Energy Prices (Strictly NO referrals!)

Foghorn Leghorn said:
The French press have dubbed her the 'iron weathercock' :D



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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Think it was premature to get a solar install before new pm result.

But I get it. The pressure and not knowing what's gonna happen and lead time. Just shame tories held out on any hint of help until now.

Hopefully it's a long term home and they can profit from it. But I wouldn't have made any solar decisions in last 3 months for sure.
 
jpaul said:
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.



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.
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EU is not going to get through the winter without supplies from the UK. Not even close.
 
HungryHippos said:
I agree with a previous reply though, needs to be a drive to lower usage still.

How many people will try and do that when the cost is fixed here?

Fixed at October rates would certainly have people scrambling to cut usage.

Also needs to have extra generation spun up to control costs, in 18 months if wholesale rates are high still, then how long can they apply the plaster for?
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Maybe the tier system would be good. Capped at whatever price we are getting now for a certain amount of usage, then over that it starts getting far more expensive.

Even if we are getting this freeze I'm still going to cut back like we have been, used 250kWh less over June, July and August compared to last year and it hasn't effected day to day stuff or anything really.
May as well keep doing it.
 
Most solar installs I have heard about are cancellable anyway, with some minor costs (some are not refundable such as application fees, survey fees etc)
So if Truss gets in and you want to cancel a recently placed order its still a possibility.

I still think solar makes sense, most systems will have an ROI between 6-10 years even with current pricing.
Thats still not bad, and for most a decent chunk likely can be taken if the prospective future house owner doesn't want to pay a half decent amount for the system.
Eg for mine the batteries, inverter and solar diverter are around 50% of the total cost. All relatively easy to remove.

And thats completely ignoring the benefits to the economy if we see far more solar added, we will all in effect be helping towards that energy security and stability we all want.
 
scarps said:
Maybe the tier system would be good. Capped at whatever price we are getting now for a certain amount of usage, then over that it starts getting far more expensive.

Even if we are getting this freeze I'm still going to cut back like we have been, used 250kWh less over June, July and August compared to last year and it hasn't effected day to day stuff or anything really.
May as well keep doing it.
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Problem with this is, as per the conversations around the forums, is that many factors, many of which were not predictable, or in the property occupiers control can make a massive difference to what fair usage is.

- Size and detached/semi of house/flats
- Age of house/flat
- Age of residents
- Time spent at the property
- Illness
- Number of residents
- Ability to afford energy efficient devices, or even have control of that (eg renters have limited control)
etc

There is a vast difference between various combinations of what is a reasonable amount, and its far easier for the well off (likely home owners) to make changes that would affect their situation more then say a disabled pensioner on benefits in a rented uninsulated old leaky house with a set of 30 year old storage heaters and an immersion heated water tank.
 
It’s now being reported that there’s a different plan. Cap of £2500 being mooted.
Energy company profits will be held at what they are at at a minimum, and it’ll be paid by general taxation.
Everyone still happy with this? We are paying to allow the energy companies to have such huge profits. Whereas they could windfall tax, and let the energy companies pay for it themselves.
 
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