Energy Prices (Strictly NO referrals!)

[MadMossy]

Single Person Full Time 35 hours on NMW is ~£1302 net and they wouldn't be eligible for any benefits.
Single Person Part Time 20 hours on NMW is ~£820 net and they would be eligible for universal credit of ~£320.

A difference of roughly £160 per month, but when you factor in the additional costs involved, that gap shrinks even further. I know for me personally when I used to work in Exeter and commute 20 miles a day, at todays prices it would be costing me around £70 a week in fuel alone, factor in parking, maintenance and that gap decreases even more.

On the flip side the cost of staying at home instead would also have its own costs as you will be using more electricity than someone who works, but the differences are not that big. So you see why many people chose to stay at home and only work part time, the free time is more valuable than the extra £50 a month they would have working all week. This only applies to NMW, those on higher incomes its a no brainer.

 

[gpuerrilla]

How much do you earn per year and what do you do because my partner and I earn decent money between us and we aren't chucking a grand every few weeks into a savings account alongside other investments.

It could simply be a person has no rent/mortgage to pay so they are slightly more comfortable month to month.

 

[chrcoluk]

Thats a tricky one because if the energy companies were making billions from UK households I would say sure, thats wrong. If they made £50m that might only be a few pounds per UK household so completely wiping out that profit wouldn't change a damn thing for anyone. The core issue is the price of energy.

I don't understand how some of the poorer nations are going to buy energy this winter as its a global market. In the grand scheme of things the UK and its citizens are rich.

The basis is that human rights laws dont require a company to stay solvent. I expect if the court case is won the expectancy would be for the government to subsidise like France.

Ironically ofgem may have put themselves in a pickle more so than if they had no price cap intervention at all.

 

[413x]

I guess we can all agree that if this is the new norm the UK, and much of the world is ******.

I guess it can't be the new norm because of that. Most of the western world would end up bankrupt, so demand will drop.


I do wonder what suppliers will do with massive defaults? What happens if a big boy decides to bail as its too much loss?

Stock markets had a mini rally last few days. I don't get it. I feel We aren't even touching the sides of the debt hole we are about to enter.

 

[MadMossy]

Personally I think vital infrastructure and resources like electricity, water, gas should not be in the hands of private companies who's only focus is profit.

 

[413x]

Personally I think vital infrastructure and resources like electricity, water, gas should not be in the hands of private companies who's only focus is profit.

Think it probably should be. I've been told it was terrible when more things were nationalised though

 

[danlightbulb]

Think it probably should be. I've been told it was terrible when more things were nationalised though

There is an intermediate not for profit private model that could be adopted aka Welsh Water.

Fully nationalised companies can have tied hands by Governments when it comes to making capital investments which is the main problem. Fully private companies always have shareholder dividends in mind. I like the not for profit private model.

 

[Chris Wilson]

Think it probably should be. I've been told it was terrible when more things were nationalised though

Indeed it was, quite appalling at times. It's too many people, and getting worse.

 

[fez]

It could simply be a person has no rent/mortgage to pay so they are slightly more comfortable month to month.

You would like to think that if that was the case they would be a bit more understanding that the vast majority of the working age population A) don't have that much money a month after tax let alone after the mortgage/rent.

 

[Tuppy_Glossop]

Think it probably should be. I've been told it was terrible when more things were nationalised though

The main problems were inefficiency and the artificial creation of unnecessary jobs to massage the employment figures. The cost of these jobs ultimately impacted the cash available for investment in infrastructure by those companies. Private companies, however, are also accused of under-investment.

 

[413x]

The main problems were inefficiency and the artificial creation of unnecessary jobs to massage the employment figures. The cost of these jobs ultimately impacted the cash available for investment in infrastructure by those companies. Private companies, however, are also accused of under-investment.

I feel like in theory it would be better and should be nationalised. But look at how corrupt and inept government run projects can be it's probably better nationalised.


It's insane really. Even if inflation dropped to 0. We'd still have the prices we do. I think that's something most people do see.

 

[200sols]

Stock markets had a mini rally last few days. I don't get it. I feel We aren't even touching the sides of the debt hole we are about to enter.

Because stock markets are forward looking and have already taken a battering this year, underlying inflation data is hinting at a peak. Of course that could all change and if interest rate rise expectations go higher again expect further pain on the markets.

 

[413x]

Because stock markets are forward looking and have already taken a battering this year, underlying inflation data is hinting at a peak. Of course that could all change and if interest rate rise expectations go higher again expect further pain on the markets.

I know they look forward.
Personally I think it's still Premature.

I think so much of our Population is going to be squeezed by this there's more to come.

If Russia do turn off the gas to Germany....

 

[Goodie]

I think it will really hit the fan whenever it is that companies start to announce profits, supermarkets especially.

 

[200sols]

I know they look forward.
Personally I think it's still Premature.

I think so much of our Population is going to be squeezed by this there's more to come.

If Russia do turn off the gas to Germany....

Risk is still skewed to the downside for me as well but markets rarely just plummet, the downward movements are still larger than the upward movements. On the UK side, if the new PM cuts taxes it could embed inflation here. A recession is the best outcome for me.

 

[413x]

Risk is still skewed to the downside for me as well but markets rarely just plummet, the downward movements are still larger than the upward movements.

Yeah I'm holding off on buying in. I've finished selling. Building up a bit of cash to decide what I want to do with it.

 

[Tuppy_Glossop]

I feel like in theory it would be better and should be nationalised. But look at how corrupt and inept government run projects can be it's probably better nationalised.

Governments are notorious for their short termism. Private companies almost certainly plan more for the longer term.

 

[ci_newman]

How much do you earn per year and what do you do because my partner and I earn decent money between us and we aren't chucking a grand every few weeks into a savings account alongside other investments.

Yes, I suspect he's in a very priviledged position.

My household income is way way above the national average and we don't have anywhere near that level of disposable income either after housing costs and bills (reportedly my household income is in the top 4%).

 

[Haggisman]

Yes, I suspect he's in a very priviledged position.

My household income is way way above the national average and we don't have anywhere near that level of disposable income either after housing costs and bills (reportedly my household income is in the top 4%).

He's clearly either trolling or so out of touch that his opinions on the matter are essentially irrelevant, as they aren't based on the reality for most people.

 

[chrcoluk]

The main problems were inefficiency and the artificial creation of unnecessary jobs to massage the employment figures. The cost of these jobs ultimately impacted the cash available for investment in infrastructure by those companies. Private companies, however, are also accused of under-investment.

Fake jobs as they called exist in private companies as well, in particular one of the big energy suppliers has that problem. (I know given my sister is a manager there). They tend to be on the managerial level. They much easier to find out about with public owned companies hence it been seen as an issue that only exists in state owned entities. Personally I would rather have fluff that pays for fake jobs than fluff that pays for dividends.