Energy Prices - are they taking the piss???



chunksafc said:
Having an argument with EDF at the minute as I signed up to their 12 month budget direct debit scheme, which clearly stated you spread the cost over 12 months. Which is how i have always known it.

Use more in winter and rack up a debit balance then use less in summer and it balances itself out.

However EDF take my direct debit each month and then take a further payment if I have used more than the direct debit amount. I asked what happens if I'm in credit each month and the answer was that they would reduce the DD and refund the money.

When I queried this and asked how I'm supposed to build up credit over the summer to use in the winter they reply with its part of the direct debit guarentee?

I have argued that they have based this on estimated readings as the smart meter they installed hasn't worked since it was put in and I'm still waiting for it to be fixed, despite me emailing and ringing them twice a month for the past 3 months about it.
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Put an amount of money in s different account over the summer and use it in winter.
monkeytassle said:
What's the point in ofgem? Like really.
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People can blame ofgem and not the government. Ofgem civil servants will be safe when the Tories have their public sector bonfire.
 
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monkeytassle said:
What's the point in ofgem? Like really.
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Don’t often just regulate the suppliers and not the source so can only look after what we pay .

Unsure who had the power over the costs of shipping the gas.

I still don’t know why VAT has been kept at 5% , government must be raking it in with all the increased costs .

The standing charge needs looking into as well as this shouldn’t be rising with the cost of gas and electric .
 
monkeytassle said:
They're there to protect the consumer. Clearly failing to do that.
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How do you want them to "protect the customer"?

The cap needs to be viable for the suppliers to provide energy. If the cap is too low then the energy providers will go bust because they are forced to sell for less than they are buying at. This very thing happened less than a year ago and 28 companies folded. As a direct result of these companies going under their customers ended up worse off. It is not as simple as enforcing a lower rate.

In spite of the common misconception. Energy suppliers are not making a killing on retail sales.
 
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Ciro_DiMarzio said:
You've answered your own question there.
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One of the Brexit benefits if I remember correctly dropping vat on energy.
Northern_chappy said:
How do you want them to "protect the customer"?

The cap needs to be viable for the suppliers to provide energy. If the cap is too low then the energy providers will go bust because they are forced to sell for less than they are buying at. This very thing happened less than a year ago and 28 companies folded. As a direct result of these companies going under their customers ended up worse off. It is not as simple as enforcing a lower rate.

In spite of the common misconception. Energy suppliers are not making a killing on retail sales.
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The govt can do a lot more to help but appear reluctant to do so.
The Rough gas field storage should never have been closed, we could be storing our own excess production instead of exporting to Netherlands.
 
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Northern_chappy said:
How do you want them to "protect the customer"?

The cap needs to be viable for the suppliers to provide energy. If the cap is too low then the energy providers will go bust because they are forced to sell for less than they are buying at. This very thing happened less than a year ago and 28 companies folded. As a direct result of these companies going under their customers ended up worse off. It is not as simple as enforcing a lower rate.

In spite of the common misconception. Energy suppliers are not making a killing on retail sales.
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www.independent.co.uk

British Gas owner Centrica profits increase five-fold as energy bills soar

Company reinstates dividend after suspending it for three years
www.independent.co.uk www.independent.co.uk
 
Northern_chappy said:
How do you want them to "protect the customer"?

The cap needs to be viable for the suppliers to provide energy. If the cap is too low then the energy providers will go bust because they are forced to sell for less than they are buying at. This very thing happened less than a year ago and 28 companies folded. As a direct result of these companies going under their customers ended up worse off. It is not as simple as enforcing a lower rate.

In spite of the common misconception. Energy suppliers are not making a killing on retail sales.
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While there are many factors affecting prices which are out of their control, Ofgem have exacerbated the situation to a certain degree. Supply licenses have been dished out like drugs at a rave to people who have failed and phoenixed multiple times in an industry where profit margins (historically) are around 1%.
 
Wouldn’t have been as bad if the standing charge went up 20% but doubled overnight and risking in future… taking the piss
Probably paying for all them SMET1’s meters that don’t work anymore was better off with old
School meters
 
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Just written the following to a numpty in the house of Lords

Dear Baroness Foster

I note with great interest your response to a tweet on a prominent social media platform. The intial post to which you responded was from @MatthewStadlen:

"Is it really true that Boris Johnson and Nadhim Zahawi are on holiday on the same day that the Bank of England forecasts that we're going into recession? Impeccable timing"

Your response:

"the Bank (House emoji) of England haven't said that ! Listen carefully to what they have said !! "

I draw your attention to the The Bank of England’s Monetary Policy Committee (MPC) report from August 2022. The word "recession" was used nine times. I cite all mentions below:

1) The United Kingdom is now projected to enter recession from the fourth
quarter of this year. Real household post-tax income is projected to fall sharply in 2022
and 2023, while consumption growth turns negative

2) This latest rise in gas prices, and to a lesser extent, a tightening infinancial conditions, have led to another significant deterioration in the outlook for
world activity, with economies in Europe, including the UK, particularly severely affected. The UK is projected to enter recession from 2022 Q4.

3) Abstracting from temporary factors, underlying UK GDP growth has slowed and the
UK economy is forecast to enter recession later this year.

4) In the alternative projection in which energy prices follow their downward-sloping
futures curves throughout the forecast period, the UK economy still enters
recession

5) Key judgement 2: given the sharp decline in household real incomes, consumer
spending falls over the next year and the UK economy enters recession

6) In the alternative projection in which energy prices follow their downward-sloping futures
curves throughout the forecast period, the UK economy still enters recession,

7) In projections conditioned on the alternative assumption of constant interest rates at
1.75%, activity is stronger than in the MPC’s forecasts conditioned on market rates. The
UK economy still enters recession, however, as the main driver of the contraction in output
is the sharp fall in real incomes

8) . As in the baseline projection, the UK economy enters recession
later this year

9) If energy prices did follow their futures curves over the whole forecast period, CPI
inflation would be around 1 percentage point and ½ percentage point lower at the
year two and three points respectively than in the baseline projection (Table A).
That reflects the contribution from energy prices being negative at those points
(Chart 1.5).
This would weigh less heavily on households’ real incomes and spending and so
GDP would be materially higher than in the baseline projection, though the UK
economy still enters recession later this year.

You can use the following link as a reference:

https://www.bankofengland.co.uk/monetary-policy-report/2022/august-2022

Please explain how you come to the conclusion that the Bank of England and the MPC "haven't said this".

I am cc'ing my local MP to make sure this discourse is recorded.

I very much look forward to your response.
 
monkeytassle said:
Just written the following to a numpty in the house of Lords

Dear Baroness Foster

I note with great interest your response to a tweet on a prominent social media platform. The intial post to which you responded was from @MatthewStadlen:

"Is it really true that Boris Johnson and Nadhim Zahawi are on holiday on the same day that the Bank of England forecasts that we're going into recession? Impeccable timing"

Your response:

"the Bank (House emoji) of England haven't said that ! Listen carefully to what they have said !! "

I draw your attention to the The Bank of England’s Monetary Policy Committee (MPC) report from August 2022. The word "recession" was used nine times. I cite all mentions below:

1) The United Kingdom is now projected to enter recession from the fourth
quarter of this year. Real household post-tax income is projected to fall sharply in 2022
and 2023, while consumption growth turns negative

2) This latest rise in gas prices, and to a lesser extent, a tightening infinancial conditions, have led to another significant deterioration in the outlook for
world activity, with economies in Europe, including the UK, particularly severely affected. The UK is projected to enter recession from 2022 Q4.

3) Abstracting from temporary factors, underlying UK GDP growth has slowed and the
UK economy is forecast to enter recession later this year.

4) In the alternative projection in which energy prices follow their downward-sloping
futures curves throughout the forecast period, the UK economy still enters
recession

5) Key judgement 2: given the sharp decline in household real incomes, consumer
spending falls over the next year and the UK economy enters recession

6) In the alternative projection in which energy prices follow their downward-sloping futures
curves throughout the forecast period, the UK economy still enters recession,

7) In projections conditioned on the alternative assumption of constant interest rates at
1.75%, activity is stronger than in the MPC’s forecasts conditioned on market rates. The
UK economy still enters recession, however, as the main driver of the contraction in output
is the sharp fall in real incomes

8) . As in the baseline projection, the UK economy enters recession
later this year

9) If energy prices did follow their futures curves over the whole forecast period, CPI
inflation would be around 1 percentage point and ½ percentage point lower at the
year two and three points respectively than in the baseline projection (Table A).
That reflects the contribution from energy prices being negative at those points
(Chart 1.5).
This would weigh less heavily on households’ real incomes and spending and so
GDP would be materially higher than in the baseline projection, though the UK
economy still enters recession later this year.

You can use the following link as a reference:

https://www.bankofengland.co.uk/monetary-policy-report/2022/august-2022

Please explain how you come to the conclusion that the Bank of England and the MPC "haven't said this".

I am cc'ing my local MP to make sure this discourse is recorded.

I very much look forward to your response.
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Are these people compulsive liars, or just thick as fuck?
Or both?
 

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