Energy Bills

[Demitri_C]

13 hours ago, Xela said:

They won't. Back to the old days where a foreign holiday was a pipe dream for people. 

Yeah when i was a kid we were lucky if we would get one holiday year tops and it would be to cyprus stuck in the village in 40c heat with nothing to do 

[Rds1983]

1 hour ago, Demitri_C said:

Yeah when i was a kid we were lucky if we would get one holiday year tops and it would be to cyprus stuck in the village in 40c heat with nothing to do 

Never realised you were from Yorkshire Dem... 

 

[turvontour]

Again, the rediculous thing about these £6k projections is that they're no where near the reality of it. It's about £8-9k a year now from next April mid summer based on live market. These announcements are delayed.

It has to be interrupted but I'm not sure how, we've committed to this market and it's broken.

[Brumstopdogs]

What are people doing then in terms of staying on variable or fixing?

Doing a bit of research (based on our current usage) there is an approx £400 a month fix for a year from 31/08/22 out there although you have to take 2 of the other services the company offers (for example SIM contract / broadband etc)

Feels mad to even consider it but in some ways would be nice to not have to worry about unknown increases for a year even if it will be a struggle to pay the above.

Edited August 27, 2022 by Brumstopdogs

[markavfc40]

1 hour ago, Brumstopdogs said:

What are people doing then in terms of staying on variable or fixing?

Doing a bit of research (based on our current usage) there is an approx £400 a month fix for a year from 31/08/22

So that is £4800 over a year. There is currently mounting pressure on the government from Labour/Lib Dems/parts of the media/energy companies themselves/numerous charities etc to ensure the price cap is fixed at its current rate for the next year which is just over £1900 for average usage. Whilst the useless bastards governing us may not go that far my guess is that they are going to have to put something in place which will see your average Joe paying no more than 2.5k - 3k.

Edited August 27, 2022 by markavfc40

[foreveryoung]

Heat pumps are the best source of efficient heating I get it, but how long is it going to be til that £20k+ gets paid off by the savings, 10-15 years. Not worth it for me, I have a top spec boiler at around a quarter of the cost of a heat Pump already paid for it's self.

Unless you a Eco bunny, it's all far too expensive at the moment.

[djdabush]

Really scary how little the average person seems to understand the issue. Every article I read has a comment section which blames the 'greedy suppliers' with very few realising it's the producers who are making the profits.

I just saw an article where Scottish Power are proposing to freeze the current cap for 2 years and the comments below are full of people who haven't read it angrily complaining that Scottish Power are proposing to freeze it after the price has risen again. Just read the headline and moan. When people don't bother to properly understand issues and just read whatever they want to believe it becomes so clear why we've had Brexit and a succession of terrible Tory governments.

[StefanAVFC]

We have a heat pump with no radiators, just pipes under the floor. 

The pump and installation was about 5 grand. New build house with plenty of insulation so I think we can probably pay it off with savings in about 5 years. 

[ender4]

2 hours ago, foreveryoung said:

Heat pumps are the best source of efficient heating I get it, but how long is it going to be til that £20k+ gets paid off by the savings, 10-15 years. Not worth it for me, I have a top spec boiler at around a quarter of the cost of a heat Pump already paid for it's self.

Unless you a Eco bunny, it's all far too expensive at the moment.

The way prices are going, you’ll save your £20k back in a year!

[Xela]

1 hour ago, djdabush said:

I just saw an article where Scottish Power are proposing to freeze the current cap for 2 years and the comments below are full of people who haven't read it angrily complaining that Scottish Power are proposing to freeze it after the price has risen again. Just read the headline and moan. When people don't bother to properly understand issues and just read whatever they want to believe it becomes so clear why we've had Brexit and a succession of terrible Tory governments. 

[CVByrne]

So my 2Y fixed rate ends in a couple of days. Energy Bills going to go up from, £1,557 to £6,520 based on my last years energy consumption.

That's if I fix again for 1 year. It's not worth it. Will just take the variable and the rises in Oct and Jan

[CVByrne]

 

[bickster]

 

[Genie]

Energy markets make the crypto markets look legit.

[lapal_fan]

16 hours ago, Genie said:

Energy markets make the crypto markets look legit.

MUCH of the price of energy is political.  Investors are so jumpy it's insane honestly. 

Think of it as a global version of bog roll panic buying. 

[tinker]

I might start my own energy company up with a generator I have in my shed. 

[Genie]

I was just reading the article on the BBC about the nuclear plant Boris is pushing for and pledging £700m of government money. 

They say it’ll be “hugely expensive” at around £20b. Or to put another way about 6 or 7 months of profits of just 1 oil extractor.

I also wonder how much £20b is versus the package needed to stop people freezing it starving to death this winter.

[ender4]

19 minutes ago, Genie said:

I was just reading the article on the BBC about the nuclear plant Boris is pushing for and pledging £700m of government money. 

They say it’ll be “hugely expensive” at around £20b. Or to put another way about 6 or 7 months of profits of just 1 oil extractor.

I also wonder how much £20b is versus the package needed to stop people freezing it starving to death this winter.

Isn’t this the nuclear plant they’ve been talking about building for the past 20 years?  The govt could have just spent the £20b 20 years ago and made that money back by now!

[Genie]

6 minutes ago, ender4 said:

Isn’t this the nuclear plant they’ve been talking about building for the past 20 years?  The govt could have just spent the £20b 20 years ago and made that money back by now!

Yes exactly.

Even if it’s not nuclear, £20b isn’t a lot in the grand scheme of things. Doing nothing is far, far more expensive.

Pick something, or things that gets us away from gas and oil and throw the kitchen sink at it. 

[sidcow]

31 minutes ago, Genie said:

I was just reading the article on the BBC about the nuclear plant Boris is pushing for and pledging £700m of government money. 

They say it’ll be “hugely expensive” at around £20b. Or to put another way about 6 or 7 months of profits of just 1 oil extractor.

I also wonder how much £20b is versus the package needed to stop people freezing it starving to death this winter.

What's ridiculous is that the UK have just opened Hornsea 2 windfarm, the largest windfarm in the world. Enough power for 1.6m homes.  Cost around £2.4bn.  You could build 10 of them for the same price as 1 nuclear power station powering 16m or nearly half of all UK homes...... For the same price as 1 nuclear power station. 

And the power then produced by those windfarms would be absolutely minimal, around 3 - 4 times cheaper than Nuclear.... And it will get cheaper as technology improves. 

And no worries about nuclear disaster or disposing of nuclear fuel. 

The wind doesn't blow all the time? No it doesn't but grid scale battery storage is here now.  And with cheap smart internet connected devices we can charge home batteries and power home devices in off peak times when the wind is blowing but no one is using electricity therefore evening up the load. 

How many solar arrays could you pay for with £20bn? How many home batteries? How many heat pumps? How many heat batteries? 

£20bn for just 1 but they want to build 8, so that's £160bn at today's prices. 

It's insanity. Investing in Nuclear right now is madness.  The alternative solutions are here now, they're getting cheaper and cheaper all the time.  By the time the first one is finished (they say 10 years, we all know it will be 20) it will be completely antiquated and too expensive yet the next 2 generations will be paying for it and living with the consequences. 

Mark my words, 20 years from now we will all have cheap fabulously efficient solar panels with enough battery storage to last days and wind power giving us incredibly cheap wind power with grid scale storage (assuming the millions of electric cars hooked up to the grid don't provide that anyway) 

Those nuclear stations will be decommissioned before they open because paying the get out clauses will save more money than paying the ludicrous power cost. 

Edited September 1, 2022 by sidcow