Either way there’s obscene profits being made and it should be regulated.You are aware there is basically no profit in residential gas and electric supply and most of the profit comes from business and industry gas and electric. When Npower bit the dust, no-one wanted the residential side of Npower because it wasnt profitable but the business side was very profitable. Part of the condition of Npowers takeover was if you want the business you HAVE to take the unprofitable residential customers. The profit for a residential customer for a whole year varies from about £10 to £40 and if that customer calls in once about any reason that wipes the profit out due to cost to serve. Yes energy suppliers are profiting but more out of sheer volume of low profit customers but mainly from business' and large industry but they arent making hundreds or thousands off residential customers. If you want to direct your anger direct it at the energy companies that supply/generate the electic or gas... hence the multi billion pound profit increases they have seen the last year,
Well on the account page it now shows a fixed term ending date, so thats confirmation its a year deal.Looking into this but apart from that post from the Octopus rep I’ve not seen anything else which confirms the units being fixed for 12 months. Have you confirmed it with Octopus or seen any other T&Cs?
Agile Octopus
Agile Octopus February 2018
Fixed term ends 01/07/2023
Dynamic unit rate
21p/day(All rates inc. VAT)
Your unit rate calculation
The unit rate charge (in pence per kilowatt-hour) for a given half-hour period is:
min(2.0 x W + P, 33.33)
where:
2.0 is a coefficient that includes our distribution costs
W is the wholesale cost of electricity for that period (in pence per kilowatt-hour)
P has value 14.00 between 4pm and 7pm but is zero otherwise.
33.33 is chosen to ensure the price is capped at 35p/kWh once VAT is added.
will make the poll tax riots look like a playground fight. If inflation goes over 11% by the year end and people are getting hammered on their mortgages due to interest rate hikes, plus having to shell out north of 3K for energy, petrol/diesel being well over £2/l then parts of this country are literally going to burn. Hopefully Guy Fawkes has got some relatives still kicking around, they might need to take a crack at what their ancestor failed at.riots for sure, and none of the pushing over statues rubbish it will be absolute carnage.
Watch the insurance premiums go through the roof (pun intended) as well because of thisCome the end of the year im forcasting a large increase in gas explosion and electrical fires from people bypassing meters.
Either way there’s obscene profits being made and it should be regulated.
The daily charge to serve is the biggest pi** take. The infrastructure is already in place so the cost to serve shouldn’t require such a hike but it has.
Well on the account page it now shows a fixed term ending date, so thats confirmation its a year deal.
Code:Agile Octopus Agile Octopus February 2018 Fixed term ends 01/07/2023 Dynamic unit rate 21p/day(All rates inc. VAT)
and
Code:Your unit rate calculation The unit rate charge (in pence per kilowatt-hour) for a given half-hour period is: min(2.0 x W + P, 33.33) where: 2.0 is a coefficient that includes our distribution costs W is the wholesale cost of electricity for that period (in pence per kilowatt-hour) P has value 14.00 between 4pm and 7pm but is zero otherwise. 33.33 is chosen to ensure the price is capped at 35p/kWh once VAT is added.
I don't think much of the country will burn though. What will happen is just like what has happened in previous years whereby anyone who can't pay their mortgage gets their home repossessed.will make the poll tax riots look like a playground fight. If inflation goes over 11% by the year end and people are getting hammered on their mortgages due to interest rate hikes, plus having to shell out north of 3K for energy, petrol/diesel being well over £2/l then parts of this country are literally going to burn. Hopefully Guy Fawkes has got some relatives still kicking around, they might need to take a crack at what their ancestor failed at.
Rishi is that you?I don't think much of the country will burn though. What will happen is just like what has happened in previous years whereby anyone who can't pay their mortgage gets their home repossessed.
Believe it or not, many people are well off in this country and can easily ride out high interest rates and high energy, food and fuel costs. Like always, it's those who are seriously in debt who are the most affected, but that is partly due to their own poor decision making.
This is what the Bank of England has just said regarding interest rates:
https://www.bloomberg.com/news/arti...holds-can-withstand-rates-of-up-to-5-boe-says
Basically, UK households can withstand interest rates of up to 5%. I agree with them. It is only irresponsible people who would struggle at anything less, and those are the ones who will end up with repossession, just like in past times.
This is what the Bank of England has just said regarding interest rates:
https://www.bloomberg.com/news/arti...holds-can-withstand-rates-of-up-to-5-boe-says
Basically, UK households can withstand interest rates of up to 5%. I agree with them. It is only irresponsible people who would struggle at anything less, and those are the ones who will end up with repossession, just like in past times.
At the moment, yeah i'd agree. However, inflation won't persist at such high levels for ever, so eventually the base rate and inflation will match.5% is way too low inflation is 10%
The thought is that a 5% base rate will bring inflation down to match. This lowers cost pressures. Like always, it's those who over-extended themselves by buying houses with ultra cheap mortgages who are most at risk once the cycle changes.5% in isolation or in addition to all the other cost pressures?
The thought is that a 5% base rate will bring inflation down to match. This lowers cost pressures. Like always, it's those who over-extended themselves by buying houses with ultra cheap mortgages who are most at risk once the cycle changes.
Are you joking? Me and my family are not in debt and we absolutely cannot afford what we are being told we will have to pay.I don't think much of the country will burn though. What will happen is just like what has happened in previous years whereby anyone who can't pay their mortgage gets their home repossessed.
Believe it or not, many people are well off in this country and can easily ride out high interest rates and high energy, food and fuel costs. Like always, it's those who are seriously in debt who are the most affected, but that is partly due to their own poor decision making.
High energy prices won't persist forever.It's not even going to scratch the surface of energy prices though.
High energy prices won't persist forever.