Electricity Price Hike

[CallMeCurious]

1 minute ago, GD4ELI said:

Maybe 12 years, but I'm also greatly reducing my carbon footprint which is the most important aspect. Also I'm now almost immune to any crazy price rises.

 Wait until your neighbours start popping round to borrow some of your free electricty. 

[AcousticallyChallenged]

There’s all sorts of clever trickery you can do to get your money’s worth too.

Anything that involves heating things up,  immersion heaters, hot tubs etc. You can use surplus on those, and export the rest.

Timed washing machine and tumble drier runs, your washing will be sorted by the time you’re home from work.

Plus, as prices get higher, the cost savings increase. 

The other thing to bear in mind is that solar panels are warrantied to still produce a minimum of 80% of their initial output after 20-25 years depending on manufacturer. So even if the payback period is a decade, at current prices, you get cut rate power for much longer after that. 

With price rises, your payback period can also drop significantly

[mad_manx]

21 minutes ago, CallMeCurious said:

 Wait until your neighbours start popping round to borrow some of your free electricty. 

Depends   on how well you get along with your neighbour.. Remember that even  the EV off peak tariff will soon be multiple times of what you get for exporting excess electricity generated to the grid. 😉

 

[Ham_N_Eggs]

10 hours ago, Happier diner said:

So how come they rejected the MUA attempt to raise tariffs 6months ago. The rubber stamp must have gotten lost.

And how has that work out for us?

The UK Government also interfered in pricing but they still have a regulator advising them not the energy companies directly.

[Happier diner]

1 hour ago, CallMeCurious said:

What is the payback period?

 

1 hour ago, WTF said:

eternity.

I calculated between 15 to 20 years on the IOM. That's because solar installation is more expensive. It's not so sunny and electricity is(currently) cheaper.

[Banker]

14 minutes ago, Ham_N_Eggs said:

And how has that work out for us?

The UK Government also interfered in pricing but they still have a regulator advising them not the energy companies directly.

Which is why MUA needs to come under CURA 

[WTF]

1 hour ago, Happier diner said:

 

I calculated between 15 to 20 years on the IOM. That's because solar installation is more expensive. It's not so sunny and electricity is(currently) cheaper.

i assumed the payback time question was referring to the MEA loans.

[CallMeCurious]

2 hours ago, AcousticallyChallenged said:

There’s all sorts of clever trickery you can do to get your money’s worth too.

Anything that involves heating things up,  immersion heaters, hot tubs etc. You can use surplus on those, and export the rest.

Timed washing machine and tumble drier runs, your washing will be sorted by the time you’re home from work.

Plus, as prices get higher, the cost savings increase. 

The other thing to bear in mind is that solar panels are warrantied to still produce a minimum of 80% of their initial output after 20-25 years depending on manufacturer. So even if the payback period is a decade, at current prices, you get cut rate power for much longer after that. 

With price rises, your payback period can also drop significantly

Make sure you read the fine print in your insurance in case of unattended appliances like tumble dryers etc. You know what they are like when it comes to finding reasons not to pay out. 

The trick is to use as much free energy as you can, then store as much of the excess free energy as you can and when both those avenues are 'saturated' then anything left over you sell to the MUA.

spoke to a Swedish homeowner a decade ago after they had a ground source heat pump with a borehole installed. They get them installed in the spring as summers can be quite hot they use it to cool as well as warm. So basically in the first  summer they pump the excess heat into the ground and draw it down, along with ambient geothermal in the winter.

The advantage being you only draw down on the stored heat as needed. The German Parliment use a similar process.

https://www.bundestag.de/en/visittheBundestag/energy

It must feel like Christmas when you open your electric bills and see how much they have fallen. Especially if you can eliminate or mitigate the use of gas if you have it too.   

[AcousticallyChallenged]

15 minutes ago, CallMeCurious said:

Make sure you read the fine print in your insurance in case of unattended appliances like tumble dryers etc. You know what they are like when it comes to finding reasons not to pay out. 

 

The trick is to use as much free energy as you can, then store as much of the excess free energy as you can and when both those avenues are 'saturated' then anything left over you sell to the MUA.

spoke to a Swedish homeowner a decade ago after they had a ground source heat pump with a borehole installed. They get them installed in the spring as summers can be quite hot they use it to cool as well as warm. So basically in the first  summer they pump the excess heat into the ground and draw it down, along with ambient geothermal in the winter.

 

The advantage being you only draw down on the stored heat as needed. The German Parliment use a similar process.

 

https://www.bundestag.de/en/visittheBundestag/energy

It must feel like Christmas when you open your electric bills and see how much they have fallen. Especially if you can eliminate or mitigate the use of gas if you have it too.   

The modern battery tech is getting better and cheaper all the time too. 

Companies are making modular systems you can add to without being an electrician too. Plug and play.

You can get the smart panel linked up and you just add batteries as you see fit. Takes some of the sting out, and means you can scale up when you’re ready to. It’s all LiFePO4 too, so will hold 80% of capacity after 3000 full discharge/charge cycles. Many more if you don’t drain them all the way.

[CallMeCurious]

Just now, AcousticallyChallenged said:

The modern battery tech is getting better and cheaper all the time too. 

Companies are making modular systems you can add to without being an electrician too. Plug and play.

You can get the smart panel linked up and you just add batteries as you see fit. Takes some of the sting out, and means you can scale up when you’re ready to. It’s all LiFePO4 too, so will hold 80% of capacity after 3000 full discharge/charge cycles. Many more if you don’t drain them all the way.

Now you just need planning for the extension to fit them all in 😁.   Hopefully this LiFePO4 tech is safer than lithium car batteries? Don't want to get all of your heating in one go! 

[Mercenary]

5 hours ago, Non-Believer said:

EPH were the contractor involved with the building of the hospital, with a Manx component of the company, Crowe (Crowe EPH). Enron were the body that folded during the power station construction, that was another, global, collapse.

The interest on the unauthorised loans that Proffitt had taken out with Barclays (being sat on the Board of Barclays as well) was unsustainable, it accrued faster than it could be repaid. Treasury therefore settled the loans with Barclays and took the debt in-house and arranged repayment packages that squeezed the taxpayer. Total MUA debt is @ £500M, gas purchasing shenanigans have now added to that.

£500m of debt and an asset base (generation/interconnector) that is approaching end of serviceable life (aka another £200m of capital spending to come)

[AcousticallyChallenged]

1 minute ago, CallMeCurious said:

Now you just need planning for the extension to fit them all in 😁.   Hopefully this LiFePO4 tech is safer than lithium car batteries? Don't want to get all of your heating in one go! 

Lots safer, it’s slightly heavier and less energy dense, so less popular for vehicle use. Cheaper to make too

It’s much harder to make a LiFePO4 battery angry, and they don’t go boom in the same way when they are. 

See here for comparisons: https://m.youtube.com/watch?v=Qzt9RZ0FQyM

 

[GD4ELI]

4 hours ago, AcousticallyChallenged said:

There’s all sorts of clever trickery you can do to get your money’s worth too.

Anything that involves heating things up,  immersion heaters, hot tubs etc. You can use surplus on those, and export the rest.

Timed washing machine and tumble drier runs, your washing will be sorted by the time you’re home from work.

Plus, as prices get higher, the cost savings increase. 

The other thing to bear in mind is that solar panels are warrantied to still produce a minimum of 80% of their initial output after 20-25 years depending on manufacturer. So even if the payback period is a decade, at current prices, you get cut rate power for much longer after that. 

With price rises, your payback period can also drop significantly

Very true, most days I heat the part of the house I use with a fan heater and the surplus electricity.

[TheTeapot]

https://www.manxradio.com/news/isle-of-man-news/manx-utilities-records-30-million-loss-during-2021-22/

They lost £30m.

The year before they made a £26m profit, although no one talks about that.

Pay up suckers.

[Banker]

Oil & gas prices are continuing to fall so hopefully that will feed through to lower gas prices unless they’ve purchased a large amount of gas forward at very high prices