Electricity Price Hike

[Ativa]

6 hours 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.

It very clearly wasn’t someone asking the question.

It was someone making the point that if you show the five year graph, the “point” being made would have a lot less validity 

[Bazza Smurf]

2 minutes ago, Ativa said:

It very clearly wasn’t someone asking the question.

It was someone making the point that if you show the five year graph, the “point” being made would have a lot less validity 

I assume people on here know what it was and when it was. I shouldn't assume. I'm on the customers side. I meant no harm. 

 

[Ativa]

11 minutes ago, Bazza Smurf said:

I assume people on here know what it was and when it was. I shouldn't assume. I'm on the customers side. I meant no harm. 

 

No problem.

It is absolutely right that someone is on the customers side, but we do also have to look at the suppliers side.

We are a very small market and our prices really aren’t that outlandish when compared to the rest of Europe or Britain over the last 18 months are they?

[Bazza Smurf]

2 minutes ago, Ativa said:

No problem.

It is absolutely right that someone is on the customers side, but we do also have to look at the suppliers side.

We are a very small market and our prices really aren’t that outlandish when compared to the rest of Europe or Britain over the last 18 months are they?

I try not to get too involved in the pricing side. What I'm trying to say is that there needs to be reviews into the cost of electricity for the user. Part of the review needs to focus on the wholesale price of gas, the asset value, infrastructure costs so on so forth. Generating electricity, pumping sewerage and providing a clean water supply is an expensive and technical business.

Should we be benchmarking against rip off Britain? I'm not sure. I think we should be better than them. I'm no expert, CURA are however. A referee to see fairness for all. That's what I'm pushing for. I'm making progress. 

[finlo]

9 minutes ago, Ativa said:

Our prices really aren’t that outlandish when compared to the rest of Europe or Britain over the last 18 months are they?

Even in ripoff Britain off peak tariffs have been as little as 1.5 pence per kWh until recently.

You couldn't even begin to imagine that here!

[Bazza Smurf]

6 minutes ago, finlo said:

Even in ripoff Britain off peak tariffs have been as little as 1.5 pence per kWh until recently.

You couldn't even begin to imagine that here!

2017 MUA NERA report identifies these situations. Thank you for highlighting it. 

[Ativa]

7 minutes ago, finlo said:

Even in ripoff Britain off peak tariffs have been as little as 1.5 pence per kWh until recently.

You couldn't even begin to imagine that here!

Have they?

Where is that please 

[finlo]

1 minute ago, Ativa said:

Have they?

Where is that please 

In the UK.

[Ativa]

6 minutes ago, finlo said:

In the UK.

Any links? (To what you are saying, not just between us and the UK since you are in smart arse mode)

Edited April 21, 2023 by Ativa

[emesde]

And In total 40 energy suppliers have gone bust since 2018 in the UK 

[finlo]

1 minute ago, Ativa said:

Any links? (To what you are saying, not just the UK since you are in smart arse mode)

No idea how to do links but surely they would only show current (no pun intended) pricing?

[Ativa]

2 minutes ago, finlo said:

No idea how to do links but surely they would only show current (no pun intended) pricing?

So “no” then?

Thanks for your input!

[Gladys]

6 minutes ago, emesde said:

And In total 40 energy suppliers have gone bust since 2018 in the UK 

Not sure they are really suppliers (ie generators) more likely retailers.

The UK energy retail market is not a true market, they are all selling the same product from the same generator.  It was a  market that introduced false competition.  Another Thatcher hangover I'm afraid.  Theirs has lasted over 30 years, we have had the power station debacle and debt for a little less than that. 

 

Edited April 21, 2023 by Gladys

[emesde]

4 minutes ago, Gladys said:

Not sure they are really suppliers (ie generators) more likely retailers.

The UK energy retail market is not a true market, they are all selling the same product from the same generator.  It was a  market that introduced false competition.  Another Thatcher hangover I'm afraid.  Theirs has lasted over 30 years, we have had the power station debacle and debt for a little less than that. 

 

That was my point. These "sales" companies were set up were quoting all sorts of cheap prices to gain a customer base. However when the production and wholesale prices started to rise they could no longer negotiate the very low prices to be able to offer unrealistic prices to customers and hence they were forced to lose huge sums or go out of business. The low prices we saw were not real prices at all and millions of customers were left stranded. The system we have here is much fairer despite some crying it should be cheaper at every opportunity. What ever the price here they would say we are being ripped off. 

[Gladys]

23 minutes ago, emesde said:

That was my point. These "sales" companies were set up were quoting all sorts of cheap prices to gain a customer base. However when the production and wholesale prices started to rise they could no longer negotiate the very low prices to be able to offer unrealistic prices to customers and hence they were forced to lose huge sums or go out of business. The low prices we saw were not real prices at all and millions of customers were left stranded. The system we have here is much fairer despite some crying it should be cheaper at every opportunity. What ever the price here they would say we are being ripped off. 

Sorry, I thought you were making a different point. 

The UK consumer energy market has been borked for a long time and it is inevitable that the chickens would come home to roost.  In reality, the only scope for price variation between the various retailers was how they managed their own internal costs.  It was never going to be sustainable when their only source was exactly the same source of their competitors.  Then they had the wizzo idea of offering a switch facility, I mean really? 

I was living in the UK when this really took off, and could not understand how this retailer or that could offer me a different price for the exact same thing, delivered through the exact same cable or pipe.  

Edited April 21, 2023 by Gladys