The Energy Crisis

[bonzosbeard]

The gas price is down over 10% today for deliveries across the next year. This is ace news. It'll be interesting to see where it finds some support.

If you think it's good news then it must be. Would be nice if next winter was at least a bit cheaper than it is now.

[Jonah]

I'm betting the current price is the new norm.

[EvilC]

I'm betting the current price is the new norm.

There is no prospect of a return to old prices in the near future without Putin turning the taps on again. It is a matter of supply and demand.

[EvilC]

This is a reasonable idea. Something like this seems necessary. https://www.theguardian.com/money/2023/ ... eremy-hunt

For those asking about when new tariffs might come out - given the wild swings in price, if you take on a new customer you have to pay the firm that the customer was previously with a "market compensation charge" - which is shorthand for the difference between the price cap and the current market (which is a very large number indeed). In order for this number to shrink and make it viable, you'd need a period of somewhat stable prices.

Someone that knows a lot more than me thinks it probably won't happen until Q3. One of the other problems is that when someone does offer a tariff, they will be completely swamped with demand.

Given the size of the crisis an effective freeze on switching is probably reasonable. However at some point if competition doesn't return organically as and is prevented by the market switching chargethen OFGEM needs to consider changing it/replacing it/removing it as there is no point in having a dozen suppliers selling you the same thing at the same price.

[SammyLeeWasOffside]

This is a reasonable idea.

It does. It would need to be really well thought out and balanced though if the subsidy is paid for by higher bills for the rest of us.

[westham,eggyandchips]

The gas price is down over 10% today for deliveries across the next year. This is ace news. It'll be interesting to see where it finds some support.

Currently at (p/therm) 135.00

Most media outlets probably won't go near anything so positive as is there need for scaremongering and negativity.

It's lowest since Sept last year.

Positive news. I won't get too excited just yet though.

[S-H]

Positive news. I won't get too excited just yet though.

Go on son, nip to toilet for 5mins and enjoy yourself.

[Hummer_I_mean_Hammer]

Go on son, nip to toilet for 5mins and enjoy yourself.

Careful, Sendo might be in there hogging the whole cubicle.

[S-H]

Careful, Sendo might be in there hogging the whole cubicle.

[SammyLeeWasOffside]

Are these monitors that come with smart meters any use at all.

Mine goes up and down at a ridiculous rate while seemingly we don't alter the current usage. In the last 20 minutes our usage has jumped from 3p an hour to 14p, back to 4p then up to 11p. All while not switching anything on or off.

[Johnny Byrne's Boots]

Are these monitors that come with smart meters any use at all.

Mine goes up and down at a ridiculous rate while seemingly we don't alter the current usage. In the last 20 minutes our usage has jumped from 3p an hour to 14p, back to 4p then up to 11p. All while not switching anything on or off.

Fridge or freezer?

[SammyLeeWasOffside]

Yes both

[mumbles87]

Are these monitors that come with smart meters any use at all.

Mine goes up and down at a ridiculous rate while seemingly we don't alter the current usage. In the last 20 minutes our usage has jumped from 3p an hour to 14p, back to 4p then up to 11p. All while not switching anything on or off.

Fridge and freezer compressor kicking in the cutting of again

If you move away from price and look at usage

34p is 1kwh

So when it was 3p you were using 0.1kwh
When was 4p you were using 0.12kwh
14p was 0.41kwh
11p was 0.33 kWh

So when you look at it was bearly any change

[SammyLeeWasOffside]

Thanks chaps

[Bend it like Repka]

So what is going on with food prices?

At Asda last weekend some of my regular buys, that have been steadily going up, took a significant leap.

For example the fruit juice I but went from £1.40 to £1.70. Ham went from £2 to £2.50. There were others that were quite significant.

I was pretty surprised as over the last month fuel prices have started to fall, yet thing were being hoiked 20%+

Why?

[Johnny Byrne's Boots]

Yes both

They'll switch themselves on and off at random intervals and use a decent chunk of electric.

[Johnny Byrne's Boots]

So what is going on with food prices?

At Asda last weekend some of my regular buys, that have been steadily going up, took a significant leap.

For example the fruit juice I but went from £1.40 to £1.70. Ham went from £2 to £2.50. There were others that were quite significant.

I was pretty surprised as over the last month fuel prices have started to fall, yet thing were being hoiked 20%+

Why?

If you still bought any of them that's your answer.

[Baron Von Marlon]

So what is going on with food prices?

At Asda last weekend some of my regular buys, that have been steadily going up, took a significant leap.

For example the fruit juice I but went from £1.40 to £1.70. Ham went from £2 to £2.50. There were others that were quite significant.

I was pretty surprised as over the last month fuel prices have started to fall, yet thing were being hoiked 20%+

Why?

I’m convinced it’s been profiteering for a while now

[Denbighammer]

So what is going on with food prices?

At Asda last weekend some of my regular buys, that have been steadily going up, took a significant leap.
I was pretty surprised as over the last month fuel prices have started to fall, yet thing were being hoiked 20%+

Why?

So they can cut the prices in a few months and show yo what amazing savings your making on your weekly shop with Asda, the shoppers friend.

[EvilC]

So what is going on with food prices?

At Asda last weekend some of my regular buys, that have been steadily going up, took a significant leap.

For example the fruit juice I but went from £1.40 to £1.70. Ham went from £2 to £2.50. There were others that were quite significant.

I was pretty surprised as over the last month fuel prices have started to fall, yet thing were being hoiked 20%+

Why?

I am a long way from an expert on food prices but a lot of the energy costs take time to pass through the chain. A lot of fertiliser plants around Europe won’t have been running and Russia and Ukraine export a lot of certain kinds of food.