Post April 3000 average price cap

daz378

What will this mean for electric kwh, mines 29p at the moment, what will it rise to, 40p ?

QrizB

daz378 said:

What will this mean for electric kwh, mines 29p at the moment, what will it rise to, 40p ?

The forum's best guess is 45p/kWh for electricity and 12.5p/kWh for gas, but until the official figures are published we don't really know.

If it wasn't capped, Cornwall Insight are forecasting it would be £3900/yr, 62p/kWh for electricity and 15.8p/kWh for gas.

RobM99

It just gets worse, doesn't it? I can't see an end to it. 
Things like turning off a light will save pence at best.

MattMattMattUK

RobM99 said:

It just gets worse, doesn't it? I can't see an end to it. 

Likely when we as an electorate are collectively willing to pay more tax to invest in generation capacity, which I suspect is still years away if it ever happens. Prices will probably fall in a few years time, though long term forecasts are always unreliable at best.

RobM99 said:

Things like turning off a light will save pence at best.

With LED lights turning them off a few extra minutes a day makes no realistic difference, they cost fractions of pence an hour to run. There is going to be a period of falling living standards for many and for cutbacks for almost everyone else. Every generations has had to deal with recessions and temporary drops in living standards, the major difference with this one is that it seems everyone expects handouts to mitigate the impact. 

daz378

Had the government not removed our gas storage  facilities, we might have been better prepared,  Britain's energy costs are among the highest in the world

MattMattMattUK

daz378 said:

Had the government not removed our gas storage  facilities, we might have been better prepared,  

If you mean Rough it is too small to make any difference to pricing, if you mean gasometers then they would be so far past their service lives now as to be unusable and would only have been suitable for balancing pressure not strategic storage.

daz378 said:

Britain's energy costs are among the highest in the world

It is near the top yes, as are most other European nations, as is to be expected for a country which is a net importer of energy with most of our generation reliant in imports bought on the global markets. 

diystarter7

RobM99 said:

It just gets worse, doesn't it? I can't see an end to it. 
Things like turning off a light will save pence at best.

Hello

I can, I think. They are blaming President Putin but a lot of it is profiteering IMO
Putin may be selling gas at higher prices but it is a lot lower I think that the highs.
Then we have alternative energy, why has that not reduced prices and as far as I know, the price of wind and sun is the same price as it was last year, the year before and a billion years before that.

The politicians said "price cap until April 2024 (if you can trust them) and in the meantime people will need to adjust for higher bills..

Thanks

Krakkkers

"Likely when we as an electorate are collectively willing to pay more tax to invest in generation capacity, which I suspect is still years away if it ever happens. Prices will probably fall in a few years time, though long term forecasts are always unreliable at best."

Solar panels are available today. If electricity does go to 65p kwh then what are people waiting for.

ariarnia

Krakkkers said:

"Likely when we as an electorate are collectively willing to pay more tax to invest in generation capacity, which I suspect is still years away if it ever happens. Prices will probably fall in a few years time, though long term forecasts are always unreliable at best."

Solar panels are available today. If electricity does go to 65p kwh then what are people waiting for.

speaking for us for someone to be available to install it. price has doubled around here since last time and no one available until at least spring (and the people we've had good recommendations for from people we know until late summer). everything recently seems to have been about limited supply and availability. 

[Deleted User]

but a lot of it is profiteering IMO

The price of energy is determined by the amount of energy available and which country is prepared to pay the most to get what they need. In the past, there was sufficient LNG to buy top ups as required but this dynamic has changed over the past 12 months. We are now seeing the result of Government ‘short term’ thinking on energy: no party wants to invest in something that might benefit the political fortunes of another party 15 years into the future. 

BUFF

Krakkkers said:

"Likely when we as an electorate are collectively willing to pay more tax to invest in generation capacity, which I suspect is still years away if it ever happens. Prices will probably fall in a few years time, though long term forecasts are always unreliable at best."

Solar panels are available today. If electricity does go to 65p kwh then what are people waiting for.

The economics to make sense?
As a low electricity user in Scotland whenever I have run the nos. they have always taken ~20 years to break even.
& of course they don't output much in the winter which is when my highest demand is ...