Energy Prices (Strictly NO referrals!)

Interesting. Seems a bit scary though.

I am a tiny bit confused, this is what I am paying now for elec and gas. Is there anyway to check the daily wholesale price before I sign up to that and will the electricity stay capped at 55p no matter what for a while?

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Those are the cap rates and on 1st October will go up to what has been posted earlier in this thread (52p electric/15p gas)

Current/historical tracker prices are visible here: http://mysmartenergy.uk/Tracker/West-Midlands

To be honest, yes, the prices will almost certainly be stuck at the cap for the foreseeable future, so probably best to look at it as a fix at 55p electric/16p gas (but with a very slim chance it could come down a little).

A bit higher than the October rates, but almost certainly lower than the January & April caps (depends of course what the govt. do). It's certainly a better "fix" than the one you posted above

Edit: there's also Agile, which is also capped at 55p and works on a similar basis, and calculates cheap/expensive periods during the day, but I believe that is only for electric.
 
Thats the older Agile tariff no longer available, its now 55p.

I posted about Agile early July on here when it was still available but only person signed up, the second time I posted it had been removed.

However the 55p agile is better than all the fixed they offering, so if you want a fix on Octopus to save you January onwards its the best one, and daily rates might occasionally fall below the 52p SVR rate.

The 18 month graph shows how bad things are.


Yeah cheers. Since the T&C on their website when you go through signup are not updated and so it shows 35p still which of course they wont honour. I guess the thought is that if the variable is 52p how much extra is 3p to be fixed then especially come January.

Is it locked for 12 months at that amount, i.e 55p or is it reviewed monthly? Looking at my spreadsheet if I went Agile now and it is locked at 55p then I would be £60 better of than risking it on the variable. I would be paying more till January by about £7 a month but then be better off there after. It easy to come off later on. But yeah it not clear on their site if it fixed for 12 months as max 55p to make it worth while to risk the additional £7 month.
 
Short version : Because a lot of our electricity generation comes from Gas Power Stations. Since the war in Ukraine has reduced the amount of gas being supplied then the world is competing for the remaining Gas supplies, including LNG, that we use a lot of. Short supply + high demand = high price = high cost of electricity generation.

Global manufacturing and transportation lines are still ****** from Covid, again high demand + low supply of goods = rising costs.

When it comes to the EU there are four main gas pipelines:
1.)Nordstream 1
2.)Nordstream 2
3.)Yamal through Poland
4.)The one through Ukraine.

Nordstream 2 is offline permanently. The Yamal pipeline was shutdown as Poland refused to pay for gas in Rubles and had an LNG terminal so relied on reverse gasflows from Germany(ironically using gas from Nordstream 1) for extra gas it required and Ukraine accused the Russian separatists of stealing gas so shut down that one:

So with 3 our of 4 pipelines out of action,Russia now using maintenance and sanctions as an excuse to muck about with gas supplies for leverage. Apparently millions of pounds of gas are being burnt off a day:

Then a major US LNG terminal exploded last month:

In the case of the UK we should be OK,but the Conservatives fully privatised North Sea Oil and Gas,so it means we are exporting gas to Europe which we need. Then the government was not interested in maintaining our LNG storage capacity so 70% was shut down in 2017! This means we can't even store our LNG or North Sea gas during the summer when its cheaper,so we ended up exporting it to the EU:

IIRC,at one point we had too much gas so had to sell it off at relatively low price:

The reality is that the UK has been screwed by poor government policies. The UK has some of the highest energy bills in Europe now(even worse than Germany IIRC) even though we don't really on Russian gas and oil.
 
Yes, I read about that storage thing under the north sea, government refused to pay the repair/upgrade costs.....

Honestly we need a general strike to get rid of this bunch of incompetent ******* ousted. Going to be fun when the teachers kick off when they are due to start back (cant have them upsetting their holidays now)
 
When it comes to the EU there are four main gas pipelines:
1.)Nordstream 1
2.)Nordstream 2
3.)Yamal through Poland
4.)The one through Ukraine.

Nordstream 2 is offline permanently. The Yamal pipeline was shutdown as Poland refused to pay for gas in Rubles and had an LNG terminal so relied on reverse gasflows from Germany(ironically using gas from Nordstream 1) for extra gas it required and Ukraine accused the Russian separatists of stealing gas so shut down that one:

So with 3 our of 4 pipelines out of action,Russia now using maintenance and sanctions as an excuse to muck about with gas supplies for leverage. Apparently millions of pounds of gas are being burnt off a day:

Then a major US LNG terminal exploded last month:

In the case of the UK we should be OK,but the Conservatives fully privatised North Sea Oil and Gas,so it means we are exporting gas to Europe which we need. Then the government was not interested in maintaining our LNG storage capacity so 70% was shut down in 2017! This means we can't even store our LNG or North Sea gas during the summer when its cheaper,so we ended up exporting it to the EU:

IIRC,at one point we had too much gas so had to sell it off at relatively low price:

The reality is that the UK has been screwed by poor government policies. The UK has some of the highest energy bills in Europe now(even worse than Germany IIRC) even though we don't really on Russian gas and oil.

Thanks for that post and info/insighs, it's really eye opening just how incompetent out gvmt has became and the horrendous mistakes we've made.

What a mess.
 
Thanks for that post and info/insighs, it's really eye opening just how incompetent out gvmt has became and the horrendous mistakes we've made.

What a mess.

To put it in context Norway owns part of its own oil and gas,so used it to build up a $1.2 trillion wealth fund. Then you have Boris,Truss and various ministers saying "we should be all prepared to pay these prices" for Ukraine,when its quite clear a lot of it has nothing to do with Ukraine. Its like during the pandemic when the government bought stuff from new companies,mates,etc and the Treasury had to write off over £20 billion off in fraudulant covid loans and dodgy PPE:
 
Anything good for cold hands? Sitting working at home at the computer that's what gets really cold and stiff.
Fingerless gloves aren't enough.

Funny I have been thinking the same

 
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