Energy Prices (Strictly NO referrals!)

squerble said:
Found out this morning our IHD reflects the Octopus GO tariff correctly - showed 29.41kWh of electricity used by 07:15 but total cost of only £2.94, including the 47p standing charge, so just about 8.3p/kWh equivalent usage :D
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The IHD are useless on go. They treat every kwh as the lower rate. Even peak
 
LCG-xyz said:
meant for keeping reptiles warm
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I for one salute our lizard overlords. Seems a good idea, Octopus was giving out heated blankets I think it was it will be far lower cost then an entire room to heat. Easiest most durable route is heat the seat, put it under a cushion or behind then its not in the way. My old Volvo's heated seat were a god send on 6am shift starts, literal ice every morning

Article in Telegraph:
Jeremy Hunt (left) has warned the energy price guarantee will end after next spring CREDIT: Simon Walker / No 10 Downing Street

The cost of capping Britain’s energy bills is expected to be slashed by an expected 30pc slide in gas prices this winter, as mild weather and full storage eases fears of shortages across Europe.
City economists said the slump in gas prices in recent months will provide a £5bn boost to Chancellor Jeremy Hunt as he mulls options to help families with energy bills beyond next spring.
The cost of providing more targeted help after the Energy Price Guarantee (EPG) could also be reduced if prices continue to fall as expected.
Goldman Sachs has predicted that benchmark European gas prices will slump from the current level of €125 per megawatt hour to €85 in early 2023, less than a third of the €300 reached in August.
Prices have been dropping sharply amid signs that what many feared would be a bleak winter is failing to materialise.
While Goldman’s price projection for early 2023 would still be several times higher than the ultra-cheap energy that households and industry enjoyed prior to the Russian invasion of Ukraine, a further 30pc fall would significantly mollify the apocalyptic projections for bills made just a few months ago.
That will provide both a boost to households and businesses, as well as government finances.

Sanjay Raja, Deutsche Bank UK chief economist, said: “With prices dropping, the price tag for the EPG is also falling.”
He said the latest data suggests that the cost of the six-month EPG will be £25bn, “roughly £5bn lower than what was included in the Growth Plan costing”.
Vladimir Putin has been choking off gas deliveries to Europe in retaliation for sanctions, sending prices sharply higher over summer. However, his attempt to weaponise Russia’s hold on the region’s energy supply has not yet led to the winter crisis the Kremlin had hoped for. Spot gas prices in Europe even briefly went negative last week as overseas deliveries arrived at storage facilities that were already full.
“The influx of US liquefied natural gas amid decreased gas demand led to the European gas market [being] oversupplied, pushing day-ahead prices into the negative territory briefly,” said UBS analyst Henri Patricot.
“Unseasonably warm weather delayed the heating season”, he said, which helped storage levels across Europe reach 95pc by the end of October.

Storage levels have risen rapidly thanks to efforts to encourage people to lower consumption and warmer than normal temperatures in Europe in October, with a mild November also forecast.
In Britain, gas demand has been lowered by recent record electricity generation from wind farms, with more than 20 gigawatts supplied on Wednesday.
Energy prices are much lower but still not yet low enough to avoid a painful crunch for households once the EPG is replaced with scaled back support next April.
Goldman estimates that current market pricing would suggest average annual household energy bills of £3,943 without the EPG, a near 60pc increase on the £2,500 cap in place until April. Nonetheless, it is still much lower than a projection made by Cornwall Insight in August that energy bills would hit £6,600 next year.
The falling cost of gas over the winter could change the Chancellor’s calculations as he prepares to deliver his Autumn Statement.
Goldman’s projections suggest an EPG extension would lead to a jump in UK government debt above 100pc of GDP while it stabilises at a lower level without the cap.

Sven Jari Stehn, an economist at Goldman, said the energy bills support is the “biggest uncertainty on the fiscal front” but crucial for the economic outlook.
“If the EPG is ended entirely after the next six months, we would expect an even sharper recession with annual growth in 2023 declining to minus 1.8pc.”
Mr Hunt has promised bill support that “will cost the taxpayer significantly less than planned” while still protecting the most vulnerable, suggesting a much more targeted scheme beyond next spring.
Mr Jari Stehn estimates that continuing the EPG at a less generous £3,500 plus targeted support for the bottom fifth of households would be a “significantly less costly option at £21.7bn over one year”.
Raja expects the Chancellor to at least halve the cost of any energy support put in place to replace the EPG.
While the direction of energy markets is currently in Mr Hunt’s favour, they could quickly turn this winter if a cold snap hits and supply disruption continues.
Forecasters believe a colder than normal winter is more likely than a milder one.
The Met Office estimates there is a 25pc chance of an unusually cold winter, compared to a 60pc and 15pc likelihood of an average and mild season, respectively. The national weather service warned of an increased probability of high pressure around the UK, raising the odds of the cold, less windy weather that the government fears.
Goldman also expects gas prices to pick up “sharply” again next summer as European governments begin to once again rebuild storage levels in preparation for another winter without Russian supplies.
After a fall in benchmark European gas prices to €85 per megawatt hour early next year, the Wall Street bank expects prices to then rocket to almost €250.
Further falls in gas costs this winter would clearly be welcomed by the Chancellor, but the energy price crisis is far from over.
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Simon said:
The IHD are useless on go. They treat every kwh as the lower rate. Even peak
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On the contrary, ours is showing it correctly. Normal usage during the day increments at the high rate and having charged my car early this morning it showed that usage at the lower rate.
 
silversurfer said:
I for one salute our lizard overlords. Seems a good idea, Octopus was giving out heated blankets I think it was it will be far lower cost then an entire room to heat. Easiest most durable route is heat the seat, put it under a cushion or behind then its not in the way. My old Volvo's heated seat were a god send on 6am shift starts, literal ice every morning

Article in Telegraph:
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There’s a lot of expectation that gas and electric prices will fall drastically after the winter so I’m not surprised. They should have a plan B just in case though.
 
silversurfer said:
Article in Telegraph:
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even if prices drop, and the Cornwall posts suggest not, somehow the epg guarantee loan needs to be repayed, so maintaining rates wouldn't seem unreasonable (peoples bills will reduce in summer anyway)

2023 winter will still be a problem too, so building up some public credit will help.
LNG import ships each represent only a few percent of daily uk demand, and absence of better UK storage , than Rough, running at 20% wouldn't give a good reserve/safety margin for 2023.
 
Litterally sitting in the yearly country meeting for the biggest gas company in the UK that's regulated by ofgem.

The main aim seems to be under cutting work to the bare minimum to make sure we are under the budget the ofgem engineers give us so we can keep the extra and pass the profit onto the share holders....

Litterally not doing things you would normally do as part of the process to maximize the potential profit from the budget.


Get ready to run the countries infrastructure to the bone for the sake of the shareholders.

I'm sure it'll be fine till something goes wrong and the HSE gets involved. We are ******
 
So the absolute ******* over at EON have put us on a flexible tariff rather than a direct debit that pays what we use. Even though they said they hadn’t moved our fixed tariff. At a hugely inflated cost of course and haven’t given our credit back either. What absolute *******. I ******* hate this country.
 
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CaptainRAVE said:
So the absolute ******* over at EON have put us on a flexible tariff rather than a direct debit that pays what we use. Even though they said they hadn’t moved our fixed tariff. At a hugely inflated cost of course and haven’t given our credit back either. What absolute *******. I ******* hate this country.
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I didn't ask for the direct debit on what I owe but I did ask for a refund and got it back within 10 working days. Like everywhere it seems, pot luck if you get someone that wants to do their job.
 
EON business use ?

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Rishi's saying USA lng is our saviour ... but we use 7bncft/200Mm^3 / day and an LNG ship is 0.25Mm^3, will they lock us in on a price to reduce China influencing prices,
Oil prices increasing because Chine lock-downs are diminishing .. would it have been so humiliating to buy western vaccines, no ones safes till ...
 
jpaul said:
EON business use ?

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Rishi's saying USA lng is our saviour ... but we use 7bncft/200Mm^3 / day and an LNG ship is 0.25Mm^3, will they lock us in on a price to reduce China influencing prices,
Oil prices increasing because Chine lock-downs are diminishing .. would it have been so humiliating to buy western vaccines, no ones safes till ...
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Why are your posts so hard to understand?
 
Well, first bill at the full new rates. £190 up from £150. Obviously paying a bit less at the moment with that monthly credit, but still sucks. We haven't needed to turn the heating on yet, so that's a reflection of our bills outside of winter.
 
jpaul said:
EON business use ?

--------
Rishi's saying USA lng is our saviour ... but we use 7bncft/200Mm^3 / day and an LNG ship is 0.25Mm^3, will they lock us in on a price to reduce China influencing prices,
Oil prices increasing because Chine lock-downs are diminishing .. would it have been so humiliating to buy western vaccines, no ones safes till ...
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We don't use 200mscm/d we are currently using 220 mscm/d with the majority of it coming from st. Fergus, bacton and the sour gas field between Ireland and Wales.

LNG is normally only really used when the therm is high. With isle of grain and Milford haven

Remember when it comes to LNG on ships you have to multiply the volume by up to 15 and more depending on mixture for natural gas. As no pipeline in the UK moves LNG it's all in a gas composition.
 
benjii said:
Well, first bill at the full new rates. £190 up from £150. Obviously paying a bit less at the moment with that monthly credit, but still sucks. We haven't needed to turn the heating on yet, so that's a reflection of our bills outside of winter.
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we are at the cusp of heating coming on.... it came on on for a few hrs the other day.

in years gone by if my home office was as cold as it is now i would defo had the heating on (this time last year i was mining so it was fine) ... for now however i am using a jumper and a hot water bottle.

i think i will be using a lot of hot water bottles this winter - and i say that as someone who got lucky with the energy prices. i wont feel any increases till november 2023 - but am still trying to do my bit and cut usage anyway
 
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Abraxaz1 said:
We don't use 200mscm/d we are currently using 220 mscm/d with the majority of it coming from st. Fergus, bacton and the sour gas field between Ireland and Wales.

LNG is normally only really used when the therm is high. With isle of grain and Milford haven

Remember when it comes to LNG on ships you have to multiply the volume by up to 15 and more depending on mixture for natural gas. As no pipeline in the UK moves LNG it's all in a gas composition.
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ok 10% more than I suggested,

moreover, thanks, so, a more typical 0.15mscm lng tanker, scaling volume by 15, could represent 2.25mscm , more than a days UK consumption
now looking some links suggest volume might be scaled by 600 ?

I had thought 0.15mscm tanker capacity, was already de-scaled - but seems that much volume is inside 'just' a tank of radius 32m.
 
CaptainRAVE said:
So the absolute ******* over at EON have put us on a flexible tariff rather than a direct debit that pays what we use. Even though they said they hadn’t moved our fixed tariff. At a hugely inflated cost of course and haven’t given our credit back either. What absolute *******. I ******* hate this country.
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Just checked mine and my electric has been moved to the SVR and gas left on fixed tariff.. all without telling me.
 
n111ck said:
Just checked mine and my electric has been moved to the SVR and gas left on fixed tariff.. all without telling me.
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We were even told it wouldn’t change. Some moron has confused variable direct debit and variable tariff. I’m fuming. At least we have it in writing still, but I guarantee they’ll say we can’t go back.
 
n111ck said:
Just checked mine and my electric has been moved to the SVR and gas left on fixed tariff.. all without telling me.
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This is odd. In my bill both my electricity and my gas are based on the Eon fixed V19 tariff minus what the government stated we should get off of each. Then below that section I get a further reduction reducing my rates down to the SVR cap level.

Both Gas and Electricity are labelled as being Next Flex though. I'm not really fussed about that bit. I can see the numbers all align so that's all that matters to me at the moment.

Next Flex (6th October 2022 - 5th November 2022)
Energy Used 174.6 kWh @ 49.59p/kWh £86.60
Energy Price Guarantee 174.6 kWh @ 17.00p/kWh -£29.68
Standing Charge 31 days @ 42.298p/day £13.11

Next Flex (6th October 2022 - 5th November 2022)
Energy Used* 76.9 kWh @ 14.175p/kWh £10.90
Energy Price Guarantee 76.9 kWh @ 4.22p/kWh -£3.24
Standing Charge 31 days @ 27.128p/day £8.41
 
We’re getting the government discount still, but once that ends we’ll be well over what we were 43>53p elec and 10>15 gas. Next loyalty 24 was a much better deal for us, it all soon adds up.

The payment method is now ‘on receipt of bill’ though, so I assume that’s correct.

Haven’t got my nearly £400 credit back either.
 
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