Energy Prices (Strictly NO referrals!)

[BUDFORCE]

We get shafted for everything in this country.

 

[Vexr]

Best explanation I've seen of how the UK end consumer is getting screwed energy cost wise. Runs rather contrary to what Ed Miliband and Jonathan Brearley of OFGEM have been putting out there. (09:39-13:25)

(Do excuse the pounds not pence error at the beginning)

Price is now about 87p/therm, compared with 62p/therm when this video was made six months ago (the same as it was in 2019).

Still very different from the Ed Miliband statement that the wholesale price for gas is 3x as much as it was prior to the Russian invasion of Ukraine.

It seems he cherry picked a number that sounds believable from some time during the Corona lockdowns.

The fact the market for gas started going wild many months before Russia's invasion of Ukraine in Feb 2022 is another topic, but makes Mr Miliband even more wrong.

 

[Mercenary Keyboard Warrior]

Price is now about 87p/therm, compared with 62p/therm when this video was made six months ago (the same as it was in 2019).

Still very different from the Ed Miliband statement that the wholesale price for gas is 3x as much as it was prior to the Russian invasion of Ukraine.

It seems he cherry picked a number that sounds believable from some time during the Corona lockdowns.

The fact the market for gas started going wild many months before Russia's invasion of Ukraine in Feb 2022 is another topic, but makes Mr Miliband even more wrong.

Greg (head of Octopus) is also quoting 3x so there must be something in it.

 

[Vexr]

Greg (head of Octopus) is also quoting 3x so there must be something in it.

We have to go back to Oct 2020 when the price was last 30p/therm for the statement to be true that we're now paying 3x the wholesale gas price we were before the Ukraine invasion.

In reality the wholesale gas price on 14th Feb 2022, a week before the invasion, was 163p/therm.

I guess they didn't have the cheek to go with the 9.63p/therm of May 2020. In which case we are now paying nearly 9x the wholesale price of gas.

 

[b0rn2sk8]

Pre-COVID, it was 43p/therm (October 2019), COVID started hitting China not long after that which shut down their economy and suppressed energy prices.

Yes, it is a lot more now, but once you factor in inflation, 43p is now 53p so in reality its 'only' 1.7X the price.