Energy Prices (Strictly NO referrals!)

purplesky said:
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.
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i think that's over optimistic. The main rises are coming from things like petrol and gas / electric. Increasing interest rates won't really curb rises there as people still have to pay for energy regardless of what the price is. COnsidering that prices are going up again in October and probably will go up another 6 months later I am not sure increasing interest rates alone is going to fix the problem we are seeing.
 
purplesky said:
Additional jobs. Currently, we've been told that there are significant and serious worker shortages, probably because people are too bone idle to want to work and just want everything to fall into their laps.

It amazes me how many of these same people who are currently up in arms about the "cost of living crisis" were only too happy to buy a rip-off over-priced brand new PCP car in the "good years". I'd hate to actually think about how much money they've blown over the years whilst thinking the party would never end, or not thinking at all most likely.
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crack is a really dangerous drug and you should probably stop smoking it............................
 
LabR@t said:
The amount of youngster driving brand new cars always tickles me. Those payments are going to hurt.
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Yeah I don't get that.. They've either got very rich parents or they've financed themselves up to the eyeballs.

My first car was a 1.3L astra that cost £800.
Granted in today's money that's probably a 2 grand car but still.. It was hardly fancy.
 
LabR@t said:
The amount of youngster driving brand new cars always tickles me. Those payments are going to hurt.
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It won't because their parents will more than likely bail them out. I've seen it time and time again, even with people into their 30's they make stupid financial decisions knowing that they have that safety net.
 
strike/cfd price on the new uk energy contracts is interesting ... ~4-5p a unit., (eg. considering current octopus rates )
in comparison, for those buying pv at home it would be interesting to know their all in unit price considering capital investment/depreciation.
Equally, if you read up, personal generation and storage is not as efficient for the economy as centralised energy production/storage, so I don't get the VAT removal on installs

7 GW offshore wind at GBP37.35/MWh

900 MW onshore wind at GBP42.47/MWh

2.2 GW solar at GBP45.99/MWh
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mattyfez said:
Yeah I don't get that.. They've either got very rich parents or they've financed themselves up to the eyeballs.

My first car was a 1.3L astra that cost £800.
Granted in today's money that's probably a 2 grand car but still.. It was hardly fancy.
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they are all PCP / lease type deals that are virtualy risk free for the garage as they already got their money from the underwriter the minute the deal was agreed, when the monthly payments go wild and the customer can't pay the car just gets reposesed and then sold at auction to claw back money. It's not finance in the traditional sense that we would have known from say the 90's, they basically rent the car on a monthly basis and even after 3 years they own nothing. it's almost like piling up your cash in a bin and setting fire to it.
 
wildman said:
they are all PCP / lease type deals that are virtualy risk free for the garage as they already got their money from the underwriter the minute the deal was agreed, when the monthly payments go wild and the customer can't pay the car just gets reposesed
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How would the monthly payments go wild? I have a lease car and the monthly payment is a fixed amount for the whole term. Are there lease deals available with variable payments?
 
touch said:
How would the monthly payments go wild? I have a lease car and the monthly payment is a fixed amount for the whole term. Are there lease deals available with variable payments?
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I guess it's a bit like renting a house rather than buying a house. I guess there's a marginal benefit with renting a car as it's a depreciatiang asset, so it might make sense in some circumstances, as after 3 years that 30k car is only going to be worth 10k at best. But it still baffles me.
 
Other members of my family have cars on pcp but it seems the monthly payments creep up over time, and they want you to keep trading to the next model all the time, because paying the balloon payment is not possible for most.
 
jpaul said:
Equally, if you read up, personal generation and storage is not as efficient for the economy as centralised energy production/storage, so I don't get the VAT removal on installs
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Not really that helpful though knowing central storage is better, you can't leverage that to assist you in lowering your own bills.

Most of us get solar because whilst it's expensive, eventually it will pay for itself, and in the meantime your bills will be much lower than without it.
 
touch said:
How would the monthly payments go wild? I have a lease car and the monthly payment is a fixed amount for the whole term. Are there lease deals available with variable payments?
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wild as in they can't afford them if their overal cost of living goes north too much as opposed to the PCP payments actually changing. Sorry I didn;t really articulate properly. If they have to make a choice between paying 400 quid a month in winter to keep the lights and heat on or carry on cruising around in a new range rover evoque, I am guessing they will default on the car payments ?
 
wildman said:
wild as in they can't afford them if their overal cost of living goes north too much as opposed to the PCP payments actually changing. Sorry I didn;t really articulate properly. If they have to make a choice between paying 400 quid a month in winter to keep the lights and heat on or carry on cruising around in a new range rover evoque, I am guessing they will default on the car payments ?
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But then if 'they' need the car to get to work then 'they' will be be in a very bad position.
 
mattyfez said:
3 years that 30k car is only going to be worth 10k at best
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not at all correct. i was looking at doing this, a £30k car, buying second hand once the new owners 3 years were up, price was about £6k less, and this was about 3 years ago. decided against it any way, not a fan of buying something on a loan, other then the mortgage of course, i will avoid it when possible. none the less, they defeintly do not drop that much. in fact, for the last couple of years, there's been word of people who have new cars via pcp, being offered like £5k to cancel it so the car can be sold else where while they are in demand, suppliers can sell them to car rental companies etc for massive profits.
 
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