Energy Prices (Strictly NO referrals!)

HungryHippos said:
A lot of the current standing charge is covering debts owed to people by fallen suppliers and such, so in theory the SC should come down a lot once that is balanced out.

Obviously it's never going to be zero.
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Who's policing the payment of that debt I wonder? I often wonder why we had to shoulder that burden in the first place, perhaps we should all chip in whenever a company is struggling.
 
kinetic747 said:
Who's policing the payment of that debt I wonder? I often wonder why we had to shoulder that burden in the first place, perhaps we should all chip in whenever a company is struggling.
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Privatise profits and nationalise debt is normally how it works isn’t it?
 
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kinetic747 said:
Who's policing the payment of that debt I wonder? I often wonder why we had to shoulder that burden in the first place, perhaps we should all chip in whenever a company is struggling.
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Well if you put it on the government then we all pay it via taxes, if you write it off then people lose their deposits with the suppliers.

Probably just had to make everyone pay it like this.
 
HungryHippos said:
Well if you put it on the government then we all pay it via taxes, if you write it off then people lose their deposits with the suppliers.

Probably just had to make everyone pay it like this.
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indeed... which is precisely why vital services should never be privatised because when the sun shines the profits go to investors but when the crap hits the fan we have to pay for it anyway. it's the worst of both worlds.

all the risk but no rewards
 
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Octopus walked off with all the bulb clients but not the responsibility to repay the 5Bn (was it) tax payer debt associated with them, they get an economy of scale and premier league position in the market,
subject to current legal actions.

Ofgen discussed making standing charge fairer for those on pre-payment meters , getting rid of VAT, and only including genuine distribution costs ... but energy companies prefer the staus quo.
 
Mercenary Keyboard Warrior said:
Are you 100% certain on that SC? Its basically double what I know anyone else is paying.
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Positive... Snipped from recent bill (Gas and Elec)

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74.21p/day or £23/month (I was 3p out for some reason) :confused:
 
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moreover analogous bail out fee on the water bills soon - wouldn't mind being able to swim in sea/rivers
Stopping the dumping of sewage into rivers and the sea will require huge infrastructure spending and will probably push up water bills, according to a new House of Lords report.
Raw sewage discharge through storm overflows is meant to be an emergency last resort during heavy rain but the government says it happens too often.
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Cornwall/invision now came out with a new £2K cap for 3/4th quarter https://www.cornwall-insight.com/pr...s-to-the-governments-announcement-on-the-epg/

but, what could possibly go wrong .... well china can increase gas demand or russia reduce supply.
think.ing.com

Energy Outlook 2023: Drastic shift in natural gas outlook

European gas prices have collapsed over the Northern Hemisphere winter. Mild weather and weak industrial demand have ensured that gas storage has remained…
think.ing.com think.ing.com
www.reuters.com

Gazprom's gas exports to Europe up 6% in March so far vs February - Reuters calculations

Gazprom's gas supplies to Europe were up 6% on a daily basis during the first 15 days of March compared to February levels, according to Reuters calculations based on shipment data from Gazprom's daily transit volumes sent through Turkey and Ukraine.
www.reuters.com www.reuters.com
There are two key upside risks to our new forecasts. Firstly, the bulk of Russian gas flows to the EU have already been halted. However, there is still the risk that flows via Ukraine and possibly even through TurkStream are stopped. If this was to occur, Europe could lose 15-20bcm of gas on an annual basis, which is still a sizeable volume. This would need to be made up either by further LNG imports or through higher levels of demand destruction. Both would likely require prices to move higher from current levels.

The second key risk is related to Chinese LNG demand. We are assuming only a marginal recovery in Chinese import demand this year (a little over 10%), rather than returning to 2021 levels. If Chinese demand surprised to the upside, this would mean a tighter-than-expected LNG market, increasing the need for Europe to compete more aggressively with Asia for supply. This would also mean higher-than-expected prices.
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jpaul said:
moreover analogous bail out fee on the water bills soon - wouldn't mind being able to swim in sea/rivers
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it was a long time ago now so i apologise if i got this wrong but.

wasnt the promise to radically improve / modernise our entire water treatment infrastructure part of the deal for actually privatising water? ie it would be run so much better this would happen automatically because a modern quality infrastructure would ultimately be a more profitable one.

utter BS i know but am sure that was the promise

ultimately it needs to be done..... but.... i know when rail services are run poorly the government can forcibly confiscate their contract. I think this should happen with water (and all privatised infrastructure) if it needs to be bailed out by public money then it should be taken back and when profitable again the money goes into the public coffers.

this is absolutely out of my wheel house so i am probably talking nonsence!.
 
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So this Octupus gas tracker, i just joined the waiting list, probably get on it around September, does this effect electricity as well?
 
It's my first time having to look into energy prices as I've managed to most of the time stick my head in the sand and avoid the subject as I've always lived with family. With a 2 person household, one working from home and some quick calculations on usage and cost it seems that Octopus would work out cheaper than the current supplier Ovo. The general gist seems to be to avoid Ivo from what I've read so I'm planning on joining the club and waiting out for the tracker rate. I have to admit I'm rather relived you guys have been here as some of the discussions have been rather helpful on my decision making.
 
robinbanks said:
It's my first time having to look into energy prices as I've managed to most of the time stick my head in the sand and avoid the subject as I've always lived with family. With a 2 person household, one working from home and some quick calculations on usage and cost it seems that Octopus would work out cheaper than the current supplier Ovo. The general gist seems to be to avoid Ivo from what I've read so I'm planning on joining the club and waiting out for the tracker rate. I have to admit I'm rather relived you guys have been here as some of the discussions have been rather helpful on my decision making.
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Octopus are great in general (at least in my opinion) so far.

Make sure you get a referral code if you switch, it gives you each £50 bill credit.
 
jpaul said:
Octopus walked off with all the bulb clients but not the responsibility to repay the 5Bn (was it) tax payer debt associated with them, they get an economy of scale and premier league position in the market,
subject to current legal actions.

Ofgen discussed making standing charge fairer for those on pre-payment meters , getting rid of VAT, and only including genuine distribution costs ... but energy companies prefer the staus quo.
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Was this a public consultation or industry only?

Not sure if VAT would be part of ofgem's remit.

The Octopus acquisition of bulb does seem dodgy, Octopus would argue I supppose if they had to inherit the bill then they would simply pass it on to their customers which would have absolutely forced the government to concede.
 
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