Energy Prices (Strictly NO referrals!)

  • EDF Energy UK is 100% owned by Électricité de France, a French public utility owned by the Government of France
  • Scottish Power is 100% owned by Iberdrola (listed in Spain), a Spanish energy electric utility which counts BlackRock and the Qatari Investment Authority as its major shareholders
  • In early 2019 Npower was bought by E.ON UK, making both subsidiaries of the German parent company E.ON SE (listed in Germany). Among the major shareholders of E.ON SE are RWE AG, another German energy company, Capital Group, a US asset manager, and the Canadian Pension Plan Investment Board, a Canadian Crown Corporation
  • Ovo Energy is privately owned and SSE is now part of Ovo (the two major shareholders of SSE are giant US asset managers: BlackRock and Invesco)
  • And finally the major shareholders of Centrica, the lesser-known parent company of British Gas, include the UK asset management firms Schroders and abrdn, as well as Bank of New York Mellon Corporation, a US investment bank
Surely time to bring energy companies back into public ownership. It would cost a a damnsight less than what Truss is proposing.
 
delta0 said:
Back down to mid August levels and still falling.
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the germans & eu have topped up their reserves , so there is a price/demand lull whilst we wait for winter, and demand, to kick off,
hope truss bares in mind that, before ******* off the eu with NIP issues, might mean EU / norway is less co-operative when we need emergency supplies.


Curlyriff said:
I don't get why we should be paying the debt for the energy companies borrowing. That should come out of their profit over 10-20yr, not passed onto the people.
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the ongoing (increasing) bulb debt, we are paying for, has been attributed to govt not allowing the current energy for bulb customers to have been hedged and bought on the futures market,
supposedly because that would complicate any sale.
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the truss (labour / scottish power)proposal that we will suspend the cap and everyone will then pay for that with a loan over the next 10-20 years will effectively mean the market has to be nationalised -
it's already been interfered with by permitting suppliers to offer preferential/fixed contracts exclusively to existing clients, which can't continue.
(Once the prices are 'back to normal' - what ? are suppliers going to remember individual debts based on which contract you were on during this winter.)

If the tax payer wants those loans&interest to be minimised, you can't allow the svr customers govt. loan to subsidise fixed contracts.
The suppliers will be happy avoiding the onerous issue of collecting debts, but with that, there needs to be some nationalisation controls.
 
413x said:
Tbh what else would Labour do? Nothing more probably from the average persons perspective.

Sure Labour wouldn't reduce tax for the wealthy. But people generally like the tories it seems. So all they have to do is copy labour's policies that are popular.

Hard to see how Labour can win. People don't like em. I don't like em.


Kicking the can down the road is a vote winner
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Why don’t you like them?

Labour have said they’d freeze the cap and pay for it from windfall taxes.

They’d do exactly the same as Liz, and the right wing media would deride them for it. It’s all nonsense.

There are loads of other issues beyond energy, you shouldn’t be voting for a corrupt party, full of self serving liars, that have their own interest at heart just because they did one thing that you liked. Especially more so because the opposition would likely do exactly the same.
It’s this short term thinking that gets us in a mess and doesn’t allow for any development because it’s all short termism.
You’ve been very sensible in this thread but you’ve forgotten everything bad about the Conservative party because they have done one good thing. Doff that cap, serf.
 
Beer_MonsterUK said:
  • EDF Energy UK is 100% owned by Électricité de France, a French public utility owned by the Government of France
  • Scottish Power is 100% owned by Iberdrola (listed in Spain), a Spanish energy electric utility which counts BlackRock and the Qatari Investment Authority as its major shareholders
  • In early 2019 Npower was bought by E.ON UK, making both subsidiaries of the German parent company E.ON SE (listed in Germany). Among the major shareholders of E.ON SE are RWE AG, another German energy company, Capital Group, a US asset manager, and the Canadian Pension Plan Investment Board, a Canadian Crown Corporation
  • Ovo Energy is privately owned and SSE is now part of Ovo (the two major shareholders of SSE are giant US asset managers: BlackRock and Invesco)
  • And finally the major shareholders of Centrica, the lesser-known parent company of British Gas, include the UK asset management firms Schroders and abrdn, as well as Bank of New York Mellon Corporation, a US investment bank
Surely time to bring energy companies back into public ownership. It would cost a a damnsight less than what Truss is proposing.
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I dunno. Have you seen value of EDF if they didn't already have a big stake?
 
Ahleckz said:
Why don’t you like them?

Labour have said they’d freeze the cap and pay for it from windfall taxes.

They’d do exactly the same as Liz, and the right wing media would deride them for it. It’s all nonsense.

There are loads of other issues beyond energy, you shouldn’t be voting for a corrupt party, full of self serving liars, that have their own interest at heart just because they did one thing that you liked. Especially more so because the opposition would likely do exactly the same.
It’s this short term thinking that gets us in a mess and doesn’t allow for any development because it’s all short termism.
You’ve been very sensible in this thread but you’ve forgotten everything bad about the Conservative party because they have done one good thing. Doff that cap, serf.
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I wouldn't vote for tories. That's for sure. But I'm not. Keen on starmers policies either.
I feel he's trying to appeal to tory Edge cases. That's fair enough.

I usually align with lib dem policies (to be honest I'm not up to date with their policies) and I'd vote Labour if I was in a blue/red swing seat.

But for general population, who seem to only care about the moment, this seems like it could be seen as a "thanks truss, and great policy"

I don't really think people care where the money comes from as long as it comes
 
Goodie said:
I thought gas prices were going to fly up this week with Russia turning the tap off late on Friday. Price now is lower than the close of play on Friday.
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Fears that Europe will run out of gas this Winter are fading. Germany hit its October gas storage target over a month early.

Ahleckz said:
Surely the electorate aren’t that stupid. But they are the turkeys that keep voting for Christmas…
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The Lib Dems are preparing for a snap election. Rumours around Westminster suggest that Truss is planning a bunch of popular (immediate action on the energy and cost of living crisis, tax cuts, etc.) policy announcements, and intends to ride the resulting wave of goodwill to secure herself a five year term.

Makes sense from her end I guess. It'll be interesting to see what her cabinet looks like - if she's considering a snap election then it's in her interests to distance herself from the Boris era as much as possible.
 
Mercenary Keyboard Warrior said:
Hehe maybe
She seems to bend with the wind so I wouldn't rule anything out as such
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The French press have dubbed her the 'iron weathercock' :D

413x said:
Agree.
With special dispensation for people needing high use for medical equipment etc.

We must drive down fossil fuel use. And promote solar etc.

A price cap here? In that case I made the right choice not getting solar.


2500. That would be the price point I'd really start looking at it.
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Indeed, I'm just chatting to a mate and his wife about redoing their sums based on the current cap rate. They've just signed for a monster install with battery storage based on October onwards rates. They can't really afford it but are going to finance it long term as based on October's rates the saving in electricity costs would cover the loan, not so much if the rate gets frozen.
 
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