Electricity Price Hike

[Blade Runner]

1 minute ago, Gladys said:

It's a bit more than retained profits, its the balancing figure to net assets, so there is quite a bit of capital there too I would think. 

would hope 🙂 

[Bazza Smurf]

Keeping the ongoing downward wholesale gas price in the public domain. 

[Happier diner]

8 hours ago, Bazza Smurf said:

Keeping the ongoing downward wholesale gas price in the public domain. 

What does the graph look like if you select 5y?

[Roger Mexico]

Not for the first time I appear to be the only person on the Island with access to Google:

Note that the price went over 100 GBP/thm first in July 2021, well before the invasion of Ukraine.

[Happier diner]

39 minutes ago, Roger Mexico said:

Not for the first time I appear to be the only person on the Island with access to Google:

Note that the price went over 100 GBP/thm first in July 2021, well before the invasion of Ukraine.

I have access to Google and so does @Bazza Smurf. Bazza decided to crop the graph to suit his agenda.

[Bazza Smurf]

4 hours ago, Happier diner said:

I have access to Google and so does @Bazza Smurf. Bazza decided to crop the graph to suit his agenda.

No actually I work nights and not long up. 

[Bazza Smurf]

4 hours ago, Happier diner said:

I have access to Google and so does @Bazza Smurf. Bazza decided to crop the graph to suit his agenda.

What is my agenda in your opinion?

[Two-lane]

4 hours ago, Happier diner said:

Bazza decided to crop the graph to suit his agenda.

Not really. Here is the graph from 2000 onwards.

[Bazza Smurf]

2020 will eventually be seen as not just the year that the OFT should have conducted a price investigation into MG as it was at the time, but also the year we paid over the odds for our leccie too. Sometimes truth is uncomfortable but when accused of hiding my so called "agenda", I might as well say it as I feel. 

I do have an agenda. External MUA pricing regulation by CURA. That's the agenda. Is it so bad?

Edited April 21, 2023 by Bazza Smurf

[Happier diner]

38 minutes ago, Bazza Smurf said:

What is my agenda in your opinion?

You seem to want to prove that the rise in electricity price is not justified. So you posted a graph that suggested has was back to it's normal price. 

But hey. You posted the graph. You tell us. 

[Happier diner]

33 minutes ago, Two-lane said:

Not really. Here is the graph from 2000 onwards.

Which bit of the graph did @Bazza Smurfdecide to post?

[Bazza Smurf]

7 minutes ago, Happier diner said:

Which bit of the graph did @Bazza Smurfdecide to post?

It's above. I think it was the yearly one. I look at it every day to be honest. I'm fully aware of what it was last year and before that. There was no agenda. It's down about 20 odd pence since January but is expected to rise again into the winter. 

[Bazza Smurf]

22 minutes ago, Happier diner said:

You seem to want to prove that the rise in electricity price is not justified. So you posted a graph that suggested has was back to it's normal price. 

But hey. You posted the graph. You tell us. 

I'll tell you what I think. There is no transparency when it comes to pricing or indeed how much we as individuals are paying daily towards the overall debt. There should be.

I didn't say the rise wasn't justified. At the end of the day the MUA owes us the taxpayer millions and we the taxpayer have to pay the millions back. The problem I have however is that I do not think it correct, morally or simply from a trading perspective that the amount we pay every year to the Government (us) for the MUA debt, accumulated on our behalf without our consent, should ever be variable. 

The other issue I have is that the pricing mechanism (Electricity Act) for electricity (and water and gas), but particularly electricity seems outdated. It flies in the face of the "Island Plan" and indeed the "Curran Report". 

Basically the pricing structure appears to be now heading off on a tangent with the 1975 Act and the 2017 MUA NERA report saying one thing, but the island plan and the Curran Report saying another. 

To finally chuck into the mix that the Government itself decided to take a break from it's 20 year plan to repay debt last year and then charge us more this year and onwards with no good news on the horizon is where I thought #uck this Alf, there has to be a better way. 

What's your take?

Edited April 21, 2023 by Bazza Smurf

[Happier diner]

4 minutes ago, Bazza Smurf said:

It's above. I think it was the yearly one. I look at it every day to be honest. I'm fully aware of what it was last year and before that. There was no agenda. It's down about 20 odd pence since January but is expected to rise again into the winter. 

You posted the 6m one. Which doesn't really tell the story. But fair enough. What i see is that it is still double what it was.

 

[Bazza Smurf]

2 minutes ago, Happier diner said:

You posted the 6m one. Which doesn't really tell the story. But fair enough. What i see is that it is still double what it was.

 

The question then is, were we paying a fair price when it was half of what it is now?

Once the Economic Policy Review Committee report on whether MG were charging us a fair price in 2020, then I guess we will have a better answer in relation to the MUA. 

I think you know what I think. I believe little of what I'm told. The truth is out there. It's just finding it. The debt is the issue, but debt or no debt we deserve to know where we stand. The only thing we currently know is that be will be paying more again in July.