Energy Prices (Strictly NO referrals!)

[_Jimlad_]

loving the extreme panic in this thread its like reading a red top paper, inflation cycles happen, was not that long ago interest rates on mortgages where 5 times higher than what they are today, these things work in circles. we will all have to tighten our belts and start lobbying on employers for cost of living increases.

 

[GIBURROWS]

loving the extreme panic in this thread its like reading a red top paper, inflation cycles happen, was not that long ago interest rates on mortgages where 5 times higher than what they are today, these things work in circles. we will all have to tighten our belts and start lobbying on employers for cost of living increases.

So energy doubling in price a few months ago then will double again in October, possibly a 40% increase in January and then every 3 months or so isn't really something to worry about.....?

I'm sure they will put their prices down at some point right.....

 

[MikeTheNative]

loving the extreme panic in this thread its like reading a red top paper, inflation cycles happen, was not that long ago interest rates on mortgages where 5 times higher than what they are today, these things work in circles. we will all have to tighten our belts and start lobbying on employers for cost of living increases.

The difference is now that people's salary to mortgages is a lot higher.
The interest in the 90s was really high but the price of the house to wages was a lot lower in the first case.

How UK house prices have soared ahead of average wages

The average house price is 65 times higher than in 1970 but average wages are only 36 times higher.

www.newstatesman.com

 

[413x]

loving the extreme panic in this thread its like reading a red top paper, inflation cycles happen, was not that long ago interest rates on mortgages where 5 times higher than what they are today, these things work in circles. we will all have to tighten our belts and start lobbying on employers for cost of living increases.

That was a long time ago.
People can't afford 5x higher.
Not even 3x higher.

You've got every up ~3x in a year

You've got many foods up 50pc



Its not unreasonable for people to be worried

 

[Goodie]

The difference is now that people's salary to mortgages is a lot higher.
The interest in the 90s was really high but the price of the house to wages was a lot lower in the first case.

How UK house prices have soared ahead of average wages

The average house price is 65 times higher than in 1970 but average wages are only 36 times higher.

www.newstatesman.com

Don’t talk such sense!

 

[Minusorange]

https://twitter.com/i/web/status/1551580983383703553

Enjoy the cheap gas while you can lads

 

[PlacidCasual]

Squeezing the Germans so they can't build up a decent buffer over the Summer. That way if they want to turn the gas off in Winter every one is up the creek without a paddle having been unable to refill strategic reserves this Summer.

 

[413x]

Russias big play. And it is a big play.

 

[Zenduri]

Russias big play. And it is a big play.

It was kinda obvious that they would pull this **** though from as far back as February so if Germany has done nothing to hedge against this in the last 5 months then they cant really act surprised

 

[Andrew Moore]

Any particular reason the glut of gas we have here isn’t being ferried out of it can’t be used for what ever reason?

Not asking to be an ***, more a case of I’ve not been paying much attention to it all, I don’t know the finer details so I figured I’d ask behind a mask of ignorance. (Just in case some wise crack hits reply presuming sarcasm without confirmation)

 

[Hawk Tuah]

So energy doubling in price a few months ago then will double again in October, possibly a 40% increase in January and then every 3 months or so isn't really something to worry about.....?

I'm sure they will put their prices down at some point right.....

Of course it's a concern. But what do you suggest we do about it? Protest? Who to?

We're currently in the midst of an economic war with Russia. The country is in huge debt. What exactly do you propose?

 

[HungryHippos]

I don't think we have huge stocks of gas.

 

[200sols]

Any particular reason the glut of gas we have here isn’t being ferried out of it can’t be used for what ever reason?

Not asking to be an ***, more a case of I’ve not been paying much attention to it all, I don’t know the finer details so I figured I’d ask behind a mask of ignorance. (Just in case some wise crack hits reply presuming sarcasm without confirmation)

UK is sending gas over the Europe all the time. Mainly imported LNG because Europe lacks terminals but they are addressing that iirc.

 

[Stumble Bum]

Any particular reason the glut of gas we have here isn’t being ferried out of it can’t be used for what ever reason?

Not asking to be an ***, more a case of I’ve not been paying much attention to it all, I don’t know the finer details so I figured I’d ask behind a mask of ignorance. (Just in case some wise crack hits reply presuming sarcasm without confirmation)

The channels linking Britain to the EU have been working at full capacity. The UK has been using its excess regasification capacity to import more LNG and resell it as natural gas to Europe.

 

[413x]

Got a feeling putin (maybe less so Russia) is willing to grind the world into a big mess. His country, and particularly Europe.

Probably will be people on streets this winter. Or people just won't pay the bills. Then that has to be picked up by everyone else.

 

[HungryHippos]

Debating taking this fix with EDF, I think it's only available for existing customers.

It makes my rates higher now, but I guess it's at least 2 years of knowing what I'm paying.

Could be the best or the worst decision! thoughts?

Estimate usage for gas is about right, electric I use less now than I did, up to about 15 kwh/day or so on average I think, so more like 5500kwh per year. Last year was heavier than usual usage.

 

[200sols]

Debating taking this fix with EDF, I think it's only available for existing customers.

It makes my rates higher now, but I guess it's at least 2 years of knowing what I'm paying.

Could be the best or the worst decision! thoughts?

Estimate usage for gas is about right, electric I use less now than I did, up to about 15 kwh/day or so on average I think, so more like 5500kwh per year. Last year was heavier than usual usage.

My guess is prices will fall away sometime during next year and you'll be left on an expensive fix with massive £300 exit fees.

 

[Andrew Moore]

It isn’t helping all too much with gas or electric pricing here though is it.. it’s a shame it can’t be used rather than sold on which I assume is down to lack of infrastructure/facility to convert to power.

I’m seeing more and more solar farms pop up as I’ve traveled the UK. I do hope that the push for producing renewables and the production of infrastructure to handle it improves at a rate more quickly than it currently is though. I feel like the UK is somewhat behind the curve given it’s lack of available land and population density driving a reliance on external nations on import, what ever that import may be.

It isn’t affecting me all too much at present so I’m not all too bothered by this yet but I’d like a little more preemptive work done by our government to avoid the building reactive work I can see stockpiling in the future.

(as said, mostly ignorant to it all but it is becoming increasingly more important to know what is happening so I can perform my own preemptive maintenance in the financials at home and hopefully avoid some of the inevitable reactive ones).

 

[Andrew Moore]

My guess is prices will fall away sometime during next year and you'll be left on an expensive fix with massive £300 exit fees.

It’s a months worth of fees though so if the drop does happen and it can be recouped in a period that’s shorter than the difference in total cost over say a 6-9 month period on a new deal then what’s the problem?

 

[200sols]

It isn’t helping all too much with gas or electric pricing here though is it.. it’s a shame it can’t be used rather than sold on which I assume is down to lack of infrastructure/facility to convert to power.

It's because we have no storage not that we can't use it