Energy news in general

tlcgrantham

Very grateful for you taking the trouble to post these updates 

Mstty

People can generally bear a bit of inflation even 10%, it's not nice but most can work around it and shave savings. 

But these sort of energy price rises and completely out of control and affecting the whole world (as is inflation for most countries with maybe the exception of countries buying cheap from Russia)

No easy answer so it will be interesting if Auxillion are correct in their predictions and what happens come April next year.

facade

Mstty said:

People can generally bear a bit of inflation even 10%, it's not nice but most can work around it and shave savings. 

But these sort of energy price rises and completely out of control and affecting the whole world (as is inflation for most countries with maybe the exception of countries buying cheap from Russia)

No easy answer so it will be interesting if Auxillion are correct in their predictions and what happens come April next year.

But my inflation is nowhere near 10%!  That is just the fudged figure that the Government grudgingly released.  I'd say I am looking at more like 25% higher expenditure than this time last year, just look at a supermarket till receipt from last year.

I'm lucky compared to some in that I have an inflation linked pension, but a 10% rise in April won't even cover the increase in my energy bills up to now, never mind after the next cap and how much food has gone up. I've gone from being able to save to pretty much making ends meet already.

SJMALBA

Ofgem director Christine Farnish quits over energy price cap

https://www.theguardian.com/business/2022/aug/17/ofgem-director-christine-farnish-quits-over-energy-price-cap

pochase

Here is the latest Auxilione forecast. Electricity rates for April are now over 90p.

No change for the October cap here, and they are more or less in line with CI, £57 more with the CI forecast now being 9 days old.

I believe today is the last day with data been used for the October cap, so tomorrow should be their final estimate for October and I expect a final prediction from CI in the next days also.

pochase

Latest Auxilione update. This is at the same time their final prediction for October cap,  yesterday was the final day that is used for October cap calculations.

They are now almost in line with CI for October. £3576 vs the £3582 CI from last Monday. Will be interesting to see if we also get a final prediction from CI.

Mstty

All eyes on next Friday now

michaels

Mstty said:

All eyes on next Friday now

I would have thought that realistically we need a covid style impending disaster press conference with announcements on rationing and measures to keep the population safe. 

Shame we have no functioning government.

QrizB

pochase said:

Latest Auxilione update. This is at the same time their final prediction for October cap,  yesterday was the final day that is used for October cap calculations.

The observation period for the October cap was supposed to run until the end of July? Did they extend it?

SJMALBA

I worked for BP for 30 years – the energy sector has become incompetent and greedy

https://www.theguardian.com/commentisfree/2022/aug/19/bp-energy-sector-incompetent-ofgem-freeze-price-cap-tax-profits

'...A regulator that licenses undercapitalised suppliers in order to promote “competition”, then watches them fail as soon as prices begin to rise is incompetent. Fatalism in the face of the inevitable volatility of a global market in which supplies are concentrated and vulnerable to being weaponised is pathetic.'