting meant at least I could clear some some outstanding debt for unexpected thing in the new year.

Doobedoo · 29 Aug 2022 at 07:53

Semple said:
Nimbyism

No capitalism is at fault. It doesn’t matter if we had more solar farms, off shore wind farms and nuclear power plants. It would all be owned by private corporations and would still be sold on the open market. The market price needs addressing immediately, we need the wholesale market price to be frozen for the foreseeable.

XeNoNF50 · 29 Aug 2022 at 08:00

Doobedoo said:
No capitalism is at fault. It doesn’t matter if we had more solar farms, off shore wind farms and nuclear power plants. It would all be owned by private corporations and would still be sold on the open market. The market price needs addressing immediately, we need the wholesale market price to be frozen for the foreseeable.

Yeah correct, it would still mostly all be sold at open market prices. UK Government could probably make it law something close to energy produced in the UK cannot be sold above cost of production + some incentive to produce but they're not going to do that.

BUDFORCE · 29 Aug 2022 at 08:05

Doobedoo said:
No capitalism is at fault. It doesn’t matter if we had more solar farms, off shore wind farms and nuclear power plants. It would all be owned by private corporations and would still be sold on the open market. The market price needs addressing immediately, we need the wholesale market price to be frozen for the foreseeable.

Yea this is part of it, wind farms solar farms etc are built using private investment, it's just begging for trouble.

Half of me thinks, if all this money is spend on solar etc, and demand is exceeded and energy prices go down, it will take longer for these companies to get a return on their investment, and rich people don't get their money back as fast.

200sols · 29 Aug 2022 at 08:08

BUDFORCE said:
Yea this is part of it, wind farms solar farms etc are built using private investment, it's just begging for trouble.

Half of me thinks, if all this money is spend on solar etc, and demand is exceeded and energy prices go down, it will take longer for these companies to get a return on their investment, and rich people don't get their money back as fast.

They made those investments knowing the payback period, nobody invested thinking prices would spike 3-400%.

Harnser · 29 Aug 2022 at 08:09

GIBURROWS said:
Can they change their terms and conditions like that?

It's not a change, it's an enforcement of their T&C's. Which they've overlooked to now because who wants to **** off customers in easy times?

BUDFORCE · 29 Aug 2022 at 08:09

200sols said:
They made those investments knowing the payback period, nobody invested thinking prices would spike 3-400%.

Yea but, what a "happy accident" right?

Doobedoo · 29 Aug 2022 at 08:10

It’s just needs all the major governments around the World to sit around a table and realise that this is bad for each of their respective countries. They have the power to do something about the wholesale price and they could freeze it if they wanted. Letting it continue as it is is going to place at least Europe into a recession. They must realise that, that can be good for all their cronies bottom lines either. Something needs to done to address spiralling prices, hand outs and band aids are extremely short term and will not address the route issues.

Caracus2k · 29 Aug 2022 at 08:10

TheOracle said:
I'm really confused. Considering we've known about climate change since the 1980s, and Putin being not all he's made out to be since the early 2000s, how come we don't have more solar farms and nuclear power plants? and why hasn't the building regs changed to mandate all newbuilds have solar panels? We've just had one hell of a summer!

There's been plenty of money to spend. Maybe it's local councils refusing the plans as they don't want them building near their towns and villages?

I guess at least this is a taste of things to come.

Solar panels, just like wind power, and especially in mass deployments cause more problems than they solve. Intermittent, cause problems with load balancing on power grids, no feasible way to currently store anything like enough energy in batteries or similair in most locales on the earth to cover peaks and troughs of supply and demand and very dubious ROI's in the areas of the earth further from the equator.