Energy news in general

StartledJesus

Thrugelmir said:. A little knowledge is a dangerous thing. 

Indeed. That doesn’t mean that you have to keep proving it. 😉 

StartledJesus

Verdigris said:

If an organisation is flawed, an outside view is more likely to find the causes, and remedies, than any internal process.

Yes, we can all spot a flawed organisation. Ofgem for instance. 

StartledJesus

QrizB said:

StartledJesus said:

Energy watchdog Ofgem handed a £420000 contract to a consultancy firm (Baringa Partners) to advise on a price cap hike - despite its work for the Big Six suppliers

This is a non-story.

I refer you to the Independent Newspaper Group. 

StartledJesus

Naively, I imagined that Ofgem, as the industry regulator, might be a specialist in the industry. Also how many personnel does it directly employ - it’s not like it’s a one man band. Also, it’s not really akin to me employing a carpenter because I’m not very good at woodwork, is it. More likely consultants are a useful, if very expensive, scapegoat if their advice proves to be ill founded. Ofgem never takes any responsibility for anything. 

Gerry1

StartledJesus said:

Verdigris said:

If an organisation is flawed, an outside view is more likely to find the causes, and remedies, than any internal process.

Yes, we can all spot a flawed organisation. Ofgem for instance. 

Citizens Advice certainly didn't pull their punches !

molerat

I see in Germany RWE are sticking 2 fingers up to the green lobby and polishing the knobs on their mothballed coal plants ready to bring them back on line.  Obviously their reliance on Russian gas is greater than ours so a greater need for an alternative.

tghe-retford

Putin has demanded that all exported gas to "unfriendly" countries to be paid in Rubles only with immediate effect.

Wholesale gas prices have risen 30% today on the news alone but it leaves Europe with a choice. Either fund Putin and his war with the deadly consequences that will bring as well as make the sanctions they have implemented fruitless or go cold turkey immediately and watch European wholesale gas prices skyrocket with the grave consequences of massive price hikes for business and consumers.

A grim dilemma.

https://www.reuters.com/business/energy/putin-says-russia-will-start-selling-gas-unfriendly-countries-roubles-2022-03-23/

pochase

This is not with immediate effect. At the moment it is not clear when this will start. From the article:

Putin said the government and central bank had one week to come up with a solution on how to move these operations into the Russian currency and that gas giant Gazprom (GAZP.MM) would be ordered to make the corresponding changes to gas contracts.

Ultrasonic

I wonder to what extent the EU could cope without Russian gas through spring and summer, with it only really becoming an issue by next winter?

facade

I'm obviously a simpleton, but I don't understand.

Putin doesn't actually want roubles does he? He can just print some for use in Russia, and we won't accept them.

What he wants is gold, platinum or solid currency like dollars or euro.

So do we have to buy the roubles down the Post Office with our money, then send him the roubles, or do we buy the roubles from the Bank of Moscow?

Either way, whether we buy the roubles off him, or just give him sackfuls of euros & dollars for the gas it is the same thing surely?