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Energy Prices

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The energy loan is a grift. it’s like I’m mystic Meg (or have been doing this shit for too long). 
 

300,000 new homes built per year is the UK's target according to a parliamentary paper released on 2nd Feb 2022. This means that in 5 years time, an additional 1.5m houses are planned to exist
- Each property is required to pay back £40 a year, regardless of whether they received the £200 credit in 2022
- Crude maths (not taking into exactly when these houses are habitable but 5 x (year1 x £40) + 4 x (year2 x£40) etc) suggests up to £180m of additional revenue will be generated in these payments, no doubt quietly plugging a budget gap caused by Covid-19 initiatives
 
But, how is this levy paid?
 
- If an Energy Supplier is adding this to a bill for repayment, is it assumed that the Energy supplier would make the payments to the government and claim it back as a pass through charge?
- What if customers struggle to make repayments and fall into debt? What support are they entitled to receive and, could it result in disconnection or impact on credit records?
- If the suppliers need to make this payment up front and can't afford to (similar to the ROCs scheme which has seen a number of suppliers ultimately close down because of liabilities they couldn't pay), could we see further smaller suppliers go under, and therefore cause further spikes in costs to the consumers to foot the bills of failed Suppliers?

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Natural gas prices have soared after Russia’s invasion of Ukraine piled further pressure on Europe’s strained energy markets.

 

Benchmark European gas prices jumped as much as 41pc to €125 a megawatt-hour in their fourth consecutive day of gains, while the UK equivalent surged by a third.

 

Fears have been mounting throughout the week that a conflict could disrupt energy supplies to Europe. Germany has already suspended its approval of the Nord Stream 2 pipeline, which would have doubled inflows of gas from Russia.

 

Oil prices jumped past $100 a barrel for the first time since 2014, while prices in commodities ranging from wheat to aluminium also surged amid concerns supplies of raw materials from the region could be upended.

 

EDIT 11:06

Power prices surge amid energy turmoil

Power prices have soared as the conflict continues to spread shockwaves through Europe's energy markets.

Day-ahead electricity prices jumped 33pc to £216 per megawatt-hour – the highest level in almost a month.

 

https://www.telegraph.co.uk/business/2022/02/24/ftse-100-markets-live-news-russian-index-oil-gas/

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Slightly off topic but a lad I used to work with now works for the HSE and he’s investigating a C02 death caused by a cooker.

 

Make sure you’ve got a CO2 detector wherever you’ve got an appliance.   

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2 hours ago, RedKnight said:

SSE emailed yesterday to say that my electricity will go up to £72 p/m from £53 and the gas from £32 to £49 p/m. Sensational.

One of my brothers got notification about his 'new' dual fuel tariff. 2 grand on a small 3 bed quasi terrace. Being in his early 80's him and his partner like to keep warm but dont have the gaff roasting hot. He was mortified.

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On 24/02/2022 at 12:30, RedKnight said:

SSE emailed yesterday to say that my electricity will go up to £72 p/m from £53 and the gas from £32 to £49 p/m. Sensational.

 

Still, that's only £1450 PA on energy. Mine is going to be just under £2k. My sister will be paying nearly £2300.

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Yeah, ours has just jumped from £130 a month to £185. Admittedly, with a baby in the house we have the heating on more than ever.

 

I'm looking forward to the absolute, definite, nailed on, only fair 10% pay-rise next month to cover all of these additional costs.

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On 24/02/2022 at 15:42, Rico1304 said:

Slightly off topic but a lad I used to work with now works for the HSE and he’s investigating a C02 death caused by a cooker.

 

Make sure you’ve got a CO2 detector wherever you’ve got an appliance.   

Excellent advice.

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My tariff with Scottish Gas has gone from £100 a month to £200 in the space of a few weeks.

 

Let joy be unconfined.

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47 minutes ago, Mook said:

My tariff with Scottish Gas has gone from £100 a month to £200 in the space of a few weeks.

 

Let joy be unconfined.

Just got an update from Octopus. They intend to increase ours from 2 April to £330 a month, smoothed over the next 10 months until the October increase comes in.

 

EDIT: Soz, should make clear that's their cheapest fixed price tariff. Variable tariff will be £225 a month.

 

Government is either going to have to step in at that point and subsidise everyone's bills whether they are fucking affluent or not or, crack open the Irish Sea, North Sea and Shale gas sites.

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2 hours ago, Creator Supreme said:

What the actual fuck? Surely they've been miscalculated?

I sure hope so because I got one for 10 grand over the course of a year. These energy companies really do give incompetence a whole new meaning. They are horrendous.

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4 hours ago, Karl_b said:

Yeah, ours has just jumped from £130 a month to £185. Admittedly, with a baby in the house we have the heating on more than ever.

 

I'm looking forward to the absolute, definite, nailed on, only fair 10% pay-rise next month to cover all of these additional costs.

They can’t do that because of the cap.  That’s the point. 

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1 hour ago, Rico1304 said:

They can’t do that because of the cap.  That’s the point. 

Do what? Raise my energy bills? Or have you mis-read my comment about a 10% pay-rise? I was implying that I won't be getting that from work to cover the increased cost of living.

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25 minutes ago, elvis said:

Some wonderful gallows humour on this thread . 

 

Only a matter of time before we chop the gallows up for firewood.

  • Upvote 3

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1 hour ago, Karl_b said:

Do what? Raise my energy bills? Or have you mis-read my comment about a 10% pay-rise? I was implying that I won't be getting that from work to cover the increased cost of living.

Sorry mate - you’re right I misread it!   Fingers crossed for your rise…

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