Energy bill to double from next month

gasbusters

gasbusters

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Just spoke to my neighbour who was told earlier today by his supplier his energy bill will double as his fixed deal comes to an end. He currently pays £78 for gas £76 for electric. This is a direct consequence of Brexit. The EU nations are protecting their citizens from the price rises whilst we are about to get spectacularly foooked over.


There is no place for this Brexit thread in the Combustion chamber

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gas112 said:
Dont talk nonsense brexit ffs germany has got record energy prices france also with the government attempting to step in at the weekend now lost ten nuclear power stations and blackouts looking likely .
Click to expand...

https://www.thenational.scot/news/19813158.five-times-brexiteers-promised-uk-cheaper-energy-bills/

THE average household energy bill in the UK is set to increase by at least £600 by the spring, energy and consumer groups have warned.

After soaring gas prices hit energy suppliers hard and saw many go under during 2021, experts have warned of runaway household bills in 2022.

The energy price cap is currently set at £1277 by Ofgem, but this is set to rise substantially in the new year.

READ MORE: Boris Johnson's Brexit promise to slash gas prices comes back to haunt him

The UK has elected to remain outside the EU Internal Energy Market, even though a considerable amount of the country’s energy needs are met by Europe. As a result, the UK has lost significant control over prices, losing the ability to participate in the energy auctions that determine the cost of fuel

According to EU officials, 20 member countries have already taken action to reduce the financial strain on households. For example, Italy and Portugal have both cut energy taxes and lowered the sales tax on household energy by half, from 21% to 10%.

But the UK Government has not implemented similar measures. Here are five times Brexiteers promised cheaper energy bills
 
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And if you actually check prices they are paying the same if not more than us EU mainly germany thought they could play hard ball with the russians regards nordstream pipeline which is blowing up in their face with russia saying fek you we are diverting majority of gas to china
 
@gasbusters A boyo. You live in what was one of the most industrious cities in Britain.

Instead of whinging about how we should have stayed in the EU why don’t you rally around your local community, council etc. and try and get some small scale manufacturing back running.

Just think instead of buying the cheap Chinese toot from Amazon we could make better ourselves.
 
GL Berks said:
@gasbusters A boyo. You live in what was one of the most industrious cities in Britain.

Instead of whinging about how we should have stayed in the EU why don’t you rally around your local community, council etc. and try and get some small scale manufacturing back running.

Just think instead of buying the cheap Chinese toot from Amazon we could make better ourselves.
Click to expand...
Agree, we were an industrious nation, we built good stuff, now we sold it all to the Germans. We have warehouses and factories sitting empty across the nation. Loads of brits out of work…….just seems like a simple solution…..the buildings are there the work force is there……just needs someone with deep pockets to get the ball rolling :rolleyes:
 
gasbusters said:
https://www.thenational.scot/news/19813158.five-times-brexiteers-promised-uk-cheaper-energy-bills/

THE average household energy bill in the UK is set to increase by at least £600 by the spring, energy and consumer groups have warned.

After soaring gas prices hit energy suppliers hard and saw many go under during 2021, experts have warned of runaway household bills in 2022.

The energy price cap is currently set at £1277 by Ofgem, but this is set to rise substantially in the new year.

READ MORE: Boris Johnson's Brexit promise to slash gas prices comes back to haunt him

The UK has elected to remain outside the EU Internal Energy Market, even though a considerable amount of the country’s energy needs are met by Europe. As a result, the UK has lost significant control over prices, losing the ability to participate in the energy auctions that determine the cost of fuel

According to EU officials, 20 member countries have already taken action to reduce the financial strain on households. For example, Italy and Portugal have both cut energy taxes and lowered the sales tax on household energy by half, from 21% to 10%.

But the UK Government has not implemented similar measures. Here are five times Brexiteers promised cheaper energy bills
Click to expand...

So the EU countries have exacted tax breaks etc, but you believe that leaving the EU has caused the UK to pay higher import costs?

Itsly and Portigal have reduced Sales Tax from 21% to 10%. Do they pay Sales Tax instead of VAT, or is that what they are referring to ? Regardless UK VAT on domestic energy is 5%.

What the UK Govt COULD do is remove or reduce the Climate Levy, which I believe is 25.%! TBH, I am not sure if that is 25% OF the cost or on addition to the basic cost. I am going to have to check now
 
https://www.current-news.co.uk/news...-as-the-impact-of-brexit-continues-to-be-felt

Electricity prices in Britain have soared at the beginning of the month, with the post-Brexit market arrangements contributing to the spikes.

The maximum day ahead price in the first week of March hit £683/MWh, which is more than three times the high of £191.55/MWh seen in the first week of March for the last six years, according EnAppSys.

Additionally, in the first three months of 2021, prices in the day ahead market have been generally higher than in the same period in the previous six years.

The first week of March is traditionally a period of high demand, as the triad season – which runs from November to February and sees companies encouraged to reduce consumption – ends, leading to higher evening peaks.

But 2021 has seen a much higher jump that normal due to a number of factors, according to Phil Hewitt, director of EnAppSys. This includes low levels of wind generation for the time of year, which saw Britain’s electricity market become more dependent on imports.

“On March 2 and 3, the interconnector capacity auctions for the evening peak resulted in high prices. In these auctions the interconnectors were the marginal source of power, which meant that they could set the market price. The high capacity auction prices mean that to make a profit, the purchasers of the capacity need to clear at a price higher than the cost of the capacity and the price they can buy power at in France, Belgium or the Netherlands.

“Now that the GB market has left the EU internal energy market, it has left the day-ahead market coupling arrangements. The IEM day-ahead market coupling process with its implicit allocation of capacity on the interconnectors has meant that power flowed from the continent to the GB market at a much lower price.

"However, with the interconnectors now falling back to explicit auctions, this has resulted in extreme prices for capacity when the GB market is under stress.
 
It’s not surprising a Scottish newspaper would put the entire blame on brexit.

Brexit certainly a factor, there’s no doubt about that, brexit has left the UK more vulnerable to market forces. We get a lot of energy from mainland Europe and it’s not surprising EU countries will prioritise the 27 before UK.

One primary factor is the UK govt failed to replace gas storage infrastructure so our storage capacity has fallen dramatically, we have 2% storage compared to around 25% in Europe.

France is sitting pretty, it gets over 70% from nuclear.

when Hinckley point comes on stream the consumer will be ripped off by paying stupidly high prices as a result of the cr@p govt deal.



UK govts have spent decades flogging public infrastructure for short term gain…..which leaves us ever more exposed to market failure.

I’m no socialist, but it make sense for a country to have public ownership of critical infrastructure like energy…..private companies go bust, they don’t care if it leaves the consumer with no power.
 
According to the Russians, the Germans are reselling Russian gas and this is what is pushing up energy prices.
 
We are on the variable since coimg off a couple of months ago.

Not sure what to do

Like the great expert Martin, I too can only guess what will happen next.

ATM, we intend to take the risk and remain on the variable.



OP, people like you do make me, ROFL. :D
 
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