Energy Prices (Strictly NO referrals!)

[jpaul]

European prices were a function of their various environmental policies ..
but the french either for political reasons, or fear of riots are capping the prices now, but, probably more masters of their domain with in-house energy generation capability

e:at 80p/unit , for us, the hot water in the pot of tea will cost more than the tea I think

An Ofgem director has quit over the electricity and gas regulator's decision to change the way it calculates the energy price cap, which she said will lead to much higher bills.

fixed price deals they have offered over the past months are testament that they can lock in prices - why that couldn't have been extended to their svp customers ?
.. moreover a limited supply of energy means the fixed price gain for some translates to a price hike for others.


re-reading this LOL V

https://www.investorschronicle.co.uk/education/2021/02/18/lessons-from-history-why-2008-housing-crash-won-t-repeat-post-pandemic/

..
At the same time, the strain on household incomes led to a rise in borrowers falling into arrears on their mortgages as more people struggled to keep up with repayments. Between the start of 2008 and the second quarter of 2009, the number of mortgages in arrears of more than 2.5 per cent of the balance had risen by more than two-thirds to 216,400, or just under 2 per cent of outstanding mortgages, according to UK Finance.

The cost of borrowing added to the strain: the month Lehman Brothers crashed, the average UK mortgage interest rate stood at just over 6 per cent, FSA data shows. A rise in forced sellers, set against weakend demand, ultimately weighed on sales prices in the broader market.

Entering the pandemic, the cost of debt has been far less of an issue, even for those that have not taken advantage of a mortgage payment holiday. The average interest rate during the third quarter of 2020 was just 1.94 per cent. Given warnings to lenders to prepare for negative rates over the next six months by the BoE, borrowing rates are unlikely to head north anytime soon.
....

 

[Devilman]

I don't understand why you think there will be huge unrest. This isn't like the poll tax, it's raw material prices increasing - what would they be protesting against?

Because when you have a system which results in a large portion of the population unable to make ends meet, while certain sectors (which are the direct cause of the unsustainable prices) are still reporting record profits year on year on year eventually people figure they have nothing left to lose.

 

[ultralaser]

Because when you have a system which results in a large portion of the population unable to make ends meet, while certain sectors (which are the direct cause of the unsustainable prices) are still reporting record profits year on year on year eventually people figure they have nothing left to lose.

I get that I do. But with unrest you generally have a target for your anger, I don't understand the target or point of unrest in this case or why people would be up in arms.

 

[LabR@t]

I get that I do. But with unrest you generally have a target for your anger, I don't understand the target or point of unrest in this case or why people would be up in arms.

It will be the government

 

[Zatoichi.uK]

There's plenty to aim at the government.

Lack of energy security. Short sightedness in investment over the last several decades. No cohesive plan STILL whilst we wait around.

Oh yeh and shutting the country down furloughing most of the country, record lending, pointless projects creating record inflation exacerbating the current financial situation. It's all on the government.

 

[theone8181]

I wish it was that. Unfortunately it isn't close to correct. They never explain why. They also have literature on their site and what they send you with different % figures. For a start the base is a flat 18% now which the calculator doesn't even do as that would be £727.50 and then as mentioned there some back payments because she changed her mind on paying an agreed sum so I just have to deal with basically.

Sorry if I've missed why, but why don't the kids stay sat night if you have them both days. Wouldn't that reduce how much they are charging you? Fwiw I've 2 kids and am married and we don't spend that much on them, I reckon probably less than 100 quid a month for everything (excluding summer hols, that's been expensive ).

 

[Uther]

I get that I do. But with unrest you generally have a target for your anger, I don't understand the target or point of unrest in this case or why people would be up in arms.

People will expect their government to help them. The government would be wise to do so or things will get out of hand very quickly if millions of people can't afford to heat their homes or buy food...

 

[chrcoluk]

Apparently meter rigging is rife amongst takeaway establishments, and it barely gets policed. This is claimed by anonymous industry insiders on MSE. Industry apparently just instead treats it as leakage and cost recovered amongst rest of customer base.

 

[chrcoluk]

I guess. Can see 5-6% doing it for some people and we are not that far off that already. New mortgages already about 4% and BOE projected to increase base rate up another 0.5% to 2.25% next month.

I ran the BBC's inflation checker and its claiming average rental inflation is only 4%, thats not even as high as official rent inflation stats for my region never mind my own rent inflation and what I seen in my city. So not sure how they working that out, I wonder if they including social rents to mask the figure. The question it asks if you homeowner or renting, doesnt differentiate between social and private rental so I suspect its masked.

 

[Surveyor]

Sorry if I've missed why, but why don't the kids stay sat night if you have them both days. Wouldn't that reduce how much they are charging you? Fwiw I've 2 kids and am married and we don't spend that much on them, I reckon probably less than 100 quid a month for everything (excluding summer hols, that's been expensive ).

Less than £1.66 per child per day for everything except summer hoildays, and they say kids are expensive.

 

[chrcoluk]

There was a report from the BoE that said 9% was tolerable. If I find it I’ll post it. Worth also considering that homeowners are usually much further up the earning and saving bands then non home owners. They are more able to withstand financial pressures.

If a BTL mortgages costs go up you dont think he/her passes on to tenants?

 

[chrcoluk]

How many of you guys think you might genuinely turn off the heating this winter?

Obviously it saves a hell of a lot of cash. But comes with misery and bad health.

When does it become better to spend 6 months in somewhere cheap and hot?

I will but I dont use it anyway unless its extremely cold (usually when snow outside).

I might buy a hot water bottle for my feet.

 

[Goodie]

I will but I dont use it anyway unless its extremely cold (usually when snow outside).

I might buy a hot water bottle for my feet.

A very discrete flex of being able to afford to boil a kettle there.

 

[chrcoluk]

There's plenty to aim at the government.

Lack of energy security. Short sightedness in investment over the last several decades. No cohesive plan STILL whilst we wait around.

Oh yeh and shutting the country down furloughing most of the country, record lending, pointless projects creating record inflation exacerbating the current financial situation. It's all on the government.

I compared us to America.

They produce as much as they use although they export some of it.
They currently import about 20% and its dropping over time.

We dont produce as much as we use.
We import about 46% and its currently rising.

Europe as a whole imports way too much hence the region been hit so bad.

In 1998 we were a net exporter.

 

[phill9800]

I compared us to America.

They produce as much as they use although they export some of it.
They currently import about 20% and its dropping over time.

We dont produce as much as we use.
We import about 46% and its currently rising.

Europe as a whole imports way too much hence the region been hit so bad.

In 1998 we were a net exporter.

I can add in on this a little bit since my best mate lives over in the US, he's just noticed his electric/gas going up and he was paying something like 12 cents a kW, then it went to 18 cents, he's just found a deal for 8 cents and he doesn't have a daily charge...

Compared to over here, we did some calcs on what he was using once, $700 a month it was for him, over here, it'll had been £1900 or so.. Just on the power. He was running a lot mind but still, couldn't get over the price.... I think that was when it was a little over 10 cents a kW... How I miss cheap electric... lol

 

[chrcoluk]

I can add in on this a little bit since my best mate lives over in the US, he's just noticed his electric/gas going up and he was paying something like 12 cents a kW, then it went to 18 cents, he's just found a deal for 8 cents and he doesn't have a daily charge...

Compared to over here, we did some calcs on what he was using once, $700 a month it was for him, over here, it'll had been £1900 or so.. Just on the power. He was running a lot mind but still, couldn't get over the price.... I think that was when it was a little over 10 cents a kW... How I miss cheap electric... lol

Yeah on TPU where most are American, they act all baffled when I explain things I do to save electric now like turning off PC when going bed, undervolting, spinning down spindles in NAS etc. they all like dude it just saves about $5 a year.

 

[LabR@t]

Europe is broken.
The CIA's plan to stop the eu overtaking USA has worked.

 

[Mickie]

Europe is broken.
The CIA's plan to stop the eu overtaking USA has worked.

Who controls the CIA?

 

[StriderX]

Europe is broken.
The CIA's plan to stop the eu overtaking USA has worked.

Huh?

Pretty sure Europe not being in perennial conflict has been a huge boon to American prosperity.

 

[_Jimlad_]

There's plenty to aim at the government.

Lack of energy security. Short sightedness in investment over the last several decades. No cohesive plan STILL whilst we wait around.

Oh yeh and shutting the country down furloughing most of the country, record lending, pointless projects creating record inflation exacerbating the current financial situation. It's all on the government.

most countries are in the same boat...