energy prices

[The Real Maroonblood]

6 minutes ago, SectionDJambo said:

Diverting resource from reducing fuel prices to reducing food prices? I think I'm correct in saying that Aldi and Lidl do not have filling stations on their premises. If so, Tesco, Asda and Sainsbury have a disadvantage over the German stores in that it's hard to make a decent retail profit on fuel whilst keeping prices low. Fuel theft by people driving off without paying doesn't help.  

Customers are probably more interested in food prices than fuel prices. The likes of "Which" certainly are, going by their survey results.

Supermarkets have, generally, destroyed the independent retail market for fuel, butcher shops, fish shops etc.. Now they are eating each other up.

Good summary and we’ve just got to suck it up.

What a state the UK is in.

[Dennis Reynolds]

Piss poor planning on my part meant I had to stop at Kinross services to top up my fuel to make it back to Edinburgh. £1.55 a litre. 

 

Stuck £20 in to get home. I would've chanced it if I was by myself but my wife wasn't as optimistic. The traffic on the bridge probably meant I wouldn't have made it in hindsight.

[Nucky Thompson]

Brent crude has risen a few dollars a barrel lately. 

Still only $84 though, so a litre of fuel should still be a lot lower than it is.

 

Robbing bassas sticking it up 

[Greedy Jambo]

I've been lucky that i chose a fixed energy tariff 3 years ago, it runs out this month, any advice before the shit hits the fan?

[The Real Maroonblood]

11 minutes ago, Greedy Jambo said:

I've been lucky that i chose a fixed energy tariff 3 years ago, it runs out this month, any advice before the shit hits the fan?

Mines also runs out this month.

Looked up for any deals and as I suspected there is none worth bothering about.

[Footballfirst]

1 hour ago, The Real Maroonblood said:

Mines also runs out this month.

Looked up for any deals and as I suspected there is none worth bothering about.

I currently pay £140 a month to So Energy.  They offered me a one year fixed term deal for £141.

[The Real Maroonblood]

59 minutes ago, Footballfirst said:

I currently pay £140 a month to So Energy.  They offered me a one year fixed term deal for £141.

EDF deals are the similar.

£113 fixed for a year or £112 Standard Variable.

[JudyJudyJudy]

Got an email from utilities . I’m getting refund of £300 plus my bills going down £50 per month !! Happy days 

[Tommy Brown]

21 hours ago, Greedy Jambo said:

I've been lucky that i chose a fixed energy tariff 3 years ago, it runs out this month, any advice before the shit hits the fan?

Fit a log burner.

When you've burnt away all your floorboards, come back on again and  ask for Tommy's top tips.

[hmfcbilly]

On 01/08/2023 at 20:17, Greedy Jambo said:

I've been lucky that i chose a fixed energy tariff 3 years ago, it runs out this month, any advice before the shit hits the fan?

Count yourself lucky you've been a few grand better off the past 2 years and buckle up for cut backs like the majority of us I'm afraid!

[Cade]

E.ON posts half year profits of £4.9 billion 

 

 

Edited August 9, 2023 by Cade

[Psychedelicropcircle]

I See the Saudi gov want to keep prices up as they diversify their economy (translates as to pay our football bill)

 

*****

[Howdy Doody Jambo]

On 02/08/2023 at 17:28, Tommy Brown said:

Fit a log burner.

When you've burnt away all your floorboards, come back on again and  ask for Tommy's top tips.

You could burn the joists after the floorboards and suspend a hammock and smoke a cigar 

[Fxxx the SPFL]

Getting rid of the car will save on finance, petrol, road tax, AA, Insurance £400 better off. We both have bus pass and senior railcard for regular trips to see grandkids in Tweedbank. One big shop each month from local supermarket taxi back home a tenner sorted. 

[will-i-am-a-jambo]

4 hours ago, **** the SPFL said:

Getting rid of the car will save on finance, petrol, road tax, AA, Insurance £400 better off. We both have bus pass and senior railcard for regular trips to see grandkids in Tweedbank. One big shop each month from local supermarket taxi back home a tenner sorted. 

Good idea! My car insurance went up by £85 even though l have an extra year NCD and l don't have breakdown cover. The car tax went up by £5 too. Wish l could get a free bus pass, l guess lm gonna have to wait another 15-20 yrs though. 

[Fxxx the SPFL]

10 hours ago, will-i-am-a-jambo said:

Good idea! My car insurance went up by £85 even though l have an extra year NCD and l don't have breakdown cover. The car tax went up by £5 too. Wish l could get a free bus pass, l guess lm gonna have to wait another 15-20 yrs though. 

yep crazy my insurance went up by £20 as well and i queried it with them and said i would move to another provider and they agreed to only increase by a tenner. Don't wish your life away your bus pass will come soon enough lol.

[Footballfirst]

The energy price cap for the average household is expected to fall in October to £1,926 when it is announced next week.

 

While it is a drop of £148, the cap is still more than 50% above the pre Ukraine war cap.

 

Progression

Oct-20 £1,042

Oct-21 £1,277

Oct-22 £3,549 (Gov subsidy to £2,500)

Oct-23 £1,926

Edited August 18, 2023 by Footballfirst

[Tommy Brown]

On 24/05/2023 at 08:19, jack D and coke said:

Interesting. Founder of octopus energy too..

 

18 hours ago, Footballfirst said:

The energy price cap for the average household is expected to fall in October to £1,926 when it is announced next week.

 

While it is a drop of £148, the cap is still more than 50% above the pre Ukraine war cap.

 

Progression

Oct-20 £1,042

Oct-21 £1,277

Oct-22 £3,549 (Gov subsidy to £2,500)

Oct-23 £1,926

https://www.ofgem.gov.uk/information-consumers/energy-advice-households/energy-price-cap

 

Just had a look at my standing charge with Octopus for West Lothian.

I pay £81.74 with Vat more than the National average.

Why the hell is every area on a different rate.

[the posh bit]

On 23/05/2023 at 19:26, Jeffros Furios said:

Sir Keith and our next PM ♥ 

 

I don't know one single person who doesn't think Sur Keef isn't a fraud. And here you are 😉

[il Duce McTarkin]

46 minutes ago, the posh bit said:

 

I don't know one single person who doesn't think Sur Keef isn't a fraud. And here you are 😉

 

Tbf, there's only about 2 folk that'll give you the time of day, and that includes your family.

[the posh bit]

1 hour ago, il Duce McTarkin said:

 

Tbf, there's only about 2 folk that'll give you the time of day, and that includes your family.

 

 

[il Duce McTarkin]

8 minutes ago, the posh bit said:

 

 

 

Nice bit of simulated breast grabbing by Sir Keir, there. What's not to like?

[OBE]

Only in the UK, still accepting the utilities boaby.

 

 

 

 

 

 

 

 

 

[Footballfirst]

The government has failed to find any buyers for new offshore wind developments in its latest licensing round. Apparently, not enough profit to be had for the energy companies, while consumers continue to be shafted by higher bills.

 

https://www.bbc.co.uk/news/business-66749344

 

 

[Mikey1874]

1 hour ago, Footballfirst said:

The government has failed to find any buyers for new offshore wind developments in its latest licensing round. Apparently, not enough profit to be had for the energy companies, while consumers continue to be shafted by higher bills.

 

https://www.bbc.co.uk/news/business-66749344

 

 

 

Would be a loss for energy companies not a profit. Wind is cheaper than gas fields but costs have risen. Government wouldn't pay any more. 

Edited September 8, 2023 by Mikey1874

[Lone Striker]

1 hour ago, Footballfirst said:

The government has failed to find any buyers for new offshore wind developments in its latest licensing round. Apparently, not enough profit to be had for the energy companies, while consumers continue to be shafted by higher bills.

 

https://www.bbc.co.uk/news/business-66749344

 

 

 Sounds like the generating companies are acting like a cartel to force the government to offer much bigger subsidies  .So much for the concept of competition in the energy market. 

 

[Victorian]

It's a legitimate international marketplace in which to compete for the investment that is desired elsewhere.  The UK is sitting with it's thumb up it's arse as usual.  

[Mikey1874]

Its definitely complex. Everyone seems to be criticising the Government today. But then higher costs should also encourage innovation. Maybe the providers should be doing that and keeping costs low. How long that would take though.

 

And then how to compare different energy. New nuclear plants get a guaranteed energy price too. But how does it compare. Wind seems to be the cheapest. So more wind should mean lower bills. 

[Footballfirst]

1 hour ago, Mikey1874 said:

 

Would be a loss for energy companies not a profit. Wind is cheaper than gas fields but costs have risen. Government wouldn't pay any more. 

Where does it mention a loss in the article? It cites that the price on offer does not take increased costs into consideration, so lower profits.

 

My reading of it is that the energy companies are just looking for a higher return than what's on offer.

[Mikey1874]

33 minutes ago, Footballfirst said:

Where does it mention a loss in the article? It cites that the price on offer does not take increased costs into consideration, so lower profits.

 

My reading of it is that the energy companies are just looking for a higher return than what's on offer.

 

Yes energy companies bad and profiteering is how you are looking at it. 

 

If nothing gets built offshore now though we might need Russian gas again before long. 

Edited September 8, 2023 by Mikey1874

[Footballfirst]

21 minutes ago, Mikey1874 said:

 

Yes energy companies bad and profiteering is how you are looking at it. 

 

If nothing gets built offshore now though we might need Russian gas again before long. 

Alternatively the energy companies are trying to blackmail the government to increase the price guarantee, so that they can meet the desired return on investment for their shareholders, e.g. a 5% ROI is not enough, 10% would be a bit better, but we are really looking for 15% (illustrative figures only).

 

If nothing gets built, then the energy companies are complicit and the costs are borne by the consumers, not the energy companies, who will probably benefit from increased wholesale prices  elsewhere from their other investments.

 

I think that's what they laughingly call a "free market", aka a charter for profiteers.

[Cade]

This is why you Nationalise all the strategic national industries.

No more being held ransom by profiteers.

 

 

[John Gentleman]

56 minutes ago, Footballfirst said:

Alternatively the energy companies are trying to blackmail the government to increase the price guarantee, so that they can meet the desired return on investment for their shareholders, e.g. a 5% ROI is not enough, 10% would be a bit better, but we are really looking for 15% (illustrative figures only).

 

If nothing gets built, then the energy companies are complicit and the costs are borne by the consumers, not the energy companies, who will probably benefit from increased wholesale prices  elsewhere from their other investments.

 

I think that's what they laughingly call a "free market", aka a charter for profiteers.

You're right. It's a rigged game. Not what Adam Smith had in mind at all. They simply socialise their losses and capitalise their gains. T'was ever thus, but it doesn't mean it has to continue to be like this.

We need leaders with spines. 

[manaliveits105]

Octopus reducing their prices from 1st October lower than the new Ofgem price cap .

monthly payment down by £46 for me and offering to either fix at October rate

or a tracker linked to the daily wholesale price  - decent options but think I will just let it roll. 
Only about £14 more per month than before the Russian invasion now and well in credit 

Good times a coming !

[Greedy Jambo]

https://vm.tiktok.com/ZGJ7cP6xv/

Haa.

[OBE]

Octopus energy tariffs reduced by 8% come Oct, currently paying £118pm for both G&E. DD recommended increase to £145pm...

[Americana]

Went from 58 quid a month for G & E from Eon to a recommended DD of £120 a month. On top of my mortgage which has just went up 250 quid a month this crisis can go duck itself.

[Jambo-Jimbo]

I'm also with Octopus and currently pay £100 pm for G & E, rising to £116 pm from October, which is ok with me as I'm still well over £300 in credit as this is my buffer over the winter.

 

Happy with Octopus since my transfer from Bulb.

[hmfc_liam06]

Octopus users, have you had an email about your tariff? Nothing for me so far.

[Mysterion]

Octopus have been really competitive and innovative with their tariffs 

Tracker doesn't really appeal for winter but over the summer it had a lot of good value.

 

The Cosy one is well worth a look if running a heat pump/can shift power usage around.

 

 

 

[Jambo-Jimbo]

2 hours ago, hmfc_liam06 said:

Octopus users, have you had an email about your tariff? Nothing for me so far.

 

Yes, got an email last week about their new lower tariffs from the 1st October, a reduction of around 8%.

 

[henryheart]

3 hours ago, hmfc_liam06 said:

Octopus users, have you had an email about your tariff? Nothing for me so far.

 

I got mine on Saturday. To quote the email:

 

"Ofgem have announced the new energy price cap from October 1. Once again, Octopus will set its prices below the cap.
Octopus standing charges are already the cheapest of any large supplier. We will not raise them in October, and unit rates will be cut.
Our new unit rates from October 1 are reducing by 8% on average (there’s a full breakdown attached)."

 

My unit rate for gas is reducing by 8.2%; for electricity it is going down by 9.4%.

 

Interesting they go on to say:

 

"We don’t know what will happen to energy prices in the future, but market analysts forecast that energy prices will stay around their current levels, with small rises and falls for the next 12 months."

[Jeffros Furios]

I'm with Shell and Octopus have bought thier UK energy customers .. hopefully when transfer is completed they charge  Octopus prices . I'm paying £175pm which is  a joke. 

[Jambo-Jimbo]

30 minutes ago, Jeffros Furios said:

I'm with Shell and Octopus have bought thier UK energy customers .. hopefully when transfer is completed they charge  Octopus prices . I'm paying £175pm which is  a joke. 

 

When the transfer is complete then you'll be an Octopus customer on Octopus rates, I'd imagine, can't see any reason why not.

 

When the Bulb transfer was completed everybody (I assume) would have went onto Octopus rates which were slightly lower than Bulb's IIRC, I know mine's did.

[hmfc_liam06]

Cheers @henryheart

[Greedy Jambo]

£1.69 per litre of deisel in livi, i thought the price of fuel was supposed to be coming down?

[hughesie27]

1 hour ago, Jeffros Furios said:

I'm with Shell and Octopus have bought thier UK energy customers .. hopefully when transfer is completed they charge  Octopus prices . I'm paying £175pm which is  a joke. 

£220 here. 3 bed with 2 of us in it. Almost all lights are LED and we never leave ones on when not in the room. Nest Thermostat too. No idea where it comes from.

 

Last year the Smart Meter reckons we used 6500 KW/h Leccy and 7000KW/h Heating 

Edited September 25, 2023 by hughesie27

[Tommy Brown]

15 hours ago, hmfc_liam06 said:

Octopus users, have you had an email about your tariff? Nothing for me so far.

Pm you my letter Liam.

It has the actual new rates on it

Looking like a £10 saving for me on each Gas and Electric 

[cazzyy]

An update from HUGO which specifically mentions Octopus, worth a read.

 

Seems to suggest that Octopus will be exposed over the winter (they only say that they won't increase prices in October) and the Russian situation makes them vulnerable. They suggest fixing for a year in October if you can or try to fix at last April's rates if you can't get an October deal.

 

https://us20.campaign-archive.com/?e=6fe2a5277e&u=6ffa80ed904bdd246d710ae1d&id=b9b0be9503

Edited September 26, 2023 by cazzyy

[hmfc_liam06]

7 hours ago, Tommy Brown said:

Pm you my letter Liam.

It has the actual new rates on it

Looking like a £10 saving for me on each Gas and Electric 

 

Looks like your current rates tie in with mine so I assume I'll be going to the same rates you've been offered from Oct.

If so looks like a £7pm saving for me. Exciting times ahead