Price increase forecast for October 2022

Mstty

pochase said:

If you deduct the £99.35 standing charge from the £1517.79 new gas cap the Cornwall-Insights predicts you get 1418.44 as the cost for 12000KWh gas (assuming there is no change in the gas standing charge).

So the new capped gas price per KWh would be 11.82p. I am using a current cap price of 7.4p for gas (EDF 7.282p to 7.480p) that is an increase of 4.42p or 59.73%.

Gotcha yes I made in 61% for gas in my mind. When replying I just had combined in my mind👍

shedboy52

Thanks for your replies, I'll stick with variable and buy some blankets

Ectophile

mark_cycling00 said:

You can't ship gas around the world in the same way as you can with oil. 

Yes, you can https://marine-offshore.bureauveritas.com/ship-classification/lng-carriers

The USA has more natural gas than it knows what to do with at the moment, as a byproduct of fracking for oil.  So they stick it on boats and send it to us.

chris1973

mark_cycling00 said:

 You can't ship gas around the world in the same way as you can with oil. 

Yes, you can and we are doing it in LNG format, by the tanker load from the U.S and Qatar 

For some reason the Green Taliban, seem to believe that forcing us to import LNG using massive amounts of energy to first convert Gas to LNG, then transport it thousands of miles across Ocean in ancient tankers, powered by engines in rows the size of football fields burning a raw unrefined diesel oil and then using massive amounts of energy to convert it back from LNG to Gas when it reaches the UK is all somehow, much Greener and Environmentally Friendly, than just fracking it 'up the road'. But we seem to all be playing along to their superior knowledge.....

pochase said:

So the new capped gas price per KWh would be 11.82p. 

That is a sobering thought. Personally its time to live like a hermit, going nowhere and spending nothing - putting every spare penny away for this Winters' bills. I'm not trading 4 - 5 months of Winter comfort for a week in the Sun, so guess which isn't going to happen this year!. I get the feeling that more than half of society are either in denial, or just haven't got a clue about what is approaching.

Sea_Shell

chris1973 said:

mark_cycling00 said:

 You can't ship gas around the world in the same way as you can with oil. 

Yes, you can and we are doing it in LNG format, by the tanker load from the U.S and Qatar 

For some reason the Green Taliban, seem to believe that forcing us to import LNG using massive amounts of energy to first convert Gas to LNG, then transport it thousands of miles across Ocean in ancient tankers, powered by engines in rows the size of football fields burning a raw unrefined diesel oil and then using massive amounts of energy to convert it back from LNG to Gas when it reaches the UK is all somehow, much Greener and Environmentally Friendly, than just fracking it 'up the road'. But we seem to all be playing along to their superior knowledge.....

pochase said:

So the new capped gas price per KWh would be 11.82p. 

That is a sobering thought. Personally its time to live like a hermit, going nowhere and spending nothing - putting every spare penny away for this Winters' bills. I'm not trading 4 - 5 months of Winter comfort for a week in the Sun, so guess which isn't going to happen this year!. I get the feeling that more than half of society are either in denial, or just haven't got a clue about what is approaching.

I think you're right there, sadly ☹️

Mstty

Interesting read but can't corroborate the £2612 October price cap it says Cornwall Insights predict if we move to quartely price cap reviews starting October. So could be codswallop

https://www.themoneyedit.com/household-bills/will-energy-prices-fall-2023

However, if true could mean some of the close fix deals people have been taking are bad deals.