Energy Prices (Strictly NO referrals!)

Richie said:
Looking at Scotland, for instance. This region is considered a Net Exporter of Electricity in that it generates more than it uses overall and the rest is sent outwith this region to other regions who are then paying less in SC.

Is this region paying for the infrastructure to supply these other regions?
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No - electricity generators pay to connect to the grid not regions but some of that cost will be passed on to consumers as part of their standing charge. Producers in Scotland pay more because they are a long way from the demand/customers. Power stations in Pembroke also pay more for the same reason. Time was that power stations very close to cities got paid to connect to the grid because their proximity was technically and economically advantageous. This is called TNUoS, on the other hand Scottish generators have historically been the biggest recipients of constraint charges when they are paid for electricity the grid cannot take. Farr Wind farm was always the one that got headlines because it got paid it's ROCs and then was paid to turn off so it made more money from not operating than it did from operating.
 
McBain said:
BG making record profits, price cap is a scam as is Ofgem. We are being robbed blind.
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How are we?
I bet if there was no price cap & no EBSS in place over the past 12 months you'd be screaming to high heaven about the lack of price control.
I also assume you cared when BG were making yearly losses?
 
Heads up! New FIXED Tarrifs have just come in...

Here's mine

Flexible Octopus November 2022 v1
DAY RATE 38.72 p/kWh
NIGHT RATE 16.39 p/kWh
STANDING CHARGE
45.66p/day

NEW TARRIF
Unit rate (day) 36.17p /kWh
Unit rate (night) 15.31p /kWh
Daily standing charge
45.66p /day

Day rate is cheaper, night rate is cheaper although the Standing Charge still ****
It's £75 early exit fee

I'm on Council Solar Power, so a lot of the day usage is via solar :)
 
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Neil79 said:
Heads up! New FIXED Tarrifs have just come in...

Here's mine

Flexible Octopus November 2022 v1
DAY RATE 38.72 p/kWh
NIGHT RATE 16.39 p/kWh
STANDING CHARGE
45.66p/day

NEW TARRIF
Unit rate (day) 36.17p /kWh
Unit rate (night) 15.31p /kWh
Daily standing charge
45.66p /day

Day rate is cheaper, night rate is cheaper although the Standing Charge still ****
It's £75 early exit fee

I'm on Council Solar Power, so a lot of the day usage is via solar :)
Click to expand...

Thats an eco 7 I assume?
 
Anyway!

I've just fixed to the new Tarrif for ECO 7. As both DAY and NIGHT rate is lower, and most of the DAY is now done by Solar anyway :) - If it goes down a lot then I'll suck it up with the £75 exit fees!
 
200sols said:
It helps if you read past the first line.
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I think BG are being borderline misleading here. The bulk of the profit (£4.7bn) is actually attributable to movements in their hedging positions and "onerous energy supply contract provisions" which are directly linked to their energy supply business and not their funding structure. Essentially, they made a loss on those contracts in FY22 due to wholesale prices moving against them and have now made a gain as they have moved in their favour which makes their their supply business more favourable. In turn falling prices mean they have also reduced their onerous customer book (i.e. customers which cost more to supply than they receive due to fixed deals).

Even ignoring these gains they have still increased profits by £1bn or c50%, and have seen a similarly significant jump in EBITDA, EPS etc. I'm not a fan of including non-cash measures to inflate profits for clicks because they can lead to equally large losses. The story is BG is a hugely cash generative business and has become moreso in the current environment.
 
BowdonUK said:
De-couple the price of electricity from gas prices.

That would be a start to reducing bills.
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Probably impossible in the short term. Gas is the marginal fuel that sets prices because it is the only large scale reliable generation. Even medium term blue hydrogen is going to gas price linked. So unless we go all in for nukes and batteries gas will probably be driving the price for the next decade.
 
PlacidCasual said:
Probably impossible in the short term. Gas is the marginal fuel that sets prices because it is the only large scale reliable generation. Even medium term blue hydrogen is going to gas price linked. So unless we go all in for nukes and batteries gas will probably be driving the price for the next decade.
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I'm surprised we've never gone in for the electricity storage that Germany does, so our prices wouldn't fluctuate as much.
 
Standing .... = Robbery for Joe public, it's nothing but a stealth tax. If your going to tax me. Tax my wage so I know what I am paying you scheming muther *******
 
Having been in credit for months upon end by hundreds, I'm sick of it so did another refund request which limited me to only £80 on the Octopus app. I've also gone on and put my monthly payment down from £350 to £200. By Xmas I might hopefully be in debit. Thieving scum.
 
Mercenary Keyboard Warrior said:
What do they do, electricity storage is pretty much the holy grail of renewables
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I'm not proclaiming to be an expert. But somehow they manage to store reserves.

The video is talking about gas reserves, not electricity like I thought. I don't think we have anything similar over here (I can be corrected if there is, as my knowledge isn't good on this issue).


e360.yale.edu

In Germany, Consumers Embrace a Shift to Home Batteries

A growing number of homeowners in Germany are installing batteries to store solar power. As prices for energy storage systems drop, they are adopting a green vision: a solar panel on every roof, an EV in every garage, and a battery in every basement.
e360.yale.edu e360.yale.edu

I think solar was a big thing here at one time. People were getting good deals. Then gradually the government strangled any benefit the customers were getting by reducing any money value made. I'm not sure if its still a good deal these days?
 
Isn't that just the De & Fr equivalent of Rough - we will have 7/9 ? days of gas storage - they have a month.

Presumably when we see the Octopus and other distributor profits they will have same trait as British Gas,
moreover, not sure why the press are not persecuting Ofgem, it was the female director who resigned because they changed the rules allowing quicker recovery of energy sale losses.
 
BowdonUK said:
I'm not proclaiming to be an expert. But somehow they manage to store reserves.

The video is talking about gas reserves, not electricity like I thought. I don't think we have anything similar over here (I can be corrected if there is, as my knowledge isn't good on this issue).


e360.yale.edu

In Germany, Consumers Embrace a Shift to Home Batteries

A growing number of homeowners in Germany are installing batteries to store solar power. As prices for energy storage systems drop, they are adopting a green vision: a solar panel on every roof, an EV in every garage, and a battery in every basement.
e360.yale.edu e360.yale.edu

I think solar was a big thing here at one time. People were getting good deals. Then gradually the government strangled any benefit the customers were getting by reducing any money value made. I'm not sure if its still a good deal these days?
Click to expand...

yeah gas they have loads of storage
We have some and its expanded a bit I believe.

Solar is still as good, if not better in some ways. Its VAT free on install inc batteries if fitted at the same time as panels.
As the technology improved they got rid of the subsidy for new installs over time. Its no longer needed
Most people will have an ROI of probably 5-10 years on solar now.
 
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