New fixed energy rate from SO Energy

AlwynP

I have today been offered and signed up to a 12 month fixed rate below their standard variable rate for electricity supply only.  The rate including VAT is 29.37p kWh and the standing charge is 43.63p per day including VAT.

Given that UK is way off target for providing enough electricity to supply them, the lack of a sufficient supply of electric charging points for EVs means that, without a change in government policy, the only way to regulate usage is by charging more.

Dolor

AlwynP said:

I have today been offered and signed up to a 12 month fixed rate below their standard variable rate for electricity supply only.  The rate including VAT is 29.37p kWh and the standing charge is 43.63p per day including VAT.

Given that UK is way off target for providing enough electricity to supply them, the lack of a sufficient supply of electric charging points for EVs means that, without a change in government policy, the only way to regulate usage is by charging more.

You have misunderstood the problem. The challenge relates to the infrastructure needed to get electricity to high-powered EV charging facilities. It is not an energy generation/supply issue. A shortage of public EV chargers may be frustrating but it will not lead to an increase in prices.

If domestic energy prices are going to increase then it will be down to the price of the gas needed to generate electricity. Wholesale markets respond to global demand; supply and external factors such as ongoing Wars. 

AlwynP

This didn’t come out of thin air.  These 2 links suggest lack of generating capacity is a potential problem.

https://committees.parliament.uk/committee/127/public-accounts-committee/news/195898/green-power-goals-jeopardised-by-lack-of-overarching-government-plan/

https://fuergy.com/blog/7-problems-and-challenges-of-a-power-grid

Dolor

AlwynP said:

This didn’t come out of thin air.  These 2 links suggest lack of generating capacity is a potential problem.

https://committees.parliament.uk/committee/127/public-accounts-committee/news/195898/green-power-goals-jeopardised-by-lack-of-overarching-government-plan/

https://fuergy.com/blog/7-problems-and-challenges-of-a-power-grid

These reports are talking longer term. Unless you have signed up to a 10 year fix then, assuming that there are no global surprises over the coming Winter, Cornwall Insights is suggesting that fixes offer no better value than staying on the Ofgem cap in terms of predicted prices. If we have a very cold spell in Winter and it is associated with no wind and thick fog across the country and supply becomes an issue, then everyone will be affected.

Longer term, yes there are going to be challenges generating enough electricity AND getting it to all homes as the demand increases due to EV and heat pump take up; however, the immediate challenge for EV public charging is the need for more Grid infrastructure to get power to the chosen site. Any restriction on public EV charging (as owners find out on a public holiday) is down to a lack of public chargepoints not a lack of electricity.