Energy Prices

[Billy Jean King]

BBC News - Cutting energy prices will take years - power boss
https://www.bbc.co.uk/news/business-63834755

Interesting that our resident PnB energy / economics experts keep banging on about inflation (driven by energy prices) dropping like a stone by the Spring yet here we have an energy boss telling us not to expect drops like that in the cost of energy for "years" and citing reasons that don't actually include the ongoing war.

I'd be stunned if the cost to consumers ever goes back to anything remotely approaching the levels of 12/18 months ago.

[beefybake]

13 minutes ago, Billy Jean King said:

BBC News - Cutting energy prices will take years - power boss
https://www.bbc.co.uk/news/business-63834755

Interesting that our resident PnB energy / economics experts keep banging on about inflation (driven by energy prices) dropping like a stone by the Spring yet here we have an energy boss telling us not to expect drops like that in the cost of energy for "years" and citing reasons that don't actually include the ongoing war.

I'd be stunned if the cost to consumers ever goes back to anything remotely approaching the levels of 12/18 months ago.

Tbf...., he would say that.     His company has £52Bn of debt to pay off.

Edited December 4, 2022 by beefybake

[strichener]

57 minutes ago, Billy Jean King said:

BBC News - Cutting energy prices will take years - power boss
https://www.bbc.co.uk/news/business-63834755

Interesting that our resident PnB energy / economics experts keep banging on about inflation (driven by energy prices) dropping like a stone by the Spring yet here we have an energy boss telling us not to expect drops like that in the cost of energy for "years" and citing reasons that don't actually include the ongoing war.

I'd be stunned if the cost to consumers ever goes back to anything remotely approaching the levels of 12/18 months ago.

The point regarding inflation is that prices need to continue rising to keep the rate high.  If energy prices stabilise or fall (even slightly) then inflation will fall.

[Billy Jean King]

The point regarding inflation is that prices need to continue rising to keep the rate high.  If energy prices stabilise or fall (even slightly) then inflation will fall.

Falling inflation simply means prices rising less quickly. 10% inflation or 5% inflation, prices are still rising. I suspect anyone expecting energy prices to go back to anything close to the levels of 12/18 months ago is in for a dunt. Best to budget for the worst while hoping for the best in the current situation.

[Todd_is_God]

59 minutes ago, Billy Jean King said:

2 hours ago, strichener said:

The point regarding inflation is that prices need to continue rising to keep the rate high.  If energy prices stabilise or fall (even slightly) then inflation will fall.

Falling inflation simply means prices rising less quickly. 10% inflation or 5% inflation, prices are still rising. I suspect anyone expecting energy prices to go back to anything close to the levels of 12/18 months ago is in for a dunt. Best to budget for the worst while hoping for the best in the current situation.

Wait... are you expecting deflation?

You appear to be viewing inflation falling rapidly in the second half of next year and mid to long term energy prices returning to 2020 levels as closely related.

They're not - the former will happen without the need for the latter.

You thought you had an absolute zinger of a point, but didn't. There's no need to dig deeper.

Edited December 4, 2022 by Todd_is_God

[Billy Jean King]

Wait... are you expecting deflation?
You appear to be viewing inflation falling rapidly in the second half of next year and mid to long term energy prices returning to 2020 levels as closely related.
They're not - the former will happen without the need for the latter.
You thought you had an absolute zinger of a point, but didn't. There's no need to dig deeper.

A zinger [emoji3]let's see you are on record as saying inflation / energy prices will fall like a stone this coming Spring. Time will tell.

[Todd_is_God]

10 minutes ago, Billy Jean King said:

A zinger let's see you are on record as saying inflation / energy prices will fall like a stone this coming Spring. Time will tell.

Tell you what, when inflation is around 5% by summer, with energy prices around a similar level to what they are now, will you come back and reveal what the point you were trying to make in your previous word salad was?

[Aufc]

The point being the credit doesn't build up over over a month or two, thats like a years worth, surely the punter thinks at 500 "i better drop my dd or ask for a refund" why let it go up to a grand

To be fair, I am in credit with my supplier to abour £500. I’m on a very low tariff as I signed a contract before all of this. This expires in October 23. Ive just left my DD at a bit higher than usual in anticipation of the increased rates I will have to suffer from next year.

[Billy Jean King]

Tell you what, when inflation is around 5% by summer, with energy prices around a similar level to what they are now, will you come back and reveal what the point you were trying to make in your previous word salad was?

I admire that you still make these bold statements but you seem to be pushing back already as on 17 November it was....

If you think Inflation come April isn't going to begin falling off a cliff then I would love to know why....

The several responses to the 17 November prediction were along the lines of "pinches of salt" given your previous track record in the Covid thread.

[54_and_counting]

32 minutes ago, Aufc said:

To be fair, I am in credit with my supplier to abour £500. I’m on a very low tariff as I signed a contract before all of this. This expires in October 23. Ive just left my DD at a bit higher than usual in anticipation of the increased rates I will have to suffer from next year.

Yeah but thats your choice, you know you've done it and are happy to do it, some of the stories you read about people unknowingly building up massive credit with power companies is absurd, do any of them ever read their bills

[Todd_is_God]

28 minutes ago, Billy Jean King said:

I admire that you still make these bold statements but you seem to be pushing back already as on 17 November it was....

If you think Inflation come April isn't going to begin falling off a cliff then I would love to know why....

The several responses to the 17 November prediction were along the lines of "pinches of salt" given your previous track record in the Covid thread.
 

I don't see how suggesting inflation will be around 5% in the summer contradicts "begin falling off a cliff" come April. Going from double digit inflation to around 5% in the space of 3-4 month is falling off a cliff. It's entirely consistent.

Are you ok? You're having an absolute nightmare.

I'm fairly happy with my "track record" on covid tbh. It was pretty good overall.

Edited December 4, 2022 by Todd_is_God

[Billy Jean King]

Todd is right.
You wrongly conflated falling inflation with deflation.
They are not the same thing.

Saying inflation at 5% rather than 10% means prices are still rising is in no way "conflating" inflation with deflation.

[Gnash]

7 hours ago, Billy Jean King said:

7 hours ago, oaksoft said:

Todd is right.
You wrongly conflated falling inflation with deflation.
They are not the same thing.

Saying inflation at 5% rather than 10% means prices are still rising is in no way "conflating" inflation with deflation.

But it is still inflation 'dropping like a stone', which is what you said to kick all this off.

[scottsdad]

19 hours ago, oaksoft said:

And I hate to say it, but Todd was reasonably accurate in his assessment of covid dying away as well. The fact that it took governments another year to admit that was another matter.

It's always good to be able to recognise when you've made a mistake and you're at that point here. Best to stop digging mate.

@Todd_is_God, I'm expecting a Christmas present for all, this pillow fluffing I'm doing on your behalf.

The word "pillow" doing a lot of heavy lifting here...

[Buttocks Brown]

We could shortly be at the beginning of the next chapter in the energy crisis. There were warnings in the autumn that very cold and still conditions could mean supply issues and possible rationing:

https://news.sky.com/story/decision-to-ration-energy-this-winter-could-be-out-of-the-prime-ministers-hands-12713765

Very cold and still is the forecast for the next 7 days at least.

[Wee Bully]

On 04/12/2022 at 15:02, oaksoft said:

And I hate to say it, but Todd was reasonably accurate in his assessment of covid dying away as well. The fact that it took governments another year to admit that was another matter.

It's always good to be able to recognise when you've made a mistake and you're at that point here. Best to stop digging mate.

@Todd_is_God, I'm expecting a Christmas present for all, this pillow fluffing I'm doing on your behalf.

Well, that’s just wrong.  He made the assessment that “covid was over as a public health emergency” just before both cases AND deaths peaked, and before any vaccines had been developed.  In no way could covid be described as “dying away” in August 2020.

[Bairnardo]

Pretty sobering watching the smart meter in this cold snap. 

[scottsdad]

2 minutes ago, Bairnardo said:

Pretty sobering watching the smart meter in this cold snap. 

At least it isn't raining today. You can get the washing hung out. 

[Bairnardo]

3 minutes ago, scottsdad said:

At least it isn't raining today. You can get the washing hung out. 

Your sheets would be stiffer than before you put them in. 

[scottsdad]

Just now, Bairnardo said:

Your sheets would be stiffer than before you put them in. 

Depends on what you've been up to in the sheets...