Energy news in general

QrizB

Deleted_User said:

EDF to reduce power rather than cut off.

See, the built-in smart meter isolator being put to good use!

Curiousgirl1 said:

Deleted_User said:

I’m sure it didn’t say that before. Anyway, shouldn’t they do the same here? 

They just put in prepayment meters here 

That's true, it's no harder for them to switch the meter to prepayment mode.

I suspect this reflects different regulatory environments in Fr vs UK. It might be easier to cut off a customer in Fr, and easier to manage prepayment in the UK.

wakeupalarm

Wholesale energy prices hit second highest level

More bad news, over £2,000 per megawatt hour

Shedman

They hit over £3900 a week or so ago in one half hour slot (according to the Drax Electric Insights webpage)...and they've also been -£44 this morning.   

Also I don't know where The Grauniad are getting their data but there was no half hour period this evening anywhere near £2000 according to Drax site

QrizB

Shedman said:

They hit over £3900 a week or so ago in one half hour slot (according to the Drax Electric Insights webpage)...and they've also been -£44 this morning.   

Also I don't know where The Grauniad are getting their data but there was no half hour period this evening anywhere near £2000 according to Drax site

There's prices and there's prices. Drax reports two different prices, the balancing price and the day-ahead price. I think the Guardian got their price from Nordpool which has a related, but different again, set of half-hourly prices. Nordpool's prices for 1700-1730 and 1730-1800 were both circa £2000 today.

[Deleted User]

Germany has suspended certification of the Nord Stream 2 pipeline, according to the FT. Putin will not be happy, and the market probably won't be, either. 

[Deleted User]

Sure enough...(yesterday)

'Germany introduced a new wrinkle for a Russian gas pipeline. The country’s regulator said the Nord Stream 2’s Swiss owners must form a German subsidiary to get an operating license. European gas prices shot up nearly 11% on the news.'

(Quartz Daily Brief)

Shedman

UK natural gas Dec21 futures went up around 20% yesterday and a further 5% today I believe. They were £166 odd less than 3 weeks ago, they're now over £250 (50% increase) 😱

[Deleted User]

Ofgem launches 5 new Price Cap consultations 

https://www.ofgem.gov.uk/publications/overview-19th-november-2021-price-cap-consultations 

QrizB

The Chief Exectutive of Scottish Power, Keith Anderson, was on Radio 4, 0717-0724 this morning. He made the point that energy companies shouldn't be funded by customers' advance payments.

He also seemed to be arguing that the price cap should be raised to reflect the current wholesale price of energy (so 7p/kWh gas and 30p/kWh electricity) with targeted support for the vulnerable and low-waged. He might have had a point but he wouldn't be drawn on exactly how much he would like the cap to rise by, other than "several hundred pounds".

He also stated SP is a big vertically-integrated and well-funded business and at no risk from the current market conditions.

https://www.bbc.co.uk/programmes/m0011sf5 if you want to catch up.

[Deleted User]

He would say that. Well, the latter part anyway. 😉