Energy Prices (Strictly NO referrals!)

[subbytna]

Wife works for a pharmaceutical company here in Northern Ireland. She's management level and said to me that in the quarterly meeting earlier last week, they said that their yearly budget, for energy to run the place, was £1.8 million LESS that what it turned out to be. 1.8mill extra needed, just to run leccy in the place. Bonkers!

 

[Sasahara]

Refineries are charging over 4x as much which is not the same as Refinery costs quadrupling (clearing that up in case it's mis-read)

This part of the process is sheer profiteering.

Refineries don't directly set the price, the market does, just as will crude oil. There are more buyers than there is supply so the price goes up. Places than can't afford to pay will go short.

 

[chrcoluk]

Then setup a whole amount DD instead. Also keep in mind the "projection" includes price increases and the suppliers putting peoples payments up more than they should (which they are getting in trouble about). Literally no one should be on budget direct debit (the one you are on) unless you NEED to budget.

Not sure on that, when Octopus tried to put me on circa £400 DD, the email clearly stated it was based on the predicted usage and future price changes were not part of it. (In other words if prices go up it goes up again).

 

[200sols]

Refineries are charging over 4x as much which is not the same as Refinery costs quadrupling (clearing that up in case it's mis-read)

This part of the process is sheer profiteering.

I'm sure I've said this before, but you know they don't set the price right? It is determined by the market. Tell me which business is not going to sell to the highest bidder? We compete with the world.

Without tax fuel would be sub £1/litre even with these rises. Perfectly reasonable. Govt intervention is needed as this is crippling the economy but they are too busy investigating their paltry 5p duty cut and painting retailers as the bad guy.

 

[BUDFORCE]

I know one bloke at work that drives a Range Rover is thinking about quitting and getting a local job. He spends around £500 a month on fuel to drive to work, he owes more on the loan for the car than the car is worth as well so not a good position to be in, not to mention it has a habit of throwing up large bills.

I can't help bit picture in my head the type of guy you are on about and have a little chuckle.

 

[Freakbro]

Govt intervention is needed as this is crippling the economy but they are too busy investigating their paltry 5p duty cut and painting retailers as the bad guy.

Now as much as I appreciate the need to understand why an action didn't have the desired effect so as not to repeat the mistake, I don't think in this case it's that complicated....a 5p cut in the face of the current price rises was just ******* in the wind.

So instead of actually doing the significant intervention required now, they're having an inquiry into the 5p cut, it's a joke.

 

[silversurfer]

Theres only one fix which is greater supply of energy then demand. Gov fixing anything is like having a train conductor get out and push, have they allowed gas fracking, that'd help or anything productive. Build a tidal power capture on the seven, 50ft largest tidal range estuary in the world and its our back yard unused while we moan about not having enough power.

 

[jpaul]

greenlighting solar proposal in cornwall would help too
Nimbie's in cornwall protesting about the proposed solar development , they don't appear to be, being, offered cheaper electricity as a compensation, for view from their holiday home.

whether commercial companies can get a tax break on solar panels (beyond strike price), I think they should be prioritised beyond the likes of Amazon say ...
the tv advert on their spanish solar extravaganza could power 30K homes.

 

[Haggisman]

Then setup a whole amount DD instead. Also keep in mind the "projection" includes price increases and the suppliers putting peoples payments up more than they should (which they are getting in trouble about). Literally no one should be on budget direct debit (the one you are on) unless you NEED to budget.

Why not?

 

[bigmike20vt]

Theres only one fix which is greater supply of energy then demand. Gov fixing anything is like having a train conductor get out and push, have they allowed gas fracking, that'd help or anything productive. Build a tidal power capture on the seven, 50ft largest tidal range estuary in the world and its our back yard unused while we moan about not having enough power.

I agree we need to make far more use of Tidal... We are an island, I dare say not many countries in the world are better suited to a combo of off shore wind and tidal than we are.

but fracking? that cant be the answer imo. Yes it is hurting us at the moment these energy prices but its a false economy to save a few quid today if it wrecks the planet for our children in the future. The government jumped the gun on removing our gas storage and whilst they have not been terrible pushing renewables should have done more.....but end of the day we need to be reducing our fossil fuels not finding new more destructive ways of getting more, even if that means a few years of pain now.

 

[Greebo]

Theres only one fix which is greater supply of energy then demand. Gov fixing anything is like having a train conductor get out and push, have they allowed gas fracking, that'd help or anything productive. Build a tidal power capture on the seven, 50ft largest tidal range estuary in the world and its our back yard unused while we moan about not having enough power.

Not sure that would help. We dont have a shortage of gas in the UK. In fact I think we are almost self sufficient. But the UK gas is owned by private companies and they sell it to the UK at world prices.

So if you allow fracking, all that will happen is that the fracking companies will make massive profits selling the fracked gas at world prices.

 

[cheesefest]

People should not buy cars as status symbols anymore. My 64 reg super mini car does 45-55mpg, zero car tax and £185 car insurance. Most of my friends have status symbol cars which have a lower mpg, about £300 pa tax and insurance is 3-5 times more.

There is no need to have large cars unless you have children, dogs and jobs or hobbies needing a lot of equipment to use

 

[cheesefest]

With energy bills - you should be in credit in late spring - early autumn and that credit will be eaten up in late autumn and winter. So you may pay £100 pcm and use just £70 pcm for 4 months. Then use £130 pcm for 4 months. It should even out over the year.

 

[Simon]

People should not buy cars as status symbols anymore. My 64 reg super mini car does 45-55mpg, zero car tax and £185 car insurance. Most of my friends have status symbol cars which have a lower mpg, about £300 pa tax and insurance is 3-5 times more.

There is no need to have large cars unless you have children, dogs and jobs or hobbies needing a lot of equipment to use

Maybe people with big cars have them cause they need them. Rather than to try and look cool like you assume ?

 

[Bear]

People should not buy cars as status symbols anymore. My 64 reg super mini car does 45-55mpg, zero car tax and £185 car insurance. Most of my friends have status symbol cars which have a lower mpg, about £300 pa tax and insurance is 3-5 times more.

There is no need to have large cars unless you have children, dogs and jobs or hobbies needing a lot of equipment to use

You drive a cheap little car so everyone else should? How about people with decent amount of disposable that dont have to worry about mpg or the cost of their tax, should they be forced into small cars too?

 

[413x]

I don't know what Scottish Power are playing at.

My DD is at 70 now. I've reduced it due to significant credit.
It looks like we are spending 100ish a month.

They keep wanting to put my DD up to 90.

But I'm 600 in credit. I'm soon going to ask for this back as it would be handy right now. But I cannot fathom why they are trying to put the DD up!

 

[Tom_ed1987]

Not sure that would help. We dont have a shortage of gas in the UK. In fact I think we are almost self sufficient. But the UK gas is owned by private companies and they sell it to the UK at world prices.

So if you allow fracking, all that will happen is that the fracking companies will make massive profits selling the fracked gas at world prices.

It's quite clear the UK's energy security is beyond at-threat. I'd actually support some sort of nationalised fracking operation; extraction could be ringfenced for domestic supply only.
To think we can't because of green issues or whatever is insane - society is built on and needs energy.

 

[Roar87]

I don't know what Scottish Power are playing at.
My DD is at 70 now. I've reduced it due to significant credit.
It looks like we are spending 100ish a month.

They keep wanting to put my DD up to 90.

But I'm 600 in credit. I'm soon going to ask for this back as it would be handy right now. But I cannot fathom why they are trying to put the DD up!

If they do that to all of their customers then they'll benefit from the interest they accrue

 

[theone8181]

People should not buy cars as status symbols anymore. My 64 reg super mini car does 45-55mpg, zero car tax and £185 car insurance. Most of my friends have status symbol cars which have a lower mpg, about £300 pa tax and insurance is 3-5 times more.

There is no need to have large cars unless you have children, dogs and jobs or hobbies needing a lot of equipment to use

That's the reason I binned off my M3, although there's no way we could holiday in the wife's fiesta with 2 kids .

 

[jpaul]

But the UK gas is owned by private companies and they sell it to the UK at world prices.

not without appropriate tax for our resources.

Oil and gas: Ring Fence Corporation Tax

The modified Corporation Tax rules for companies in the UK oil and gas industry including calculating the charge and payment deadlines.

www.gov.uk

Ring Fence Corporation (RFCT) tax and the supplementary charge only apply to companies involved in the exploration for, and production of, oil and gas in the UK and on the UK Continental Shelf (UKCS)).