Energy watchdog Ofgem chief warns of bill rises

Ecodave

GlynD wrote: »

I don't know why this press release has gone out the day after a new gas field was discovered in the North Sea, and if my memory serves me right that's the second new discovery in a month. Not to mention the fact that three new nuclear power stations are to be built.

My cynical mind tells me this has been released to cover something else - but what?

I think it was an oil field that was discovered in the North Sea so won't help keep the lights on for me.

GlynD

Ecodave wrote: »

I think it was an oil field that was discovered in the North Sea so won't help keep the lights on for me.

There have been recent new oil discoveries too but the one I saw was on text and it was gas. I'm nearly sure it was the Darwin Field. Of course it's often the case that these things are linked.

They're expecting a boom in the North Sea apparantly http://www.bbc.co.uk/news/uk-scotland-scotland-business-21003704

Of course an oil fired power station is just as good at generating electricity as a gas powered one

penrhyn

They might want to fire up Little brook D, oil fired around 1200Mw, when the wind ain't a blowin to power the 600 or so windturbines needed to produce the same power.

GlynD

penrhyn wrote: »

They might want to fire up Little brook D, oil fired around 1200Mw, when the wind ain't a blowin to power the 600 or so windturbines needed to produce the same power.

Good point. AFAIK there are a number of OF power stations in mothballs around the country.

penrhyn

I love the smell of Naphtha in the morning:D

Dave_save

GlynD wrote: »

Good point. AFAIK there are a number of OF power stations in mothballs around the country.

This is a cunning plan to attract the moths, to flap wings and drive wind turbines... brilliant!

Ecodave

Dave_save wrote: »

This is a cunning plan to attract the moths, to flap wings and drive wind turbines... brilliant!

Don't mothballs repel moths?:D

rogerblack

GlynD wrote: »

I don't know why this press release has gone out the day after a new gas field was discovered in the North Sea, and if my memory serves me right that's the second new discovery in a month. Not to mention the fact that three new nuclear power stations are to be built.

Assuming the above gas comes on line promptly.

Gas is a traded commodity.
Its price is - largely - set by the global market - with a little bit of variation for costs of transport.
If the UK discovers a new gas field, it can of course sell that gas at an artificially low price to domestic customers - but this is in effect a subsidy.

I am unsure if subsidising gas in this way would be either legal, or sensible, compared to what was done in Norway, for example.
To quote wikipedia "As of 30 September 2012 its total value is NOK 3.7trillion[1] ($654 billion), holding one percent of global equity markets."
Any new gas reserves must be invested for the future in ways that will continue to keep britain prosperous - not simply burned to keep the lights on for another decade.

Road_Hog

Same as I said in the other thread.

For all those that believe in global warming and the climate change theft.

Ask your self this, why have gas prices risen so much in the last 5 years when wholesale prices have remained the same?

Why has the current and previous chairman (both still on the committee) of the green energy committee both got sizeable financial interests in the wind far/green energy business and make good money from taxpayer subsidies each year and one of them is currently under investugation for not declaring it.

The two gentlemen's names are John Gummer and Tim Yeo. And SamCam's dad is also making £350,000 a year from the taxpayer in subsidies and is set to make more - that's Cameron's father in law.

So, you green and cold with no money and they go very rich.

You can check out the names in Google to confirm it.

GlynD

rogerblack wrote: »

Assuming the above gas comes on line promptly.

Gas is a traded commodity.
Its price is - largely - set by the global market - with a little bit of variation for costs of transport.
If the UK discovers a new gas field, it can of course sell that gas at an artificially low price to domestic customers - but this is in effect a subsidy.

I am unsure if subsidising gas in this way would be either legal, or sensible, compared to what was done in Norway, for example.
To quote wikipedia "As of 30 September 2012 its total value is NOK 3.7trillion[1] ($654 billion), holding one percent of global equity markets."
Any new gas reserves must be invested for the future in ways that will continue to keep britain prosperous - not simply burned to keep the lights on for another decade.

It's not the UK who discovers new oil and gas fields mate, it's private companies who then sell the oil and gas to the UK. Not much chance for a subsidy there.