Energy Prices (Strictly NO referrals!)

Pottsey said:
I have to wonder what ICE
gpuerrilla said:
There was a reason for this. These suppliers went bust. Now everyone has a high standing charge to pay for it. You have to ask why the biggest of the big 6 tariffs are never at the cheapest, declare massive profits though YoY..
Click to expand...

I wish I was a lawyer with spare time on my hands because I can't understand why everyone else has to pay an increased SC for energy companies going bust! Surely the share holders foot the loss and that's it. Seems a con to me and I could do with some one explaining it to me!
Click to expand...

Edit: Stupid phone doing dodgy quotes!
 
Isn't this a good think? Survival of the fittest etc?
I think it's great petrol is so expensive. Less poor people on the roads in old bangers and less morons in terrible cars on hp driving around.
 
We are all being trolled by the oil and gas producers. Russia is still able to sell to China and India therefore there is less demand from them on other producers. The same amount of gas and oil is being produced and sold yet we are all paying more for it. We can see who is getting rich off this, it's like the last swansong of a dying industry, benefitting the Middle East for now as a money grab, before further investment in nuclear and renewables comes along.
 
SpeedFreak said:
We are all being trolled by the oil and gas producers. Russia is still able to sell to China and India therefore there is less demand from them on other producers. The same amount of gas and oil is being produced and sold yet we are all paying more for it. We can see who is getting rich off this, it's like the last swansong of a dying industry, benefitting the Middle East for now as a money grab, before further investment in nuclear and renewables comes along.
Click to expand...

Russia doesn't have the gas pipe lines in place to sell the same amount of gas as it does to Europe elsewhere. And even if it did, shipping gas costs a lot more than using a pipeline.
 
robfosters said:
Thank god for the summer, £44 gas bill this month, split 5 ways. That’ll do nicely :D
Click to expand...

Ours combined was something like £145, about £117 on electric and £28 on gas.

I find each day electric is around £3.50 - £4.50

Not sure if that’s high or not for a family of 3, mostly 2 TVs and computer is on the most with all the usual things like fridge freezers.
 
beachBOYken said:
Ours combined was something like £145, about £117 on electric and £28 on gas.

I find each day electric is around £3.50 - £4.50

Not sure if that’s high or not for a family of 3, mostly 2 TVs and computer is on the most with all the usual things like fridge freezers.
Click to expand...
Our electric bill is very high, about £230 a month. Wouldn’t be surprised if that’s one of the highest on here.
 
gpuerrilla said:
There was a reason for this. These suppliers went bust. Now everyone has a high standing charge to pay for it. You have to ask why the biggest of the big 6 tariffs are never at the cheapest, declare massive profits though YoY..
Click to expand...
Keep in mind some of the companies don't make a profit on the residential side of things, they have made a loss since they started and make up costs from other areas and insurance.

EDF (UK) for example has only made a profit from residential once (1 year) out of decades of being open. The profits are coming from other areas of the business and is holding up the residential business (supplying fuel to us regular people). Octopus isn't making profits either from supplying gas/electric. I'm not sure on other companies as I haven't worked in those ones.

It would be helpful if they actually disclosed cost/profit information to the general public so people don't have a false impression of them being the big bad man driving prices up. Blame the government not the energy companies.

Also keep in mind the cost to buy gas/electric is FAR above what the companies are selling it for, which is part of the reason for the massive increase recently as we have had cheap fuel for a long time due to it being subsidized from multiple places. The suppliers that went bust where selling fuel for stupidly low and they just couldn't sustain it because they don't have other areas to pull money from to keep it afloat.

Now we are collectively suffering because that has stopped (along with other terrible things recently) instead of the cost gradually going up over the years (along with wages!). Unless the government do something, its just going to keep going up and up until riots break out across the country.
 
Last edited:
MatsyLR said:
Keep in mind...
Also keep in mind...
The suppliers that went bust where selling fuel for stupidly low and they just couldn't sustain it because they don't have other areas to pull money from to keep it afloat.
Click to expand...

I will certainly keep in mind.. although I was replying to another poster which also applies to folk who may genuinely not know. I too used to work in that industry (under a MOP initially as an engineer working all over the UK) so have a nice foundation of generator/DNO/MOP/supplier's. Thanks for reaffirming some of it though, regardless of which company is profiteering on the residential, the bigger ones set aside money to cover them like now when the going gets tough. The smaller ones obviously didn't (and subsequently no longer exist) but hey its not them paying for that deficit now which makes you wonder what OFGEM are using their resources on!
 
MatsyLR said:
It would be helpful if they actually disclosed cost/profit information to the general public so people don't have a false impression of them being the big bad man driving prices up. Blame the government not the energy companies.
Click to expand...
About 7 odd years ago npower did this. They were getting battered by the press and Government and they posted breakdowns for a selction of previous years and predictions into the future of how you wholesale electricity cost was produced.

npower is long gone obviously, not sure if anyone is doing similar. Ofgem or National Grid typically release annual reports that have similar stuff in. It's just knowing where to look.
 
A relative of mine has a boiler from 1978 (don't ask) and a poorly insulated house - he's looking at £700~ a month for gas and electric...!
 
PlacidCasual said:
About 7 odd years ago npower did this. They were getting battered by the press and Government and they posted breakdowns for a selction of previous years and predictions into the future of how you wholesale electricity cost was produced.

npower is long gone obviously, not sure if anyone is doing similar. Ofgem or National Grid typically release annual reports that have similar stuff in. It's just knowing where to look.
Click to expand...

I cant remember the exact figure, but i think Eon (Not EonNext) profit per residential customer about 3-4 years ago was £23 a year and an average cost to serve per customer of about £83 when some in the industry had their cost to serv at about £45 per customer. There's no money in the residential energy market, its all in the business and community projects. Eon wanted to buy just Npowers Business arm as it was the only profitable part of Npower. Regulators said no, you buy it all or nothing. So they bought it all and then spent 3 years setting up a lower cost to serve business, EonNext, and migrating all Npower and Eon customers over. I think I saw the current cost to serve this year is about £51 but i have no idea atm what the profit per customer is.
 
You must log in or register to reply here.
Back
Top Bottom