Energy Suppliers, Suppliers of Energy. Gas / Electric

Surely the cap will be set above the market price?

That is shocking!

I’m sure you’re aware but if not all suppliers as a condition of their license to supply gas/elec have to offer the variable tariff at all times. Doesn’t mean they have to make it easy… however if they refuse to sell you a variable tariff I’m sure the energy ombudsman would be interested in hearing about it.

Yes, market rate from previous 6 months but this is slightly offset from when the cap comes in. April price cap = Feb announcement = Jan decision, so will be based on July21-Jan22 prices if things follow their normal pattern. However given prices seem to be jumping around by £150/day at the moment who knows if it’ll be normal process this year. Govt may step in if it’s not seen as politically expedient to raise prices that much especially with inflation but who knows at this point. Plus the industry levies that can be added to prices to help those suppliers who took on extra customers as we’ve had so many suppliers exit the market. May mean a hefty price bump

For context £150/day is almost double what the going rate was in summer 2021 for a unit of energy… so things have gone crazy!

Thanks.

Need an electricity supplier (district heating, no gas).

Missed that bit TBH. Are you on one of the Ground Source Heat Pump systems for flats and council estate properties?

Ex council or still social housing. I'm not bothered but it seems like a Large Estate System.

Any links to why electricity prices are going up? Everything I’ve read is about gas, low supplies, Russia holding back, increased demand etc

Any links to why electricity prices are going up? Everything I’ve read is about gas, low supplies, Russia holding back, increased demand etc

Gas is used to power electrical plants as well as coal, nuclear and renewables.

Got to burn something to make the generators spin...

Pretty much still that. Last winter/earlier this guest saw a huge spike in demand of LPG in Asia due to a cold winter in China and economic bounce back following various lockdowns in the region. This meant supplies were diverted there, and Europe (not just U.K.) weren’t able to refil their strategic suppliers leaving them at the lowest levels for many years. This has meant Europe hasn’t been able to help stabilise prices across the bloc by releasing supplies as required, and the U.K. is no exception.

Throw into that Russia playing politics with Nordsteam2 with Germany and they are simply fulfilling their existing contractual obligations whilst making a killing selling any extra to the highest global bidder.

The U.K. suffered a number of failures to supply across the summer, most notable was the fire at a substation in Calais/Dover which knocked out 50% of capacity with power sharing through France. Mitigated a bit by a new connection to Norway but not quite the same capacity. Wind was also down over the summer, which impacted U.K. energy supply and demand didn’t drop further pushing demand for gas.

We’ve had a warmer winter so far, but if we get a “Beast from the East” storm in the late winter across Europe that’ll put more pressure on prices, and that’s not out of the realms of possibility given the chaotic start to the year across Americas.

Gas still plays the biggest contribution to U.K. energy production. Renewables are getting there but we’re in the transition phase where it needs investment now, but the payoff will be in the future so it’s been slow.

Reasonable summary here: https://www.euronews.com/amp/2021/10/28/why-europe-s-energy-prices-are-soaring-and-could-get-much-worse

U.K. is still part of the European grid and as it’s a global market the same reasons are true for the U.K. as for the EU

Eh... We are using about 50% gas turbines to generate electricity, 25% renewable, nuclear 12%, coal about 1%.

The missing 11% is imported from France or Norway via undersea cables.

And now that we don't want China to build our next generation of nuclear plants we are a bit screwed.

Kind of the importance of developing Fusion rather than Fission. Always on but with less shit to bury underground for hundreds of years.

Do they set the market rate twice a year? April/October?

OFGEM? Yes currently. Announced in Feb/Sept to take place in April/Oct

one of the proposals that seems to be floating around is for more regular changes to smooth out and increases.

Cheers 👍🏽

Yeah, they're apparently putting ground source in to replace/support the existing DH network.

Thanks so much for the meter readings you sent us on 22nd November. It looks like we were overestimating how much energy you were using each month. Based on your latest meter readings and lower than estimated usage, we've credited £246.03 back into your Bulb account this month.
Your account is now £490.00 in credit. We've attached your statement with more detail.

bulb mail today.

my green ways and no central heating is working wonders

my green ways and no central heating is working wonders

Actual footage from casa dicki:

people who say they're putting the heating on in late summer cause it's dropped to 18C, then complain how big their bill is

. >>>>>>>>>>>>>>>>>>>

to be fair i do have radiators off the walls and no pressure in the system, so it actually isn't working

but i reckon only a couple of days in nov made me wish i had it functioning

and you find ways around it

My thermostat is set at 17.5C. My heating bills are still through the roof. Not entirely sure how I'm going to fix that.

Are you on variable already? If so I guess that's expected. If not, well, fuck.

Not looking forward to our deal ending in march next year.

Yes, already on variable but also suffer from old house, end of terrace and radiators that I reckon are too small for the rooms.

get the doors and windows open and let that lovely warm air in peeps, gonna be sultry for the next few days too

I'm with British gas and my fixed contract ends this month. Got the letter urging me to fix again (at 2.3x!!!!) Or face going on to the variable rate (at 1.4x). Am I right in thinking that I should just stick with the variable and look again in March before the price cap ends or should I switch to the 2.3x because anything offered later could be worse? I think Scottish Power might have a fixed deal that's only 1.5x, but would need to look again.