We'll done Johnson!
Everyone is talking about energy prices over more alleged parties you've been too!
54% is the quoted figure not 46% and that is based on average consumption. As I am a high consumer, my rise will be proportionately higher because the unit cost is going up much more than the standing charge. The 54% also doesn't include rises to date which most people have already experienced.From Labour (Ed Miliband) who estimate the typical bill will rise from £1,277 to £1,865.
£1,277 x 46% = £588
£1,277 + £588 = £1,865
I mean they might be telling porkies but I thought it was only the Tories who lied
They won't.Haha… this is true. In fairness though I do think cost of living is slightly more important to people than if someone wheeled some wine into number 10 in a suitcase. I think the damage is done in any case - folk have made up their minds if he’s a baddie or not, heck they might even remember come next election.
Current storage gives us a week. Previous storage gave us 2 or 3 months which would get us over the high demand months. Because we're so limited on storage we have to pay through the nose on the open market rather than bide our time and get better deals when demand is down after the winter.
54% is the quoted figure not 46% and that is based on average consumption. As I am a high consumer, my rise will be proportionately higher because the unit cost is going up much more than the standing charge. The 54% also doesn't include rises to date which most people have already experienced.
Keep picturing Alan Partridge saluting Geordie Michael at his bedroom door. Utterly bizarre.Only been in the job half a day and Mr Hari already the news story.
They won't.
Something else will come along that will be forensically taken apart.
It may well even be the world economy.
There's something not right with how much money is being printed out with little return apart from stock market highs. If that and Crypto collapse that's all that will dominate an election.
We've been shutting down storage for a long time. This article explains why our limited storage leaves us vulnerable to changes in the wholesale price of gas, and this was from 9 years ago when our storage capacity was double what it is now.That’s wrong mate.
From natural gas we used in 2019 860 TWh and in 2020 (COVID) 809 TWh. 860/365 = 2.365 TWh per day. Storage of 41 TWh which it was before we closed large amounts of it two weeks worth give or take, so I concede my “1 week” was from memory - it was a fortnight but still the central point remains it would make no difference other than for a short-term disruption in supply.
We've been shutting down storage for a long time. This article explains why our limited storage leaves us vulnerable to changes in the wholesale price of gas, and this was from 9 years ago when our storage capacity was double what it is now.
https://www.carbonbrief.org/is-the-uks-limited-gas-storage-capacity-a-problem
The last sentence of the article was quite prescient.
Nobody is denying that it's a world wide problem. However if we compare government responses to the issue, it seems that our government is almost unique in not sharing the burden between producers and consumers. Consumers are getting fleeced whilst domestic producers are announcing record profits. We should be in a better position than most to cushion the impact due to our domestic production yet it seems to be just shareholders that are doing well out of it. Fortunately I have some shares in Shell, BP and Centrica but most people haven't, and I suspect that any additional dividend will be nowhere near my additional costs.A lack of storage gives us risk to 1 day (or a couple of days) spikes or short-term supply disruption. The derivative market provides swap/average products that allow market participants the ability to manage a few days of price spikes in any case so it’s a mute point in this day and age. That leaves storage as a counter to a short sharp shock in the supply chain.
If you look at every other country in that list who have multipliers more storage than UK even back in 2013 - tell me one that isn’t having issues with the current fuel costs. There isn’t.
Storage has its benefits to ensure supply, of that there is no doubt, but to conflate it with the current energy cost crisis, as some commentators have done particularly on the left as a stick to beat the Tories with, is I’m afraid a nonsense.