Cost of living crisis.

[dsr-burnley]

1 hour ago, rachhere said:

 Glad there are people like this guy in the world stepping up and making a difference. Just wish he didn't have to. 

What are the bills she is paying?  What are her benefits?  All I have seen about benefits and costs suggest that there ought to be enough money for food.  Is this because the system has gone wrong and she isn't getting the benefits she should, or is it because benefits literally do not provide enough money to buy food, or is it because she's got into debt and too much of her income is in having to pay it back, or is it because she doesn't know how to budget?  The powers that be need to have those answers before they can solve anything.  (And I'd be interested too.)

[rachhere]

4 minutes ago, dsr-burnley said:

What are the bills she is paying?  What are her benefits?  All I have seen about benefits and costs suggest that there ought to be enough money for food.  Is this because the system has gone wrong and she isn't getting the benefits she should, or is it because benefits literally do not provide enough money to buy food, or is it because she's got into debt and too much of her income is in having to pay it back, or is it because she doesn't know how to budget?  The powers that be need to have those answers before they can solve anything.  (And I'd be interested too.)

I believe that one of the biggest challenges is that because there is such demand on housing, people end up being forced to take on rent which won't be anywhere near covered by their housing benefit. 

[Rain King]

1 hour ago, dsr-burnley said:

What are the bills she is paying?  What are her benefits?  All I have seen about benefits and costs suggest that there ought to be enough money for food.  Is this because the system has gone wrong and she isn't getting the benefits she should, or is it because benefits literally do not provide enough money to buy food, or is it because she's got into debt and too much of her income is in having to pay it back, or is it because she doesn't know how to budget?  The powers that be need to have those answers before they can solve anything.  (And I'd be interested too.)

 

[Fazzer 7]

Gas prices falling apparently. 

[tom27111]

1 hour ago, Fazzer 7 said:

Gas prices falling apparently. 

 

Having worked in the energy industry, although many years ago, I don't understand how prices have just spiked immediately. 

 

Gas is purchased by the suppliers over 2 years in advance. So they know how much they've paid for it.

 

It's impossible for it to go up to the levels it has at the speed that it has.

[Legend_in_blue]

1 hour ago, Fazzer 7 said:

Gas prices falling apparently. 

So have fuel prices according to the RAC.  It won't make a difference though as prices will continue to remain high.

[grobyfox1990]

34 minutes ago, tom27111 said:

 

Having worked in the energy industry, although many years ago, I don't understand how prices have just spiked immediately. 

 

Gas is purchased by the suppliers over 2 years in advance. So they know how much they've paid for it.

 

It's impossible for it to go up to the levels it has at the speed that it has.

Like any commoditised market fear of market participants can push prices as high or as low as +/- infinity. I remember one Monday in April 2020 when the price of spot crude oil was $-20. I guess not all suppliers buy options for gas two years in advance, and anyway if the market is going crazy the counter party may increase the cost involved with holding the option.

[tom27111]

2 minutes ago, grobyfox1990 said:

Like any commoditised market fear of market participants can push prices as high or as low as +/- infinity. I remember one Monday in April 2020 when the price of spot crude oil was $-20. I guess not all suppliers buy options for gas two years in advance, and anyway if the market is going crazy the counter party may increase the cost involved with holding the option.

 

I know what you're saying, but I also know for a fact Centrica know how much they paid for gas 2 years ago, which is what the public are consuming now.

 

In reality, they should be warning us that energy costs will rise in 18 months.

 

They aren't. They're mugging us off, whilst making record profits.

 

Then getting good publicity (Centrica), by saying "OK, we can help you"...

 

I'm genuinely bemused that the government don't know this and aren't doing anything about it.

[grobyfox1990]

44 minutes ago, tom27111 said:

 

I know what you're saying, but I also know for a fact Centrica know how much they paid for gas 2 years ago, which is what the public are consuming now.

 

In reality, they should be warning us that energy costs will rise in 18 months.

 

They aren't. They're mugging us off, whilst making record profits.

 

Then getting good publicity (Centrica), by saying "OK, we can help you"...

 

I'm genuinely bemused that the government don't know this and aren't doing anything about it.

Ah understood, you’re talking about a specific supplier. Firstly I’m p1ssed off as I’m with British Gas lol. But the govt surely know which suppliers have bought options over their energy supply, but are just allowing these options to be ‘in the money’ and to a massive extent as the markets gone mad of late. As you say doing nothing about it whilst specific suppliers $$$$$$ it in 

[tom27111]

15 minutes ago, grobyfox1990 said:

Ah understood, you’re talking about a specific supplier. Firstly I’m p1ssed off as I’m with British Gas lol. But the govt surely know which suppliers have bought options over their energy supply, but are just allowing these options to be ‘in the money’ and to a massive extent as the markets gone mad of late. As you say doing nothing about it whilst specific suppliers $$$$$$ it in 

Centrica own British Gas. But all suppliers know how much they bought their gas for 2 years ago.

 

They have to forecast usage and buy it in advance at a fixed price. So 2 years ago, there wasn't a war in Russia/Ukraine, so why am I paying for it now?

 

Totally get your point about oil. Like you say, it was negative value, but petrol didn't go down.

 

We're all getting bent over a barrel (of oil) while the owners and shareholders of these companies are getting richer and richer.

[Free Falling Foxes]

57 minutes ago, grobyfox1990 said:

Ah understood, you’re talking about a specific supplier. Firstly I’m p1ssed off as I’m with British Gas lol. But the govt surely know which suppliers have bought options over their energy supply, but are just allowing these options to be ‘in the money’ and to a massive extent as the markets gone mad of late. As you say doing nothing about it whilst specific suppliers $$$$$$ it in 

According to my Smart meter, my electricity tariff has gone up to 50.187p/kwh.

Obviously wrong and certainly not very 'smart'.

Edited 9 October 2022 by Free Falling Foxes

[tom27111]

1 hour ago, Free Falling Foxes said:

According to my Smart meter, my electricity tariff has gone up to 50.187p/kwh.

Obviously wrong and certainly not very 'smart'.

I'd also question ANY gas bill you get. 

 

They try to simplify it by charging you pre kwh, like electricity. But it works nothing like that.

 

Ask what your calorific value is.

 

It doesn't really mean a lot, but it'll confuse the call centre people and they'll take you more seriously 

 

But that also affects how much you should pay for your gas.

 

Simplified, calorific value is like the quality of your gas, it's not as easy as working out you kwh usage in electricity. 

[ozleicester]

From the USA... but pretty sure its no different in the UK or OZ

edit 

...so far this year three of the UK’s top four supermarkets – Tesco, Sainsbury’s and Asda – had issued preliminary profit information for 2021-22, and that once Morrisons’ partial data was added it amounted to a collective profit before tax of £4.08bn.

The four supermarkets cover 66.5% of the UK market. The Co-op, with 6% of the market, has announced profits of £57m for 2021 and Waitrose, with 4.8% of the market, has announced £14.44m.

“Supermarkets are posting record profits – more than £4.08bn this year so far,” said Sustain CEO Kath Dalmeny.

Edited 10 October 2022 by ozleicester

[Fazzer 7]

12 hours ago, tom27111 said:

 

I know what you're saying, but I also know for a fact Centrica know how much they paid for gas 2 years ago, which is what the public are consuming now.

 

In reality, they should be warning us that energy costs will rise in 18 months.

 

They aren't. They're mugging us off, whilst making record profits.

 

Then getting good publicity (Centrica), by saying "OK, we can help you"...

 

I'm genuinely bemused that the government don't know this and aren't doing anything about it.

Are you certain they pay for gas 2 years in advance and not 6 months?

[CosbehFox]

On 07/10/2022 at 15:12, rachhere said:

 Glad there are people like this guy in the world stepping up and making a difference. Just wish he didn't have to. 

Saddens me to be honest that a good number of the British public are presented with a circumstance like that and their reaction is to just question the circumstance and how its occurred. Rather than support, assist and then work upon the cause of the circumstance. 

Edited 10 October 2022 by CosbehFox

[Sol thewall Bamba]

12 hours ago, Legend_in_blue said:

So have fuel prices according to the RAC.  It won't make a difference though as prices will continue to remain high.

Oil prices the same as they were pre Ukraine and fuel prices 10-15% more expensive and rising again. Personally I am shocked. 

[dsr-burnley]

2 hours ago, CosbehFox said:

Saddens me to be honest that a good number of the British public are presented with a circumstance like that and their reaction is to just question the circumstance and how its occurred. Rather than support, assist and then work upon the cause of the circumstance. 

If you want to work on the cause of the circumstances, you have to ask what the cause is.  Stands to reason.

[dsr-burnley]

2 hours ago, ozleicester said:

From the USA... but pretty sure its no different in the UK or OZ

edit 

...so far this year three of the UK’s top four supermarkets – Tesco, Sainsbury’s and Asda – had issued preliminary profit information for 2021-22, and that once Morrisons’ partial data was added it amounted to a collective profit before tax of £4.08bn.

The four supermarkets cover 66.5% of the UK market. The Co-op, with 6% of the market, has announced profits of £57m for 2021 and Waitrose, with 4.8% of the market, has announced £14.44m.

“Supermarkets are posting record profits – more than £4.08bn this year so far,” said Sustain CEO Kath Dalmeny.

Just to be clear, we spend an average of £2,000 per head at these supermarkets, of which £1,940 is the cost of the goods we are buying and £60 is the profit.  If the greater good can be served by getting rid of these supermarkets and replacing them with non-profit organisations, for the sake of £60 per head, then let's do it; if £60 per head is a reasonable price for all the convenience and choice, then let's leave things as they are.

 

If they are trying to get us outraged about a profit of 3% on our purchases, what do they think is a fair and reasonable profit?

Edited 10 October 2022 by dsr-burnley

[leicsmac]

10 minutes ago, dsr-burnley said:

If you want to work on the cause of the circumstances, you have to ask what the cause is.  Stands to reason.

Of course. Knowledge about the whole matter is important in every regard.

 

That being said, I find such questioning to be absolutely sure people without much social power aren't playing the system is akin to questioning the person who may or may not have nicked a Snickers bar from a corner shop while, down the road, people with far much more power have just cleaned out the local bank with next to no one asking questions about them (or no one with the capacity to do much about it, anyway).

[ozleicester]

57 minutes ago, dsr-burnley said:

Just to be clear, we spend an average of £2,000 per head at these supermarkets, of which £1,940 is the cost of the goods we are buying and £60 is the profit.  If the greater good can be served by getting rid of these supermarkets and replacing them with non-profit organisations, for the sake of £60 per head, then let's do it; if £60 per head is a reasonable price for all the convenience and choice, then let's leave things as they are.

 

If they are trying to get us outraged about a profit of 3% on our purchases, what do they think is a fair and reasonable profit?

Tesco said it now expects retail adjusted operating profit in its 2022-2023 financial year of 2.4-2.5 billion pounds

[lcfc278]

1 hour ago, dsr-burnley said:

Just to be clear, we spend an average of £2,000 per head at these supermarkets, of which £1,940 is the cost of the goods we are buying and £60 is the profit.  If the greater good can be served by getting rid of these supermarkets and replacing them with non-profit organisations, for the sake of £60 per head, then let's do it; if £60 per head is a reasonable price for all the convenience and choice, then let's leave things as they are.

 

If they are trying to get us outraged about a profit of 3% on our purchases, what do they think is a fair and reasonable profit?

This is no place for logic and reason!

[ozleicester]

24 minutes ago, lcfc278 said:

This is no place for logic and reason!

oops revenue instead of profit

Edited 10 October 2022 by ozleicester

[st albans fox]

4 hours ago, Sol thewall Bamba said:

Oil prices the same as they were pre Ukraine and fuel prices 10-15% more expensive and rising again. Personally I am shocked. 

what was the exchange rate pre ukraine - i'm guessing 10-15% higher ....

[grobyfox1990]

1 hour ago, dsr-burnley said:

Just to be clear, we spend an average of £2,000 per head at these supermarkets, of which £1,940 is the cost of the goods we are buying and £60 is the profit.  If the greater good can be served by getting rid of these supermarkets and replacing them with non-profit organisations, for the sake of £60 per head, then let's do it; if £60 per head is a reasonable price for all the convenience and choice, then let's leave things as they are.

 

If they are trying to get us outraged about a profit of 3% on our purchases, what do they think is a fair and reasonable profit?

Where did you get those figures from? I’ve had a cursory glance at the Tesco annual statement and can’t see they operate at a 3% margin on cost of goods alone. You can actually download their figures onto excel and play about with them which is cool. Not saying you’re wrong btw just interested, as stated I’ve not looked into it in detail 

[nnfox]

4 hours ago, ozleicester said:

From the USA... but pretty sure its no different in the UK or OZ

edit 

...so far this year three of the UK’s top four supermarkets – Tesco, Sainsbury’s and Asda – had issued preliminary profit information for 2021-22, and that once Morrisons’ partial data was added it amounted to a collective profit before tax of £4.08bn.

The four supermarkets cover 66.5% of the UK market. The Co-op, with 6% of the market, has announced profits of £57m for 2021 and Waitrose, with 4.8% of the market, has announced £14.44m.

“Supermarkets are posting record profits – more than £4.08bn this year so far,” said Sustain CEO Kath Dalmeny.

 

8 minutes ago, ozleicester said:

In the financial year ending in 2022, Waitrose generated a total revenue of 6.98 billion British pounds,

So the British public choose to spend 7 billion pounds in Waitrose, and Waitrose makes less than 14.5m profit?