Trying to freeze utility prices - can a labour supporter please explain how?

Fella

wotsthat wrote: »

Labour have missed the chance to rectify their error of choosing Ed Milliband as leader

Yes, the control of the party that Brown's clique of Milliband, Balls & his wife has, puts Labour in a far weaker position than they should have been. It gives the other parties a very easy way to attack them in the run-up to the next election: put simply, you know exactly what you'd get from Labour if they got in because it'd be the same Labour party that were ousted in 2010. Labour are banking on people being literally too stupid to realise/remember that these are the self-same individuals who created the policies that bankrupted the country. Hopefully people will not be that stupid.

It's interesting that Labour have abandoned all pretence of being "New Labour" now. Prior to that makeover they were basically unelectable. Astonishing that they've chosen to go back to the tactics of Kinnock etc. Shows just how devoid of ideas they are.

CLAPTON

Fella wrote: »

Yes, the control of the party that Brown's clique of Milliband, Balls & his wife has, puts Labour in a far weaker position than they should have been. It gives the other parties a very easy way to attack them in the run-up to the next election: put simply, you know exactly what you'd get from Labour if they got in because it'd be the same Labour party that were ousted in 2010. Labour are banking on people being literally too stupid to realise/remember that these are the self-same individuals who created the policies that bankrupted the country. Hopefully people will not be that stupid.

It's interesting that Labour have abandoned all pretence of being "New Labour" now. Prior to that makeover they were basically unelectable. Astonishing that they've chosen to go back to the tactics of Kinnock etc. Shows just how devoid of ideas they are.

if all that's true, then you can relax and stop posting meaningless diatribes safe in the knowledge that Labour will be wiped out at the next election leading to a massive tory majority

kabayiri

CLAPTON wrote: »

anyone know why prices or gas/electricity are expected to rise between 2015 and dec 2016?

is that green taxes/carbon whatsits, inflation or what?

Interestingly, I read a short article in Private Eye yesterday on this.

It seems there has been a 300 page consultation / agreement document drawn up between government and the Renewable Energy suppliers.

Apparently, it was full of legal jargon but in essence :-

a) the suppliers will get up to 6 times the current spot price for electricity, in effect a decent subsidy in anyones book

b) any windfall profits they make from refinancing they can now retain, and do not have to share with electricity customers

c) breaches of contract are no longer grounds for contract termination

Basically, this was a good deal from the renewables suppliers POV and an additional cost on the consumer.

You can't blame the providers for bargaining for the best deal. It doesn't quite match the rhetoric Ed M has been coming out with though does it?

Green energy already loads everyones bill by £120+.

Fella

CLAPTON wrote: »

if all that's true, then you can relax and stop posting meaningless diatribes safe in the knowledge that Labour will be wiped out at the next election leading to a massive tory majority

But I don't post meaningless diatribes. Perhaps you're confusing me with a gaping turd such as yourself?

kabayiri

grizzly1911 wrote: »

Don't they already underwrite, guarantee the unit price of energy for new generating initiatives/investments - isn't that essentially the same thing?

Isn't that one of the reasons commitment on new nuclear builds are in limbo because the appropriate rate has yet to be agreed.

The one supplier left in the bidding game for the new reactors is holding out for 50% more than the government is offering.

It's not really a healthy free market when you have only one supplier effectively bidding I guess.

Rinoa

This chart produced by the EU commission.



UK prices for both industry and household look competitive.

Kennyboy66

michaels wrote: »

I bet 'wholesale prices' is the largest part and I can't see how a govt can control these. Of course they might fall during the fixed period (it has happened before' in which case the suppliers might make a huge windfall profit but equally they may rise and although allegedly suppliers are very profitable I bet they still only make a few percent on turnover and would be wiped out by a 10% increase in wholesale prices.

Still price fixing by govt works well, go to Venezuela and ask for some toilet paper...

Wholesale prices make up roughly 47% of consumer energy bills.

Retail profit margins are in the region of 5-6%.

Labour have estimated that this will save domestic consumers £2.5 bn (based on them saying that it will save £120 per household) - they also claim that companies have made £3.9 billion in "excess" profits since 2010.

It is a profoundly depressing policy / idea but you could argue its no different to a windfall tax (if it was capped at some kind of level).

Its populist idiocy but I honestly thing the 2 Ed's have no chance at the next election.

They have gambled everything on the economy flat-lining and the deficit not being cut in a meaningful way. It looks like the will be wrong on both counts, hence a rush to bring out policies.

They have also decided to just target roughly just over 37% of the vote which would mean they could scrape a majority (due to the bias in the electoral system at the moment), and probably don't need to appeal to many floating voters.

wotsthat

Rinoa wrote: »

This chart produced by the EU commission.

UK prices for both industry and household look competitive.

UK prices for gas and electricity have been competitive for ages.

Ed Milliband can make these promises safe in the knowledge that a disengaged electorate won't probe too deeply.

The media have been telling us for years that the utility companies have been doing us over so it must be true. How many people in the UK would take the time to find the same information you have.

Kennyboy66

Fella wrote: »

But I don't post meaningless diatribes. Perhaps you're confusing me with a gaping turd such as yourself?

Lovely.

And people wonder why the more intelligent posters, who offer a bit of insight have disappeared.

ILW

wotsthat wrote: »

UK prices for gas and electricity have been competitive for ages.

Ed Milliband can make these promises safe in the knowledge that a disengaged electorate won't probe too deeply.

The media have been telling us for years that the utility companies have been doing us over so it must be true. How many people in the UK would take the time to find the same information you have.

Prices seem to be roughly European average and way more expensive than the US. Strange definition of competitive.