Energy Prices

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begeegs
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Energy Prices

Post by begeegs »

Hi All

I am curious to know anyones thoughts about the energy prices and put some information out there as well.

As you know, Ofgem did approve the energy price hike which is about an 80% price hike which kicks in October 1st. Contrary to what politicians and the news are saying about it, this didn't start with Russia/Ukraine, but around June/July last year and has only gotten worse. Also, only 3% of our natural gas comes from Russia, so this also doesn't really tally up.

According to the ONS, our gas consumption has actually gone down since 2010 to 857,000 Gwh in 2021 (from 1,082,229). Interestingly, from these statistics, it does say that the production peaked in 2000 and has steadily decreased since, but the population has increased by 6.3%, so I am wondering if this is the real reason behind the price increases. Possibly, but I found something which dirties the water a bit more

So why the drop off in gas/oil production - well.....https://assets.publishing.service.gov.u ... e_2022.pdf)
In this doc, it states a few things which are worrying, but there was something which stuck out for me - Energy production fell on the same period last year, mainly due to primary oil production which has not fully recovered following summer 2021 maintenance on the UK’s Continental Shelf
What's this? It looks like the UK decided that it is going to start decommissioning Oil and Gas Installations and pipelines in accordance to OSPAR. OSPAR are 15 countries committed to protecting marine life in the North-East Atlantic. This was in the UKs own guidance notes - The Guidance Notes are largely unchanged from the 2009 version with the founding principles enshrined in the UKs commitment to OSPAR Decision 98/3 and its requirement that all installations should be completely removed unless a derogation is granted.

To sum up - in OSPAR, in 1998 agreed to dismantle these installations and the UK began dismantling their own installations in 2021. (https://www.ospar.org/news/scm-21). The kicker in the UK guidance notes about this is the following - 'The powers set out in section 29 of the 1998 Act aim is to ensure that those who have benefitted from the exploitation or production of hydrocarbons bear the responsibility for decommissioning. In this way the taxpayer is protected from having to fund decommissioning.' The date of the OSPAR meeting was November 2021.

My thinking about this is that scarcity brings prices up and also providers almost never eat expenses which are government directives - they are almost always passed to the consumer, so that is what is likely happening in the UK - a combination of eating costs for dismantling the existing infrastructure and energy scarcity as well as these companies needing to turn a profit for their shareholders.

But is much much easier to say - because Putin because it gives cover to ridiculous policies. Let's dismantle sources of energy without adequate replacements.

The question is why they are doing this? I haven't read all of the documents in full, but if I were to hazard a guess, I would say that it is Net Zero which is the source. This is the thought that humans create climate change which is another point of contention.

This is getting long now, so I will close for now :-)

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goonersid
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Re: Energy Prices

Post by goonersid »

Sweet Lord Jesus Fucking Christ! :shock: :lol:

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begeegs
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Re: Energy Prices

Post by begeegs »

goonersid wrote:
Tue Sep 06, 2022 8:59 pm
Sweet Lord Jesus Fucking Christ! :shock: :lol:
Care to elaborate? :lol:

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StuartL
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Re: Energy Prices

Post by StuartL »

begeegs wrote:
Mon Sep 05, 2022 7:30 am
Hi All

I am curious to know anyones thoughts about the energy prices
They are too high :rubchin:

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OneBardGooner
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Re: Energy Prices

Post by OneBardGooner »

Source BBC: (18/9/2022)

Cost-of-living payments

Despite household bills and prices in the shops going up, for some households there is some help on the way.

People on disability benefits will receive a one-off cost-of-living payment of £150 from 20 September.

More than eight million low-income households on means-tested benefits will also receive £324 - the second instalment of a cost-of-living payment - this autumn. The first instalment of £326 was made in July.

Those on tax credits have had to wait longer, as the first payment for most was made between 2 and 7 September, and the second will be made during the winter.

How will I get the cost-of-living payments?

Who is getting the cost-of-living payments and when?


Two payments totalling £650 are being made to more than eight million low-income households who receive the following benefits:

Universal Credit
income-based Jobseekers Allowance
income-related Employment and Support Allowance
Income Support
working tax credit
child tax credit
pension credit

The first instalment of £326 was paid to about seven million of these people between 14 and 31 July. The payments were made automatically into bank accounts - usually marked "DWP Cost of Living".
The 1.1 million people who only receive tax credits, rather than any of the other benefits, have had to wait longer.

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begeegs
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Re: Energy Prices

Post by begeegs »

OneBardGooner wrote:
Sun Sep 18, 2022 9:10 am
Source BBC: (18/9/2022)

Cost-of-living payments

Despite household bills and prices in the shops going up, for some households there is some help on the way.

People on disability benefits will receive a one-off cost-of-living payment of £150 from 20 September.

More than eight million low-income households on means-tested benefits will also receive £324 - the second instalment of a cost-of-living payment - this autumn. The first instalment of £326 was made in July.

Those on tax credits have had to wait longer, as the first payment for most was made between 2 and 7 September, and the second will be made during the winter.

How will I get the cost-of-living payments?

Who is getting the cost-of-living payments and when?


Two payments totalling £650 are being made to more than eight million low-income households who receive the following benefits:

Universal Credit
income-based Jobseekers Allowance
income-related Employment and Support Allowance
Income Support
working tax credit
child tax credit
pension credit

The first instalment of £326 was paid to about seven million of these people between 14 and 31 July. The payments were made automatically into bank accounts - usually marked "DWP Cost of Living".
The 1.1 million people who only receive tax credits, rather than any of the other benefits, have had to wait longer.
It's good to read that the taxpayer is subsidizing energy company profits because I wouldn't be able to sleep tonight worrying about the poor poor shareholders. :?

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OneBardGooner
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Re: Energy Prices

Post by OneBardGooner »

I know mate, I know.

Thatcher the Tory Slaaaaaag and her cohorts have much to answer for. Thing is when they privatised the Utilities, un-employments was at record a high with the majority just trying to survive (much like now), so only the (already) well off could buy shares. It would be interesting to know how many Politicians/ MP's and those in the House of Lords have shares.


I doubt that kind of information is available to the public domain, I'll have to contact Mark Thomas see if he knows or can find o

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DB10GOONER
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Re: Energy Prices

Post by DB10GOONER »

News story the other day here in Oireland about a couple of business that have seen their August energy bills of 6k morph into 20k bills for September. What the actual fuck. And this is from energy companies that are all making record profits. Our lying corrupt criminal bastard politicians just sit idly by while hard working people get fucked in the ass. :censored:

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goonersid
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Re: Energy Prices

Post by goonersid »

I don't really give a shite about these things,
the war in ukraine, inflation, interest rates, minimum wage, global warming, oil prices, petrol and diesel prices, alcohol units per week?
Why?
Cos we can't do a single thing about it, other than don't buy it.
It's always been like this, constant warnings that if you dare enjoy yourself you are fucked!
As long as you have your health, everything else is irrelevant!
Stop worrying about shite!

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StuartL
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Re: Energy Prices

Post by StuartL »

goonersid wrote:
Tue Sep 27, 2022 9:03 pm
I don't really give a shite about these things,
the war in ukraine, inflation, interest rates, minimum wage, global warming, oil prices, petrol and diesel prices, alcohol units per week?
Why?
Cos we can't do a single thing about it, other than don't buy it.
It's always been like this, constant warnings that if you dare enjoy yourself you are fucked!
As long as you have your health, everything else is irrelevant!
Stop worrying about shite!
It’s an argument that has its merits Sid - so many things out fo our control, that you just can’t affect, so don’t let it bother you

But there is a huge draw back, a lot of people have to pay out far more than they can afford, where they were already struggling.

petrol prices up
food prices up
Electric prices massively increased
Increased interest rates will mean higher mortgage payments and rents too

I’m fairly lucky, both me and my partner are working, not rich by any means, but can just about absorb these increased prices, without too much sacrifice, but it may mean next year we forgoe a luxury holiday ( this years is nearly paid for, thankfully) and have a uk break, no big issue.

What it will also mean is that I won’t be changing my car any time soon, as I will have little money to put aside.

Less nights out, meals out, etc, etc which will all impact on the small businesses that have just suffered the most in the last 2 years and will end up going bust, meaning more empty shops / pubs / restaurants and more unemployed.

Does a struggling mum looking after kids eat or put the heating on ?
For some it’s a very real struggle

The Rich get richer as the poor struggle or die.

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OneBardGooner
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Re: Energy Prices

Post by OneBardGooner »

goonersid wrote:
Tue Sep 27, 2022 9:03 pm
I don't really give a shite about these things,
the war in ukraine, inflation, interest rates, minimum wage, global warming, oil prices, petrol and diesel prices, alcohol units per week?
Why?

Cos we can't do a single thing about it,
other than don't buy it.
It's always been like this, constant warnings that if you dare enjoy yourself you are fucked!

As long as you have your health, everything else is irrelevant!

Stop worrying about shite!
I agree about the stop worrying about shyte etc Sid, worrying Never Solved Anything...BUT when you say "we can't do a single thing about it". That is where I disagree, especially when it comes to things like these Energy Increases.

There are a number of factors; one of them being the invasion of Ukraine by Putin the Pedo (allegedly). btw: He and his cohorts have been planning it for nigh on 10 years, the global financial problems caused by the Pandemic was a means by which they could bring their plans forward; they knew that many of the European countries depended on them for high %'s of Gas & Oil and so when they invaded they (again) knew that they could hold many countries to ransom, because if they stopped supplies it would cause not only hardship but chaos in the financial markets; which is precisely what has happened.
Another factor in all this (and this really grinds my shyte) Is that it is the Tories who are currently in power and from what I can tell they have Totally Fucked Up in the way they have done this weeks mini-budget.
The rich get away Scott-free and guess who are the majority share holders in the utilities market - Tories and the fucking rich!... Aaaand who was it that Privatised Gas, Electricity and Water - That evil Slag Thatcher and her cunting cronies...

As to what we as individuals and as a collective (yeah! Right! :roll: ) might do about these increases is to Lobby their councillors, especially their MP's. Bombard the fuckers with phone calls, e-mails, texts, letters to the point where if an MP regardless of their party is being plagued every moment of every day; they Will start complaining not only to the party whips but to the Chancellor, the PM because they know that unless something is "Done" they will be fucked in the next election and they just might have to go out and work for a living like the test of us.


So we CAN do something as individuals, it just depends on each individual and whether they are willing to get up off their lazy backsides and Act!.

:proudtosay:

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