Energy Prices (Strictly NO referrals!)

ltron said:
Can you back this up? Our energy bills are rising more and faster as far as I can tell.
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As I said Germany currently pays more for energy than we do. They have no price cap. Their forecasted rates are also much higher going through the winter. This is from my German colleagues but a quick google shows that Germany has the highest prices in Europe.
 
ltron said:
On the first point, they promised otherwise. Were they lying? ;) Anyway you can leave the EU politically but remain in the customs union and single market, that is a type of Brexit. Gas is a global market and we are disproportionately reliant on it; have poorly insulated homes and very little gas storage capacity, so we will suffer massively anyway in addition to the economic hit from Brexit.

I mean acting to reassure people and mitigate the effects before the price cap went up again (all our European neighbours acted months ago and this has been effective in the mitigating rising bills, ours have gone up the most by comparison).
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Problem is if we had of done that (remained in single market etc) we would have lost our seat at the table, lost our ability to develop the rules and at worst case veto them
It would literally have turned us into the member the liars (such as Farage) made us out to be to dupe the wallies; someone who had to take all the rules France and Germany came up with.

The only positive that can be identified so far from Brexit is that snake oil salesman & perpetual liar has struggled to find himself any public voice. There I found one, a Brexit benefit!!!
 
delta0 said:
Problem is the local sourced supply is priced on a global market. The UK is almost self sufficient on gas, especially since the increase in production over the last few months. Best thing is to switch away from energy that relies on fuels that are traded as a commodity. Technically nuclear fuel is but we own the most of any country of plutonium so we are very self sufficient on this.
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Not if you keep it off the market or legislate it cannot be sold on the global market.

There is no need to involve private companies (maybe only as contractors as MKW suggested) other than for the retail side.
 
chrcoluk said:
They have same problem as us, relying too much on imports instead of own local sourced supply.
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Although they have much more gas storage capacity than us and yes they are switching to renewables and LNG at breakneck speed from the US and others. Their homes are better insulated and we in the UK have among the highest gas use in Europe both due to using it for electricity generation and because 85% of our homes use a gas boiler which is higher than our continental neighbours.
 
Mercenary Keyboard Warrior said:
Problem is if we had of done that (remained in single market etc) we would have lost our seat at the table, lost our ability to develop the rules and at worst case veto them
It would literally have turned us into the member the liars (such as Farage) made us out to be to dupe the wallies; someone who had to take all the rules France and Germany came up with.

The only positive that can be identified so far from Brexit is that snake oil salesman & perpetual liar has struggled to find himself any public voice. There I found one, a Brexit benefit!!!
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I agree it wasn't ideal, but still much better than our current situation. I wanted a confirmatory referendum.
 
ltron said:
Can you back this up? Our energy bills are rising more and faster as far as I can tell.
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I would say apart from France who invested in Nuclear. Everyone else is pretty buggered. When Lithuania shut down their Nuclear power station which supplied 70% of the countries electricity (As part of their membership to the EU) their energy prices went up by 30%. Now it is even worse for them as they import 70% of their power and still have nothing planned to replace their NPP.
 
ltron said:
Can you back this up? Our energy bills are rising more and faster as far as I can tell.
Click to expand...
delta0 said:
As I said Germany currently pays more for energy than we do. They have no price cap. Their forecasted rates are also much higher going through the winter. This is from my German colleagues but a quick google shows that Germany has the highest prices in Europe.
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The base price has increased by 860% according to Bloomberg. The graph is very scary, going almost vertical. The winter is going to be tough in Europe too. https://www.bloomberg.com/news/arti...800-euros-in-latest-inflation-boost#xj4y7vzkg
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When are energy companies expected to notify customers what their prices will be? I've tried to ask EDF who say I will know by the 1st of October. Useful!
 
How many in this thread are still on a fixed price contract?

I know someone who took out a 3 year contract in Sep 2021 so they are sitting pretty through all this!
 
norm said:
How many in this thread are still on a fixed price contract?

I know someone who took out a 3 year contract in Sep 2021 so they are sitting pretty through all this!
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I am, but only until February next year. I still feel very fortunate, but I know I am just kicking the can down the road.

That person was very clever to do that.
 
purplesky said:
Inflation has never been 2%. It's always been much higher, it's just that the increased prices over the last few months have been too high for even the average idiot to have not noticed. The central banks couldn't have continued to lie about it.

Also I predict inflation will not peak until around late 2024. Expect caps of around £15k at the peak before falling and resting to the new normal of around £8k.
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Read the post, then checked the poster, then it all made sense.
 
ltron said:
Yes, we have all been poor at tackling the climate crisis but some have been much poorer than others. Remember it was Cameron who got rid of the 'green crap' where millions of homes were being insulated a year until he throttled it, removed solar panel subsidies and even though they say they support nuclear power their record on it has been a travesty.
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I must agree, if you look at decisions made by the Tories in the past - given the current situation, it does'nt look good for them.

delta0 said:
I agree, if we don’t continue to push through to energy and fuel sources other than gas, petrol/diesel etc. we will have worse problems coming. The sooner we switch over to renewables/nuclear the better.
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I don't know if we have the time - the time for the best solution has long gone, now it seems to be a choice between the least worst one. But yes, renewables/nuclear seems the way to go. The thing is, we're probably 8-10 years away from that being possible.

My guess is that the government will be forced to take Labour's line and freeze or significantly reduce the price cap - to be funded by taxes on energy companies and/or some kind of fund they can dip into (to the tune of 100 billion), which be paid back in the coming decades (on top of Covid expenditure). That will only get us through the winter. After that I have no idea. I imagine the government are hoping things will settle down regarding the war in Ukraine and the Russians restricting the supply of gas, which frankly I think is a vain hope, even the knock-on effects of this are going to be significant . I'm sure we can source gas elsewhere, I just don't think we can do it in time.

I think I've said this before, but look to the 1970's if you want an idea of where we're heading. It could be very grim for a lot of people.
 
norm said:
How many in this thread are still on a fixed price contract?

I know someone who took out a 3 year contract in Sep 2021 so they are sitting pretty through all this!
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I am.
Took 3 years in October and
My fix ends on September 2024.

E: 22p unit 23p standing
G: 5p unit 24p standing?


Its saving me 1000s. 100s per month from October

I think from October it's saving me 300 a month over winter. Maybe 400 after January And probably 200 over next summer.

Our summer bill on that tariff is 85 a month ish
 
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