Energy Prices (Strictly NO referrals!)

[Semple]

Its a wake up call to invest in the long term. We had a chance to have tidal, nuclear and other projects running by now (they were proposed decades ago) instead we just stagnated and thought about short term profits relying on cheaper fossil based fuels.

Yep and now we're all paying for that short-sightedness.

The daft thing is that the big COL subsidies the government will need to dish out to cover energy could pretty much be used to pay for solar installations on the majority of households in the UK. That'll then mean less reliance on other generation, and will probably go a very long way towards reaching net zero emissions.

 

[hillbilly2]

Maybe its getting to the point of buying a 6kva diesel generator and just running that. The small Yanmar and Kubotas are very good on diesel. That and a small battery to get you through the night. Running on red diesel obviously....

 

[Ahleckz]

I know they almost make these numbers up, but just read on sky news that by April 2023 the typical household energy bill could reach £7,700.

It'll get to a point where 99% of the country (residential and business) won't be able to afford energy. A deal for energy whether it's buying Russian gas by proxy will have to happen soon.

As much as everyone wants to stand by and support Ukraine, it can't come at the cost of destroying many UK businesses, or the deaths of hundreds/thousands of UK citizens.

If only there was some way to mitigate this. If only energy companies provided some sort of tariff that fixed your costs for the next twelve months…

Oh wait, they exist. But the media isn’t talking about this. It’s weird.

 

[Jokester]

It’s all Martin Lewis’ fault.

 

[LabR@t]

It’s all Martin Lewis’ fault.

Lol I took his advice not to fix in February, turns out that was a bad move, so yer I guess it is

 

[LabR@t]

If only there was some way to mitigate this. If only energy companies provided some sort of tariff that fixed your costs for the next twelve months…

Oh wait, they exist. But the media isn’t talking about this. It’s weird.

It's too late now the fix rates are already baked in at sky high levels.

 

[.:MBK:.]

thing is its going to keep snowballing until something fundamentally breaks at this point, the flagrant profiteering will just continue until enough of the planet stalls out surely? Govs being forced to smooth it out is ironically probably going to drag it out longer.

 

[LabR@t]

if you are a big business your energy is locked in on a cheap rate - like McDonalds

e: lol https://www.edie.net/nestle-uk-reaches-100-renewables-following-15-year-orsted-ppa/
Nestlé UK has agreed an indexed fixed price agreement with Ørsted to purchase the output of 31MW from the Race Bank Offshore Wind Farm, which was commissioned in 2018 and has a total capacity of 573MW from its 91 Siemens Gamesa 6MW wind turbines.



climate is getting warmer so you never know - they were talking about figs&avocados today in uk & hopefully we do get a mild 22 winter , even if that messes up crops next year

[guilty as charged https://bartalks.net/no-deal-brexit-could-lead-to-uk-chocolate-shortages/
Statistics showed $2.1 Billion of chocolate was imported to the UK during 2018-2019.
Chocolate supplies could become an issue because the cocoa beans are delivered through EU ports. For example, Mars brings its cocoa beans into the U.K. via Rotterdam port which then get processed in factories in the Netherlands and Germany.
The UK imports 40% of its food and 30% of that comes from Europe. Leaving the EU could lead to delays getting the produce across border control.
]

I guess we could import did from the row, just an idea?

 

[Jokester]

Lol I took his advice not to fix in February, turns out that was a bad move, so yer I guess it is

I took his advice in June not to fix because this August’s price cap was of “high confidence” of being substantially less than what it ended up being.

Energy companies must be extremely glad of Martin Lewis, he’s saving them billions.

 

[LabR@t]

They need to subsidise nation wide solar installation. Once we all have solar we then learn to live to what we generate

 

[delta0]

if you are a big business your energy is locked in on a cheap rate - like McDonalds

e: lol https://www.edie.net/nestle-uk-reaches-100-renewables-following-15-year-orsted-ppa/
Nestlé UK has agreed an indexed fixed price agreement with Ørsted to purchase the output of 31MW from the Race Bank Offshore Wind Farm, which was commissioned in 2018 and has a total capacity of 573MW from its 91 Siemens Gamesa 6MW wind turbines.



climate is getting warmer so you never know - they were talking about figs&avocados today in uk & hopefully we do get a mild 22 winter , even if that messes up crops next year

[guilty as charged https://bartalks.net/no-deal-brexit-could-lead-to-uk-chocolate-shortages/
Statistics showed $2.1 Billion of chocolate was imported to the UK during 2018-2019.
Chocolate supplies could become an issue because the cocoa beans are delivered through EU ports. For example, Mars brings its cocoa beans into the U.K. via Rotterdam port which then get processed in factories in the Netherlands and Germany.
The UK imports 40% of its food and 30% of that comes from Europe. Leaving the EU could lead to delays getting the produce across border control.
]

I’m not sure that means they get the electricity any cheaper. Many of us on providers like Octopus are also paying directly for solar and wind but we pay the rates set by the market.

 

[LabR@t]

I took his advice in June not to fix because this August’s price cap was of “high confidence” of being substantially less than what it ended up being.

Energy companies must be extremely glad of Martin Lewis, he’s saving them billions.

I bauked at going from £125 to £340 in Feb well now I'm paying £350 and if I what to fix now it's £789.

Great news! You used 10% less electricity and 27% less gas compared to the year before

Yay! Lol

 

[.:MBK:.]

They need to subsidise nation wide solar installation. Once we all have solar we then learn to live to what we generate

gov wouldn't want people "off grid", not unless they can tax you as a generator rather than consumer or something

 

[StriderX]

I took his advice in June not to fix because this August’s price cap was of “high confidence” of being substantially less than what it ended up being.

Energy companies must be extremely glad of Martin Lewis, he’s saving them billions.

I dunno about that, perhaps he's trying to use his position to force enough people into such desperation that the government will have no other option but to subsidise most of the cost or risk huge civil disobedience that there's no retreating from.

 

[LabR@t]

I truly think the wheels week come if this winter. Mass rioting strikes

 

[silversurfer]

^^ this just makes everyone poorer and reduces supply, raising prices. Dont sound too fab lol


Fix isnt a solution but a delay but yea his days as a seer of the future are over. You could take him as a contrarian signal, he now says to fix and I do hope that means the opposite and this is the top of the market prices. That would match any price graph (commodities especially) which goes up like a rocket, it can halve and some graphs posted prior in this thread looked like they were spiking; I would like half the price in conclusion

Smart meters being fitted now are all S2 or not always ?

 

[HungryHippos]

They need to subsidise nation wide solar installation. Once we all have solar we then learn to live to what we generate

Limited use in Winter time, even as I install my own system I recognise that solar is good for maybe 9 months of the year, but it's all additional baseline.

I think the problem is that solar is ££££ - £££££ to install (ask anyone who's had it done it won't be cheap) and installers are already installing it about as fast as they can.

There was a BBC article earlier that said there were 3K solar installs a week at the moment compared to 1K a year ago.

 

[LabR@t]

I plan to get it but with rising costs my disposable income is going vanish

 

[Semple]

If only there was some way to mitigate this. If only energy companies provided some sort of tariff that fixed your costs for the next twelve months…

Oh wait, they exist. But the media isn’t talking about this. It’s weird.

Unfortunately as another poster mentioned, the fixed rates are already pretty high. My fixed rate is coming to an end in October, I'm paying about £840 a year. Current estimated variable came in about 1800, with the fixed being around 3500. Yes that's not taken into account the increases in October, but you're essentially paying over the odds upfront with fixed tariffs at the moment.

There's also the issue that most suppliers won't offer a new customer a fixed rate.

gov wouldn't want people "off grid", not unless they can tax you as a generator rather than consumer or something

See I find that concept ridiculous, they could just as easily look at increasing taxes elsewhere to make up for the shortfall.

 

[HungryHippos]

I plan to get it but with rising costs my disposable income is going vanish

What they need to do is get the highest users of electric onto it, where the roof layout etc makes sense.

But then why should those people get it for free? when those of us with the means to get it are paying for it.

Perhaps more like the Scotland approach with an interest free long term loan to cover it.