EDF Energy Price Rises

Discussion in 'Current Events' started by garybUK, Jul 25, 2008.

  1. garybUK Guest

    garybUK

    Joined:
    Jun 3, 2002
    #1
    Working in the energy industry this is good news that EDF were the first of the 'Big Six' to announce but with others likely to follow, have you changed your habits yet to reduce energy bills?

    Has anyone seen the investment into Smart Meters that will automatically control thermostats and electricity systems to reduce consumption ?

    Is anyone sick of the fact they correlate Gas prices with the price of Oil for no real reason?

    And should the UK/Europe invest more in Nuclear to offset the ever increasing price of Electricity Generation?

    Link: http://news.bbc.co.uk/1/hi/business/7525105.stm
     
  2. BoyBach macrumors 68040

    BoyBach

    Joined:
    Feb 24, 2006
    Location:
    UK
    #2
    It's yesterdays news concerning EDF that I find more vexing. They are buying a large chunk of British Energy, which effectively means that the French government will be in control of our future nuclear energy output.

    At the risk of sounding a protectionist, I believe that a country should be able to produce it's own food, steel and energy with minimal outside intervention.
     
  3. arkitect macrumors 601

    arkitect

    Joined:
    Sep 5, 2005
    Location:
    Bath, United Kingdom
    #3
    Well changing our habits at home has not helped us much… We end up using less electricity/gas and we still pay more every month. :eek:

    Right now the price of oil is a convenient scapegoat (Not saying it isn't a factor…).
    Just wait until the quarterly results come out again:
    They'll be declaring huge profts (as per usual)… Huge bonuses for the top (probably a few thousand lay-offs to keep the City happy)

    The government will trot out the sound bites how energy companies must do more to help…

    Repeat cycle ad nauseum.
    Cynical? Yes, I am.
    :(
     
  4. Carrot007 macrumors regular

    Carrot007

    Joined:
    Sep 18, 2006
    Location:
    Yorkshire
    #4
    I find your use of likely quite disturbing? They are all going to do it, probably much quicker now someone else has taken the first step.

    To be honest unless you are trying to confuse companies into not billing you due to admin chaos then changing supplier is pretty pointless.

    Yes you can save X. But only if all suppliers never chaneg their prices again. It's all much of a muchness.

    I'll stay with npower since I work there and they make it worthwhile, fwiw I would not recomend them, nor any supplier to be honest!

    Actually I have tried to reduce my electic usage and have been turning things off when possible. To be honest it really seems to make little differnce. I have my usage going back to 2002 and I generally use about 19 units a day.

    Gas on the other hand is problematic, Since I have an inside meter it never gets read. They then estimate I have used 20 units in the quarter! This is all fine and well but then the 2 yearsly mandatory check happens and they have read my meter. They will probably disgard the actual read because they have been estimating it for so long. Not that this is good as it will have to be paid for at some time and gas it just getting more and more expensive, put it off and pay more! Ahh well, I have given them actual reads but they still come back every quarter and estimate a ridiculous low ammount.

    Maybe I can enslave some hasmters to power my mac ;-)
     
  5. BoyBach macrumors 68040

    BoyBach

    Joined:
    Feb 24, 2006
    Location:
    UK
    #5
    http://news.bbc.co.uk/1/hi/business/7533389.stm
     
  6. theBB macrumors 68020

    theBB

    Joined:
    Jan 3, 2006
    #6
    A lot of long term wholesale natural gas contracts have a formula that ties the price to oil.

    Nuclear energy plants are very expensive to build, so it takes a very long time to amortize. The government would have to guarantee a high price for electricity for decades to entice companies to build more of them. I don't know if the current prices are high enough, but assuming it is, are you willing to be locked into these prices forever even if the oil and gas prices go down sometime in the future?
     
  7. arkitect macrumors 601

    arkitect

    Joined:
    Sep 5, 2005
    Location:
    Bath, United Kingdom
  8. G4DP macrumors 65816

    Joined:
    Mar 28, 2007
    #8
    There claim that prices are at a record high are actual BS. prices have only gone up 40% not the 70% that they claim. Also the price per therm is only 215 cents compared to 300 cents in November 2006. All it is is to make more money, I don't mind paying a fair price as everyone should, the recent price increase is a step to far.

    In total with the two companies recent rises, we have seen our next bills be 35% and 9% more respectively. Thankfully we live on the top floor of a block of flats so we get all the rising air.
     
  9. garybUK thread starter Guest

    garybUK

    Joined:
    Jun 3, 2002
    #9
    Purchase price of Gas from interconnectors from Russia / Norway = ~£1 per therm, BG have been selling it at around 60p a therm, now like any other business they can't sell energy at a loss. It's a lot to do with demand from emerging markets, we don't have cheap fuel from Morecombe gas fields anymore.
     
  10. BoyBach macrumors 68040

    BoyBach

    Joined:
    Feb 24, 2006
    Location:
    UK
    #10
    Centrica has reported just under £1 billion in profits for the first half of 2008, so no wonder the poor lambs had to put up prices by 35% with immediate effect. "Reasonable profitability", my arse! :rolleyes:
     
  11. garybUK thread starter Guest

    garybUK

    Joined:
    Jun 3, 2002
    #11
    Well if you knew anything before you comment, Centrica's profits are largely coming from their storage and generation. Tax from Storage and Generation is around 40% so around £400m of that profit will be filling out the Exchequers pockets!!
     

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