Sure, but £23 off a £1k+ electricity bill (avg use) isn’t cutting it.
My method saves 43% off that !
Energy Prices (Strictly NO referrals!)
- Thread starter DXP55
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Sure, but £23 off a £1k+ electricity bill (avg use) isn’t cutting it.
My method saves 43% off that !
Soldato
So update on my solar month 2
Elec Bill, £97.26, less savings session revenue* and value of solar diverted to hot water at £63.1 = net cost £34.16
Units imported/generated = 647.92.
Cost per kwh £0.053
Generated saving in month of £186.13 vs buying all my units at 34p standard tariff.
*Sure this may be contentious to some, but the solar and batteries directly allowed me to make this amount. Even without this I would have a unit cost of £0.15/kwh
Elec Bill, £97.26, less savings session revenue* and value of solar diverted to hot water at £63.1 = net cost £34.16
Units imported/generated = 647.92.
Cost per kwh £0.053
Generated saving in month of £186.13 vs buying all my units at 34p standard tariff.
*Sure this may be contentious to some, but the solar and batteries directly allowed me to make this amount. Even without this I would have a unit cost of £0.15/kwh
read the report , just because at source generation costs are cheaper the infrastructure to carry those units are no cheaper than the gas generated units,
so with standing charge (whose current components are controversial anyway) 43% isn't what the customer sees .. whats a link to the article you are referencing.
There is no article - it‘s an option to change the way pricing is applied to electricy bills.
The scenario is:
- 48% of a customers electricity bill is paid at 50p kWh for the gas generated electricity
- 52% is paid at the next highest marginal generation, which is usually about 13p kWh (offshore wind)
The reason why this hasn’t been implemented yet is because Ofgem and BEIS can’t agree who is responsible for setting the pricing method for energy. Both are saying it’s the other party
Just needs the Government to intervene!
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Soldato
EEEK!
You do realise Grant Schapps is the new energy minister don't you.
Better to get another lettuce to decide.
Soldato
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This was promised I think i.e market reforms, but they have to get their cream before the public see anything happen.The critical action the Government can take now is demand the Gas price, which is setting the electricity price for all types of generation, be de-coupled.
A two tier energy pricing system should be created for electricity
-> Therefore reducing the overall electricity price to customers by about 43%, with no additional cost to the government or additional taxes required on companies.
- 42% of electricity in the last 12 months has been generated using gas, so that amount should be priced at the higher gas generated cost.
- 58% of electricity has come from other types of generation and should be priced much lower,
*This will only reduce the cost of electricity.
This diagram shows how the above would work:
It was promised in the Kwarsi budget which sank faster than the Titanic.
The image you posted has some sort of watermark on it, I presume @jpaul is just asking for a link to the article you took it from, that would surely be more useful and add some clarity to what you're advocating here if you were to add the link?
Soldato
Doesn't the premium (for market rate over cost to generate) or a fair chunk of it get taken away from the green producers and taken by the government?
I am pretty sure I saw something from Octopus about that happening so they couldn't undercut the suppliers mainly using fossils
In effect forcing them to peg to gas based elect generated prices, but then not allowing them to keep the majority of the profit.
Suits the government, take the extra and choose how/if/when to give it back to us.
I am pretty sure I saw something from Octopus about that happening so they couldn't undercut the suppliers mainly using fossils
In effect forcing them to peg to gas based elect generated prices, but then not allowing them to keep the majority of the profit.
Suits the government, take the extra and choose how/if/when to give it back to us.
Soldato
I am absolutely disgusted that the government are allowing energy companies to benefit from this surge in profits, yet allowing their population to freeze.
There should be a temporary tax on earnings for energy producers and resellers, proportional to the increase in profit over their normal yearly. And that should be used to help the people. This is what we really need government for - to help people in times of need, and this is a time of need.
There should be a temporary tax on earnings for energy producers and resellers, proportional to the increase in profit over their normal yearly. And that should be used to help the people. This is what we really need government for - to help people in times of need, and this is a time of need.
They've already implemented a temporary windfall tax. The problem is that it has no teeth. It only covers profits for the UK parts of their business. All the energy companies do is "move" their profits abroad. Boom, no tax payable in the UK.
I don't think the resellers are making much, if anything from this. Look at how many have gone bust. I think it's just the energy producers that are making all the profit.
quite surprised there haven't been widespread riots. I thought they'd be on the cards 6 months ago and things have got significantly worse. Record profits, doubling the previous years record profits, suppliers breaking the law to fit pre-payment meters to customers who contact them to say they are in financial trouble sounds like a final straw scenario but nothing (so far i guess).
And obviously the uk is a tiny country in the world so they get tax income accordingly. Why people in uk forget there is a world beyond our borders is beyond me.
‘
BP said it incurred total taxes of $15.1bn worldwide – it’s highest ever total – representing a tax rate of 34%.
In the North Sea, which accounts for less than 10% of global profits, BP said it will pay $2.2bn in 2022, including $700m due to the windfall tax, or Energy Profits Levy (EPL).’
Now look at how much shell pay in tax to uk.
‘
BP said it incurred total taxes of $15.1bn worldwide – it’s highest ever total – representing a tax rate of 34%.
In the North Sea, which accounts for less than 10% of global profits, BP said it will pay $2.2bn in 2022, including $700m due to the windfall tax, or Energy Profits Levy (EPL).’
Now look at how much shell pay in tax to uk.
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Looks like the government has pushed, before Octopus only reviewed once a year in April.
At least for shell a lot of profit (thought it was 50%) is made from trading, now although they have to declare what they sell the energy that comes out of UK territory for,
I don't understand how a situation where they might sell production virtually to a foreign intermediary who is hedging the price and then makes most of the profit, does not occur ? (and shell bosses have a few shares in that)
no one knew there was going to be a war so the company with that parcel in their hands when the music stopped must have become wealthy.
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Hope the press will be investigating some of the windfarm owners profits too
Annual report for 2022: Ørsted achieved strong operational performance and significant strategic progress
Man of Honour
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£140 this month, cheaper than last. Basically 2/3 electricity and 1/3 gas. That’s after the government reduction and price cap. Would be £480 otherwise, ridiculous.
Soldato
Yep on the 1st
£67 on the 2nd yes
We do not want to be putting companies off investing in renewables!