Cost of living crisis.

[fox_favourite]

32 minutes ago, kenny said:

The current gas prices are back down to the same level they were this time last year. 

 

Is it possible that the energy prices won't rise anywhere near as high as was reported? As it stands, I don't really understand why its still rising if the cost of gas is falling and Europe has now filled its gas storage for the winter.

It takes a few months I think to filter through. However, I can imagine the cost will stay higher which companies stating the demand will demand out stripping supply in the winter.  

[fox_favourite]

Cost of diesel has increased quietly I noticed. Drive pass a petrol station and the last week it has hit late 1.80’s from 1.77 a few weeks ago. 

[grobyfox1990]

51 minutes ago, kenny said:

The current gas prices are back down to the same level they were this time last year. 

 

Is it possible that the energy prices won't rise anywhere near as high as was reported? As it stands, I don't really understand why its still rising if the cost of gas is falling and Europe has now filled its gas storage for the winter.

Gas prices went negative for a bit earlier this week lol. There’s ships waiting off coast to unload LNG as storage facilities are full. But that’s this winter, got a classic case of contagion where forward prices into the future are higher than current market prices. Might be that providers cut supply now and wait to deliver next winter. Once again showing when you ‘financialise’ your entire country and basic existence, you’re at the whims of volatility forever 

[kenny]

16 minutes ago, fox_favourite said:

It takes a few months I think to filter through. However, I can imagine the cost will stay higher which companies stating the demand will demand out stripping supply in the winter.  

It hasn't reached the cap yet. Is it possible the prices have peaked already?

[FoyleFox]

Has anyone signed up to one of the schemes the energy firms are running, where they are paying you to reduce usage at peak times? British Gas announced a scheme today, Octopus and Ovo already launched theirs.

 

I sent an expression of interest, but haven't heard anything. Are they selecting specific high use households, or is it everyone who wants to join? I haven't seen the details on who is eligible. Is it to target high consumers? We wouldn't normally use high consuming appliances - cooker, washer or tv etc in the peak of 4.30pm - 6.30pm so would happily take money for not using them.

[Sol thewall Bamba]

https://www.bbc.co.uk/news/business-63409687

Sickening 

[Parafox]

3 minutes ago, Sol thewall Bamba said:

https://www.bbc.co.uk/news/business-63409687

Sickening 

"However, Shell said that because it had made large investments in the UK, it meant it had made no profit here".

 

Rubbish.

 

"It also does not expect to start paying windfall taxes until early next year".

 

We'll see in due course.

 

"Ed Miliband, Labour's shadow climate change secretary, said the current windfall tax on energy firms was flawed and "would see billions of pounds of taxpayer money go back into the pockets of oil and gas giants through ludicrous tax breaks".

"Shell's profits were "further proof" the UK needed a higher windfall tax to make sure energy companies "pay their fair share", he said".

 

I agree.

[VLC86]

17 minutes ago, FoyleFox said:

Has anyone signed up to one of the schemes the energy firms are running, where they are paying you to reduce usage at peak times? British Gas announced a scheme today, Octopus and Ovo already launched theirs.

 

I sent an expression of interest, but haven't heard anything. Are they selecting specific high use households, or is it everyone who wants to join? I haven't seen the details on who is eligible. Is it to target high consumers? We wouldn't normally use high consuming appliances - cooker, washer or tv etc in the peak of 4.30pm - 6.30pm so would happily take money for not using them.

Yeah. I’ve got an electric car and get it for 9p per KW between 2am and 6am which has meant I get a full tank (270 odd miles)for about £9.

 

I’m awaiting the installation of a smart battery so I can fully charge that between them hours and use it during the day. I’ve worked out that the battery will repay itself within 3 years as a result and then it’s all savings. If anyone wants to know more about them and how they work give me a shout, it should drastically reduce my bill.

 

Edit- just re read and it’s a different scheme.

Edited 27 October 2022 by Costock_Fox

[Dahnsouff]

12 minutes ago, Parafox said:

"However, Shell said that because it had made large investments in the UK, it meant it had made no profit here".

 

Rubbish.

 

"It also does not expect to start paying windfall taxes until early next year".

 

We'll see in due course.

 

"Ed Miliband, Labour's shadow climate change secretary, said the current windfall tax on energy firms was flawed and "would see billions of pounds of taxpayer money go back into the pockets of oil and gas giants through ludicrous tax breaks".

"Shell's profits were "further proof" the UK needed a higher windfall tax to make sure energy companies "pay their fair share", he said".

 

I agree.

It might be utter nonsense, in fact I am sure it is, but I still would like to hear what these profits have been spent on in this country

[Fazzer 7]

1 hour ago, fox_favourite said:

Cost of diesel has increased quietly I noticed. Drive pass a petrol station and the last week it has hit late 1.80’s from 1.77 a few weeks ago. 

In my town it’s 1.93 Highest 1.86 lowest 

[fox_favourite]

7 minutes ago, Fazzer 7 said:

In my town it’s 1.93 Highest 1.86 lowest 

Why I go to Costco 😊

[dsr-burnley]

4 hours ago, Sol thewall Bamba said:

https://www.bbc.co.uk/news/business-63409687

Sickening 

Like we said on the previous page, if Shell were taxed at 100% on their profit in the UK (on the assumption that expenses are shared in proportion to income) then we could knock almost £14 per month over the average household energy bill.  So instead of average notional bills going to £5,000 per year, they would go to £4,840.

 

£9.5bn is a lot of money, but when shared around 8 billion people round the world, it won't provide that much extra funds per person.  Taxing them would be more a matter of envy and punishment than a fund-raising exercise.

[Parafox]

4 hours ago, fox_favourite said:

Why I go to Costco 😊

I went to Costco from Hinckley. I worked out it saved me £6 on a £100 tank of fuel against my local Asda fuel price.

It cost me £5 in fuel there and back. So, I actually saved £1. 

It's all relative. Great if you're local and fair play, get it cheap where you can.

Still, I managed to buy a huge block of cheese and a 24 pack of toilet rolls so all was not wasted.

Edited 27 October 2022 by Parafox

[RobHawk]

On 27/10/2022 at 23:41, dsr-burnley said:

Like we said on the previous page, if Shell were taxed at 100% on their profit in the UK (on the assumption that expenses are shared in proportion to income) then we could knock almost £14 per month over the average household energy bill.  So instead of average notional bills going to £5,000 per year, they would go to £4,840.

 

£9.5bn is a lot of money, but when shared around 8 billion people round the world, it won't provide that much extra funds per person.  Taxing them would be more a matter of envy and punishment than a fund-raising exercise.

I'll have the £14 a month please. All adds up 👍

[dsr-burnley]

4 hours ago, RobHawk said:

I'll have the £14 a month please. All adds up 👍

Yes, but you have to accept as well that Shell (and other oil companies) will no longer operate in the UK if they aren't allowed to make profits.  Still, if no-one is selling or producing oil, it's got to be good for the environment!

[yorkie1999]

On 28/10/2022 at 00:34, Parafox said:

I went to Costco from Hinckley. I worked out it saved me £6 on a £100 tank of fuel against my local Asda fuel price.

It cost me £5 in fuel there and back. So, I actually saved £1. 

It's all relative. Great if you're local and fair play, get it cheap where you can.

Still, I managed to buy a huge block of cheese and a 24 pack of toilet rolls so all was not wasted.

But you use 2 gallons waiting in the queue

[Tommy G]

On 28/10/2022 at 00:34, Parafox said:

I went to Costco from Hinckley. I worked out it saved me £6 on a £100 tank of fuel against my local Asda fuel price.

It cost me £5 in fuel there and back. So, I actually saved £1. 

It's all relative. Great if you're local and fair play, get it cheap where you can.

Still, I managed to buy a huge block of cheese and a 24 pack of toilet rolls so all was not wasted.

And wear and tear on your car....

[Sol thewall Bamba]

On 27/10/2022 at 18:31, fox_favourite said:

Cost of diesel has increased quietly I noticed. Drive pass a petrol station and the last week it has hit late 1.80’s from 1.77 a few weeks ago. 

30 pence a litre more expensive than petrol at my local garage. The latest scam. 

[Spudulike]

On 27/10/2022 at 19:11, Costock_Fox said:

Yeah. I’ve got an electric car and get it for 9p per KW between 2am and 6am which has meant I get a full tank (270 odd miles)for about £9.

 

I’m awaiting the installation of a smart battery so I can fully charge that between them hours and use it during the day. I’ve worked out that the battery will repay itself within 3 years as a result and then it’s all savings. If anyone wants to know more about them and how they work give me a shout, it should drastically reduce my bill.

 

Edit- just re read and it’s a different scheme.

270 odd miles? What model is it? 

[yorkie1999]

On 27/10/2022 at 18:57, FoyleFox said:

Has anyone signed up to one of the schemes the energy firms are running, where they are paying you to reduce usage at peak times? British Gas announced a scheme today, Octopus and Ovo already launched theirs.

 

I sent an expression of interest, but haven't heard anything. Are they selecting specific high use households, or is it everyone who wants to join? I haven't seen the details on who is eligible. Is it to target high consumers? We wouldn't normally use high consuming appliances - cooker, washer or tv etc in the peak of 4.30pm - 6.30pm so would happily take money for not using them.

I can't work it out. They pay you (and Businesses) per kw to run an appliance ouside of peak demand, basically eco 7, 12.00 - 07.00. So if i run a couple of 3 kw heaters in my garage for 7 hours, they'll pay me 42 quid!! somethings amiss.

[VLC86]

1 hour ago, Spudulike said:

270 odd miles? What model is it? 

Mustang Mach e

[kenny]

28 minutes ago, Costock_Fox said:

Mustang Mach e

The Polestar 2 has a similar range as well.

[FoyleFox]

1 hour ago, yorkie1999 said:

I can't work it out. They pay you (and Businesses) per kw to run an appliance ouside of peak demand, basically eco 7, 12.00 - 07.00. So if i run a couple of 3 kw heaters in my garage for 7 hours, they'll pay me 42 quid!! somethings amiss.

I've now had a further email from Octopus, they are going to pay you if you reduce your energy consumption for the specified period. It says, "Every unit you don't use compared to normal".

So presumably, if you normally consume 10kw between 4pm and 6pm and in the 'saver session' you only use 5kw, you'll get a payment.

Once you're signed up, you get a notification for the saver session and opt in if you wish to take part. I'll see how it goes.

[yorkie1999]

9 minutes ago, FoyleFox said:

I've now had a further email from Octopus, they are going to pay you if you reduce your energy consumption for the specified period. It says, "Every unit you don't use compared to normal".

So presumably, if you normally consume 10kw between 4pm and 6pm and in the 'saver session' you only use 5kw, you'll get a payment.

Once you're signed up, you get a notification for the saver session and opt in if you wish to take part. I'll see how it goes.

i was talking to the boss about this, we have about 20 machines that are roughly 15-25 kw each, so if we turn them off from 4-6, that's something like 800kw, and then turn them back on later, that is some serious dough for not doing anything.  

[FoyleFox]

13 minutes ago, yorkie1999 said:

i was talking to the boss about this, we have about 20 machines that are roughly 15-25 kw each, so if we turn them off from 4-6, that's something like 800kw, and then turn them back on later, that is some serious dough for not doing anything.  

I don't know if the business scheme will be the same but, there is a ceiling for payments. The email says we can earn up to £100 over the session period. There will be 12 sessions between 1st Nov and 31 March, which will be 1 - 4 hours in duration. So, it might not be that profitable for you.

 

I'm hoping you don't work at the LRI or run essential type machines