Energy Prices (Strictly NO referrals!)

There is no way to avoid paying this.
There isn't really any way things would be different.

The price cap only delays the price rises and smooths out the peaks and troughs.

Public, private, cap or no cap at end of the day the net result is the same



I do wonder how many would have fixed last October off Martin Lewis didn't say 'don't'
Like mortgages people naturally want to fix. Sometimes you win, sometimes you lose. But at least you know if you can afford it.

I think a lot more would have fixed.
 
b0rn2sk8 said:
Bulb were rarely offering the cheapest energy in the market. At times they were but most of the time they were in the ball park but not the cheapest.
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exactly, as a bulb refugee, they were becoming like a pyramid selling scheme based on referrals, with people on the energy thread responding in seconds to any referral soliciting,

Absence of vertical (generation) integration hasn't helped them, but even for octopus and maybe edf ? they have separate companies they could/can cut loose, for the UK sales.
 
413x said:
There is no way to avoid paying this.
There isn't really any way things would be different.

The price cap only delays the price rises and smooths out the peaks and troughs.

Public, private, cap or no cap at end of the day the net result is the same



I do wonder how many would have fixed last October off Martin Lewis didn't say 'don't'
Like mortgages people naturally want to fix. Sometimes you win, sometimes you lose. But at least you know if you can afford it.

I think a lot more would have fixed.
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THe tariff i am on is fixed but i can cancel and switch anytime. SO if for some magical reasonm, the prices go back down to how they was pre october 2021, then we can switch to that
 
413x said:
I do wonder how many would have fixed last October off Martin Lewis didn't say 'don't'
Like mortgages people naturally want to fix. Sometimes you win, sometimes you lose. But at least you know if you can afford it.

I think a lot more would have fixed.
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Im fairly sure analysis has shown that his advice was correct, even in hindsight for the vast majority of people. Most fixed on the market then were above the cap level and were for only a year. You’d have been paying more for the first 6 months and would have not made any gains back over the second six months.

His advice in September was to fix when there were still 20p/3p tariffs kicking around which is one I was able to secure for 2 years.

It doesn’t matter though as has been said above, we are still paying for it one way or another as the losses will be recovered from customers over time.
 
b0rn2sk8 said:
Im fairly sure analysis has shown that his advice was correct, even in hindsight for the vast majority of people. Most fixed on the market then were above the cap level and were for only a year. You’d have been paying more for the first 6 months and would have not made any gains back over the second six months.
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I agree advice was correct. Just wondering if it wasn't pushed would many many more be on fixed?
 
413x said:
I agree advice was correct. Just wondering if it wasn't pushed would many many more be on fixed?
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Probably loads and they’d be hit by a double whammy. They would have been paying extra for the period of the fix and then would hit with the higher recovery prices anyway. It’s a lose lose really.

I assume those on long term fixed contracts still get the £200 and then have to pay it back on top of their fix then though they are fixed?
 
jpaul said:
Absence of vertical (generation) integration hasn't helped them, but even for octopus and maybe edf ? they have separate companies they could/can cut loose, for the UK sales.
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Vertical integration has been going out of fashion the last few years. Scottish Power and Eon divested all of their generating assets and are now suppliers only. RWE sold it's customers to Eon and is now generation only as did SSE. Centrica and EdF still straddle that divide.

Many CO2 heavy industries have been splitting out the CO2 heaviest parts so that the "clean" bit can't be held ransom for the dirty bit. Aluminium smelters have done this so the strategic aluminium plant can effectively insulate it's risk from the larger parent company.
 
b0rn2sk8 said:
Probably loads and they’d be hit by a double whammy. They would have been paying extra for the period of the fix and then would hit with the higher recovery prices anyway. It’s a lose lose really.

I assume those on long term fixed contracts still get the £200 and then have to pay it back on top of their fix then though they are fixed?
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Higher recovery prices?
It was absolutely better to fix in October for basically all deals.
 
b0rn2sk8 said:
Probably loads and they’d be hit by a double whammy. They would have been paying extra for the period of the fix and then would hit with the higher recovery prices anyway. It’s a lose lose really.

I assume those on long term fixed contracts still get the £200 and then have to pay it back on top of their fix then though they are fixed?
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Yes everyone gets it. Yay for Rishi (****)
 
Combat squirrel said:
Its comments like this that make up everything that is wrong with the world.

Weird how you assume private ownership has changed things - course it hasn't, its just driven the energy service to the public into the floor, with minimum effort, to maximise profits, private ownership = the absolute bare minimum to provide energy - no company will upgrade its infrastructure unless it HAS TO because it takes away from profits.

Public ownership however provides a funds pool to upgrade things for the benefit of the entire system, instead of funnelling money to a few already rich people.....quite obvious really, any reply or argument against this simply shows you'd rather money went to already ultra rich people, instead of looking at it from a profit perspective it HAS TO BE looked at from a humanitarian perspective.

Capitalism has had its day, and now its gradually unravelling, INCREASING profit year on year cannot be done, forever, at all, in our life time an entire system change will come in, human basics like energy, water, food & shelter will have to be run with an aim to sustain that for all people rather than making billionaires slightly more rich billionaires, which in itself is mental, if you think about it, they just expect to keep getting more money, rather than capping it at 5x the amount they put in, for example - its literally, robbery.
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a) Energy suppliers have nothing to do with the infrastructure, might want to speak to the wonderful government and their policies about that one.
b) This magical pool of money a state run energy market would have would be either drained by gov cronies and their mates consulting contracts or repurposed to find vanity projects like HS2 and the likes. it 100% wouldnt be used on the energy infrastructure or on the poor.
c) Extreme capitalism is bad but the near fanatical socialism you're talking about does no-one any good and only makes things worse
 
Uther said:
I locked in for 3 years, I have never done that before. Tbh I don't really see prices coming down again much if at all.
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Gas futures for later this year.. its going to be brutal come the next price cap. For reference Gas was at 280ish per therm on monday night, and spiked today at a new high of 465 and dropped back to 383 per therm as of about 11am

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just moved house and checked my energy supplier fixed rate. At the mo, my bill is estimated £217 a month...if I want to fix for 2 years(only option they're giving me), it's £548 a month. Can't see the benefit of fixing
 
Has anyone gone off grid before?

If you call up your electricity provider & say "cancel my supply, i'm using a generator from now on" does anyone know what actually happens?
- Do they just take a final meter reading/bill & say 'ok'
- Come round & remove your meter/supply fuse & charge you for doing so?
- Tell you 'you can't do that, sir' ?

Presumably there's nothing in law to say that a residence has to have a working/connected electricity supply.
 
What was it like before Covid, because I think fossil fuels were artificially low during that period?

edit: checked yeah in the 20-35 pence per therm 20 years ago and trended up to the 40-75 for most of the period after 2005 until it dropped again for covid.
 
Tom_ed1987 said:
Has anyone gone off grid before?

If you call up your electricity provider & say "cancel my supply, i'm using a generator from now on" does anyone know what actually happens?
- Do they just take a final meter reading/bill & say 'ok'
- Come round & remove your meter/supply fuse & charge you for doing so?
- Tell you 'you can't do that, sir' ?

Presumably there's nothing in law to say that a residence has to have a working/connected electricity supply.
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You can have your meter removed if you want its upto you :) You can keep the meter but have the fuse pulled, you still pay standing charge though, or you can get disconnected and they will remove the meter for a fee, about £140 i think give or take depending where you live
 
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