Energy news in general

bristolleedsfan

https://twitter.com/MartinSLewis/status/1552333029951131648

NEWS: It gets worse! I've just got uodated price cap predictions from

@CornwallInsight

. The latest spike in year-ahead wholesale price means the OCT cap prediction is now UP 78% (so £3,500/yr on typical bills) & likely up again in Jan. Its will be desperate. Intervention needed

jimexbox

Unless the government steps up, it could well fall when there is a huge spike in deaths over winter. 

The government's primary aim is to protect its citizens in times of crisis. We need a bailout like the banks received in 2008!

What_time_is_it

jimexbox said:

Unless the government steps up, it could well fall when there is a huge spike in deaths over winter. 

The government's primary aim is to protect its citizens in times of crisis. We need a bailout like the banks received in 2008!

Agreed. I'd view along the same lines as defence spending - a necessary protection that is best funded through the nation state.

GingerTim

Adopt the brace position.

webjaved

https://twitter.com/MartinSLewis/status/1552333029951131648?t=ZVsuXdzFBXNmSFVsI1i-mw&s=19

https://twitter.com/MartinSLewis/status/1552348952225275904?t=StIw8SmmBIwaHzNPhbI8yg&s=19

Oh dear! 😡😩

What_time_is_it

So... is fixing for 2 years now a better option than fixing for 1 year? 

e.g. Gas fix at 11.75p for 1 year vs 13p for 2 years?

michaels

jimexbox said:

Unless the government steps up, it could well fall when there is a huge spike in deaths over winter. 

The government's primary aim is to protect its citizens in times of crisis. We need a bailout like the banks received in 2008!

Thing is though, there is only going to be so much gas in Europe this winter and somehow that needs to be shared out amongst all those who normally buy it.

The govt (ie taxpayers) can subsidise UK consumers but other countries will be doing the same for their consumers so prices will just get pushed up higher and higher until someone has to blink and actually use less.  Can the UK afford to outbid Germany, France, Holland etc?

And of course it will also kill industry - how can our producers compete with those in the US and china who pay half or less for their energy?  And that is before we get the secondary effects that paying so much for energy means little money to spend in the shops and no entertainment.

Seems to be the ultimate sh*tstorm, Europe has put itself in a position where Russia have them by the b*lls and just need to decide how hard to squeeze.  And the funny bit is the less gas the Russians pump, the more money they bring in because the price rises even higher.

US fraking showed what control of the energy markets could do to economies when it almost broke Russia - the Russians learned from this, the Europeans clearly did not.  Probably the ultimate losers will be the Ukrainians, I wonder how long they will last when their supply of weapons and ammunition drys up once Europe decides its citizens heating comes before our solidarity with Ukraine?

Evan3020

Russia will lose now or later, that is the only choice.

jimexbox

michaels said:

jimexbox said:

Unless the government steps up, it could well fall when there is a huge spike in deaths over winter. 

The government's primary aim is to protect its citizens in times of crisis. We need a bailout like the banks received in 2008!

Thing is though, there is only going to be so much gas in Europe this winter and somehow that needs to be shared out amongst all those who normally buy it.

The govt (ie taxpayers) can subsidise UK consumers but other countries will be doing the same for their consumers so prices will just get pushed up higher and higher until someone has to blink and actually use less.  Can the UK afford to outbid Germany, France, Holland etc?

And of course it will also kill industry - how can our producers compete with those in the US and china who pay half or less for their energy?  And that is before we get the secondary effects that paying so much for energy means little money to spend in the shops and no entertainment.

Seems to be the ultimate sh*tstorm, Europe has put itself in a position where Russia have them by the b*lls and just need to decide how hard to squeeze.  And the funny bit is the less gas the Russians pump, the more money they bring in because the price rises even higher.

US fraking showed what control of the energy markets could do to economies when it almost broke Russia - the Russians learned from this, the Europeans clearly did not.  Probably the ultimate losers will be the Ukrainians, I wonder how long they will last when their supply of weapons and ammunition drys up once Europe decides its citizens heating comes before our solidarity with Ukraine?

UK gas supply is not under threat, we are not bidding for gas, contracts are in place, with less than 5% being supplied from Russia. Obviously the price is affected by market rates. Which is largely affected by Germany dependence on Russian gas and the subsequent depletion of those supply's.

So our government is perfectly positioned to subsidise the gas we'll already receive. If they don't expect thousands if not 10's of thousands to die over winter as a direct consequence. 

tghe-retford

I would honestly not be surprised as prices continue to rocket as of late, probably not included in the analysis released, if we hit £4,000 a year in October with more to go in January. I don't think it is any longer hyperbolic or alarmist if I were to suggest that what is coming will be "life-changing" for a substantial proportion of the population.

I fear the consequences of what is coming down the line for the new Prime Minister. No wonder why they're doing brisk u-turns on VAT and fracking while selling the latter as a solution for the high prices to the voting members. I was listening to the radio this morning and people were actively advocating for action against the "fracking hesitant".