[News] Energy bills to top £4200 at the start of next year

[KZNSeagull]

Just to cheer us all up, the people that produced this estimate today have said that these high prices are not a short term spike and may well be with us for the next 3 years.

 

[Cotton Socks]

Anyone considering fixing should look at the Martin Lewis website, don't just take a fix from your current provider. Gather all your bills and work out your actual 'usage' for the past year. Don't compare by the price you're paying by DD. Your current provider will be unlikely to reward your loyalty in the same way that broadband & insurance companies don't. It will take less than 30 mins but even if you can only bring your bill down by £10 per month that's still £120. A British Gas fix was £120 per month more expensive last year than a rival.

 

[StonehamPark]

Why is it so expensive in England?

I live in a mountain town in Canada, a good distance from any major city.
A 2 bed, 1000 sq ft apartment costs under 400 pounds per year for water, electricity and heating combined.
Considering the heating is on 24/7 for 3 months of the year when the temps are consistently in the negative.

A rough approximate going by the above figures, would result in a small/modest sized home around 2000 sq ft would cost under a grand per year all in, here anyway.

What is it that’s resulting in such incredibly high costs in comparison?

 

[deletebeepbeepbeep]

Why is it so expensive in England?

I live in a mountain town in Canada, a good distance from any major city.
A 2 bed, 1000 sq ft apartment costs under 400 pounds per year for water, electricity and heating combined.
Considering the heating is on 24/7 for 3 months of the year when the temps are consistently in the negative.

A rough approximate going by the above figures, would result in a small/modest sized home around 2000 sq ft would cost under a grand per year all in, here anyway.

What is it that’s resulting in such incredibly high costs in comparison?

Capatlism on steroids after 12 years of Tory government laced with corporate greed and lack of any kind of planning for fuel security.

E.g. this is what Nick Clegg said about why we shouldn't bother with plannng for nucleur power in 2010

[tweet]1556381583585804291[/tweet]

Hmmm might have been quite helpful around about now??

 

[GloryDays]

This might sound stupid but is that 4200 a MONTH?

Not yet. Give it a few months. Wonder if ppl will be concerned when it does?

We shouldn’t be accepting this, everyone. This is a disgrace.

If you ever wonder who the government were truly serving, now you know. This is unacceptable. We are being properly mugged off.

 

[beorhthelm]

Why is it so expensive in England?

I live in a mountain town in Canada, a good distance from any major city.
A 2 bed, 1000 sq ft apartment costs under 400 pounds per year for water, electricity and heating combined.
Considering the heating is on 24/7 for 3 months of the year when the temps are consistently in the negative.

A rough approximate going by the above figures, would result in a small/modest sized home around 2000 sq ft would cost under a grand per year all in, here anyway.

What is it that’s resulting in such incredibly high costs in comparison?

european gas price, from war and energy policy. and a boat load of regulation, taxs and costs that dont exist in north america. you're probably getting a dollop of subsidy in remote Canada too.
https://tradingeconomics.com/commodity/eu-natural-gas

 

[GloryDays]

Why is it so expensive in England?

I live in a mountain town in Canada, a good distance from any major city.
A 2 bed, 1000 sq ft apartment costs under 400 pounds per year for water, electricity and heating combined.
Considering the heating is on 24/7 for 3 months of the year when the temps are consistently in the negative.

A rough approximate going by the above figures, would result in a small/modest sized home around 2000 sq ft would cost under a grand per year all in, here anyway.

What is it that’s resulting in such incredibly high costs in comparison?

We’ve painted ourselves in to a corner here in the UK over the years. Privatising this and that. A race to the bottom.

My only hope is that this is the last throws of this current government, protecting their mates / investment. A massive money grab from all the people / corps that feel like they are owed something from their allegiance to the tories. And I just hope that this is a time for change.

I don’t pray for a rebellion or riots or communist rule. I like capitalism when it works but it’s clear businesses are cashing out now.

Part of me feels it started in lockdown when a lot of individuals decided they liked their lives and didn’t want to work as much as they did and so the gov quickly meddled to remind people they need to work every day of their lives, but I’m venturing in to conspiracy now. Sad that conspiracy and truth can be so indiscernible.

 

[Herr Tubthumper]

european gas price, from war and energy policy. and a boat load of regulation, taxs and costs that dont exist in north america. you're probably getting a dollop of subsidy in remote Canada too.
https://tradingeconomics.com/commodity/eu-natural-gas

Why does the increase vary so much across Europe though? How come the UK price rise is 150%, we’ll over twice that of Germany and way more than France?

 

[Swansman]

Sounds crazy. Happy to live where water and heating is included in the rent (as it usually is in Sweden). Electricity will be more expensive but unless you're running a Internet cafe in the basement, £4200 is just not happening.

 

[Neville's Breakfast]

Why does the increase vary so much across Europe though? How come the UK price rise is 150%, we’ll over twice that of Germany and way more than France?

Each country has a different infrastructure. France has a lot of Nuclear power. If the price rise in Germany is less than here I’m surprised because there is also talk of gas rationing over there due to heavy reliance on Russian gas. There is a lot of talk in the markets about a complete and sudden switch off from this source and that will impact massively on Germany. Your economy is about the most vulnerable of the lot.

 

[Weststander]

Why is it so expensive in England?

I live in a mountain town in Canada, a good distance from any major city.
A 2 bed, 1000 sq ft apartment costs under 400 pounds per year for water, electricity and heating combined.
Considering the heating is on 24/7 for 3 months of the year when the temps are consistently in the negative.

A rough approximate going by the above figures, would result in a small/modest sized home around 2000 sq ft would cost under a grand per year all in, here anyway.

What is it that’s resulting in such incredibly high costs in comparison?

Because Canada think nothing of burning carbons, eating a little into their huge gas resources and polluting the planet.

Canada’s CO2 emissions per capita 15.5 metric tonnes (in 2000 - 16.8 tonnes).

Europe has significant green taxes on domestic bills to fund other energy sources, and is affected by Putin’s waging of war.
UK 5.4 (in 2000 - 12.6)
EU 7.5 (in 2000 - 10.8)

 

[beorhthelm]

Why does the increase vary so much across Europe though? How come the UK price rise is 150%, we’ll over twice that of Germany and way more than France?

different ways of handling rises so far. price rises coming to Germany, already restricting use already. France is an outlier with so much nuclear and just nationalised to cap the prices.

 

[Neville's Breakfast]

If it was nationalised, wouldn't UK power, or whatever, be buying on a national/international market, where extraction and energy producers are selling? Isn't that where the actual genuine competition/market is, not with me choosing between various billing companies?

Not entirely in electricity. This all comes from the national grid and the price is driven by UK demand and the generating capacity that can satisfy it. Demand too much electricity and more expensive generation is used ie fossil fuels. The exception is that when European demand is high they also call on UK supply through interconnectors. This can happen eg when there are problems with French nuclear generation.Gas is priced closer to international markets although we are a lot more self sufficient than eg Germany. Privatization would make little difference to the price UK plc pays for its power and gas but would cut out an unnecessary middleman. That middleman isn’t driving the high bills though. Russia is the cause.

 

[Paulie Gualtieri]

Ouch…I’m currently living in a parallel universe having ‘fixed’ nearly two years ago …reality hits on November 20th when it ends

I took a two year fix last November (increase of 15% YoY but seemed the right thing to do at the time)

I’ve started putting away an equal amount now as suspect I will feel the rate shock next winter


Sent from my iPhone using Tapatalk

 

[Paulie Gualtieri]

Sounds crazy. Happy to live where water and heating is included in the rent (as it usually is in Sweden). Electricity will be more expensive but unless you're running a Internet cafe in the basement, £4200 is just not happening.

Imagine that all that compressed cardboard helps as well


Sent from my iPhone using Tapatalk

 

[Neville's Breakfast]

Not entirely in electricity. This all comes from the national grid and the price is driven by UK demand and the generating capacity that can satisfy it. Demand too much electricity and more expensive generation is used ie fossil fuels. The exception is that when European demand is high they also call on UK supply through interconnectors. This can happen eg when there are problems with French nuclear generation.Gas is priced closer to international markets although we are a lot more self sufficient than eg Germany. Privatization would make little difference to the price UK plc pays for its power and gas but would cut out an unnecessary middleman. That middleman isn’t driving the high bills though. Russia is the cause.

As a follow up we are actually becoming a net exporter of gas to the EU, especially this Summer and that is driving our gas prices higher. Ironically there is talk of pipeline closures because of dust in filters. This would trap gas in the UK and serve to dampen prices. My point is we are in a much better position than Germany.

 

[LamieRobertson]

As a follow up we are actually becoming a net exporter of gas to the EU, especially this Summer and that is driving our gas prices higher. Ironically there is talk of pipeline closures because of dust in filters. This would trap gas in the UK and serve to dampen prices. My point is we are in a much better position than Germany.

I’m willing to send them more dust if it helps ..it’s all that’s being collected in the lawnmowers at the mo

 

[Herr Tubthumper]

As a follow up we are actually becoming a net exporter of gas to the EU, especially this Summer and that is driving our gas prices higher. Ironically there is talk of pipeline closures because of dust in filters. This would trap gas in the UK and serve to dampen prices. My point is we are in a much better position than Germany.

So if the UK has so much gas….why doesn’t the government do something about trapping it in the country…and as you suggest bringing the price down?

 

[worthingseagull123]

Anyone else concerned?

Sent from my Pixel 6 using Tapatalk

I am for others.

I went on a two year fix in April.

 

[beorhthelm]

So if the UK has so much gas….why doesn’t the government do something about trapping it in the country…and as you suggest bringing the price down?

because the Germans would rather like to buy it and fill up storage for the winter, as their normal supplier is being a bit off with them at the moment and they arent convinced supply will be there. then theres the use to cover all the wind power that isnt being produced due to persistant high pressure.