Energy price cap forecast for April 2023 = £6,000 a year

Making all new renewable projects UK owned and energy produced non profit would be a start. It's going to be difficult to reprivatise the existing energy sector what we need is legislation to make sure that not a penny of profit from new energy projects like offshore wind and solar goes overseas
 
Making all new renewable projects UK owned and energy produced non profit would be a start. It's going to be difficult to reprivatise the existing energy sector what we need is legislation to make sure that not a penny of profit from new energy projects like offshore wind and solar goes overseas

Would it be difficult?

The cost (allegedly) to re-nationalise water would be £3b - that seems like a bargain to me.
 
Wow, that sounds really cheap, is it roughly 10% of the cost if the shambolic track & trace or test & trace or whatever it was supposed to be?

It's probably so low as there isn't much profit in water when you factor in the investments that need to be made. I am pro-nationalisation but I'd imagine it would end up costing billions more if the Gov started investing. But that would create jobs etc so maybe not all bad. They are happy to spaff £100b on HS2 that hardly anyone wants. Imagine if that had been spent building reservoirs and renewing the pipes to stop leaks.
 
And there you have it, my point precisely.

Carriers buy from suppliers and sell to customers, to make money. Why? What value does that provide to the customer?

The current arrangement for energy supply is wrong and needs to be urgently addressed.

I suppose the answer would be a nationalised supply side for all new renewables. That could then be sold to the public at a reduced rate negating the global energy markets. Any additional energy could be sourced from the markets.

That might be a quick and cost free route to nationalisation - it would effectively put the other companies out of business as they couldn't compete.

You could also renegotiate the licences for north sea oil... but I imagine that would be EXPENSIVE!
 
I suppose the answer would be a nationalised supply side for all new renewables. That could then be sold to the public at a reduced rate negating the global energy markets. Any additional energy could be sourced from the markets.

That might be a quick and cost free route to nationalisation - it would effectively put the other companies out of business as they couldn't compete.

You could also renegotiate the licences for north sea oil... but I imagine that would be EXPENSIVE!
Nationalisation is one answer, but unlikely I think, a not for profit venture another, or a shorter, quicker fix would be the state buying a majority share in emery companies, like in France.

But it seems the government are doing literally nothing to address the issue.
 
I get that but I wouldn't expect a global company to invest it's global profits from other business into one small section of it's portfolio just to keep prices down for the Brits.
Because it is an artificial split. They are split to protect themselves, not customers. They are the same companies, they should be using the profit making part to offset the loss making part. Every other company does it. Instead we guarantee them a profit instead of allowing them to make a loss.
 
We've got to look to the future. This economic model is failing. A big push on green, nationally owned us what is required.

For now the government should let the suppliers go bust and take over the running of supply, buying in whatever we need. This should have been the decision taken at the time of the energy suppliers failing originally.

We spent £2.2bn bailing out Bulb, let them fail when we could have bought the top 5 suppliers for £2.8bn according to reports circulating.

If we're going to go the nuclear route, one that I don't particularly agree with, then it's got to be nationally owned. It's an essential industry which shouldn't be in the hands of the private sector.

There's not enough money being spent on local green energy. We could have way more solar and local wind with a half decent government subsidy programme and look at long term rather than short, the only distance apparently available to private investors.
 
Some people will be turning the heating off going back to the 1950s before houses had central heating. Maybe re open chimneys and go hunting for wood and anything that can burn. Will this winter have a special name like we had Winter of Discontent for 1978/79.

Horrible to say but more older people and sick people will no longer be with come the Spring. Will the media and Governement have daily death graphs as they did for Covid?
 
That's what they are doing. The "charge what they want" isn't a bunch of execs going "I know, we'll charge £6k next increase, we'll all make loads!"

The cap is set based on the cost to serve the average user. It covers the cost of buying the electricity units and amount of gas, the cost of running bulb and other failed suppliers (because the cap before want high enough for them to survive), policy costs like the green levy's, profit which is about 2% and why they exist in the first place, and the network costs of getting the supply to you in the first place, and maintaining that supply. Easy for those profits to be wiped out if people use more than expected and tbey need to buy extra energy to cover but price has rocketed. The cap exists to stop them saying it'll be £8k for the svr and making 30% profit margins. Running at a 1.9% profit margin is wafer thin. When people say freeze the cap etc, need to consider how that will be paid for because that delta will need funding - they'll still have to buy the energy at market rates so if they can't bill you for it, who pays? The treasury? Plus there will then be a number of people trying to control bills who have taken the fix like you have mentioned, so would then be locked into an expensive deal with exit fees of £300 or so to get out so how do you support them?

You're looking at a fix so what you're seeing is the likely realistic cost at current prices to allow them to buy ahead based in your usage, and gamble that there will be more increases to make it worth locking in. Your other option is to remain on svr which will be initially a lot lower than that but who knows which direction it will go in?

It's crap and I've no idea how lower income people are flint to survive it, something needs doing but needs some fresh ideas. Or a huge pot of cash.
I work in an RAF power station fueled by gas and the cost of gas has doubled not quadrupled
 
In reality not even this government is stupid enough to allow the cap to go that high. If average bills hit £500 a month it would cause protests, riots, civil disobedience and obviously non payment of bills on a scale that would completely swamp the police -such as they are - and the army.

The obvious solution is already out there as described by the lib dems and Labour. Freeze the cap.
Have you seen Liz Truss?😀
 
I suppose the answer would be a nationalised supply side for all new renewables. That could then be sold to the public at a reduced rate negating the global energy markets. Any additional energy could be sourced from the markets.

That might be a quick and cost free route to nationalisation - it would effectively put the other companies out of business as they couldn't compete.

You could also renegotiate the licences for north sea oil... but I imagine that would be EXPENSIVE!
we need to be self sufficient in energy as a nation with all energy at not for profit rates, uk owned renewables is the only answer
 
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