Energy costs for home

[noahrab]

most of the energy companies in Europe are regulated by their own governments, thats why companies like EDF are here in Britain.
The energy companies are not regulated in Britain and can raise their prices when it suits them.

EDF is nationalised.

They use nuclear.

They are currently 35bn in debt.

The French taxpayer picks up the tab.

[BCram]

EDF is nationalised.

They use nuclear.

They are currently 35bn in debt.

The French taxpayer picks up the tab.

Is this a better way to provide energy?

[islaydarkblue]

Is this a better way to provide energy?

Nicola and Wee Pat do not want anymore new nuclear power stations built in Scotland as they both think that the wind turbines and solar panels will keep the lights on in Scotland 24/7 throughout the whole of the year including the dark winter months.

[islaydarkblue]

Is this a better way to provide energy?

It is certainly a more reliable way to provide electricity.

[BCram]

Got a quote for business gas. Went from about 4p per kW to 45p per kW then 25p per kW. The supply companies are at it!

[BCram]

Surely they have to charge the going rate regardless of when the energy was procured? Otherwise they can't afford market price to replenish resulting ultimately in them running out - that helps nobody.

Exactly. Price cap system useless.

[islaydarkblue]

Exactly. Price cap system useless.

If the energy price cap was not in place we would be paying around £6,000 per annum for electricity and gas.

[BCram]

If any energy supplier thinks that the public will use the same amount of energy this winter they are kidding themselves. There will be many fewer hours of central heating used and the temperature on thermostats will be turned right down. Single living room heating like we used to have before the days of gas central heating might become the norm.
Europe is talking about energy rationing. Seems a sensible response to the price rises.

[BCram]

So you are happy to pay 26p per unit for your electricity which has previously been purchased by electricity billing companies like Octopus for half the price namely 13p per unit.

Islay, the point being made by Deeranged is that this is absolutely standard commercial practice. I think there will be a massive drop in demand for energy and there will be some spare capacity as a result. The prices I gave for gas, current price about 4p per kwhr, then 46p then a drop down to 26p just shows the volatility. I think the government should limit dividend payments to the level that energy companies per paying pre covid and it would be interesting to see what might happen if ceo and boardroom pay was controlled to restrict it to the percentage pay rise paid to their workers.

[islaydarkblue]

Islay, the point being made by Deeranged is that this is absolutely standard commercial practice. I think there will be a massive drop in demand for energy and there will be some spare capacity as a result. The prices I gave for gas, current price about 4p per kwhr, then 46p then a drop down to 26p just shows the volatility. I think the government should limit dividend payments to the level that energy companies per paying pre covid and it would be interesting to see what might happen if ceo and boardroom pay was controlled to restrict it to the percentage pay rise paid to their workers.

As a result of the Covid pandemic in 2020 the dividend payment made by BP fell by more than 50% due to the price of oil falling at one point below zero as demand for petrol and oil collapsed.
People of working age should remember that £1 in every £7 of BP dividend payments is made to pension funds. If the U.K. Government decides to continually clobber the major oil companies for windfall taxes they will move their headquarters overseas and not bother spending money trying to find oil in U.K. waters.
They will go elsewhere in the world to look for oil and gas.
In 2016 Nicola Sturgeon and the Scottish Government begged the U.K. Government to reduce the taxation charged on oil companies due to a slowdown in the North Sea oil production and now the same SNP controlled Scottish Government are wanting to increase the taxation paid by oil companies because the oil industry is booming worldwide.