Energy Prices

[SuperSaints1877]

If these factors (Brexshit, Covid and WW3) do not create a massive house price crash in the UK I’ll be surprised.

When will we start to hear “Negative Equity” on the CoL Bingo Card?

[V.Aye.R]

1 hour ago, Left Back said:

No you aren’t.  You can pay the balloon payment and keep the car.  We’ve done that on 3 or 4 cars.

Let's be honest, if it weren't massively in favour of the dealership they wouldn't be pushing it. This feeling of the consumer 'winning' on the final value is just part of the bait. Extremely clever scheme. 

[DA Baracus]

1 hour ago, oaksoft said:

The technology to hack mobile phones and intercept all wireless communications, including banking transactions has been around for decades.

If you believe your phone is perfectly safe however, then go ahead. Nobody is stopping you. Maybe you are the owner of the first phone in the world to do bank transactions without communicating banking details.

I've done plenty of transactions using the banking app on my phone. Not once have I been hacked. In fact, I've never personally heard from anyone that they've been hacked as a result of using a banking app on their phone.

Is it any less safe than having someone dodgy working in a branch?

[Shadow Play]

3 hours ago, Dunfermline Don said:

Back to energy prices.

I look after an autistic guy who lives in his own home and has 24/7 support. He received an email from his energy provider yesterday offering him a fixed price tariff which based on current usage would be around £5.5k pa. If he stays on the standard tariff it would be around £3.3k.

This makes me wonder how much they are expecting to be increase their prices in the near future?

I’m fairly sure they knew at the time of the last increase prices would go way above the £2,600 (average bill) they claimed it would go up to come October.  We are now looking in significantly in excess of £3,000 come October.  Drip feeding bad news to the public is always the preferred choice.

All to do with perception, just like folk will reluctantly accept a 5% pay rise when inflation is 10% but they would be up in arms with a 5% pay reduction if inflation was 0%.

[Bert Raccoon]

32 minutes ago, DA Baracus said:

I've done plenty of transactions using the banking app on my phone. Not once have I been hacked. In fact, I've never personally heard from anyone that they've been hacked as a result of using a banking app on their phone.

Is it any less safe than having someone dodgy working in a branch?

I can't comment on all banks verification techniques but the bank I work for has various levels to access the online banking app (Face ID, Fingerprint ID, Two step verification etc...) the only people who have their online banking hacked are either people with weak passwords or people who give their passwords away.

[DA Baracus]

Just now, Bert Raccoon said:

I can't comment on all banks verification techniques but the bank I work for has various levels to access the online banking app (Face ID, Fingerprint ID, Two step verification etc...) the only people who have their online banking hacked are either people with weak passwords or people who give their passwords away.

But there's hacking technology! It's been around for DECADES!!! Even though banking mobile apps have not been around for decades.

[BFTD]

Oaksoft calling out other people's hubris and pointing out that nobody's forcing them to read posts on here.

And some people think he's serious!

[Bert Raccoon]

20 minutes ago, oaksoft said:

I do love this kind of hubris. 

Of course you must know better than everyone else 

[DA Baracus]

Use multi quote for f**k sake and stop spamming.

[Satoshi]

Never get the near moralistic objection to car leasing when a car is a crap asset to own, and there are many circumstances where leasing is perfectly appropriate.

Can't see a house crash either, most governments (and especially the UK) will do virtually anything to avoid it.

House price crash = change of government. Not a doubt about it.

[Dons_1988]

8 hours ago, Shadow Play said:

I’m fairly sure they knew at the time of the last increase prices would go way above the £2,600 (average bill) they claimed it would go up to come October.  We are now looking in significantly in excess of £3,000 come October.  Drip feeding bad news to the public is always the preferred choice.

All to do with perception, just like folk will reluctantly accept a 5% pay rise when inflation is 10% but they would be up in arms with a 5% pay reduction if inflation was 0%.

Also got to consider that the wholesale prices went up way before the price cap did so a lot of these companies have been absorbing the additional cost, that’s before you consider people who have remained on fixed rate tariffs. 

Inflated fixed rate tariffs for customers now will be their way of compensating for those losses. 

[Melanius Mullarkey]

9 hours ago, oaksoft said:

I do love this kind of hubris. 

Would you like to point to where the online banking touched you?

[scottsdad]

14 hours ago, oaksoft said:

Taking on these things just seemed like too big a risk for me personally. I'd rather own a smaller car, have no major outgoings and have the option of starting to relax into my 50s instead of still needing to pan my nut in until I was physically broken at the age of 68.

What about your job would physically break you? 

[Melanius Mullarkey]

2 minutes ago, scottsdad said:

What about your job would physically break you? 

Walking to the bank every day at lunchtime to withdraw a fiver over the counter.

[Left Back]

3 hours ago, Dons_1988 said:

Also got to consider that the wholesale prices went up way before the price cap did so a lot of these companies have been absorbing the additional cost, that’s before you consider people who have remained on fixed rate tariffs. 

Inflated fixed rate tariffs for customers now will be their way of compensating for those losses. 

I have my  doubts about this.  The big players are likely to have hedged there future energy purchases so while they may not have made as much money as they would have if things hadn't turned to shit I have my doubts they have real losses to compensate for (British Gas announced something like £130m profit the other day as part of the Centrica results so they aren't exactly bleeding to death).

Won't stop them trying to keep the prices inflated though and we'll be in the same situation as we are with petrol now but it will be a longer term thing.  In say a year/18 months time if the wholesale gas market has calmed down prices to the consumer won't have dropped and the excuse will be that it was bought at wholesale prices as they are now so they can't drop the price just yet.

[Bonksy+HisChristianParade]

6 hours ago, Satoshi said:

Never get the near moralistic objection to car leasing when a car is a crap asset to own, and there are many circumstances where leasing is perfectly appropriate..

It’s a mixture of envy, lack of understanding & being stuck in a ‘traditional’, old fashioned mindset. Sometimes they are unaffordable and financially stupid deals, however it totally depends on personal circumstances and there are a lot of decent deals out there.

[DA Baracus]

1 hour ago, oaksoft said:

Jeezo. You really are a torn-faced, whiny bugger. 

Being around you must just suck the life right out of a person.

You deduced that from a post saying you should learn to use the multi-quote function and stop your spamming?

[Dons_1988]

17 minutes ago, Left Back said:

I have my  doubts about this.  The big players are likely to have hedged there future energy purchases so while they may not have made as much money as they would have if things hadn't turned to shit I have my doubts they have real losses to compensate for (British Gas announced something like £130m profit the other day as part of the Centrica results so they aren't exactly bleeding to death).

Won't stop them trying to keep the prices inflated though and we'll be in the same situation as we are with petrol now but it will be a longer term thing.  In say a year/18 months time if the wholesale gas market has calmed down prices to the consumer won't have dropped and the excuse will be that it was bought at wholesale prices as they are now so they can't drop the price just yet.

Agreed they won’t be hurting as much as they claim but it’s the mechanism they will use to justify all of this. I was merely suggesting high fixed tariffs being offered now could be as much about compensating for lost profits in the past year as well as predictions of further doom in the winter. 

The big players did take on a whole load of customers from failed Diddy energy companies due to pricing which government will accept as justification for all of this. Doesn’t make them loss making, of course. 

[throbber]

32 minutes ago, DA Baracus said:

You deduced that from a post saying you should learn to use the multi-quote function and stop your spamming?

Don’t listen to him DA you are a warm and cuddly bundle of joy.

[BFTD]

44 minutes ago, DA Baracus said:

You deduced that from a post saying you should learn to use the multi-quote function and stop your spamming?

No, he just figured he'd accuse you of being the absolute definition of himself for the lolz.

I like the frequent posts along the lines of, "why do people get wound up about things, that's just not me at all" that punctuate long spells of, erm, getting very wound up about things, people, internet forums, etc. It's like he goes off his meds for a few days, then takes them all at once and achieves zen for a while. Thankfully, it never lasts.