Energy Prices (Strictly NO referrals!)
- Thread starter DXP55
- Start date
Soldato
Last edited:
Soldato
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.
Soldato
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.
Soldato
- Joined
- 25 Nov 2005
- Posts
- 12,504
Watch the insurance premiums go through the roof (pun intended) as well because of this
Soldato
You do know that a lot of the standing charge increase is to pay for the nationalised supplier BULB. As we saw, 30-ish suppliers flew too close to the sun, taking too large risks and when a big supplier like Bulb goes under and the Gov has to run it, they then realise it will cost twice the amount they planned because no-one wants to buy them and then you are paying for BULB's failure through the standing charge.
Nationalise energy suppliers though but oh wait no-one wants to pay for it
Your paying 17p extra per day on SC to pay for that!Also our infrastructure is horribly out of date, straining and needs more investment but still no-one is prepared to pay for it
Soldato
Thanks for confirming - definitely going to switch as that’s a bargain come October. Have you considered Tracker for Gas?
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.
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.
Soldato
Rishi is that you?
5% is way too low inflation is 10%
5% in isolation or in addition to all the other cost pressures?
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.
I suspect the Bank of England will raise rates above 5% though. Cunliffe isn't particularly known for his hawkish stance, so if even he's saying 5%, the real figure is probably 8%. According to the article posted, the BofE believe rates would need to reach up to 8% on the corporate side to push distress and a default, and that "the picture is not that dissimilar on the mortgage side".
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.
Soldato
I remember the good old days when you could time recessions with the good old 11 year cycle. These days you can’t be that lazy!
It's not even going to scratch the surface of energy prices though.
Soldato
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.
We even went the route through Eon Energy Fund using step change and due to them messing up, it got rejected.
We supplied the relevant documents which we got a confirmation were received however a month later received a letter saying due to the step change documentation not being received it was rejected. A main criteria for receiving help from this service is that you consult with step change and provide the documentation which we did.
The number on the letter was out of service and the email is now discontinued and returns to sender. They have taken the maximum number of people on now and are no longer processing new people. We have no one to hold to account for messing this up as all lines of contact to that service are unavailable.
We have to contact Eon on Monday to see what they can do however, this fund is seen as separate and they will likely tell us they cannot do anything about that.
Apologies for my poor grammar, been working all night. Its absolutely despicable and there are people far worse off than me and my mother.
High energy prices won't persist forever.
I wish I shared your confidence, if you look at petrol and house prices, they do fluctuate, but the trend over legnth of time is always upwards.