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Gas and Electricity Prices

Discussion in 'off topic' started by gordonscobie, Sep 14, 2021.

  1. robs

    robs should know how this works by no

    But now they're going to get bailed out anyway...either by taxpayers or bill payers...
     
  2. Ponty

    Ponty pfm Member

    Indeed. At this rate I’m going to have to lock up the log sheds! I can see fuel theft increasing this winter. Those with oil tanks need to be particularly vigilant. When the oil price was last high, I heard of organised low life using sharpened scaffold poles to puncture oil tanks and drain. As well as the stolen oil, you need a new bunded tank.
     
  3. robs

    robs should know how this works by no

    This is a great album:

     
  4. Ponty

    Ponty pfm Member

    I don’t think it will be taxpayers.
     
  5. Aethelist

    Aethelist pfm Member

    Meanwhile HS2 goes on with nobody actually all that bothered about where our energy supply might be wanting.

    It's too embarrassing for words.
     
  6. Ponty

    Ponty pfm Member

    That’s got to be culled, surely?!
     
  7. Bob McC

    Bob McC Living the life of Riley

    According to Sky 1 in 4 UK households are with un-hedged supply companies that could go under.
     
  8. Aethelist

    Aethelist pfm Member

    Well, apparently it was a good idea to build a whole new network of transport infrastructure to get people to go where they need to be going a tad more conveniently but I get the impression that not a lot of people really thought it through all that well.

    Governments. Couldn't organise the proverbial.
     
  9. Ponty

    Ponty pfm Member

    Jesus. This reminds me of the financial crisis when folks were chasing higher interest rates from Icelandic banks without understanding the risks. They got bailed out anyway by UK taxpayers, crazy!
     
  10. Seeker_UK

    Seeker_UK Booyakashah, check out my avatar...

    I couldn't help feeling that the minister missed the ****ing point. I don't think people are concerned that the gas will run out as much as they are concerned that they won't be able to afford it.
     
    Sue Pertwee-Tyr likes this.
  11. Mike Reed

    Mike Reed pfm Member

    During that, a well-known camping outfitters in the north held a sale. Emblazoned across their large windows was ' This is the winter of our discount tents' (true, I believe).

    Four?
     
  12. Mike Reed

    Mike Reed pfm Member

    Which were eventually reimbursed in full by either the Island authorities or their banks.
     
  13. kensalriser

    kensalriser pfm Member

    I naively thought that energy retailers followed a business model in which they would buy forward contracts for supply based on the estimates of how much energy their customers would use during the length of their contract. It never occurred to me that a model of buying at a variable price and selling at a fixed price could be a thing.
     
  14. Spraggons Den

    Spraggons Den pfm Member

    The utility companies have been making huge profits in the decades since privatisation - why haven’t they saved some of their bounty for a rainy day such as now which given the nature of the gas market this was always going to happen.

    Alternatively, and as the government now admits that they are of national importance, why not let them go bust and then take them back into public ownership (where they belong anyway) and with the added bonus of getting them at a knock down price.
     
  15. simon g

    simon g Older, wiser but no longer retired

    Trouble is that is how I would characterise the politicians who would control any nationalised industry!
     
    mansr and Sue Pertwee-Tyr like this.
  16. davidsrsb

    davidsrsb pfm Member

    Various companies/countries own the gas fields and international distribution. Somebody owns the national gas distribution network. All of these gas retailers are just middlemen who do nothing useful.
     
  17. laughingboy

    laughingboy pfm Member

    There's no reason for politicians to be directly in charge of nationalised industries. A variety of corporate structures are available to allow them to operate at arms' length from government. We just need the political will.

    How do you feel about Network Rail, for instance?
     
  18. Ponty

    Ponty pfm Member

    That’s great, however, the UK govt would not have known this would be the case at the time. IIRC UK councils shoved circa £1BN of funds into them.

    Back to energy, why should failed businesses be bailed out and by whom? As I’ve said, they’ve demonstrated they don’t have the balance sheets or resilience to operate when they make a bad call in a global market. They took a punt and got it wrong.
     
  19. farfromthesun

    farfromthesun pfm Member

    There is a storm brewing, and I hope it seriously damages the Tories; huge hikes in energy bills, tax hikes and Universal Credit cuts are all going to align and cause many, many people some serious problems. Coupled with issues such as pressure on food supplies, small businesses folding due to excessive Brexit red tape; something is going to give, and I don't think we're going to be waiting long. Pitchforks at the ready.
     
    mega lord and NeilR like this.
  20. Spraggons Den

    Spraggons Den pfm Member

    And lanterns.
     

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