Energy news in general

[Deleted User]

All depends which wholesale price they’re looking at, and what base they measure against.

pochase

Explanation is in the comment to the Auxilione prediction

However on Friday evening, just after market close, Gazprom announced on their Telegram Messenger account that an oil leak has been found on the only operational turbine which was undergoing a three day maintenance. It further stated that this required a specialist repair by Siemens Energy and this meant it could no longer operate the turbine and as such Nord Stream 1 would no longer flow until this was fixed. No timeline has been given but the market will assume that this could be the end of the NS1 flows for an indefinite period.

It is highly likely this will inject a considerable amount of nervousness back into the market and erase all of last weeks discounts, just at a time when several EU countries start to announce their plans to help their economies through the winter such as Germany announcing a €65bn package. 

The announcement was outside the trading hours, so we can expect the market reactions today and see it in tomorrows new predictions.

tpeppers

I have been continually offered fixed tariffs from Scottish Power (albeit expensive) throughout this whole sorry saga, but this morning I log on and, for the first time that I've seen, they have removed all their fixed tariffs. Feels like something is afoot. 

sienew

Mstty said:

GingerTim said:

It's being heavily trailed that Truss will cap energy bills, with the government guaranteeing loans to the energy suppliers which we will then repay over the next decade. 

EDIT: Tory MPs on 'Today' not happy, want targeted help.

I suspect some of the energy supply companies will have strong armed the Government by suggesting it's not possible to stay in business without this.

This does seem like what's happening. Most of the articles in the last 24 hours suggest "energy company sources" suggest the govt will cap prices. It's almost like they are trying to bounce the government into doing this.

It is very much in the energy companies interests for the price to be capped as their income will be essentially guaranteed by government loans whereas without that it's reasonable to think a lot of people will rack up bad debts for their energy bills.

The_Green_Hornet

sienew said:

Mstty said:

GingerTim said:

It's being heavily trailed that Truss will cap energy bills, with the government guaranteeing loans to the energy suppliers which we will then repay over the next decade. 

EDIT: Tory MPs on 'Today' not happy, want targeted help.

I suspect some of the energy supply companies will have strong armed the Government by suggesting it's not possible to stay in business without this.

This does seem like what's happening. Most of the articles in the last 24 hours suggest "energy company sources" suggest the govt will cap prices. It's almost like they are trying to bounce the government into doing this.

It is very much in the energy companies interests for the price to be capped as their income will be essentially guaranteed by government loans whereas without that it's reasonable to think a lot of people will rack up bad debts for their energy bills.

I suppose "government implements a price freeze" sounds a lot better than "government bails out the energy companies".

spot1034

Sweden and Finland have offered liquidity guarantees to energy suppliers to avoid a 'Lehman like' crisis. https://www.euractiv.com/section/economy-jobs/news/sweden-finland-step-in-to-avert-lehman-like-situation-for-power-companies/

Northern_Wanderer

I think mostly everyone is going to be in default. People in general, businesses, local government, energy suppliers......it's hard to see how this won't affect large swathes of areas in life.

bristolleedsfan

As others have said the reason for energy suppliers getting together calling for energy freeze guaranteeing themselves energy cap rises without additional bad debts

https://www.ft.com/content/565fec23-5883-4b5c-b852-35dc4c3acaa0

Centrica seeks billions in additional financing as collateral demands soar

bristolleedsfan

if all households pay same levy, low users subsidising high users, consumers on other types of tariffs having to subsidise/pay for other consumers energy price freeze.

https://inews.co.uk/news/politics/liz-truss-plans-freeze-energy-bills-january-prime-minister-1834631

gt94sss2

If they do freeze tariffs, it will be recovered via keeping bills higher than they would be for longer.

Its just like the original £200 loan idea just on a much bigger scale