Energy suppliers

It's going to be a very scary year for energy costs. Even scarier if you run a business as there are no price caps in the commercial world, only domestically. I don't really understand how both gas & electricity can have jumped so violently. Gas perhpas as we import so much but why has electricity jumped as well?
 
Similar story to above but what gets my goat is the "standing charges" are almost doubling. Wtf has that anything to do about the cost of energy? :mad::mad:
 
Pants said:
Similar story to above but what gets my goat is the "standing charges" are almost doubling. Wtf has that anything to do about the cost of energy? :mad::mad:
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My thought was that as the energy prices are capped they have to screw us all another way......
 
Pants said:
Similar story to above but what gets my goat is the "standing charges" are almost doubling. Wtf has that anything to do about the cost of energy? :mad::mad:
Click to expand...
I heard this raised the other day…the suppliers have to pay the increased cost of power themselves, plus such as increased taxes; wage settlements; increased fuel costs for all the vans and trucks out there; increased cost of all materials for construction and maintenance of the infrastructure etc - all feed into the increased standing charge.
 
Just checked our power usage and already we have passed the total charge incurred by us on Wednesday and estimate we will pass yesterday’s charges by 3pm. And though not unexpected it is still very shocking. My wife has told me to turn the heating down and have it switching off earlier.

We will be making some choices as a result of the hike in the cap, but we will not be making the very, very difficult choices that the poorest of us will have to make, and I fear for them.
 
Lord Tyrion said:
It's going to be a very scary year for energy costs. Even scarier if you run a business as there are no price caps in the commercial world, only domestically. I don't really understand how both gas & electricity can have jumped so violently. Gas perhpas as we import so much but why has electricity jumped as well?
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Heard that electricity has jumped as most of our electricity is produced via gas.
 
chellie said:
My thought was that as the energy prices are capped they have to screw us all another way......
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I believe the the standing charge is part of the price cap. Done on average usage it kept the price of the unit rising so much as it keeps "the average" users cost under the cap

However I do know the standing charge has risen because it's the cost to supply the energy and that has sky rocketed because firms have been forced to take on all the failed companies

Price cap costs the energy providers money as their paying more for the fuel (in the main) so being forced a million customers made a dent in their operating costs
 
SteveJay said:
Heard that electricity has jumped as most of our electricity is produced via gas.
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That's the case currently - as Nuclear production is currently affected by unplanned maintenance.
Gas would still be the major contributor to electricity production, though Wind and Solar are almost as much and increasing share. More importantly, W&S are produced domestically, where much/most gas is imported.
 
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I've got a close friend who works in the media and he's been looking into the energy crisis closely over the last 6 months or so, he's looking at the present rise of 54% of the price cap and seen how it is dragged a lot of those who were 'okay' financially towards having real issues and for those below that level it is a catastrophe however he's also looking towards October and he's said that it is going to be a blood bath. At present the expected hike is 29% however this was pre Ukraine etc and he's expecting that, unless something drastic changes in the coming months, it is far likely to be above the 54% we have just had. Given we cannot choose whether or not we use gas/electricity (although we can limit usage) he doesn't see how many people in our country are going to be able to keep the lights (and heating) on next winter. Really is scary stuff when you factor in the price of fuel, food, council tax etc etc.
 
I'm on a fixed tariff until end of May. Currently £171 in credit with a monthly DD of £82, had a look at the best price that I could be offered and it showed a monthly charge of £256.

Now I'm no mathematician but that's seems a lot more than a 54% increase
 
full_throttle said:
I'm on a fixed tariff until end of May. Currently £171 in credit with a monthly DD of £82, had a look at the best price that I could be offered and it showed a monthly charge of £256.

Now I'm no mathematician but that's seems a lot more than a 54% increase
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the 54% is on the variable rate. which is protected by the price cap

my cost yesterday was 4p (gas) and is now 7p (if I had stayed variable)

fixed is completely different, for example I fixed from today for 9.61p for a year... to protect me from Octobers rise


my electric is fixed until feb at 5.5p night 14p day.. the price of that fix deal now is 8.25p night 35p day

variable is 28p flat i believe
 
larmen said:
The profit margin doesn’t seem unfair. It’s the volume that makes those companies billions.
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If you notice tho that profit is under half what the vat is on it so the companies make a far bit but the treasury makes a lot more .. on something that's a basic need
 
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