Energy Prices (Strictly NO referrals!)

MOOGLEYS said:
More record profits announced by the oil companies in the last 3 months. Shareholders getting increased payouts. Love the fact world leaders allow this to happen but who expected anything different….
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lot of BS in the press
But that’s not how it looked in BP’s boardroom this morning as it announced profits of £7.1 billion ($8.2 billion) in the third quarter. Many of those who warned of ‘stranded assets’ are now bleating that BP and others are profiteering at the expense of the public. Joe Biden, no less, has accused oil companies of ‘war profiteering’. There have been renewed calls for more aggressive windfall taxes – on top of the one imposed by the government earlier this year. BP said it is on course to pay nearly £700 million in windfall taxes as a result of its latest figures. Just three years ago, a third of MPs demanded that their pension fund divested from oil because they saw it as too risky; now, many of those same MPs are looking to oil profits to bail out the public finances.

If the government does ratchet up its windfall tax, BP chief executive Bernard Looney has himself to blame. It was he who described the company earlier this year as a ‘cash machine’. A wiser remark would have been to say that BP was benefitting from exceptional conditions in world energy markets while reminding the world that in 2020, it made a $22 billion loss. That is the reality of life as an oil company: your fortunes will rise or crash along with oil prices – a volatile measure of success.
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£7.1bn seems to be worldwide profit not just UK generation that attracts windfall tax.
windfall tax is 25%, so that implies UK profit is £2.8bn

can't they carry previous years losses across to subsequent years, too.
 
jpaul said:
lot of BS in the press


£7.1bn seems to be worldwide profit not just UK generation that attracts windfall tax.
windfall tax is 25%, so that implies UK profit is £2.8bn

can't they carry previous years losses across to subsequent years, too.
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They are just one of a number of corporations raking in huge profits at the minute though. Every quarter they are announcing either record profits or increased profits. Not a good look when we have so many struggling at the minute.

Nothing can or will get done about it though. We are witnessing a huge wealth transfer that’s been continuous since the 2000’s at least.
 
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Well, i did a quick back-of-an-envelope calculation for the bill for the month of October, from 1st-31st and it came up to £198.71

Considering we're 4 people and there was the price rise for Oct than it's not too bad, we've halved our electric usage since August and we're using as little gas as possible

Electric usage for the month: 260KWh - average 8.3KWh a day (September was Av 9.2Kwh per day, July was Av 23.5KWh!!!!)
Gas usage for the month: 788KWh - average 25.4KWh a day (Don't have any data for previous months)
 
robgmun said:
Well, i did a quick back-of-an-envelope calculation for the bill for the month of October, from 1st-31st and it came up to £198.71

Considering we're 4 people and there was the price rise for Oct than it's not too bad, we've halved our electric usage since August and we're using as little gas as possible

Electric usage for the month: 260KWh - average 8.3KWh a day (September was Av 9.2Kwh per day, July was Av 23.5KWh!!!!)
Gas usage for the month: 788KWh - average 25.4KWh a day (Don't have any data for previous months)
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Big change on the leccy usage. What was the main change?
 
shiver said:
Big change on the leccy usage. What was the main change?
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The immersion heater in our hot water tank, it was sucking electricity like a leech and was by far the biggest culprit, which must have accounted for 40% of our usage for months. Also, we changed the rest of the lights in our home as before only about half of them when LED's, we're now at 100% LED. And finally putting a lot of our appliances on smart switches to stop stand-bys. My Denon 3600H App was still chewing through 40w per hour on standby.

Small changes to our lifestyle made a big difference. We can't do more without seriously affecting our lifestyle, i am trying to encourage my wife not to use our electric oven but i catch her doing that once a week.
 
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After doing my monthly readings last night, I can conclude that my energy bills have increased ~20% since last month.

Compared to last year, my usage is down ~25% for gas and ~15% for electric.

Bring on the blackouts next. :(
 
How on earth to you get your gas usage to be so low? I thought we were doing well, 125 aug, 179 sept, 221 oct. Heating hasn't yet been on. Family of 4 so I guess the kids baths would be the main chunk of that, albeit that's only x2 per week
 
Don’t really see the issue most people are complaining about regarding gas and electric bills.

I had my heating on all day everyday in October and still only paid £55 in gas for the month and £42 for electric.


shk4s5n.jpg
 
Captain said:
Don’t really see the issue most people are complaining about regarding gas and electric bills.

I had my heating on all day everyday in October and still only paid £55 in gas for the month and £42 for electric.


shk4s5n.jpg
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Assume you have a very efficient boiler and well insulated house? I used around 120kwh of gas and that wasn’t with the heating on. Imagine I’d be over 1000kwh at least if the heating was on all day.
 
Ahleckz said:
Assume you have a very efficient boiler and well insulated house? I used around 120kwh of gas and that wasn’t with the heating on. Imagine I’d be over 1000kwh at least if the heating was on all day.
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Yeah the house stays warm even without the heating on.

It may have been slightly higher if we hadn’t had a week of very mild weather, my heating is set to 21’c on the dial and it just comes on and off whenever it needs to.
 
Captain said:
Yeah the house stays warm even without the heating on.

It may have been slightly higher if we hadn’t had a week of very mild weather, my heating is set to 21’c on the dial and it just comes on and off whenever it needs to.
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Lucky you! Most of the houses aren’t like that at all unfortunately. I had the heating on today for an hour from 5-6 and it’s like it’s not been on now. 1920s semi, brrr! According to my barometer upstairs, it’s usually around 15c.
 
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