Energy news in general

wakeupalarm

More costs added to the price cap

UK households to pay administration costs of energy discount scheme

Sea_Shell

wakeupalarm said:

More costs added to the price cap

UK households to pay administration costs of energy discount scheme

Cosmic! ☹️


ETA - Who are JNews?  Never heard of them as an outlet before.

wakeupalarm

No idea, but I've changed the link to the Financial Times who I think are the original source of the article, unfortunately its currently behind a paywall.

The_Green_Hornet

wakeupalarm said:

No idea, but I've changed the link to the Financial Times who I think are the original source of the article, unfortunately its currently behind a paywall.

Here is another link. 

https://todayuknews.com/business/uk-households-to-pay-administration-costs-of-energy-discount-scheme/

QrizB

wakeupalarm said:

More costs added to the price cap

From the article:

Based on past energy rebate schemes, these costs could be as much as £28mn, according to the document from the Department for Business, Energy and Industrial Strategy.

That's £1 per household, which seems relativerly little. Roughly a quarter of a penny a day, if spread over a year.

QrizB

Here's an extract from Nordpool showing day-ahead prices for today (4th column, highlighted) and tomorrow (3rd column):

I'm stunned that electricity was down in the low single figures of £ per MWh (pence per kWh) today. The spot price at Drax is currently negative - and it's the middle of a Sunday afternoon, not the wee small hours!

It looks as though the wind has picked up, the sun is shining and (of course) it's a Bank Holiday Sunday so national demand is only 26GW, lower than usual.

gefnew

Yes a strange day.

28.97 GW Electricity demand

£-63.72/MWh Electricity price

50g/kWh  Carbon emissions

• 3.28 GW

  10.94%

  Solar
• 12.53 GW

  41.84%

  Wind
• 0.19 GW

  0.63%

  Hydro
• 3.03 GW

  10.10%

  Gas

• 0.00 GW

  0.00%

  Coal
• 2.05 GW

  6.85%

  Biomass
• 6.42 GW

  21.44%

  Nuclear
• 0.00 GW

  0.00%

  Pumped Storage
• 2.46 GW

  8.20%

  Imports & Exports

Data courtesy of Elexon, National Grid and Sheffield Solar

Explore the Data

spot1034

I think Easter Sunday, assuming it doesn't fall very early and in conjunction with freezing temperatures, normally sees just about the lowest daytime power consumption of the year with the usual retail activity largely suspended and many families gather in one home when they'd otherwise be in two or three.

Flight3287462

Energy chiefs warn of ‘truly horrific’ autumn for British households

https://t.co/yDB4HIG1qs

(If you hit the paywall just copy and paste the heading above into google and then click on the link via that option)

PS This article is in the FT today.

tghe-retford

Flight3287462 said:

Energy chiefs warn of ‘truly horrific’ autumn for British households

https://t.co/yDB4HIG1qs

(If you hit the paywall just copy and paste the heading above into google and then click on the link via that option)

PS This article is in the FT today.

If I recall seeing earlier, the energy companies want the cap to be abolished and replaced with loans to be paid off by those who receive them, no suggestion of what interest, if any, would be levied.

https://news.sky.com/story/cost-of-living-energy-bosses-call-for-overhaul-of-bills-and-aid-to-prevent-horrific-winter-ahead-12593612

If the cap does go, then all bets are off as to how high prices will go. And for loans, that will drop the people who can least afford to pay them back into crippling debt.

Another thing to note, 715,000 people owe money to British Gas. Owe as opposed to in debit to.

And the final kick in the ribs is to come from next week when potentially millions of people will see their April pay be lower than their March pay as an effective pay freeze kicks in while pay rise negotiations are delayed indefinitely to counter inflation at the same time that the 1.25% National Insurance rise takes effect. There will be a lot of people who will be bewildered come this months payday, wondering why their pay is lower than expected and certainly lower than last year's wage, even with the NI increase.