Winter must be around the corner....

Graham_Devon

Inflation busting rises from the gas and electricity companies are in the news again, with British Gas likely to put prices up around 8% tommorow and 2 others having already increased prices around the same amount.

Commentators suggest that this is based on nothing more than profit making. British Gas says it will not speculate, nor comment at this point.

No doubt the government will say we need yet another enquiry on top of all the other enquiries that never appear to go anywhere. Ed Milliband is apparently jumping on the bandwagon and pointing at the government for doing nothing and he vowes to do "something".

Will add a further £100 onto the annual cost, in another inflationary pressure on families.

ILW

What would happen if the regulator just said no rises permitted for say 3 years?

moneyinmypocket

Typical - they hike it up in winter yet when they says before they where lowing it they waited right till spring - nasty vile company

sheffield_lad

there is always the same call about profit and someone will mention nationalisation (yeah right), but what never gets mentioned is we have some of the cheapest energy in Europe!

The era of cheap energy is over finished gone, the whole world wants power, half of indian homes still have NO mains electric how long do you think it will be before they want all home to have it? Where do you think they will buy the coal/gas from? The same place we do lol the markets. Demand = higher price for everyone. The same goes for power stations, one of the reasons the gov can't keep rapping the industry is they need them to build new Power stations, yet everyone wants power stations, Eastern Europe are even offering the companies subsidies to build the things. Its not all black and white better get the jumpers out as it ain't going to get any cheaper. (unless we go for shale gas like our US friends), check their gas prices since a huge amount was dumped onto the market.

ILW

I belive we have rather a lot of coal, but the EU have decided we cannot use it. They do not have such problems in China.

sheffield_lad

http://epp.eurostat.ec.europa.eu/statistics_explained/images/9/9a/Half-yearly_electricity_and_gas_prices%2C_2011s2_%28EUR_per_kWh%29.png

This shows the prices we are paying!

NEWS FLASH we are actually cheaper than France & Germany

sheffield_lad

ILW wrote: »

I belive we have rather a lot of coal, but the EU have decided we cannot use it. They do not have such problems in China.

correct Mr Eurpoe dislikes dirty cheap fuel.

shale gas is a co2 but its a lot cleaner than coal and under Wales off Blackpool and under the humber sit's millions of cuft of the stuff.

Lets copy the yanks.

chewmylegoff

howee wrote: »

http://epp.eurostat.ec.europa.eu/statistics_explained/images/9/9a/Half-yearly_electricity_and_gas_prices%2C_2011s2_%28EUR_per_kWh%29.png

This shows the prices we are paying!

NEWS FLASH we are actually cheaper than France & Germany

The reason we get cheaper fuel than the Germans and French is down to tax I believe. 40% on electricity in Germany as opposed to 5% here I think?

chewmylegoff

8% rises now won't affect anyone sensible for at least a year given that until very recently you were able to fix (with no lock in) at the most competitive of today's prices for at least a year. Obviously if you can't be arsed to keep abreast of the situation then you'll get screwed, but everyone frequenting this site should be fine unless they are blind.

Thrugelmir

moneyinmypocket wrote: »

Typical - they hike it up in winter yet when they says before they where lowing it they waited right till spring - nasty vile company

May have something to with demand.

We do import around 50% of our energy requirement now.

Bigger concern is we may not have enough generating capacity in a few years time.

That would be a way of reducing the bills though.

sheffield_lad

Fracking for gas is the other obvious solution, Wales, Humber, Blackpool trillions of cuft of the stuff build mini gas stations as in the US and see the price of gas collapse like they have there.

Generation is an issue especially when the 6 are being 'wooed' to build them over in Eastern Europe with far less hassle.