Cost of Living Crisis

[Fletcher23]

It is good to see that the government is doing something to help. 

It will not be enough but it will never be.

 

[Fletcher23]

7 minutes ago, Snafu said:

Horrific if people lose their homes through no fault of their own.

Not just rentals but unable to keep up with the mortgage.

It will drain savings as well, all will end up contributing to the energy bosses next bonus and self awarded pay rises.

The governments can pretend they are trying to do something but as Fletcher correctly said it won't be enough, it will never be.

The projected length of time for this crisis could be two years, for much of the population it will be a lifetime.

A lot of businesses are going to collapse, likely around the turn of the year and January which will put people out of work and vulnerable to poverty.

 

 

Good post Snafu. Sadly I can see all of these things you say happening. 

It's going to be a very tough couple of years. I have parents that are approaching 90 and I very worried about them. They use the tumble dryer all the time just now. I am explaining to them the cost and how much it will go up but they do not seem to comprehend by how much. 

I wish someone had the answer.

[Duries Air Freshener]

1 minute ago, Fletcher23 said:

Good post Snafu. Sadly I can see all of these things you say happening. 

It's going to be a very tough couple of years. I have parents that are approaching 90 and I very worried about them. They use the tumble dryer all the time just now. I am explaining to them the cost and how much it will go up but they do not seem to comprehend by how much. 

I wish someone had the answer.

I have been having the same problem with the wife for years! 

Seriously though, I hope it all goes well with your parents.  The government need to get the finger out and pronto.

[Fletcher23]

3 minutes ago, Duries Air Freshener said:

I have been having the same problem with the wife for years! 

Seriously though, I hope it all goes well with your parents.  The government need to get the finger out and pronto.

Tumble dryers are the easy option to dry clothes but use a lot of electric. They have a drying green but it seems they do not  use it and they take the easy option. My dad would not be able to hang washing but I think my mum could. 

I realise when you get to their age everything gets more difficult to do and if there is an easy option you take it. I cannot blame them but I know they are going to get a fright when they get their electric bill when the prices rise. 

 

[Todd_is_God]

On 26/08/2022 at 10:59, Granny Danger said:

Energy costs in other European countries are not rising as fast as those in the U.K., I wonder why that is?

I’ve had no indication that my electricity price is going up.

They are, they are touching €1,000 per MWh in France and Germany now, for example.

I think you are in Spain? Which has a special agreement in place which might explain why you aren't seeing it.

[strichener]

4 hours ago, Todd_is_God said:

They are, they are touching €1,000 per MWh in France and Germany now, for example.

I think you are in Spain? Which has a special agreement in place which might explain why you aren't seeing it.

This is day ahead pricing.  The vast majority of electricity is not bought on this market.  It is extremely misleading to quote that price as it only really used for balancing supply and demand.

[101]

5 hours ago, Fletcher23 said:

It is good to see that the government is doing something to help. 

It will not be enough but it will never be.

 

What are you on about? This government is doing nothing other that stating the obvious.

[welshbairn]

On 26/08/2022 at 10:59, Granny Danger said:

Energy costs in other European countries are not rising as fast as those in the U.K., I wonder why that is?

I’ve had no indication that my electricity price is going up.

Not sure about the Canary Islands but Spain get most of their gas piped from Algeria. Maybe they have a fixed price contract, or maybe they've said we'll pay this unless you want to move the pipelines somewhere else?

[Granny Danger]

4 minutes ago, welshbairn said:

Not sure about the Canary Islands but Spain get most of their gas piped from Algeria. Maybe they have a fixed price contract, or maybe they've said we'll pay this unless you want to move the pipelines somewhere else?

Lanzarote’s electricity is almost exclusively oil generated.  Don’t think there’s any domestic natural gas supplies.

[welshbairn]

6 minutes ago, Granny Danger said:

Lanzarote’s electricity is almost exclusively oil generated.  Don’t think there’s any domestic natural gas supplies.

Oil's been more stable, too many suppliers. Brent Crude went under £100 a barrel recently until Saudi cut production to boost the price.

P.S.

DRILLING COMPANY FINDS EQUIVALENT TO A BILLION BARRELS OF OIL OFF THE COAST OF THE CANARY ISLANDS

Edited August 27, 2022 by welshbairn

[git-intae-thum]

3 hours ago, 101 said:

What are you on about? This government is doing nothing other that stating the obvious.

Have they asked Sid yet?

[Todd_is_God]

3 hours ago, welshbairn said:

Not sure about the Canary Islands but Spain get most of their gas piped from Algeria. Maybe they have a fixed price contract, or maybe they've said we'll pay this unless you want to move the pipelines somewhere else?

They are able to offer cheaper rates because of a mixture of an EU agreement to decouple the price of electricity from the price of gas for 12 months, backed by the fact they are not as dependent on Russian gas as the rest of the EU. The gas they are buying from Algeria is still as expensive as the gas being bought by everyone from everywhere else, though.

The UK, if it were still in the EU, could almost certainly have used this to agree the same for here.

It's incredibly frustrating to watch you continue to witter on about gas prices as though as long as it isn't coming from Russia it's cheaper.

[welshbairn]

12 minutes ago, Todd_is_God said:

The gas they are buying from Algeria is still as expensive as the gas being bought by everyone from everywhere else, though.

It isn't, Algeria are currently trying to renegotiate their fixed price contract with Spain, which is far cheaper than the spot rate. Loads of political stuff going on for leverage. Looks from this like it's based on 2019 prices.

https://www.al-monitor.com/originals/2022/06/algeria-maintain-gas-supplies-spain-despite-dispute

 

 

[Todd_is_God]

8 minutes ago, welshbairn said:

It isn't, Algeria are currently trying to renegotiate their fixed price contract with Spain, which is far cheaper than the spot rate. Loads of political stuff going on for leverage. Looks from this like it's based on 2019 prices.

https://www.al-monitor.com/originals/2022/06/algeria-maintain-gas-supplies-spain-despite-dispute

Your article clearly states that the price is going to rocket in October in line with the market price.

[welshbairn]

38 minutes ago, Todd_is_God said:

The gas they are buying from Algeria is still as expensive as the gas being bought by everyone from everywhere else, though.

It just isn't, the new price is still being negotiated. It's ok to be wrong sometimes Todd.

[Todd_is_God]

2 hours ago, welshbairn said:

It just isn't, the new price is still being negotiated. It's ok to be wrong sometimes Todd.

And it will be paid going forward at the current market price. It's ok to admit you have no idea about things, Welshy.

[welshbairn]

2 minutes ago, Todd_is_God said:

And it will be paid going forward at the current market price. It's ok to admit you have no idea about things, Welshy.

Still to be decided by negotiations, which will include the convenience of existing pipes from Algeria to Spain, via Morocco or not. And in the meantime Spain are still paying 2019 prices, and @Granny Danger hasn't noticed any difference in his electricity bills. Wouldn't you prefer Granny's energy bills?

[Todd_is_God]

23 minutes ago, welshbairn said:

Still to be decided by negotiations, which will include the convenience of existing pipes from Algeria to Spain, via Morocco or not. And in the meantime Spain are still paying 2019 prices, and @Granny Danger hasn't noticed any difference in his electricity bills. Wouldn't you prefer Granny's energy bills?

Well... yes. But, unlike you, I know why GD's bills have not gone up, and won't go up much if at all.

It's not because Algerian gas is not about to become much, much more expensive for Spain.

[GTG_03]

Boris Johnson has stated measures to help with energy bills are coming but won't be announced until the new PM is in place.

What an absolute coward of a man. 

Edited August 28, 2022 by GTG_03

[Granny Danger]

34 minutes ago, GTG_03 said:

Boris Johnson has stated measures to help with energy bills are coming but won't be announced until the new PM is in place.

What an absolute coward of a man. 

I think it’s more to do with giving Truss a ‘bounce’ in popularity when she comes in and looks like she’s doing something, but of course it still means the Tories trying to play politics with a deepening crisis.  FWIW I don’t think that approach will have as big a political impact as they might think.