Energy news in general

spot1034

Can't see that anyone else has linked to this yet - Cornwall Insight's latest and presumably final prediction for Q2 price cap based on today's closing prices. https://www.cornwall-insight.com/predictions-and-insights-into-the-default-tariff-cap/

Sea_Shell

Thanks for that.

New standing charges of 88p p/d for duel fuel is going to hit very light users hard, again.   Up another ~£28 on the year.

But good to see the overall cost reducing, even as a 'fairly' light user, (1400/8500), it works out at an overall saving of about 13%*, based on my back of an envelope figures, based on Q2 prices.

"Average" users will save just over 15%, on paper, but that's based on being on those prices for a whole year. 



*Being on Eon Next Pledge, we'll get a further discount off that too.  

the_lunatic_is_in_my_head

With some highlights:

https://www.bbc.co.uk/news/science-environment-68381160

A power company that has received £6bn in UK green subsidies has kept burning wood from some of the world's most precious forests, the BBC has found.

Papers obtained by Panorama show Drax took timber from rare forests in Canada it had claimed were "no go areas".

It comes as the government decides whether to give the firm's Yorkshire site billions more in environmental subsidies funded by energy bill payers.

In fact, the power station emits about 12 million tonnes of carbon a year, but under international rules the UK doesn't have to count these emissions.

Drax helps the UK government meet its climate targets because, on paper at least, the power station is treated as emission-free. This is because international carbon accounting rules state that greenhouse gas emissions from burning wood are counted in the country where the trees are felled as opposed to where they are burned.

GingerTim

More CCJs issued for energy debts. The law of unintended consequences...

https://www.theguardian.com/money/2024/apr/05/number-of-households-seeking-help-over-energy-debt-legal-action-doubles

Number of households seeking help over energy debt legal action doubles

"The number of households seeking help to deal with court action over their unpaid energy bills has doubled in the last year, according to Citizens Advice.

The charity said suppliers were increasingly opting to take their customers to court to recover their energy debts, which could ruin household finances for years.

It said the use of legal action to pursue unpaid bills appeared to have increased since the industry regulator, Ofgem, introduced strict restrictions on the forced installation of prepayment meters."

markin

Was the no thread about the huge profits from the Energy co's the other day?
https://www.dailymail.co.uk/news/article-13259003/energy-giants-profit-millions-struggle-cost-living-crisis.html

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The Anti smart meter groups tried to warn us!

Energy price cap: Ofgem considers varying cost based on time of day

https://www.theguardian.com/money/2024/mar/25/energy-price-cap-ofgem-great-britain

"The energy regulator for Great Britain launched a consultation on Monday on a range of options for the future of the price cap, including a “more dynamic cap” with “time-of-use dependent unit rates to encourage consumer flexibility”.

Other options include a targeted cap which could be based on a variety of factors such as vulnerability, and more flexible, market-based price protections such as setting a limit between a supplier’s default tariff and tariffs available in the market, capping the margin suppliers are able to make, or replacing the cap with a ban on acquisition-only tariffs."

Chris_b2z

markin said:

Was the no thread about the huge profits from the Energy co's the other day?
https://www.dailymail.co.uk/news/article-13259003/energy-giants-profit-millions-struggle-cost-living-crisis.html

I assume that Daily Mail article must have been written last month. Chris O'Shea's salary at Centrica has almost doubled since then -

https://www.thecanary.co/trending/2024/03/27/british-gas-o-shea-payrise/

Scot_39

My E10 like the decades old EMEB regional  Heatwise RTS system it replaced does vary the cost of use during the day.

It charges off peak 1-4 pm,  and 8-10 pm GMT as well as 12 midnight to 5 am.  And peak rates the other 14 hrs.


Encouraging permanent avoidance by those who can of the  mini peaks at breakfast / morning shower time, and the major late afternoon / early evening peaks c6pm looking at agile rates over last year.

And because the hours are fixed - unlike agile to some extent - its a fixed pattern to adapt too.

It doesn't exist as a live tariff in part as Ofgem refuse to make suppliers support it as a live open to all tariff.

Many E7 deals run into that morning mini peak - which Ofgem does at least pay lip service too - but even then not insisting small start ups provide it.  Especially in summer months when some run to 830.

markin

Many posts have been cleared out, remember no 'discussions' are allowed here.

• Eastern Green Link 2, an over-500km subsea connection between Scotland and Yorkshire will be the longest ever built in Great Britain, bolstering energy security and contributing to net zero targets

"Ofgem has given provisional approval of the expenditure required for the High Voltage Direct Current (HVDC) subsea superhighway, Eastern Green Link 2 (EGL2), a joint venture between SSEN Transmission and National Grid Electricity Transmission.

The 525kV 2GW link is capable of carrying enough electricity to power nearly two million homes and will run from Peterhead in north east Scotland to Drax on the east coast of England.

At a total expected nominal investment of around £4.3bn, EGL2 is the single largest-ever investment in electricity transmission infrastructure in Great Britain. As such, it is one of the most significant, strategic investments in energy infrastructure the country has seen in recent years."

https://www.ssen-transmission.co.uk/news/news--views/2024/3/eastern-green-link-2-receives-provisional-regulatory-approval/

Ballymoney

Gas prices spiking pretty heavily these last few days, presumably as a result of the Iran/Israel conflict. 

Anyone tempted to take a fix now? Eon Next Fixed 12m v12 is very tempting, and lower than their Next Pledge tariff.

MP1995

Ballymoney said:

Gas prices spiking pretty heavily these last few days, presumably as a result of the Iran/Israel conflict. 

Anyone tempted to take a fix now? Eon Next Fixed 12m v12 is very tempting, and lower than their Next Pledge tariff.

Tracker showing 4.5p kwh so if that's a spike  most will not moan about that at all. Especially as the expensive heating season is coming to an end.

Risk averse versus risk able(able to afford to take a risk)