keitha
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2024, hopefully the year I get out of P2P
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Post by keitha on Aug 10, 2022 14:28:07 GMT
Getting silly now
this is what MSE is saying
Oct 2022
Elec 52.3p kWh
Gas 15p kWh
Jan 2023
Elec 66.5p kWh
Gas 17.2p kWh
Apr 2023
Elec 65.7p kWh
Gas 18.8p kWh
July 2023
Elec 53.3p kWh
Gas 16.6p kWh
plus of course £1 per day in standing charges
Looking at January £4266 is 45% of the full state pension
Do the maths
State Pension £185.15 a week. £801 a month, £9620 a year £4266 for Gas and Electric leaves £5354 Take £1000 for council tax £4354 ( Lets assume the property is owned not rented (If it's rented then its much worse ) Take £500 for Insurance on the property Take £250 For Water Take £250 for a phone line Take £144 for TV licence that leaves £3,210 That's £60 a week to pay for food and other shopping, transport costs, presents for grandchildren for Christmas, Birthdays etc
Of course should the pensioner lack mobility then they will tend to have the heating higher as they feel the cold, and should they live in an older house with poor insulation.
In all seriousness this could be a disaster with hundreds of thousands of pensioners scared to use their heating, and at risk of ending up in hospital with hypothermia.
I posted before that the "worst case scenario" I was given for electricity prices when I got my solar panels was that by 2030 electricity would hit 30p kWh and 65p by 2040 never in my wildest nightmares did I see 65p in 2023.
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mrk
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Post by mrk on Aug 11, 2022 23:01:15 GMT
Here's another silly thing: I have no gas supply, and my electricity is supposedly "100% renewables". Does that mean I'm less exposed to price hikes due to gas shortages? Of course not, because all the electricity comes from the same grid. What's the point of having competition then?
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Greenwood2
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Post by Greenwood2 on Aug 12, 2022 9:35:31 GMT
I assume the price of heating oil has also gone through the roof?
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Post by mostlywrong on Aug 12, 2022 18:56:13 GMT
I assume the price of heating oil has also gone through the roof?
Just under 90p/litre which is an increase on a year ago but nowhere near the giddy heights of March.
Boilerjuice.com has the data:
MW
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Greenwood2
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Post by Greenwood2 on Aug 12, 2022 19:20:20 GMT
I assume the price of heating oil has also gone through the roof?
Just under 90p/litre which is an increase on a year ago but nowhere near the giddy heights of March.
Boilerjuice.com has the data:
MW
That looks quite good, maybe living in the sticks is not so bad energy wise.
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Post by mostlywrong on Aug 12, 2022 19:28:39 GMT
Here's another silly thing: I have no gas supply, and my electricity is supposedly "100% renewables". Does that mean I'm less exposed to price hikes due to gas shortages? Of course not, because all the electricity comes from the same grid. What's the point of having competition then?
There has been a long game of politicians fiddling in markets where they shouldn't.
If I am correct, Ed Miliband and Ed Davey both decided to attack the Big 6 energy companies that had "cornered" the energy market. Now, I could argue that 6 large energy companies competing with one another in a single open market is about as competitive as they come. But the Big 6 were regularly attacked by various politicians. Ed Miliband came up with the concept of increasing competition by imposing an energy cap. The Tories, desperate for another bright idea, grabbed the idea and ran with it. From about 2015, OFGEM allowed virtually anybody and his dog to set up an energy company. And they did. Lots of little companies bought energy on the world markets and flogged that energy to the UK retail and business trade, usually for fixed term packages. But buying and selling cheap energy was easy when energy prices were falling, primarily because the US market was being supplied with shale gas.
But, as the banking industry discovered in 2008, buying short and selling long only works for a while. The Big 6 have always hedged their purchases. The little boys didn't. And, as over 30 companies discovered last year, things can go wrong very quickly when you cannot cover your energy costs in a rising market because of the energy cap. OFGEM had to step in and pick up the bills (paid for by your standing charges) whilst negotiating the transfer of customers to a new company. As the list of failed companies grew longer, OFGEM could not persuade the remaining companies to step in and, I think, OFGEM is still responsible for a considerable number of customers including those of Bulb - which is not a small company. Now, the twist in the tale is that the Treasury does not allow OFGEM to hedge its purchases so, allegedly, OFGEM is buying the energy when it needs it. Ouch. This winter will be interesting.
And the Big 6? Well, Centrica is one of those and apparently only makes £6 pa per customer from its retail energy business. I don't think Centrica will fail but you can see why it has refused to accept any more customers from OFGEM! I also think that this meddling was behind the reason for the closure of the Rough gas storage facility. Centrica could not afford to maintain it under the conditions of the energy cap and asked the Government for help. The Government told Centrica to go away as energy could be purchased on the open market... and the rest is history.
I understand that the wider energy market is working pretty well. National Grid is buying LNG hand over fist, re-gassing it and shipping it to Europe for a profit. At the same time, NG. is also flogging electricity to the French who have been caught somewhat short. EDF is, apparently, in deep doo-doo.
But what do I know...?
MW
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Post by mostlywrong on Aug 12, 2022 19:34:43 GMT
Just under 90p/litre which is an increase on a year ago but nowhere near the giddy heights of March.
Boilerjuice.com has the data:
MW
That looks quite good, maybe living in the sticks is not so bad energy wise.
My tank holds 1000 litres. I burn roughly 1800 litres pa.
I filled up with 900 litres in Feb 22 for 59p/litre.
That should get me to October. The following fill should be in late Jan/early Feb.
Heaven only knows what I will be paying then!
The garage is now storing logs and a large number of those sticks...
And I am exploring the purchase of a large solar array and a heat pump.
So far, unsuccessfully...
MW
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scooter
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Post by scooter on Aug 12, 2022 22:40:24 GMT
That looks quite good, maybe living in the sticks is not so bad energy wise.
My tank holds 1000 litres. I burn roughly 1800 litres pa.
I filled up with 900 litres in Feb 22 for 59p/litre.
That should get me to October. The following fill should be in late Jan/early Feb.
Heaven only knows what I will be paying then!
The garage is now storing logs and a large number of those sticks...
And I am exploring the purchase of a large solar array and a heat pump.
So far, unsuccessfully...
MW
My panels generate almost exactly what I was told they would, from that point of view I would recommend them. I can do a washing machine cycle followed by a dishwasher cycle for nothing most days between March and october. What I find galling is the fact that the feed in tarrif I get paid has not changed at all in line with the increase in electric prices. It never gets a mention, ever, anywhere. I would get a battery, but last time I looked into it, I found out they didn't last very long before wearing out, so I didn't persue it. I would be interested to hear what the latest thinking is on batteries for solar. I also recommend Aldis heated throw👍
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keitha
Member of DD Central
2024, hopefully the year I get out of P2P
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Post by keitha on Aug 13, 2022 9:50:58 GMT
My panels generate almost exactly what I was told they would, from that point of view I would recommend them. I can do a washing machine cycle followed by a dishwasher cycle for nothing most days between March and October. What I find galling is the fact that the feed in tarrif I get paid has not changed at all in line with the increase in electric prices. It never gets a mention, ever, anywhere. I would get a battery, but last time I looked into it, I found out they didn't last very long before wearing out, so I didn't persue it. I would be interested to hear what the latest thinking is on batteries for solar. I also recommend Aldis heated throw👍 Feed in Tariff or SEG Many people still on FIT are getting assumed 50% generation export and around 30-40p KWH. Later FIT payments were lower SEG on the other hand is still silly low, I believe that some are still paying as little as 1.5P which is under 1/10 of the current average. As an example yesterday Octopus Agile export, which is basically wholesale price didn't drop much below 25p all day.
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michaelc
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Post by michaelc on Aug 13, 2022 12:49:19 GMT
Getting silly now this is what MSE is saying Oct 2022
Elec 52.3p kWh
Gas 15p kWh
Jan 2023
Elec 66.5p kWh
Gas 17.2p kWh
Apr 2023
Elec 65.7p kWh
Gas 18.8p kWh
July 2023
Elec 53.3p kWh
Gas 16.6p kWhThe average bill is meant to be going up several fold so several hundred percent. But the different between the lowest and highest in these figures is nothing like that. What have I missed ?
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Greenwood2
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Post by Greenwood2 on Aug 13, 2022 13:00:37 GMT
1 October 2021 to 31 March 2022 UP 12%. Meaning someone on typical use paid £1,277/year.
THE CURRENT RATE
1 April 2022 to 30 September 2022 UP 54%. £1,971/year on typical use.
1 October 2022 to 31 December 2022 Strong prediction UP 42% based on what regulator Ofgem said in May. £2,800/year on typical use. It has recently said this now seems an underestimate. UP 70% according to the latest prediction (Tuesday 2 August) from analysts at Cornwall Insight. £3,359/year on typical use.
1 January 2023 to 31 March 2023 Prediction UP 8% based on Cornwall Insight predictions. £3,616/year on typical use.
1 April 2023 to 30 June 2023 Weak prediction UP 3% based on Cornwall Insight predictions. £3,729/year on typical use.
1 July 2023 to 30 September 2023 Weak prediction DOWN 4% based on Cornwall Insight predictions. £3,569/year on typical use.
(1) The prepay price cap is about 2% higher, and for those who pay each month after getting a bill, 7% higher. That differential will likely continue.
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Greenwood2
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Post by Greenwood2 on Aug 13, 2022 13:09:17 GMT
Getting silly now this is what MSE is saying Oct 2022
Elec 52.3p kWh
Gas 15p kWh
Jan 2023
Elec 66.5p kWh
Gas 17.2p kWh
Apr 2023
Elec 65.7p kWh
Gas 18.8p kWh
July 2023
Elec 53.3p kWh
Gas 16.6p kWhThe average bill is meant to be going up several fold so several hundred percent. But the different between the lowest and highest in these figures is nothing like that. What have I missed ? April 2022Gas Unit rate: 7.37p per kWh Standing charge: 27.22p per day Up to March 2022Unit rate: 4.07p per kWh Standing charge: 26.12p per day April 2022Electricity Unit rate: 28.34p per kWh Standing charge: 45.34p per day Up to March 2022Unit rate: 20.8p per kWh Standing charge: 24.88p per day
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Post by Ace on Aug 13, 2022 13:49:34 GMT
My panels generate almost exactly what I was told they would, from that point of view I would recommend them. I can do a washing machine cycle followed by a dishwasher cycle for nothing most days between March and October. What I find galling is the fact that the feed in tarrif I get paid has not changed at all in line with the increase in electric prices. It never gets a mention, ever, anywhere. I would get a battery, but last time I looked into it, I found out they didn't last very long before wearing out, so I didn't persue it. I would be interested to hear what the latest thinking is on batteries for solar. I also recommend Aldis heated throw👍 Feed in Tariff or SEG Many people still on FIT are getting assumed 50% generation export and around 30-40p KWH. Later FIT payments were lower SEG on the other hand is still silly low, I believe that some are still paying as little as 1.5P which is under 1/10 of the current average. As an example yesterday Octopus Agile export, which is basically wholesale price didn't drop much below 25p all day. I currently get a FIT payment of 62.36p for every KWH I generate, regardless of whether I use it or export it. That's 60.23p for each KWH generated plus an assumed 50% export at 4.25p.
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scooter
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Post by scooter on Aug 13, 2022 23:14:17 GMT
My panels generate almost exactly what I was told they would, from that point of view I would recommend them. I can do a washing machine cycle followed by a dishwasher cycle for nothing most days between March and October. What I find galling is the fact that the feed in tarrif I get paid has not changed at all in line with the increase in electric prices. It never gets a mention, ever, anywhere. I would get a battery, but last time I looked into it, I found out they didn't last very long before wearing out, so I didn't persue it. I would be interested to hear what the latest thinking is on batteries for solar. I also recommend Aldis heated throw👍 Feed in Tariff or SEG Many people still on FIT are getting assumed 50% generation export and around 30-40p KWH. Later FIT payments were lower SEG on the other hand is still silly low, I believe that some are still paying as little as 1.5P which is under 1/10 of the current average. As an example yesterday Octopus Agile export, which is basically wholesale price didn't drop much below 25p all day. Yeah, I meant SEG, sorry.
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sqh
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Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Aug 16, 2022 8:17:00 GMT
I would get a battery, but last time I looked into it, I found out they didn't last very long before wearing out, so I didn't persue it. I would be interested to hear what the latest thinking is on batteries for solar. I also recommend Aldis heated throw👍 I'm also wondering if a battery system is feasible. My panels produce very little excess power in winter and my electric bill for Mar-Oct is c.500 units. I could save all those units with batteries but the system cost doesn't justify it. If the unit price hits £1, I would reconsider. What does make sense is an Immersion heater diverter. My Solic 200 has repaid itself several times over.
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