A well needed piece of clarification though I don't recall it from when I had my meters fitted.
Just a scare story then for the forseeable.
So you've no idea what will happen but decided to post one of the more worrying possibilities.
Energy Prices (Strictly NO referrals!)
- Thread starter DXP55
- Start date
Well since you asked.
1 - Seems my old meter was faulty, same devices now measure less usage on the new meter, granted this is not smart meter specific, but is to me at least. I wonder though how many decades old dumb meters are out there potentially faulty.
2 - Whilst yes you can turn things off regardless of what meter you got, the smart meter makes it far easier to know whats drawing power, you also have the 30 minute readings so can see when its been used as well.
3 - Some tariffs are exclusive to smart meter users and by coincidence these tariffs have been the best ones to use during this crisis. 6.11p unit cost for me today on gas tracker. During the 4 month or so period from about may to august, Octopus tracker/agile tariffs available were fairly consistently cheaper than the fixed tariffs they were offering. Go tariffs also need a SM?
The reason I think they should be mandated.
1 - It allows for more modern billing practices.
2 - It should end the estimated bill problem thats a plague to the industry right now.
Prices go up in 26 days from now, putting in any sort of system that requires updates to the billing software is very unlikely to be a success so things like tiered rates on usage if they aren't already configurable in the billing system isn't going to go live and work correctly in 26 days. No idea if all the suppliers use the same software or they write/customise their own, maybe bulb and Octopus would be able to do something but I'm going to assume here that a lot of them have some legacy software that would need complex changes made.
Hence, I think they will have to go with something that allows a price per unit to be set so I think the freezing of the price cap at current rates and allowing those on more expensive fixed rates to move back onto the cap at no charge will be the option given.
Hence, I think they will have to go with something that allows a price per unit to be set so I think the freezing of the price cap at current rates and allowing those on more expensive fixed rates to move back onto the cap at no charge will be the option given.
Soldato
True but money helps people keep a roof over their heads... Hard to be happy living on the streets or in some temp accomodation/shelter waiting on a council house.
I'd say that's something to take seriously?
Soldato
Might be time to swap your PC for a much lower powered Xbox
153w at worst is pretty good. Would be good to see the whole of OCUK do a tour of every multiplayer console game, make the best of a crysis.
I believe its the devices over a kilowatt which are causing the spike in peak demand and this type of demand is what costs so much to supply vs wholesale markets. The world cup 2022 is going to be a bit of a problem perhaps.
If everyone turned all their high usage into overnight demand then you have solved half the problem. a lot of it is reshaping demand vs supply, UK is lacking resilience.
I read Germany was convinced to not use its gas storage, Russia was willing to store all the gas for them and save them the effort. Now Russia has said remove sanctions or we turn off gas pipelines who could have foreseen this. In 2015 just a year after Russia broke its peace agrements, Germany decided they were trustworthy. Cant make it up
Yes mate. Thanks.
Well ok until Nov 2023. Were under contract with BG until then so hopefully things will have settled by then...
Fingers crossed
A spy in Carlsberg reckons something is in the pipeline for help... Whether thats everybody or hospitality or SME's.... We dont know yet... But someone is talking to the Breweries.
Poss a drop in VAT for our sector??
Soldato
It sounds like Sunaks stupid £200 loan plan, but on steroids.
Soldato
They buy energy a year in advance and the Ukraine invasion started on February 24th so.....
Soldato
UK gov can borrow money but they cant spend without a plan for repayment and it being long term beneficial. The reason being we already have a ton of debt, Truss or whoever doesnt matter but they cannot overstep the line in terms of credibility for national debt security or it will be doing more harm then good. There is zero free money, it is a question of being smart about not screwing up the economy, tax revenue, efficient usage etc.
It will be at least until 2030 till this is under control imo just because Germany lost the plot on any secure plan for their energy so if anything UK has to overproduce to make up for the failure across Europe, we are not an island in this respect.
It will be at least until 2030 till this is under control imo just because Germany lost the plot on any secure plan for their energy so if anything UK has to overproduce to make up for the failure across Europe, we are not an island in this respect.
Why can't the UK flood the market with gas from the North Sea gas fields and drop prices that way, like what happens when OPEC increase oil production.
Is there some sort of logistical problem in extracting and moving that much gas with pipelines not being in place?
Is there some sort of logistical problem in extracting and moving that much gas with pipelines not being in place?
theres loads of free money, the gov could create 10 billion and make a massive solar farm or wind farm and force electric prices down from other renewable sources.
Of course they have no incentive to because their donors probably own shares in the trusts that own a bunch of solar/wind farms.
They could also ban selling electric to Europe and end the "whole sale rates because other wise we could just sell to EU at that price if we weren't supplying you"
That's the biggest scam going.... Fulfilling our needs should be priority without blackmail prices because that's what they could sell it for elsewhere.
There meant to supply our country... not someone elses, just cut the damn lines if it reduces our bills.
Anyone with a mansion using ridiculous amounts of energy should be charged 2x the price once they use more than the national average for a regular household and use that money to pay dividends or increase capacity
like the first 12kw is at a cheap price each day and once people go over that the price doubles
Of course they have no incentive to because their donors probably own shares in the trusts that own a bunch of solar/wind farms.
They could also ban selling electric to Europe and end the "whole sale rates because other wise we could just sell to EU at that price if we weren't supplying you"
That's the biggest scam going.... Fulfilling our needs should be priority without blackmail prices because that's what they could sell it for elsewhere.
There meant to supply our country... not someone elses, just cut the damn lines if it reduces our bills.
Anyone with a mansion using ridiculous amounts of energy should be charged 2x the price once they use more than the national average for a regular household and use that money to pay dividends or increase capacity
like the first 12kw is at a cheap price each day and once people go over that the price doubles
Soldato
We dont have that much supply, apparently the UK shut down its ability to store vast quantities of gas. Ditto we've failed to create great hydro electric storage, this is useful like a natural battery. So when USA comes to us with their excess gas we sell it pretty much because we have to, we receive then export it to Europe. We got soft and weak like Germany and got used to cheap excess from Russia, why compete.
None of this was unknown 2 decades ago its all old bs, China frequently drowns the market in cheap steel which we happily buy up. The problem it destroys our steel production companies, China then withdraws the cheap steel and raises prices on us. Putin is basically just a thug trying to turn a trick for more money, I can easily believe all of this has been just a big game of monopoly to him
None of this was unknown 2 decades ago its all old bs, China frequently drowns the market in cheap steel which we happily buy up. The problem it destroys our steel production companies, China then withdraws the cheap steel and raises prices on us. Putin is basically just a thug trying to turn a trick for more money, I can easily believe all of this has been just a big game of monopoly to him
There is not enough storage which is why we are currently bailing out the EU.
If that happens its poor, no certainty so leaves fixers in the lurch as they dont know what the second 8 months would bring, but not surprised its always short termism by our parties, even unable to give a year of certainty.
If was 12 months then fixers could exit.
I wonder what made them not consider the industry loan option proposed.
If we have nowhere to store it then surely it has to go somewhere and i'm not sure it's bailing out when it's being sold at market prices? Unless we're selling for discount?