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Energy Prices


MuckleMoo

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It's not all bad news. Not if you are Centrica anyway.

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(Sharecast News) - UK energy supplier Centrica on Thursday more than doubled annual profits amid soaring gas prices.
Adjusted operating profit for the year to December 31 rose to £948m from £447m a year earlier. Record wholesale energy prices have forced 29 energy suppliers to leave the UK market since last August.

"We believe we need to see significant change to address the underlying issues in the UK's complex energy regulations, by simplifying and strengthening regulations to protect customers and to ensure a crisis of this sort never happens again," the British Gas owner said.

 

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This is just the first rise mind. They'll go up again in October and probably again next year too.

Almost certainly the prices will never come back down.

This is going to kill so many people. Like all greed, it's so short sighted too. Folk are going to have significantly less money to spend in general, so plenty of businesses will surely see less people buying their shit, be it in pubs, takeaways, retail stores, cinemas etc. All non essential places will surely see less business. They'll almost certainly stick their prices up to 'adjust, because the greedy scum who profit can't have it that they make a few million less one year, despite making record profits for years before.

Things are just getting more and more expensive in all areas. It's snowballing. Everything has been steadily getting more and more expensive for years anyway, but the jumps are getting bigger and are closer together. Wages long ago fell far behind, but are now falling further behind quicker.

We're fast approaching a scenario where we'll have a massive increase in homelessness, massive mental health issues across the population and a massive increase in suicide. How can anyone afford, for example, to save for a mortgage deposit when they have less and less to save, all whilst facing huge increases in house prices every single year (meaning the amount a deposit needs to be goes up and up).

Other sectors are watching this carefully and planning what they can get away with in terms of price increases, and they'll blame it on the rising energy costs.

Greed is so fucking vile and so costly. It's so short sighted too. 

Edited by DA Baracus
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This is just the first price hike we'll see. As supermarkets, say, see their energy bills rising, they'll raise their prices to compensate. 

Not seen a penny of the government's alleged help either. Don't expect to - Falkirk are giving money only to those who receive council tax reductions. I am not sure if this is the same approach as elsewhere and/or England. 

I get targeting the poorest with help is the priority, but there are many working people are now facing bill rises of, what £50 a month or more? And they're getting no help, just an NI rise to look forward to and rampant inflation. 

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Things that increasing now and will now be increasing more and more:

- Energy bills

- Council tax

- House prices

- Interest rates

- Fuel

- Transports costs

- Food prices

- Clothing

- Footwear

- N.I.

- Pint of beer and other drinks in a pub

- Vehicles

- Insurance of all kinds

- Entry to the football

- Phone tariffs

- Broadband

- Electronic goods

- Resturants/cafe/coffee shop prices

- Cinema tickets

- Digital downloads

- Subscriptions

 

Probably missed out a lot. The Conservatives, and probably most of Labour, are trying to smash the NHS and go to a model similar to the US where healthcare is a massive racket with ludicrously inflated prices on top of monthly insurance, as well. Remember, the scum in Westminster recently just 'wrote off' billions of pounds for nothing (i.e. given to themselves and their mates). That cash could have been used to help everyone with this recent energy increase. 

Any sensible politician will soon be making energy prices, and some sort of solution to them, a big part of their manifesto. A total tap in. I have little faith the mainstream parties will do that though, as they almost certainly make too much from it all.

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11 hours ago, red23 said:

yeah f**k living in the UK, where you can comfortably live your entire life never working. It's whats wrong with this country, we've no idea how good we have it.

I was unemployed for 3 years in the past and there is nothing remotely comfortable about it at all and it's worse now.  This is a total scumbag post, go f**k yourself. 

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There is already a cap on energy bills in the UK. The reality is that it is only a 'racket' or 'extorsion' if you consider 'largely unregulated free market capitalism' to be the racket - in which case, join the various clubs out there. It's not any different to any other industry that passes cost prices onto consumers and protects their bottom line. 

The bigger issue is why we live in a country that is not able to opt out of the wholesale energy market and make better use of its own, enormous, energy-generating potential. Hydro plants should not be switched on and off based on demand: they should be on continuously and the supply used to reduce prices. Then we should build many more of them to cover the fluctuations of renewables. 

Electricity needs to replace gas by driving down the cost of its clean supply. 

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Offt!! Just received an email from SSE informing me that my direct debit payments will be increasing as of March. Gas has risen around £30 per month to £100 while my electric has risen by £16 per month to £60. All in it's an increase of around £600 for the year.
Take in you are on a non fixed rate or this is the end of your current fixed rate. If not it will be an adjustment based on your consumption rather than a price rise.
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11 minutes ago, virginton said:

 

Hydro plants should not be switched on and off based on demand: they should be on continuously and the supply used to reduce prices. Then we should build many more of them to cover the fluctuations of renewables. 

 

Unfortunately and logistically, if you were to switch on all of the Scottish storage based hydro power stations continuously, the water would run out very quickly.

There is scope for significantly more hydro but that would be pump storage which would be precisely for very short duration output based upon load.

The truth of this is much more complex than your post indicates that you imagine.

 

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Take in you are on a non fixed rate or this is the end of your current fixed rate. If not it will be an adjustment based on your consumption rather than a price rise.
Nope, look at my last post. I've listed the price increases per unit

Apologies, misread your post. Yeah, on a variable rate
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1 hour ago, oaksoft said:

Just got an email from my energy supplier today. f**k me I wasn't expecting that sort of increase. Their projected annual costs suggest somewhere north of a 60% increase on top of 25% just a few months ago when they took over my now bust previous energy supplier.

I can cope with this sort of increase without trouble but if this is replicated across the board, this is going to cause serious damage to a lot of people.

Your electricity rates will change from 20.391p to 27.838p per kWh and your standing charge per day will change from 24.86p to 49.64p. 

Your gas rates will change from 4.010p to 7.335p per kWh and your standing charge per day will change from 26.11p to 27.22p. 

Check that standing charge for your electricity as that is above the new price cap from April of 45.34p.

What is the energy price cap? (moneysavingexpert.com)

 

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5 hours ago, itzdrk said:

I was unemployed for 3 years in the past and there is nothing remotely comfortable about it at all and it's worse now.  This is a total scumbag post, go f**k yourself. 

the point im making is at least we get something here in the UK, try being unemployed anywhere else in the world.

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6 hours ago, Day of the Lords said:

Thanks for your input there. Unfortunately the views of some creepy VL aren't really that important right now, though I'm sure someone will tag you if that ever changes. 

Off you f**k. 

Still going on about this, creepy because i said i'd try it on with a girl at the work night out. Something i'm sure all you moral crusaders have never tried before eh?

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Just received email from EDF saying that my contract is up on 31st March and my new rates are elec 34 per kWh and gas 10p per kWh plus elec S/C of 50p per day and gas at 27per day.

Thats way over a doubling of what I was paying before!!

Havent started looking around yet but I think it’s probably better to go on to the standard variable rate and let the price cap kick in.

Any advice, please?

Wow, this is really quite serious.

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18 minutes ago, Dawson Park Boy said:

Just received email from EDF saying that my contract is up on 31st March and my new rates are elec 34 per kWh and gas 10p per kWh plus elec S/C of 50p per day and gas at 27per day.

Thats way over a doubling of what I was paying before!!

Havent started looking around yet but I think it’s probably better to go on to the standard variable rate and let the price cap kick in.

Any advice, please?

Wow, this is really quite serious.

That is also above the new cap, query it.

What is the energy price cap? (moneysavingexpert.com)

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