Energy news in general

Inigo_Montoya

Gerry1 said:

Deleted_User said:

Inflation up. Bank meeting tomorrow?

Without the threat posed by the omicron variant, the figures, as well as data pointing to a strengthening labor market, may have been enough for the BOE to raise interest rates on Thursday. But with new government restrictions adding to economic uncertainty, investors and economists expect the Monetary Policy Committee to delay the move until February.

RPI 7.1%

CPI 5.1%

Top standard easy-access savings rate 0.71%

Ouch.

looks like my national savings index linked bonds are going to be giving a very good return for a change

QrizB

Happy New Year to everyone participating in, or passively reading, this thread

Looking at Nordpool day-ahead data, we've had a short spell of almost normal electricity prices but as the UK goes back to work the numbers are beginning to rise again:

• 31/12 - 12.0p/kWh
• 01/01 - 6.9p/kWh
• 02/01 - 5.6p/kWh
• 03/01 - 6.8p/kWh
• 04/01 - 13.6p/kWh

Still well below the 40p/kWh we saw before Christmas.

Shedman

Yep indeed the holiday lull definitely seems to be over....UK Natural Gas Futures Feb22 up by over 30% this morning from 170p to  222p a therm

Effician

Shedman said:

Yep indeed the holiday lull definitely seems to be over....UK Natural Gas Futures Feb22 up by over 30% this morning from £170 to £222 a therm 

Maybe need a decimal point in them numbers @Shedman . Uk gas futures are priced in pence per therm.

Shedman

Now corrected thanks...I know prices are steep at the moment but should have spotted that £7.50 a kWh was perhaps a tad higher than we feared 😅

[Deleted User]

A picture saves a thousand words:

Sea_Shell

Sea_Shell said:

Query regarding Domestic v Commercial tariffs and the "rules".

How should a corner-shop with owner residence attached (behind and above) have their bills organised?   Think Arkwright's!! 😉

Should they (must they) have separate meters and separate tariffs, or if only one set of meters, do they have to be on a commercial tariff?

Can anyone answer this?

Thanks.

QrizB

Sea_Shell said:

Sea_Shell said:

Query regarding Domestic v Commercial tariffs and the "rules".

How should a corner-shop with owner residence attached (behind and above) have their bills organised?   Think Arkwright's!! 😉

Should they (must they) have separate meters and separate tariffs, or if only one set of meters, do they have to be on a commercial tariff?

Can anyone answer this?
Thanks.

I have no actual knowledge but until someone else comes along, here's the guide for VAT (whether you're liable for 5% or 20%):

https://www.businessjuice.co.uk/energy-guides/vat-declaration/

If you're a "de minimis" business user (like a corner shop) you might also qualify for a domestic tariff.

QrizB

The first day of proper trading and gas at the ICE closed at 218 / 215 / 212 / 197 p/therm for Feb to May respectively. Around 7p/kWh and 3x the "normal" price but still a lot lower than the prices the same gas was trading for in December.

And tomorrow's electricity at Nordpool is 16.7p/kWh. Again, not great but better than most of December.

[Deleted User]

It appears that Boris has pooh-poohed both the VAT and green levy reduction options, for any abatement of the imminent cost of energy crisis. 

LONDON (Reuters) - Britain’s government will listen to businesses and consumers on measures to abate rising energy bills, but a cut in sales tax on gas and electricity was a “blunt instrument”, Prime Minister Boris Johnson said on Tuesday.

“We will continue to listen to businesses and consumers about how to abate the costs of energy,” he told a news conference. “I’m not ruling out further measures.”

“The argument is ... that (value added tax) is a bit of a blunt instrument, and the difficulty is that you end up also cutting fuel bills for a lot of people who perhaps don’t need the support in quite the direct way that we need to give it.”