Energy news in general

MWT

facade said:

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.

He wants to prop up the value of the Rouble, so forcing large purchases of Roubles will help achieve that.

It also forces re-engagement with the Russian economy and banking system in an attempt to blur the lines on the sanctions that are currently in place.

It will be resisted as it is a unilateral change in the contract terms...

QrizB

Cornwall Insight are continuing their Nostrodamus-like forecasting of the October cap:

https://www.current-news.co.uk/news/winter-price-cap-to-increase-by-500-as-volatility-remains-predicts-cornwall-insight

The latest predictions by Cornwall Insight detail how the energy price cap for winter 2022-23 is expected to be set at £2,512. This is a fall of £400 since the consultancy’s last prediction of £2,962.

FWIW a £500 increase doesn't seem unreasonable, although there's still plenty of time for prices to rise or fall before we get to the end of August (and the end of the current pricing period).

tghe-retford

A cold snap is expected to hit the UK from Tuesday with the coldest conditions expected to peak on... April 1st with snow expected as far as the South of England for the weekend with significant snowfall amounts in the hills and even laying at lower levels according to current models. And looking at the Netweather forum with people far more experienced that I am in weather forecasting (and not a Tabloid wanting to get people riled up for clicks or sales), they think its nailed in that a cold snap is inevitable and not just something that will radically change in a few days with the usual uncertainty that forecasting has.

https://www.dailymail.co.uk/news/article-10651089/UK-weather-Britains-early-summer-week-highs-18C.html

The day the higher price cap will kick in. Cruel.

Flight3287462

Ultrasonic said:

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?

Well not really they will also have to rebuild their reserves, if they don't/can't do that they will in deep kak.

QrizB

tghe-retford said:

A cold snap is expected to hit the UK from Tuesday with the coldest conditions expected to peak on... April 1st with snow expected as far as the South of England for the weekend ...

The Met Office forecast currently goes out as far as Friday. Overnight temperatures are hardly changing (lows 4C > 2C) but daytime is taking a hit (highs 16C > 7C). I might have to turn the heating back on!

molerat

Flight3287462 said:

Ultrasonic said:

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?

Well not really they will also have to rebuild their reserves, if they don't/can't do that they will in deep kak.

Germany has just passed a law that compels the private gas storage companies to be 65% full by Aug, 85% full by Oct and 90% by Nov.

StartledJesus

UK selling off the family jewels again. Will we never learn?

https://www.nationalgrid.com/gt-announcement

Sell off of 60% of its transmission and metering business by The National Grid to a foreign, primarily Australian, consortium.

StartledJesus

Do we have any algorithm experts on the forum? Just wondering if the various ‘estimated reading’ and direct debit ‘suggested’ amount algorithms used by suppliers will take account of the inordinately warm weather this last week, which I suspect will have prompted many customers to turn their heating off, and venture outside more.

I am aware that the suggested plan of action is to submit actual meter readings on 31/3, so that bills can be based on actual readings before the price increases, and then after. However, as we all know, suppliers don’t necessarily use actual readings even when provided. Furthermore, I half suspect everyone submitting readings on the same day will crash their systems. Also, in my experience, DD updates tend to be, strangely, always on the high side…

markin

Yes i would submit readings for the 2 days before just in case the websites start queuing/crashing.

QrizB

StartledJesus said:

UK selling off the family jewels again. Will we never learn?

"The UK" doesn't own the National Grid and hasn't done since the 1980s.

National Grid PLC is a FTSE-listed company and is owned by its shareholders.