Energy news in general

Mstty

GingerTim said:

 

 

https://twitter.com/MartinSLewis/status/1545461672692928512?t=wfR7-DLb-GfwZJa-U3zVdA&s=19

As usual very misleading with not enough details that will confuse many on current fixes thinking when they come to an end that is the rise (nope)

Just headline twittering.

tghe-retford

The prospect of a £4,000 cap being dismissed as an unrealistic outlier is no longer the case now. And looking at the trend, they're probably being conservative in their predictions. 50% of electric production is gas in the height of summer even with the wind blowing while natural gas prices are at or above winter 2021 levels now. I just fear the consequences for society of what is coming down the road. There is no way I can sugar coat this without actively lying.

Mstty

tghe-retford said:

The prospect of a £4,000 cap being dismissed as an unrealistic outlier is no longer the case now. And looking at the trend, they're probably being conservative in their predictions. 50% of electric production is gas in the height of summer even with the wind blowing while natural gas prices are at or above winter 2021 levels now. I just fear the consequences for society of what is coming down the road. There is no way I can sugar coat this without actively lying.

It doesn't help that I also just spent £100 on diesel and didn't manage to fill the tank😳 I don't know about hyper mailing I need to the ultra-hyper miling 

njm123

tghe-retford said:

The prospect of a £4,000 cap being dismissed as an unrealistic outlier is no longer the case now. And looking at the trend, they're probably being conservative in their predictions. 50% of electric production is gas in the height of summer even with the wind blowing while natural gas prices are at or above winter 2021 levels now. I just fear the consequences for society of what is coming down the road. There is no way I can sugar coat this without actively lying.

It's going to get to the point where the choices for a lot of people will be heat or eat, and even for those slightly better off any discretionary spend will be cut with dire consequences for a lot of small businesses.

[Deleted User]

QrizB said:

DerwentMailman said:

Can I assume that the figures for standing charge are for each quarter?  If so it will cost folk an eye-watering £90 pcm before any energy is used
Can I also assume that the figures (both SC and rate) do not include VAT?

My assumed SC numbers are annual (close to the current 27p/day for gas and 45p/day for electricity, but rounded for my convenience).

And I'm working on the same VAT basis as Cornwall Insight are

Thanks for that clarification

tghe-retford

njm123 said:

tghe-retford said:

The prospect of a £4,000 cap being dismissed as an unrealistic outlier is no longer the case now. And looking at the trend, they're probably being conservative in their predictions. 50% of electric production is gas in the height of summer even with the wind blowing while natural gas prices are at or above winter 2021 levels now. I just fear the consequences for society of what is coming down the road. There is no way I can sugar coat this without actively lying.

It's going to get to the point where the choices for a lot of people will be heat or eat, and even for those slightly better off any discretionary spend will be cut with dire consequences for a lot of small businesses.

Worse still for those slightly better off, companies will increase prices further for them to make up the shortfall from people who can no longer afford their products and services. I remember the mobile phone companies doing this successfully after the financial crisis a decade ago. A strategy that has only recently ended and competition has returned to pre-2008 levels, particularly with affordable unlimited data.

We risk a vicious circle in the opposite way to high wage increases - prices go up which means less spending leading to higher prices to remain viable which further decreases spending and so on. Unlike wages, there is no appetite from Government beyond what we have seen with energy bill rebates to control and limit price increases.

Sea_Shell

The "Big Squeeze" is coming. ☹️

Uxb1

Well unless you are seriously thinking of HMG subsidizing fuel prices and recovering that subsidy either through money printing or though taxation there is not much they can do
(Well apart from not starting a war with the major supplier of your essential goods in the first place)
If you recover it via money printing the £ goes down and everything imported gets a lot more expensive - and that of course includes energy in the first place.
If you do it via taxation then there is less money to go round for everyone until you run out of other people's money to tax to pay for the subsidy - though of course some sectors of the population win out.

Historically in the world, Gov's subsiding the price of anything has not ended well with rocking inflation, (because the gov will pay) and general rapid economic decline.

bristolleedsfan

UKEIH operates under the under the 2 brands of Neo Energy and Northumbria Energy

https://twitter.com/_energyscanner/status/1546551962568724481?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1546551962568724481%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fforums.moneysavingexpert.com%2Fdiscussion%2F6307202%2Fenergy-news-in-general%2Fp85

superkoopauk

Tell us something we don't already know  

https://www.bbc.co.uk/news/business-62123691

This bit is interesting though - sounds like some suppliers could be in trouble

Ofgem also told MPs that it had found issues with direct debit demands from suppliers, during a review following accusations that companies increased customers' direct debit payments by "more than is necessary".

More details will be announced in the coming days.