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Post by overthehill on Jan 10, 2023 9:36:58 GMT
So natural gas prices are back down to the same level as July 2021.
For how long are consumers going to be fleeced and ripped off by the greedy energy companies ?
Their profits wouldn't balloon when wholesale prices go up if they were only passing on rising costs. You couldn't find a more solid case of profiteering on a massive scale.
How long will we have to wait for electricity prices to be decoupled from gas prices ? Explain to me why electricity prices have gone up by the same amount as gas prices , yet only 15% of electricity generation is produced by gas. The system is rigged and again it is profiteering on a massive scale.
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Post by Deleted on Jan 10, 2023 10:29:19 GMT
buy EDF shares and benefit from your views
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Post by overthehill on Jan 10, 2023 11:27:17 GMT
buy EDF shares and benefit from your views
I leave those decisions to my fund managers apart from £5000 in UK shares where I try to beat them.
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registerme
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Post by registerme on Jan 10, 2023 11:41:18 GMT
So natural gas prices are back down to the same level as July 2021.
For how long are consumers going to be fleeced and ripped off by the greedy energy companies ?
Their profits wouldn't balloon when wholesale prices go up if they were only passing on rising costs. You couldn't find a more solid case of profiteering on a massive scale.
How long will we have to wait for electricity prices to be decoupled from gas prices ? Explain to me why electricity prices have gone up by the same amount as gas prices , yet only 15% of electricity generation is produced by gas. The system is rigged and again it is profiteering on a massive scale.
www.instituteforgovernment.org.uk/explainers/electricity-market
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jan 10, 2023 12:52:57 GMT
So natural gas prices are back down to the same level as July 2021.
For how long are consumers going to be fleeced and ripped off by the greedy energy companies ?
Their profits wouldn't balloon when wholesale prices go up if they were only passing on rising costs. You couldn't find a more solid case of profiteering on a massive scale.
How long will we have to wait for electricity prices to be decoupled from gas prices ? Explain to me why electricity prices have gone up by the same amount as gas prices , yet only 15% of electricity generation is produced by gas. The system is rigged and again it is profiteering on a massive scale.
This week, because the wind is blowing. Trouble is when it's not that number heads over 50%. For the year gas is 42%. You don't think the renewables benefit when they get a massive premium? You are right the market is broken but it's a complex picture needing long term solutions ... which won't be cheap.
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keitha
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2024, hopefully the year I get out of P2P
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Post by keitha on Jan 10, 2023 15:50:00 GMT
And don't forget to figure in the cost of the old Coal stations that are kept on standby, do people really think they can be fired up at a few minutes notice, I'd guess 24 hours or more.
Looking at solar as an example I am self sufficient 8 months of the year from last week of February to the start of the second week in November, a better aligned aligned array would probably give me 3-4 weeks more. however even in mid summer we have 6-8 twilight hours with no or practically no solar, I get round this with a battery, but that means I need excess solar to charge it. If you say the average UK house use 3kWh during the dark period ( and I know many use a lot more ) you have 29 million properties so that 87 million kWh of power that would need to be stored. if you say storage would cost £20 per kWh ( which compares to £200-300 minimum currently ) then that's £1,740,000,000. and you need sufficient extra solar to fill it during daylight. Of course you have wind to help, and that could be good in the winter but given people use more electricity in the winter you need plenty of that too. Then you get a still cold foggy day in the winter practically no solar and no wind then you still need gas or an equivalent.
Nuclear seems an obvious answer but many are opposed to it. Tidal a possibility but expensive
then we have the elephant in the room Currently I use 2,000 kWh of electricity and 10,000 kWh or so of gas, and have a petrol car. Based on a heat pump achieving a COP of 3 I need an extra 3,333 kWh of electricity for the heating I drive 12,000 miles a year at 4 miles per kWh that's another 3000 kWh If we go all electric I would use 4 times as much electricity over the year as currently, could the grid cope ? Of course if it gets really cold the COP of my heating will drop below the 3 to perhaps as low as 1.5 during the recent cold spell I was using 70kWh of gas a day, at a COP of even 2 that would mean an electricity demand 17 times more than I currently use
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Post by Deleted on Jan 10, 2023 16:05:13 GMT
insulate review your milleage modify your cooking technique excess wind looks like the basic real change, with power storage growth, h2 especially. H2 storage looks a very interesting area of research.
then consumption leveling, you grid probably is not used all the time and is designed for peak use rather than a smoothed curve life style changes are going to be required one way or the other whether climate change comes or not The grid will have to be modified and yes planning departments are going to have to take the grid into account as well as the water services which they historically have ignored leading to flooding if you thought that solving climate change was not going to effect you and your life style, you were wrong
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adrianc
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Post by adrianc on Jan 11, 2023 9:51:27 GMT
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mrk
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Post by mrk on Jan 13, 2023 11:11:50 GMT
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registerme
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Post by registerme on Jan 13, 2023 12:54:02 GMT
Interesting read, thank you.
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keitha
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2024, hopefully the year I get out of P2P
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Post by keitha on Jan 13, 2023 13:20:07 GMT
Interesting read, thank you. known that for a while it is somewhat aggravating when I can observe several turbines within a few miles of my house and they are regularly "OFF" apparently it is economics, get 5P per kWh with the associated wear and tear on the equipment or be paid 2P per kWh ( based on a prediction of what you would produce ) to have it turned off.
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Post by martin44 on Jan 13, 2023 20:03:34 GMT
buy EDF shares and benefit from your views i wouldnt.
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Greenwood2
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Post by Greenwood2 on Jan 13, 2023 21:03:08 GMT
I have been told by someone I think knows, that gas/electric prices are probably now locked in a bit in the future, because the chancy suppliers using the spot prices went out of business when the spot prices went up and the couldn't honour their contracts the 'sensible' providers contracts are now locked in for a while whatever the spot prices do. I wouldn't be surprised if some new suppliers come in again using spot prices with the same result and get bailed out again if things go wrong!
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mrk
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Post by mrk on Jan 13, 2023 21:47:23 GMT
I have been told by someone I think knows, that gas/electric prices are probably now locked in a bit in the future, because the chancy suppliers using the spot prices went out of business when the spot prices went up and the couldn't honour their contracts the 'sensible' providers contracts are now locked in for a while whatever the spot prices do. Bulb was one of those, and the government did the same after taking over. Why is this £6.5bn Bulb blowout still in the dark? (FT, November 23 2022) It seems a special kind of genius to take on a corporate collapse caused by failure to hedge out commodity price risk — only to fail to hedge out commodity price risk, sending the bill for your bailout soaring.
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agent69
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Post by agent69 on Jan 13, 2023 22:35:04 GMT
I have been told by someone I think knows, that gas/electric prices are probably now locked in a bit in the future, because the chancy suppliers using the spot prices went out of business when the spot prices went up and the couldn't honour their contracts the 'sensible' providers contracts are now locked in for a while whatever the spot prices do. Bulb was one of those, and the government did the same after taking over. Why is this £6.5bn Bulb blowout still in the dark? (FT, November 23 2022) It seems a special kind of genius to take on a corporate collapse caused by failure to hedge out commodity price risk — only to fail to hedge out commodity price risk, sending the bill for your bailout soaring.Must admit I'm struggling to understand why the tax payer needs to get involved in bailing out failed energy companies. All the government needs to do is set up a transitional arrangement whereby if your supplier goes pop you are automatically transfered onto an emergency (expensive) tariff until you sort yourself out another supplier.
If you chose to buy your energy from a cheap supplier with a Mickey Mouse business plan, why should everyone else suffer?
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