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Energy Prices


Captain Howdy
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The British Gas App isn't having it.

 

I don't see the point in putting the meter reading in anyway, my monthly payment has already doubled. What difference will it make now?

 

I was speaking to a mate today & the heating hasn't been on in their house all winter & their direct debit doubled as well. The whole thing is a fucking racket.

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2 hours ago, Bjornebye said:

 

Just done this and it worked 

 

 

5 minutes ago, Mook said:

The British Gas App isn't having it.

 

I don't see the point in putting the meter reading in anyway, my monthly payment has already doubled. What difference will it make now?

 

I was speaking to a mate today & the heating hasn't been on in their house all winter & their direct debit doubled as well. The whole thing is a fucking racket.

@Mook 

 

I'd do it mate. Took me two minutes. 

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Just now, Mook said:

Thanks Stig.

 

I called up and it said I don't have to submit because I have a smart meter then ended the call.

 

I do not have a smart meter.

You must have pressed the wrong button? Its option 2? Or did you put the wrong account number in? 

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52 minutes ago, Mook said:

The British Gas App isn't having it.

 

I don't see the point in putting the meter reading in anyway, my monthly payment has already doubled. What difference will it make now?

 

I was speaking to a mate today & the heating hasn't been on in their house all winter & their direct debit doubled as well. The whole thing is a fucking racket.

It goes up a further 50-odd% tomorrow too, so it's a good idea to get your readings locked in, make sure you don't get charged under the new tariff.

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17 minutes ago, Mudface said:

It goes up a further 50-odd% tomorrow too, so it's a good idea to get your readings locked in, make sure you don't get charged under the new tariff.

I can't put them in on the App, website or on this option 2 telephone thingy. I'm on the variable tariff.

 

Another 50% would mean it's gone from £100 to £300 a month in the space of a few weeks, surely that can't be right? They've not told me they're putting another £100 on.

 

Rico advised me to go on to the variable tariff towards the end of last year, if I'd followed my instinct it would be stuck at £170 for the next couple of years. Let joy be unconfined.

 

Edit - just looked at my letter from them & it's going to £200 a month from 1st April so that is the increase, thank fuck.

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11 minutes ago, Mudface said:

It goes up a further 50-odd% tomorrow too, so it's a good idea to get your readings locked in, make sure you don't get charged under the new tariff.

I fear for the 'less' well off, I really do. The Government are going to either have to nationalise gas and leccie come October or massively subsidise the consumer in case the suppliers dont pass any subsidy fully on.

 

Martin Lewis has already stated, 2 months into the October cap price increase determining period, October's increase will be even more eye watering.

 

Unless they have some other trick up their sleeve, people are not going to be able to pay utility bills beyond October.

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9 minutes ago, Mook said:

I can't put them in on the App, website or on this option 2 telephone thingy. I'm on the variable tariff.

 

Another 50% would mean it's gone from £100 to £300 a month in the space of a few weeks, surely that can't be right? They've not told me they're putting another £100 on.

 

Rico advised me to go on to the variable tariff towards the end of last year, if I'd followed my instinct it would be stuck at £170 for the next couple of years. Let joy be unconfined.

Mine went up to about £210 when my fix finished, but some of the increase would be due to the extra Winter payments. It should work out to around £220 a month on average once it's all settled down, up from around £90 when I was on the fix.

 

As @dockers_strike mentions, there's likely to be a big hike again in October, so even more people are going to be completely fucked.

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https://www.parliamentlive.tv/Event/Index/df312789-eea9-40d4-9cda-f03f46abd58d

 

Update here on the spring statement from: Dr Gemma Tetlow, Chief Economist, Institute for Government; Torsten Bell, Chief Executive, Resolution Foundation; Paul Johnson, Director, Institute for Fiscal Studies

 

14:25- is a useful summation

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  • 1 month later...

I'm shocked, I have to say.

 

Look, as if modern business wasn't going to take the piss with all this?

 

I saw that Now TV had upped the price of its sports day pass from a tenner to 12 quid recently and wondered how war in Ukraine had been a factor in that.

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8 minutes ago, Section_31 said:

I'm shocked, I have to say.

 

Look, as if modern business wasn't going to take the piss with all this?

 

I saw that Now TV had upped the price of its sports day pass from a tenner to 12 quid recently and wondered how war in Ukraine had been a factor in that.

It used to be a fiver! Another fucking rip off. 

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Heh, some programme on channel 4 where they follow people and tell them how much they've wasted that month on trainers and coffee and stuff.

 

Stand by for phase 2. Just like there used to be loads of programmes about benefits, now there'll be stuff telling you how wasteful the great British public is, and that's why they're always skint.

 

That's how they roll here, they shit in your mouth then charge you for the napkin.

 

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On 26/12/2021 at 14:00, Bobby Hundreds said:

There's a giant fireball in the sky that's powered life on this planet for billions of years and will continue for billions more, they should take a war footing on research and development for efficient practical solar panels. Tesla is making one's that look like actual roof tiles. With the right will they sent men to the moon in a washing machine powered by a casio calculator. The ingenuity, creativity and foundations are there to do spectacular things. All that wasted space on rooftops of every type of building from homes to warehouses all over the world. Feels like the only jumps in tech we have these days are in phones and TVs ( I know that's not true). Phones seem to be the only things that have lived upto films projections of future tech.

 

Look as an Internet forum user I'm an expert on practically most things but not all I don't know how to do it or if it's even possible all I am saying is get it done. Rico you work in the field get on it.

There’s a big reason there’s been no shift towards solar power, the same reason why there has been no shift to electric vehicles.

 

It rhymes with funny.

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15 minutes ago, Shooter in the Motor said:

There’s a big reason there’s been no shift towards solar power, the same reason why there has been no shift to electric vehicles.

 

It rhymes with funny.

Can’t remember if I answered this at the time.  One of the big issues on a small scale is financing it, if you get solar panels on your house the payback could be years.  A homeowner may not know if they will stay in house long enough to get the payback.  Same with batteries and to a lesser extent EV chargers. What we need is a model where someone else provides the capital and then the homeowner rents the asset.

 

The obvious issue is churn, so when the original homeowner moves will the new owner pick up the rent.  As this is unknown there aren’t many banks willing to take the punt.  This crisis could make the numbers look completely different. I may or may not work for someone who’s looking at that. 
 

There are loads of schemes trying to solve the problem, whoever does it will make billions.  

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For anyone still with me the above is the model largely used in metering.  Energy companies don’t want to have the meter on their balance sheets as they soon add up. So, the meter is bought by a MAP, who pay the energy supplier to install it and then the energy supplier rents it from the MAP.  If the customer then switches energy supplier the new supplier is obliged to pick up the rental as part of their licence conditions.  That’s the beauty of it. 
 

If you think there’ll be tens of millions of meters out there, each generating a daily rental for 15-20 years you’ll see why it’s big money. Replicate that model for batteries or solar and Bobs your uncle. 

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  • 1 month later...
On 05/05/2022 at 21:28, Rico1304 said:

Can’t remember if I answered this at the time.  One of the big issues on a small scale is financing it, if you get solar panels on your house the payback could be years.  A homeowner may not know if they will stay in house long enough to get the payback.  Same with batteries and to a lesser extent EV chargers. What we need is a model where someone else provides the capital and then the homeowner rents the asset.

 

The obvious issue is churn, so when the original homeowner moves will the new owner pick up the rent.  As this is unknown there aren’t many banks willing to take the punt.  This crisis could make the numbers look completely different. I may or may not work for someone who’s looking at that. 
 

There are loads of schemes trying to solve the problem, whoever does it will make billions.  

There are 2 issues with the free to fit models; technology development and contractual disputes with low income households. Technology is still rapidly evolving particularly for batteries and ev chargers so long 10 year plus paybacks may lead to the householder renting a very obsolescent bit of kit which leads on to my second point of contractual disputes. If the householder breaks the contract say after 5 years becuase IKEA are now selling a better cheaper battery, is it worth incurring the cost of taking the householder to court for a relatively small future cash flow secured against an obsolescent asset? Even if they win are the funders willing to enforce against what will probably be a low income household (which is why they were renting) who no doubt will run straight to the papers. It’s different to car leases etc becuase there is no residual value to the asset so the funders only recourse is against the low income householder. 
 

 I understand there are lawyers preparing class actions for miss selling against the funders of the original free to fit solar model based on the householder not understanding he was forgoing the rights to his roof for 25 years. I can see similar claims re domestic batteries.
 

This is why the mainstream banks don’t like the sector, dynamic technology and 10000s of low income counter parties who it would be terrible PR to take to court to enforce a potentially miss sold contract. 

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24 minutes ago, Captain Willard said:

There are 2 issues with the free to fit models; technology development and contractual disputes with low income households. Technology is still rapidly evolving particularly for batteries and ev chargers so long 10 year plus paybacks may lead to the householder renting a very obsolescent bit of kit which leads on to my second point of contractual disputes. If the householder breaks the contract say after 5 years becuase IKEA are now selling a better cheaper battery, is it worth incurring the cost of taking the householder to court for a relatively small future cash flow secured against an obsolescent asset? Even if they win are the funders willing to enforce against what will probably be a low income household (which is why they were renting) who no doubt will run straight to the papers. It’s different to car leases etc becuase there is no residual value to the asset so the funders only recourse is against the low income householder. 
 

 I understand there are lawyers preparing class actions for miss selling against the funders of the original free to fit solar model based on the householder not understanding he was forgoing the rights to his roof for 25 years. I can see similar claims re domestic batteries.
 

This is why the mainstream banks don’t like the sector, dynamic technology and 10000s of low income counter parties who it would be terrible PR to take to court to enforce a potentially miss sold contract. 

By mainstream do you include Goldmans and Blackrock?  
 

Im describing what will happen, think of Housing Associations or councils for example. They’ll take the debt risk and pass it on to their tenants rolled into rents.  You’d no more separate the battery/solar element of your rent than you would windows or roof.
 

In a world without gas boilers something that saves you electricity costs will be a positive not a negative.  

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1 minute ago, Rico1304 said:

By mainstream do you include Goldmans and Blackrock?  
 

Im describing what will happen, think of Housing Associations or councils for example. They’ll take the debt risk and pass it on to their tenants rolled into rents.  You’d no more separate the battery/solar element of your rent than you would windows or roof.
 

In a world without gas boilers something that saves you electricity costs will be a positive not a negative.  

Yes I agree. If it is rolled into the rent it is much less likely to be a bad debt. I just worked on a massive debt refinancing deal in Europe along similar lines. DM me if you want details. Thanks 

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