Energy Prices (Strictly NO referrals!)

[manic111]

Where is all this spending that they are trying to slow down coming from? Everyone I know has cut back, some more than others but all have reduced spending. We just seem to be dooming ourselves to recession if cost of living keeps getting more and more expensive. Higher interest rates might mean you finally get some interest on your savings but most don't have any money to save.

Completely agree - this is not inflation caused by excess demand but restricted supply. Interest rates have no bearing.

 

[Goodie]

Remember 2008 ? That was caused by actual banking experts

Thanks captain hindsight

 

[Richie]

There has been a point made that reducing demand will reduce energy and fuel costs as businesses reduce production.

On the subject of fuel and other oil derived products - should there be a downturn in demand, do we not think that the OPEC Cartel will just turn the taps off thereby reducing oil production and keeping the cost high?

 

[Minusorange]

Thanks captain hindsight

Well you seem to think you need to be a banking expert to have any opinion on the impending financial crisis, banking experts have caused many financial crises so being an expert doesn't mean one knows what they're doing

 

[cu3ed]

There has been a point made that reducing demand will reduce energy and fuel costs as businesses reduce production.

On the subject of fuel and other oil derived products - should there be a downturn in demand, do we not think that the OPEC Cartel will just turn the taps off thereby reducing oil production and keeping the cost high?

Yep, they do that all the time anyways.

 

[cheesefest]

People need to stop buying carrier bags every time they shop. Get the same customers buying bags each time.

They have no idea that they are wasting £125 a year on bags - based on 10 bags a week. Spend a few quid on some decent bags.

How many weeks of grocery shopping can you spend with £125?

 

[cheesefest]

Another simple thing to save money is not to buy branded medicines. Don’t understand why people pay £3 on Nurofen and the supermarket own ibuprofen is 30p for the same number of tablets and strength.

Then get medication for back pain and period pain. A woman with both may take both. She’s overdosing as medication goes through the bloodstream in the same way.

Plus supermarket own medication has product number (PL) and went through the same process to go onto the shelves.

Medical brands are targeting the thick and ignorant

 

[200sols]

How many weeks of grocery shopping can you spend with £125?

Barely 1.

 

[Trifid]

Barely 1.

Should easily feed 4 people for a week.

The bags for life I bought 7 years ago when the charge came in are still looking great. They don't have a easy life either as I often walk to the shop with them full of heavy food.

 

[cu3ed]

Where is all this spending that they are trying to slow down coming from? Everyone I know has cut back, some more than others but all have reduced spending. We just seem to be dooming ourselves to recession if cost of living keeps getting more and more expensive. Higher interest rates might mean you finally get some interest on your savings but most don't have any money to save.

Its not to stop just the small things, its to stop the really big things.

 

[Bluecube]

Higher interest rates will cause BTL landlords to jack it in. Now what do I smell? A house price crash. Cheaper houses in the longer run.

I’m a BTL landlord. I’ve no intention of selling. In fact I’m just about to finalise a fixed mortgage for another five years.
What will cause housing prices to fall is the fact that people can’t afford stupidly vast mortgages as interest rates rise.

 

[purplesky]

I’m a BTL landlord. I’ve no intention of selling. In fact I’m just about to finalise a fixed mortgage for another five years.
What will cause housing prices to fall is the fact that people can’t afford stupidly vast mortgages as interest rates rise.

It depends how leveraged they are. Many are over-leveraged. The smart ones got out just in time.

 

[RockLobster]

I’m a BTL landlord. I’ve no intention of selling. In fact I’m just about to finalise a fixed mortgage for another five years.
What will cause housing prices to fall is the fact that people can’t afford stupidly vast mortgages as interest rates rise.

I’m actually looking to buy my first BTL soon. Just holding out to see what happens.

 

[Brutal biff]

£2. 08 for diesel on a shell garage in Shrewsbury today money grabbing bas...ds

 

[MadMossy]

I was talking to a customer yesterday who just took delivery of a VW e-golf a week ago, they were absolutely shocked at how much cheaper it was to run in comparison to their previous petrol golf. Specially now with petrol being minimum £1.88 around here in Devon. It also has the added bonus of being way faster than their old car as well.

 

[Simon]

It depends how leveraged they are. Many are over-leveraged. The smart ones got out just in time.

How many are over leveraged ? Whatever that means.

 

[dirtychinchilla]

There has been a point made that reducing demand will reduce energy and fuel costs as businesses reduce production.

On the subject of fuel and other oil derived products - should there be a downturn in demand, do we not think that the OPEC Cartel will just turn the taps off thereby reducing oil production and keeping the cost high?

Renewables are expensive and scarce. If we can reduce our consumption, we reduce demand. Therefore, we will be able to better exploit the limited renewable energy that we have. That's the goal anyway.

If we actually work hard at it (this is the UK, we won't), we could massively diminish our energy demand. Buidlings that I'm looking at at the moment are consuming around double what they were designed for.

 

[MatsyLR]

I was talking to a customer yesterday who just took delivery of a VW e-golf a week ago, they were absolutely shocked at how much cheaper it was to run in comparison to their previous petrol golf. Specially now with petrol being minimum £1.88 around here in Devon. It also has the added bonus of being way faster than their old car as well.

Lucky for them that they can afford to buy a EV. Some people are stuck with petrol as the cost of the EV car itself is just so much compared to a used petrol. Along with charging being a nightmare in most places. I wouldn't be able to charge at home there's no room so I'd have to find charging points and sit there until its done.

 

[ci_newman]

Lucky for them that they can afford to buy a EV. Some people are stuck with petrol as the cost of the EV car itself is just so much compared to a used petrol.

Yeah, the poster casually overlooks that a Golf-E has a £30k OTR price tag.

At current fuel prices my ICE car costs me ~ £2,600 per year in fuel (10000 miles, 35mpg average). The expected lifetime of an EV is ~ 10 years, so it doesn't actually make financial sense to swap for an EV unless you need to retire your ICE car anyway.

 

[MatsyLR]

Yeah, the poster casually overlooks that a Golf-E has a £30k OTR price tag.

At current fuel prices my ICE car costs me ~ £2,600 per year in fuel (10000 miles, 35mpg average). The expected lifetime of an EV is ~ 10 years, so it doesn't actually make financial sense to swap for an EV unless you need to retire your ICE car anyway.

For me my car was £9000 last year bought it outright its good enough for what I need (2017 plate) . I fill it up once every 35-40 days or so at currently around £62-65quid. I only do about 10miles daily, 5 days a week. EV is just not feasible at all. I was tempted when I was buying but the over double/triple upfront cost just didn't make sense.