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  • The whole energy crisis thing

I’m getting a bit sick of hearing about this. Not because of the challenge that needs to be addressed but because people I know are actually literally panicking and the media is making it worse.

Those with learned helplessness within them are in actual despair. And those who normally face bigger challenges adequately are heading that way.

I’ve never seen anything like this and I’m not even living in the U.K. at the moment.

What I don’t understand is that it seems to be ‘explained away’ in really vague terms - and furthermore I saw a ridiculous reason ‘energy usage spiked after lockdowns ended’ - err, so you mean they went roughly back to normal?

I’m totally not into conspiracy theories but I’m starting to wonder if what this is really about is that the energy network needs to raise absolutely massive amounts of capital to revolutionise the whole industry into something that is far more sustainable but also less profitable at the other end.

Ie. To the point where normal investors wouldn’t be attracted to investing to provide energy to the market in a new direction they are yet to unveil.

I’m completely aware I have no real knowledge about energy markets and procurement and neither will any of us here I guess but I know there will be a solution to this and some of them just aren’t palatable for investors full stop.

Rant with me.

    I’ve got a fixed tariff until September 2023, so, for now it has no impact on me. I am sick and fucking tiered of hearing about these so called venerable people complaining that they are struggling, the winter hasn’t even started yet. I haven’t used gas for months. The news are really building this up before it has even really started. Having worked in trade unions, a lot of these people striking are using this as sob story to get more money.

      Dry-Tinder I am sick and fucking tiered of hearing about these so called venerable people complaining that they are struggling

      Big time, just get on with it!

        NasserAlazzawi what pisses me off is that these big companies are still making huge profits yet still charging end users a fortune. I don’t understand how it all works, but I thought the energy cap was to prevent that. Surely whoever manages the energy cap need to tell the big corporations that they are going to have to suffer in their profits first, before charging customers more.
        At the moment it just feels like everything is getting more fucking expensive and we don’t know if it’s the fault of Putin, covid, Brexit, Boris or Father Christmas. Or all of them together

            As usual the media are hyping it up so that, as Nasser points out, people are making themselves ill over it.

            It will obviously be an increased cost for all of us but ffs, its gone from £2k a year, to £3k, to £4k, to £5k and then guess what? £6k according to the latest bellend consultant they have asked. Proof really that none of these twats actually know what it will be.

            Today’s headline had a figure of about £3.5k. I bet in a years time if I ask anyone I know how much they paid none of them will have paid that amount.

            I detest the media so much, they’ve been especially shit since Covid.

            There’s a fair bit of misplaced complacency here, I’d wager by people on fixed deals.

            I moved from Eon to Bulb last September because I wanted to move to a totally renewable provider. Big mistake. At the time I could have fixed for 2 years with Eon for roughly the same as I was paying perviously, which was about £115 a month.

            Bulb has only one rate - a variable rate. My bills went up from £115 to £230 a month back in March. Literally doubled overnight. I’ll feed back what they will be when I get my new update, which they are probably writing to me as I type this.

            I suspect anyone unlucky enough to be on a variable / non-fixed tarif will find themselves at the upper end of the cap. The companies will take the most they can from those they can

            It’s ruthless profiteering from the industry - taking advantage of world events. I have zero faith prices will come back down either.

            I guarantee the cap will rise again at the next stage in 3 months’ time.

            Meanwhile Russia burns off £10m of gas a day as they can’t sell it to anyone.

            https://www.bbc.com/news/science-environment-62652133.amp

            My electricity is fixed with octopus at 15p / unit for anything outside 00:30-04:30. 5p / unit at night. I am in for a big shock when that ends next year. I have an electric car so will need some kind of EV tariff. Charging at 5p / unit is fine. 50p / unit and its the same price as diesel

            Also I checked usage with friends. One is using 50% more electricity than me and does not have an electric car. The other is using 3 times as much gas as me in the summer for hot water. There are some qwuick fixes if people looked at their bills

            I just pay the bills when they come in, don’t even look at the numbers if truth be told.

            • Heno replied to this.

              There are millions of people in this country already struggling to put food on the table who simply cannot afford to pay these increased prices.

              Even if you can afford to pay, it’s pretty sickening to see the levels of profits these companies are making, whilst at the same time being given every tax incentive / relief under the sun.

              Buckle up as there’s going to be some massive civil unrest in the UK soon.

              It’s not just hoisehold prices that will be affected - this will push the prices of everything else up too as businesses seek to recover their higher costs.

                NasserAlazzawi I’m getting a bit sick of hearing about this. Not because of the challenge that needs to be addressed but because people I know are actually literally panicking and the media is making it worse.

                Those with learned helplessness within them are in actual despair. And those who normally face bigger challenges adequately are heading that way.

                People on low incomes are panicking because they are already struggling to pay their bills mate. I dare say many of us here are somewhat immune to these price hikes, but the so called cost of living crisis is real.

                    Nas is a trustafarian living the dream in Cyprus.

                    RichM it’s the wholesale that are ripping people off and profiteering - this isn’t inflation, it’s price fixing if it’s anything. The retail end with the like of Octopus are struggling too. It’s cunts like BP, Exxon and British Gas that are pissing down our backs and telling us it’s raining. There needs to be a serious government intervention - taxing them more will just compound the problem. These people are absolute fucking cunts.

                    It’s fair to comment on it with the average household income being £31k (gross) and your energy bill is 10% of that. People on state pensions who need heat in the winter are really gonna suffer - people need to see beyond their comfortable lives.

                        Along_the_Wire It’s cunts like BP, Exxon and British Gas that are pissing down our backs and telling us it’s raining

                        I really hope these companies get what’s coming to them. Absolute fucking cunts.

                        On a separate matter, considering the share values in these companies must have gone through the roof, you would expect pensions which are tied into these should also see the benefit of this. I wonder if that will ever materialise

                          https://www.theguardian.com/money/2022/aug/26/ofgem-raises-energy-price-cap-to-3549

                          "In a blow for hard-pressed consumers already struggling with soaring inflation, Ofgem approved the £1,578 increase on the current figure of £1,971 for the average dual-fuel tariff – a rise of 80%.

                          The cap will be almost treble what it was a year earlier last October, when it was raised to £1,277."

                          Meanwhile real wages are still below what they were in 2008.

                            mono-stereo People on low incomes are panicking because they are already struggling to pay their bills mate.

                            I know mate, I agree. And I totally agree with @Old-Dutch about civil unrest.

                            I do wonder if a real solution will come first, or the unrest.

                            It’s a real problem for normal everyday people. I know hard working teachers and people working good security jobs in the ports and they were telling me how hard it is to make ends meet with one child and a modest lifestyle in a modest area to live.

                            Like really worried about losing the extra £40 per month to get a new iPhone. But a £130 bill going to what sounds like £400 or £500 per month is fucking nuts.

                            Some moron was on radio 2 earlier saying ‘everyone going to be fine everyone has excess at the end of the month and everyone has savings’ - people can be so stupid when they think the country is how their immediate circle is.

                              Along_the_Wire

                              As the overton window slides to the right we all graciously accept a lower quality of living. We don’t feel the full effect because we’re not at the sharp end.

                              Meanwhile we have BP’s boss (earning 4.5m a year) describing his company as “a cash machine” whilst people in full time work are using food banks.

                              • erik replied to this.