Energy news in general

MWT

wild666 said:

Even if prices drop substantially the utility companies will not reduce their prices they will keep the high prices as it's more profit for them. 
One thing is for sure and that is if there is another large increase the utility companies will increase their prices again on top of charging people extortionate amounts for the electric and gas when prices are low. 

As has been commented before, some suppliers have tracker tariffs and if there are price falls those tariffs will signal the reductions and competition will inevitable lead to price reductions if the wholesale rates do fall.

Hopefully though there will be less of an uncontrolled race to the bottom with loss-making tariffs this time...

The trick though is to avoid any fixes with very large penalties attached, like the £75 rate on some of the BG tariffs for example.

Sea_Shell

Effician said:

400p/therm at 9:20 this morning.

Now at 430p.

(BBC)

Leon_W

So, if i've got this right.

1 Therm = approx 30KWH.

I'm paying 3p per KWH retail presently to Scottish Power. Gas suppliers though could be paying 14p per KWH wholesale.

Yikes !

Sea_Shell

When did those SoLR claims for "reasonable costs" have to be submitted to OFGEM by???

They may be frantically reviewing their figures!!

gt94sss2

N6P6 said:

Does the fact that I have not had a final bill from my previous supplier [People's Energy] taken over by British Gas and not had any credit refunded yet at going on for 8 weeks entitle me to a £30 refund?

No, the rules don't apply if a supplier fails

[Deleted User]

Is it ‘divide therm price by 29.31 to get KWh price’? 

So 438p per therm is 15p per KWh? 

meinnit

More cap estimates from Cornwall Insights

https://www.standard.co.uk/business/energy-price-cap-2000-pounds-2022-investec-martin-young-cornwall-insights-bulb-b973096.html

Cornwall Insights said they expected a slightly lower price cap of £1,865 next Summer but said Winter 2022 price cap could surge past £2,000 to reach £2,240.

QrizB

Deleted_User said:

Is it ‘divide therm price by 29.31 to get KWh price’? 

So 438p per therm is 15p per KWh? 

Yes, that's how it works.

12.8p/kWh wholesale today at Guy Lipman's site, and 15.5p/kWh the indicative retail price.

You don't want to look at his electricity prices either!

[Deleted User]

Gazprom manipulating the market..?

https://www.cityam.com/european-gas-prices-reach-record-highs-as-flows-on-key-pipeline-flow-towards-russia/?utm_source=dlvr.it&utm_medium=twitter

Flight3287462

Deleted_User said:

Gazprom manipulating the market..?

https://www.cityam.com/european-gas-prices-reach-record-highs-as-flows-on-key-pipeline-flow-towards-russia/?utm_source=dlvr.it&utm_medium=twitter

This is what happens when the US continually pokes the bear and encourages Europe to do the same.  They get a little pithed off and decide to take "their" ball home.