Anyone that wasn't operating with very healthy margins or without significant cash reserves they're willing to burn through whilst hoping this all passes are going to seriously struggle.
Energy Prices (Strictly NO referrals!)
- Thread starter DXP55
- Start date
Soldato
I hear this and agree to a point but the insulation argument only travels so far in relation to heating. I suspect many will simply turn their central heating off this Winter (and perhaps beyond) in order to reduce costs but there is only so much you can reduce with respect to other electricity usage. Of course, none of that negates the SC.
I do like the tier proposals across both energy types.
Businesses are already paying it.
Single fuel customers, could do something like that yeah, but bear in mind it stops been tiered if you trying to cater for all usage without encouraging people to make cut backs.
I would also use the priority register to apply exceptions so e.g. people with expensive to use medical equipment and pensioners who need hotter ambient temperatures for their health.
Soldato
They should focus on peak periods of the day and encourage suppliers to offer more cheap rates to help balance the overall strain/demands. This was one of the benefits of rolling out smart meters all them years back, however they made such a fudge of it maybe this will push them to incentivise domestic users that if you have one you can try to save by off peak methods.
Soldato
It can’t be a shock - it’s been all over the news for a year now!
I think most people have their head in the sand until it actually affects them. My GF is the same, she keeps saying I'm "going on and on about solar"... Well... Yeah I am unless you want to be paying a crap ton more on electric! She knows it's going up because I keep telling her but when I try and discuss mitigating it I get moaned at! Lol.
She seems to think we will be able to afford a holiday next year as well... I think she is buried in sand to be honest!
Soldato
I told the wife this well over a year ago, coming up to two.
Anyway we have solar now. First thing she said after a week of it was a bigger setup, batteries etc! As you say, even if you explain to folk time and time, the penny only drops when the current prices are in their face.
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I was expecting around the 400 mark in all honesty not nearly 600 maybe I should cancel Netflix apparently 15 pound a month makes all the difference
Soldato
Yes but missing the angle that if you don't get it and wait for 5 years, then you've just paid for 5 years of higher costs and that's money that could have been going towards paying for the panels.
Solar is great if you can install it for a reasonable price and have the affordability to get it, and the main benefit is the peace of mind it brings with monthly electric costs being lower.
Full solar install though is best if you can make good use of most of the energy generated, they will work better for people who use a lot of electric. Light users won't see much of a benefit.
Just reading around on EU (in particular German) Gas storage. Fascinating stuff.
There is a (slim) chance gas prices could come down sooner than we think
Germany has enough storage capacity (~242 tWh) to see them through winter if usage is cut by ~20%
They are on track (so far) with building storage (~3.3 tWh per day, with 0.5tWh coming from Nordstream 1)
At 4tWh per day useage, with (say) 2.8 tWh of imports (assuming Russian gas stops completely) then German storage should see them through winter
Risks are:
Very cold winter
LNG and other imports not maintaining pace
Consumption reduction not successful
Russia reducing exports to Asia (thus adding more demand to Qatar/USA LNG etc)
Russia has been playing games with Gas pipe flows since before the Ukraine invasion (in an attempt to influence German political decisions on Nordstream 2)
But the market has priced in all of the above risks already, and everyone holds a massively nervous/negative outlook position
Once EU countries are happy with Gas storage for 22/23 winter, it will be interesting to see what happens to prices
Could backfire on Putin, if this winter proves Europe can survive without Russian gas and the politics of making decisions for local energy security (e.g. fracking) are made easier.
There is a (slim) chance gas prices could come down sooner than we think
Germany has enough storage capacity (~242 tWh) to see them through winter if usage is cut by ~20%
They are on track (so far) with building storage (~3.3 tWh per day, with 0.5tWh coming from Nordstream 1)
At 4tWh per day useage, with (say) 2.8 tWh of imports (assuming Russian gas stops completely) then German storage should see them through winter
Risks are:
Very cold winter
LNG and other imports not maintaining pace
Consumption reduction not successful
Russia reducing exports to Asia (thus adding more demand to Qatar/USA LNG etc)
Russia has been playing games with Gas pipe flows since before the Ukraine invasion (in an attempt to influence German political decisions on Nordstream 2)
But the market has priced in all of the above risks already, and everyone holds a massively nervous/negative outlook position
Once EU countries are happy with Gas storage for 22/23 winter, it will be interesting to see what happens to prices
Could backfire on Putin, if this winter proves Europe can survive without Russian gas and the politics of making decisions for local energy security (e.g. fracking) are made easier.
Unfortunately for us, we are quite light users as we aren't using much during the day, unless it's school holidays.
My plan is that during the winter if there's enough sun, I want to leave some electric radiators on to keep the temps up in the house. That way if the battery is full then we can use that energy to heat up the house for when we get in.
Most of our use is during the evening when there's going to be no light, so we need 15-20kw of battery storage to use some electric heaters etc.
Then they can be topped up over the next day or two if there's enough sun. If we can get on a cheapo night tarrif then if there's no sun we can just charge the batteries on the night tarrif.
Unfortunately, we don't have an EV vehicle and aren't likely to be getting one soon either so I'm not sure how we can sneak on to the Octopus Go tarrif!
Solar won't help people heat their homes in winter either which is the main problem coming.
Soldato
They don't have a cap, so much higher...
Yeah, I remember them telling me I wont see any return for 20 years if I was to get it but the price they're wanting is too much. I cannot remember the exact price but they wanted 15 - 18,000. Which was quite a big panel for the back of the house.
I don't think most people understand just how bad it will get
Unchecked and If take last year's usage on the latest ovo fix rate my bill for Jan would be £1200.
Obviously I will be trying to use a lot, lot less energy this year. I'm already 20% down on the summer months so I expect I can get that to 40-50% less.
That's 700kwh of leccy and 2500kw of gas.
When my eldest son lived with we had hit 900kw if electric during the winter months.
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What happens when people get to the stage only their fridge and freezer is being used and it's still too costly by April/Summer?