Energy news in general

wild666

With all this discussion on energy I think children should be taught from a very early age to turn stuff off if it's not in use. So many children today leave stuff in standby mode or chargers plugged in with the socket switch in the on position if they were to turn the things off that were not in use at the wall socket then families would save hundreds of pounds per year. 
My usage dropped by over 800 kWh per years on the electric when I started turning everything off at the wall socket, my monthly usage was between 176 kWh and 198 kWh but by turning everything not in use off at the wall socket I dropped the usage by up to 72 kWh per month with a weekly usage of between 25 and 30 kWh.

I also turned down the temperatures on the boiler to 48 degrees for water and 54 degrees for heating and turned the thermostat down to 17 degrees although I had to do this over about 5 weeks from the 22 degrees my daughter set the temperature at for the heating. 

michaels

Based on the futures prices, how much could you offer a 12m fix for right now?  I suspect for a lot less than the very few products on the market that are priced way over the current cap.  At what point will suppliers 'break ranks' and start offering fixes at or below the current cap.  Of course the danger for them is that if they have already hedged cap rate customers at a higher price then they end up locked in to buying a lot of gas they won't be able to sell at that price.

The whole cap mechanism seems to leave the door open to new entrants who can buy forward to underwrite cheap (er than the cap) fixes without having to worry about a legacy of cap customers.  As a customer I can't wait for this to happen, as a supplier, trying to hedge the cap must be a nightmare.

Edit: The link to wholesale prices from QrizB suggests that there is no scope currently to supply a new fix cheaper than the current cap so not an issue currently but should the market change (peace deal in Ukraine, Russia looking to make money for recovery) it is not impossible to envisage a situation where new fixes cheaper than the cap could be offered and companies who have hedged the cap could be left very exposed (the reverse of what happened last year when not having hedged the cap turned out to be ruinous)

wild666

pochase said:

Zandoni said:

Think of all those greedy landlords pocketing lots of £150s

See my last post

Households are eligible where, on 1 April 2022, they are liable for council tax on a property which is in council tax bands A-D and which they live in as their main home.

You can get the £150 only once.

It won't be the Landlord who gets the discount it will be the person living in the property who gets the discount because they will be the one's paying the council tax 

michaels

QrizB said:

The end of the week.

Gas has had a few ups and downs this week but futures for June have closed at 131p a therm. That's roughly 0.5p/kWh lower than the price used when setting the April cap.

The next 12 months aren't looking quite so good - max of 254p for Feb 23 - but there's plenaty of time for them to change yet, up or down.

From that link, sounds like if you had somewhere to store gas between the summer and winter you could make a lot of money...remind me what happened to the big UK storage facility?!

pochase

wild666 said:

pochase said:

Zandoni said:

Think of all those greedy landlords pocketing lots of £150s

See my last post

Households are eligible where, on 1 April 2022, they are liable for council tax on a property which is in council tax bands A-D and which they live in as their main home.

You can get the £150 only once.

It won't be the Landlord who gets the discount it will be the person living in the property who gets the discount because they will be the one's paying the council tax 

Not only that, the way I read it if you have two properties you live in you will only get the rebate once, even you pay yourself twice council tax.

Mstty

@pochase I could just about imagine that if both houses were with the same council parish/borough but if they are not, no way are councils talking to each other about this.

pochase

Mstty said:

@pochase I could just about imagine that if both houses were with the same council parish/borough but if they are not, no way are councils talking to each other about this.

I am not saying that this will be/can be handled this way, I am just quoting the government guidelines.

facade

michaels said:

QrizB said:

The end of the week.

Gas has had a few ups and downs this week but futures for June have closed at 131p a therm. That's roughly 0.5p/kWh lower than the price used when setting the April cap.

The next 12 months aren't looking quite so good - max of 254p for Feb 23 - but there's plenaty of time for them to change yet, up or down.

From that link, sounds like if you had somewhere to store gas between the summer and winter you could make a lot of money...remind me what happened to the big UK storage facility?!

Rough sprung a leak in 2017, and no-one would pay to fix it, as gas was so cheap and in such plentiful supply.

The good news is that Stublach can store almost 1.3% of our annual domestic requirements! (And it only cost £500 million)

So if Norway cut us off we have enough storage for around 4 days if we cut off industry.

Rough stored 3.31 billion cubic metres, which was supposed to last 9 days, Stublach stores 450 million, so based on that, about 30 hours worth.

StartledJesus

Ofgem criticised again. Also, some forecasts from Cornwall Insights.

https://www.cityam.com/ofgem-failed-to-understand-and-tackle-risks-in-the-market-argues-citizens-advice/

With regard to the suggestion by Scottish Power (but Spanish owned), those folk who objected to a £200 loan over four periods will certainly not be happy with a £1000 loan over 10 years! How many of us will still be alive in 10 years? 

Flight3287462

Gas price up 40% today (eased back a touch)