Energy Suppliers

[Semple]

Today my fixed tariff with Outfoxthemarket comes to an end.

I'm actually amazed they haven't gone under yet, as they were a very cheap provider at one point. Are they backed by a big player?

I don't work for a utility company, the only affect it's had on me is my bills going up

You should really be on the side of the poorer in society who would be getting absolutely annihilated over a barrel if the cap didn't exist.

 

[Jez]

It seems pathetic to me that electricity is becoming so expensive - how is it this expensive to generate en masse?

Clearly i could find this out very quickly, but i may as well rant. If the price goes up much further it'll genuinely be nearly as expensive as just generating your own with diesel. How on earth has that happened, you'd think mass generation would be orders of magnitude more efficient

 

[b0rn2sk8]

It seems pathetic to me that electricity is becoming so expensive - how is it this expensive to generate en masse?

A lack of a cohesive energy strategy that doesn’t rely upon imports from questionable regimes in other parts of the world and therefor impacted by geopolitical issues outside of our control. Lots of can kicking from successive governments as it’s something that’s longer term than the next election.

In reality whether it’s fossil fuel produced, nuclear or renewables, all energy is subsidised in some way directly through tax payers money or tax breaks. To be Frank, you have never paid the true costs of the energy through your bill.

Likewise the bill has a whole host of non-energy related costs which are more welfare related such as subsidised bills for those on low incomes or eco initiatives like new efficient boilers or insulation for low income households.

Governments love to tack on levy’s to energy bills that they don’t want to fund from the treasury, it’s effectively a stealth tax and they do it because people don’t actually notice.

 

[Foghorn Leghorn]

You should really be on the side of the poorer in society who would be getting absolutely annihilated over a barrel if the cap didn't exist.

I am, however the poorly thought out and implemented cap didn't allow for rises in the wholesale prices and forced several utility companies out of business because of it.

We are all going to be paying indirectly from our taxes for Bulb and we'll all be paying directly from our utility bills once the cap is lifted as the utility companies that have taken on the customers from failed suppliers will need to recoup the costs of running at a loss and absorbing those customers and honouring their credit balances (which will most likely be substantial as most when bump heading into autumn). how does any of that help the poor? Help for those in fuel poverty should come from central government rather than using a mechanism to prevent the utility companies from charging the correct rate for the utilities provided.

 

[Foghorn Leghorn]

A lack of a cohesive energy strategy that doesn’t rely upon imports from questionable regimes in other parts of the world and therefor impacted by geopolitical issues outside of our control. Lots of can kicking from successive governments as it’s something that’s longer term than the next election.

Very much that.

Relying on Russia for a necessary commodity and then being surprised when they hold Europe to ransom

Russia are trying to force through the new Nord Stream 2 pipeline that supplies into Europe bypassing Poland and the Ukraine. this will then allow them to cut off supplies to the Ukraine without affecting the rest of Europe.

Electricity, gas, water to name three should never be privatised, they should be state owned and we should be capable of suppling 100%+ of our needs, relying on other nations is a bad idea, relying on unstable nations is just ridiculous.

 

[TheVoice]

Not that I'm against smart meters at all, but I wonder how much the cost of supplying and installing millions of them has impacted on energy suppliers.

Still, at least I can now see in real time how horrifically expensive my energy is.

 

[b0rn2sk8]

There is an extra levy in your bill for installing smart meters.

 

[Sinbad2000]

It seems pathetic to me that electricity is becoming so expensive - how is it this expensive to generate en masse?

Clearly i could find this out very quickly, but i may as well rant. If the price goes up much further it'll genuinely be nearly as expensive as just generating your own with diesel. How on earth has that happened, you'd think mass generation would be orders of magnitude more efficient

IMHO the greenie-driven move away from reliable base-load technologies has caused this. Renewables are not reliable, as has been seen by the drop in their contribution to the grid because of the low wind speeds/poor sunlight/whatever. And because there's not enough base load capacity, the shortfall is generated by gas turbines, running in a gas shortage - which drives up the price of both electricity AND gas...

 

[Captain]

I haven't had any information about what's happening to my energy supplier but i have just been offered a fixed rate of £95 a month for 2 years from Scottish power.

 

[MissChief]

I haven't had any information about what's happening to my energy supplier but i have just been offered a fixed rate of £95 a month for 2 years from Scottish power.

What’s the per unit price? That’s what you need to be looking at.

 

[Captain]

What’s the per unit price? That’s what you need to be looking at.

With bulb i'm paying:

Electricity unit rate: 19.60p/kWh, standing charge 23.89p/day
Gas unit rate: 3.85/kWh, standing charge 24.87p/day.

Scottish power offer is:

Electricity unit rate: 29.00/kWh, standing charge 25.08p/day
Gas unit rate: 8.33p/kWh, standing charge 26.11p/day

 

[MissChief]

With bulb i'm paying:

Electricity unit rate: 19.60p/kWh, standing charge 23.89p/day
Gas unit rate: 3.85/kWh, standing charge 24.87p/day.

Scottish power offer is:

Electricity unit rate: 29.00/kWh, standing charge 25.08p/day
Gas unit rate: 8.33p/kWh, standing charge 26.11p/day

Is there any fee to cancel and change supplier? If prices do come down and you’re fixed this is something you need to take into account.

 

[200sols]

With bulb i'm paying:

Electricity unit rate: 19.60p/kWh, standing charge 23.89p/day
Gas unit rate: 3.85/kWh, standing charge 24.87p/day.

Scottish power offer is:

Electricity unit rate: 29.00/kWh, standing charge 25.08p/day
Gas unit rate: 8.33p/kWh, standing charge 26.11p/day

You'd be mad to switch away from Bulb right now.

 

[b0rn2sk8]

You’d be mad to take that, it’s about 40% higher than the cap.

Nothing is happening with bulb, they went into administration as they are no longer a going concern and have been funded by the government until this passes. The administrator will run them until a buyer can be found. That won’t happen until the market stabilises and the cap is considerably higher than the market rate.

They’ll probably get taken out of administration for £1 with no debt other than customer credit balances to a private equity firm (or the big 5 to run as a sub brand) once all of this passes. The government ‘loan’ they were given will be wiped out. That is the only way I can see that going.

 

[Semple]

we'll all be paying directly from our utility bills once the cap is lifted as the utility companies that have taken on the customers from failed suppliers will need to recoup the costs of running at a loss and absorbing those customers and honouring their credit balances

A rise yes, but not a rinsing so that utility companies can flood their accounts with money again. The cap is still the best thing for the majority of consumers - i say the majority as it's only a small number that wouldn't wince at paying any price per kWh.

Electricity, gas, water to name three should never be privatised, they should be state owned

Whilst i'm not disagreeing with your statements about not relying on Russia etc, i'm finding your post a bit ironic that you're claiming utility companies shouldn't be privatised, yet you're feeling sorry that they're having to quite literally drain their bank balances in order to pay for gas when the consumer is effectively paying pennies for it.

 

[TNA]

Electricity, gas, water to name three should never be privatised, they should be state owned and we should be capable of suppling 100%+ of our needs, relying on other nations is a bad idea, relying on unstable nations is just ridiculous.

+1

I never understood why we do this. It really is ridiculous.

We should be investing a lot more into green energy and building our own nuclear plant. Not getting the French to do it.

 

[Foghorn Leghorn]

A rise yes, but not a rinsing so that utility companies can flood their accounts with money again. The cap is still the best thing for the majority of consumers - i say the majority as it's only a small number that wouldn't wince at paying any price per kWh.

The rise is going to feel like a rinsing due to how much the wholesale prices have risen (Around a 500% rise since July 2020, it's dropped back a bit now but still high), current capped prices ae nowhere near where they'll need to be. Wholesale price makes up around 40% of your bill.

Whilst i'm not disagreeing with your statements about not relying on Russia etc, i'm finding your post a bit ironic that you're claiming utility companies shouldn't be privatised, yet you're feeling sorry that they're having to quite literally drain their bank balances in order to pay for gas when the consumer is effectively paying pennies for it.

Sadly the ship sailed long ago for nationalised utilities, I don't feel sorry for the companies but I do for the staff who are now unemployed through no fault of their own. I'm also annoyed that it'll be us the tax payers and customers who will be paying extra to clear up the mess.

 

[Foghorn Leghorn]

+1

I never understood why we do this. It really is ridiculous.

We should be investing a lot more into green energy and building our own nuclear plant. Not getting the French to do it.

We also shouldn't be paying VAT on essentials like gas and electric.

Rolls Royce are involved with SMR's (small modular reactors) for energy production which looks good for mid to long term.

 

[matt100]

+1

I never understood why we do this. It really is ridiculous.

We should be investing a lot more into green energy and building our own nuclear plant. Not getting the French to do it.

Because capitalism = survival of the fittest = good?

 

[TNA]

Because capitalism = survival of the fittest = good?

Well, might as well privatise the NHS also then?

Certain critical things should simply be under our own control. Should not need to rely on Russia or anyone else.