Energy bill price cap predicted to go to £3850 - 3 x what it was a year ago

[cakeorwine]

There is an AIBU here - but really it's posting for traffic

Russia is having 'maintainance issues' so has reduced the gas flow to Europe to a low level.

Gas prices have soared again.

Price cap prediction - £3850 - about 3 x what it was a year ago.

This is going to affect all of us

www.theguardian.com/money/2022/jul/27/uk-energy-bills-forecast-to-hit-3850-pounds-russia-cuts-gas-supply-further-europe-pipeline

Remember the old gasometers

Yup. we had the same with British Gas.

We had an issue with our smart meter, so it was replaced in June and reset to 0. Because I'd had CONSTANT issues with these thieves at British Gas, I'd paid off any balance so everything was reset to £0.

I've been paying £85pm for gas and £87pm for electricity in June and July.

Looking at the smart meter, in July (as of last week), I had used £13 in gas and £55 in electricity. They tried up to my bills to £135 for each, so £270 in total. When I queried it with them, they said they hadn't looked at my smart meter readings, they had simply added on 64% to the bill which would be in effect from 01.08 - TWO MONTHS BEFORE THE PRICE RISES.

I pointed out that if I don't turn my heating on till November at the earliest, based on the fact that I'm currently in credit of about £70 with them, if I paid their "suggested" amount, I would be nearly £450 in credit before winter even starts.

I've told them to keep it as is, and then I'll just make top up payments weekly/fornightly based on my smart meter usage.

It the energy producers that are making £££.

However, we all buy energy from energy retailers who must pay the market rate for it then sell it onto us with about a 5% uplift.

Some are one and the same (e.g. Shell) but other retailers don't produce energy at all, but simply resell it (e.g. Octopus, I think).

data.worldbank.org/indicator/NY.GDP.MKTP.KD.ZG?most_recent_value_desc=true

Uk wasn’t the worst performing economy in the G20.

I did read that we only import 3percent from Russia? I don't really understand it all to be honest though.
I just know our bills have gone up a lot and worry about how people will manage this year. It's all grim.

I am seriously going to be destitute. I can't believe this is being allowed to happen - especially considering the profits the energy companies are making. This government is an utter failure and I hope they are thinking about doing something drastic because civil unrest can't be far away. It's disgusting.

I was just thinking about this in the context of homes but yes you are right. So many other elements to this to consider.

Germany is basically looking at rationing gas. It’s incredibly serious across europe. Extremely worrying.

Gross mismanagement and a distaste for nuclear power have brought us to this point - all of which was achieved and sealed before a Brexit referendum was a twinkle in Cameron's eye.

I'm as concerned as anyone else about the cascade of consequences of runaway energy prices but I do feel increasingly cynical about those who see it as another vehicle to chastise leavers for voting in the way they did.

Is this another round of schadenfreudecakeandwine? Because the role of Brexit is short change against the active factors propelling this shitstorm - and you know it.

distaste for nuclear power

This is a factor long term but there is already opposition to the planned new site being built from local communities

I knew someone who lived close to one of those huge round gas storage units and it was always up and down , but it has gone for good now.
I admit it's just something I've taken for granted that you turn a tap on the hob and gas comes out or put a plug in and things work etc. I can remember the 3 day weeks and the black outs in the 70s , it wasn't pleasant but I was only a little child and we just had to use candles and extra blankets. I hope we don't go back to all that. I'm sure the extra sale of these two things might cause a shortage.

I've said this before on another thread; we've spent three years being told to protect the vulnerable and the elderly. But these are the exact same people who need help to heat their homes.

You can almost guarantee that there will be an increase in deaths through pneumonia, bronchitis, hypothermia....people who have issues such as incontinence and need to have easy access to a washing machine/tumble drier will start to develop poor hygiene, which will have huge public health ramifications. But unlike Covid, you won't have Chris Whitty making daily press conferences talking about how this will destroy the NHS further.

Someone said earlier that where the fuck is Cobra. and this is a valid point, because quite frankly, the spiraling energy costs will literally affect every single person in this country. It may not be immediate from the 01 October, but it will bite, and it will bite hard.

I cannot understand why the government doesn't have a sense of urgency about this.

Surely if people physically can't pay they can't pay what are they going to do?? It's an unprecedented situation. Something needs to be done urgently but I won't hold my breath.

I just double checked OECD forecast for UK was 5.1% it actually grew 7.1% in 2021- that was in the first half of last year. I would be cautious with taking forecasting as read. Forecasts later in the year will be more accurate (i.e. in December).

The government will just tell us all we have the 400 extra ( some have had more than this too ) for each household and they will hope it's enough to get people through. It wasn't actually called a windfall tax by Rishi Sunak at the time , but it was. I doubt they will be tapping the energy companies for any more at the moment
Schools etc are not eligible for this ( I think I'm correct ) our burser already put out warnings about the increases in fuel months ago.
I can see the hot school dinners being scrapped and just a packed lunch being offered soon as well to cut down on oven usage. They will have to find ways around the rises I suppose
Not to mention food costs going up too

The U.K. has not invested in infrastructure for decades. Politicians have ducked energy questions for a long as I can remember. It will be at least a decade before the new nuclear station comes on stream.

We are a bloody island surrounded by wind and wave renewable energy and have failed monumentally to reap the benefits of it.

Another knock on effect of all this may be in increase in house fires because of an increase in the use of candles for lighting.

The EU suggested yesterday that gas usage should be cut 15% across the whole continent, apart from the islands that have no connection to the Nord Strom network, to support manufacturing industry.

I don't agree we should measure CO2 on imported goods. Although you can do CO2 accounting in multiple ways, you need to be sure each unit is being counted once. The easiest way to do this is to measure the CO2 where it is put into the atmosphere. The CO2 used to make something in China should be counted as part of China's consumption, regardless of where the item ends up.

The best way to reduce CO2 would be for all countries to put the same level of tax on each unit of emissions, then it won't matter where stuff is manufactured or consumed, it will always be the end-user who pays the cost.

The best way to cut usage is to keep putting it up : I know I sound cynical, but this could be part of the thinking here? Some then might invest in insulation or solar panels or wood burners, others will just turn it down or off or only on for a hour a day etc. buy indoor coats for their kids. Not use the washer as much and so on.
Some Businesses might shut for a day or two. School days reduced ?
Not sure what else people can do. My friend had solar panels fitted by the government, but not everyone wants them or is eligible for this.
Those working from home will lose out.

Because if we don’t, then we’re simply offshoring our emissions to other countries.

Offshoring doesn't matter, because if all countries don't (eventually) control CO2, what we do here won't make any difference.

Accounting for CO2 where it is generated is infinitely more practical, if accounting needs to be done as part of enforcing a global limit. If there isn't going to be a global limit, then any local limits are ultimately going to have been pointless, and it doesn't matter how or even whether you keep track of you own consumption.

He was hosting a party at Chequers when the Cobra meeting was held. So of course that was more important as he won't have access to Chequers soon.

It's the Cummings nudge theory in action I said this would happen back before Xmas so ordered a log burner which took until march to arrive at the supplier. It was also £400 dearer than his previous order he said. OH built a log store and split the cheeses we've around five tons. Our children who both have log burners did the same .

Russia,China and India are still building coal fired power stations. Does their CO2 productions magically hover just above their countries. Lets go back pre-industrial revolution then, kiss goodbye to all the products you have in your posession made from any oil products.

British Gas owners have just announced £1.34 Billion in PROFIT from the first half of this year!
Its beyond comprehension.

News article below -

news.sky.com/story/amp/energy-giants-shell-and-centrica-enjoy-soaring-profits-as-prices-rise-12660367

This is now being referred to as “greedflation” as the rich are getting astronomically richer while the poor are getting poorer.

These are essential services and should be state owned. I just hope our government and governments around the world address this shameless profiteering. That said I expect the global elite are all share holders!!!