The Energy Crisis

[-DL-]

Thanks for the balanced reply.

And one not so balanced...

[smuts]

You are spot on about the supply companies. Phoning around about 4 years ago trying to switch my wife's business water bill from the woeful Castle Water (Thames Water flogged the business portion to them despite CW being totally under resourced to do it) was a real eye opener.

A few of the approved companies of the OFWAT website were definitely one person bands, etc. One I swear one of their kids answered the phone.

For allowing this to happen we're now picking up the tab.

[SammyLeeWasOffside]

Ill hit the bingo with test and trace plus covid loans for a full house because its spot on. as martin lewis has said this issue is becoming pandemic like. Everyone needs help and this is what governments are for in this situation. to help. they found the money during covid and will just have to find again. problem is with the tories the money they find seems to always find a way into helping one of their friends who have a company rather than the best company for the job. thats the issue and why everyone gets angry.

record profits for oil companies who need taxing to help pay for half this crisis. however apparently taxing them is a dirty word because we dont want them angry and refusing to invest in things...

You missed furlough of course.

Do you think because they found the money during covid might be a reason help available is more limited now? What about in 12 months time when we are in the teeth or a recession, more govt money needed? What do we stop funding or is it simply a case of taxing the pantomime villain de jour every time something crops up?

Everyone needs help - this is the part I have some issue with in this. Some people need a **** load more help than £400 or even £1600 but that was also true before inflation and energy prices. Do people on 30k+ really need help (yeah I know london housing is a bitch) or is it a case of changing priorities a bit. Do millionaires need £400 or could someone on NMW do with £800? My mum has been in a care home for years yet still gets the winter fuel payment, someone else needs that money more surely.

Who would be the best company the govt could select to sort this out?

Oil companies pay tax and are paying a windfall tax. I don't recall much sympathy for them when they were losing fortunes. We need boatloads of energy and we have to pay those that have it, nuclear and renewables wouldn't bring prices tumbling down either imo.

[mumbles87]

You missed furlough of course.

Do you think because they found the money during covid might be a reason help available is more limited now? What about in 12 months time when we are in the teeth or a recession, more govt money needed? What do we stop funding or is it simply a case of taxing the pantomime villain de jour every time something crops up?

Everyone needs help - this is the part I have some issue with in this. Some people need a **** load more help than £400 or even £1600 but that was also true before inflation and energy prices. Do people on 30k+ really need help (yeah I know london housing is a bitch) or is it a case of changing priorities a bit. Do millionaires need £400 or could someone on NMW do with £800? My mum has been in a care home for years yet still gets the winter fuel payment, someone else needs that money more surely.

Who would be the best company the govt could select to sort this out?

Oil companies pay tax and are paying a windfall tax. I don't recall much sympathy for them when they were losing fortunes. We need boatloads of energy and we have to pay those that have it, nuclear and renewables wouldn't bring prices tumbling down either imo.

i agree with a lot here.

furlough yes did miss for the full house.

whilst it will have made it harder to afford doesnt mean help should be less forth coming.

we have a gov more focused on infighting then fixing the issue. truss wants to cut taxes at a time when gov money is needed more than ever.. spread the wealth around rather than tax relief for the super rich and such. however moving away from this

I fully agree with means testing.

my grandfather is also in a home and well off he will get his winter fuel allowance. same as lord sugar (when he used to say how stupid it was)

its help in the wrong places that annoys me. for example "0% vax on energy effient products" so my order i placed i benefited from it.. saved £600.. now at normal times i agree 0% on these projects is what should be offered but during an energy crisis like this you are helping those who can afford it anyways rather than those who cant.. if that makes sense.

companies I dont know as of yet.. its best to get through the crisis first before you attempt to cure the symptoms .. lets fight the cause and address that before we attempt the smaller bits

I am a firm believer of a not for profit business model to manage public companies ..

but anyways there isnt a one size fit all approach but what we are getting from the top now is nothing short of just not good enough tbh. You would expect them to at least be starting working towards something rather than "nothing can be done until september when the next PM is in" then it will be oh its too late now we will focus on januarys price rise ..

[EvilC]

Means testing sounds great, it is just more expensive to administer.

[SammyLeeWasOffside]

Means testing sounds great, it is just more expensive to administer.

Full on means testing I agree but they could surely do something basic to shift the money where it would be more needed.

They are doing it with people on benefits, pensioners etc.

All these civil servants surely someone is up to doing a system slightly more complex than pay everyone the same

[smuts]

Eon £3.6billion profit so far this year. That'll go down well.

[EvilC]

Eon £3.6billion profit so far this year. That'll go down well.

If you are a div and want to read a headline and go mad, yes. EON's UK business accounts for around 5% of EBITDA.

[Billydinho]

If you give 70 million people a share of £3.6 billion younger like £50 each.

Taking their profits will help no one.

[smuts]

Trying to help my daughter get their energy provider sorted for her first flat and it's a nightmare. Previous supplier was British Gas who won't quote online and the phone number given says they can't deal with new customers at the moment. Eon won't quote etc.

The most exciting time of her life and she's going to be sitting in the dark.

[wolf359]

Trying to help my daughter get their energy provider sorted for her first flat and it's a nightmare. Previous supplier was British Gas who won't quote online and the phone number given says they can't deal with new customers at the moment. Eon won't quote etc.

The most exciting time of her life and she's going to be sitting in the dark.

I believe the existing provider has to connect by law. Who are they?

[EvilC]

Trying to help my daughter get their energy provider sorted for her first flat and it's a nightmare. Previous supplier was British Gas who won't quote online and the phone number given says they can't deal with new customers at the moment. Eon won't quote etc.

The most exciting time of her life and she's going to be sitting in the dark.

When you go to the flat, is there electricity and gas available, or is it cut off?

[smuts]

British Gas...online tells you to call them, when you do they say they are unable to deal with new customers at the moment.

Gas and electric is cut off.

Spoke to Octopus who at least have quoted.

[EvilC]

Have you tried Citizens Advice? Whilst this is an unusual situation, it can't be unheard of.

If the MPANs are registered to British Gas I strongly suspect they are obliged to supply, despite their protesting. Quite where you go from here depends on what the Octopus quote is like vs the price cap and how much time and effort you want to invest trying to resolve it. The path of least resistance is obviously going with Octopus.

[smuts]

I've contacted BG so hopefully they will respond pretty quickly.

Octopus answered the phone within about 2 minutes and were really helpful. Will probably go with them. Managed to get a quote off a few more and they all seem to be much of a muchness for them.

[EvilC]

Octopus are relatively slick, they have the advantage of not being the product of a legacy business that has old systems patched up and rolled into others and don't have people kicking around, waiting for their pension. They probably are the best available in terms of customer service.

[bonzosbeard]

Octopus are relatively slick, they have the advantage of not being the product of a legacy business that has old systems patched up and rolled into others and don't have people kicking around, waiting for their pension. They probably are the best available in terms of customer service.

I've been very happy with them.

[EvilC]

Translation of the below:
The US LNG terminal that had a fire in June, which meant the terminal shut, which pushed European gas prices higher, looks like it has revoked its force majeure notice. When FM (which is typically invoked due to acts of God or unforeseen circumstances- hurricanes or whatever) is invoked, this means that all bets are off with those that you are supplying. So essentially BP or whoever needs to go and buy in the market, where the price is likely to be higher.

However if this is not FM it suggests that Freeport has dropped a bollock (the fire was their fault) and it will now have to pay for the additional costs incurred by their customers. That could be a very large number indeed.

As someone said in the office, “oops”.

By Aysha Diallo
(Bloomberg) -- Freeport LNG has retracted the force majeure
that it first declared after an explosion in June, Reuters
reports, citing a document it has seen and three trading
sources.
* Freeport declared force majeure on June 9 and retracted the
notice around end-June
* Force majeure allowed buyers of Freeport’s liquified natural
gas to exit their own delivery agreements to end users without
penalty; retraction could mean they face billions of dollars in
collective losses
* Buyers said to include BP, TotalEnergies and Osaka Gas
* Freeport and the buyers declined to comment to Reuters
* NOTE: Freeport Declares Force Majeure on LNG Shipments Until
September


To contact the reporter on this story:
Aysha Diallo in New York at adiallo63@bloomberg.net

[mumbles87]

Evilc (or anyone else who knows)

Vat cut on energy bills has come up again

Will this actually help people on the price cap?

On the face of it ofc it will because less payment however the price cap is a set limit the energy firms can charge, if the gov say ok no vat can't the energy firms just still charge the maximum but more money goes to them with none going to the government?

[EvilC]

I believe the price cap is pre-VAT, I’m not certain on that though.

I’m underwhelmed by this government but even I can’t imagine they’d f*** something like that up.