Funds Insider - Opening the door to funds

Welcome to the Citywire Funds Insider Forums, where members share investment ideas and discuss everything to do with their money.

You'll need to log in or set up an account to start new discussions or reply to existing ones. See you inside!

Notification

Icon
Error

Energy Costs
Lindisfarne
Posted: 22 August 2022 10:25:49(UTC)
#1

Joined: 27/06/2014(UTC)
Posts: 813

Here are, in my view some good comments, by the Boss of Octopus Energy.

Energy.https://www.bbc.co.uk/news/business-62630787

I thought it was a good point about Customers/Firms carrying the cost of a war.

Speaking to friends yesterday, I think a lot of people I know, could not possible absorb the figures that are being tossed around.

What do others think?
You have to change your life
Posted: 22 August 2022 11:46:06(UTC)
#2

Joined: 17/11/2021(UTC)
Posts: 2,194

Thanks: 730 times
Was thanked: 1798 time(s) in 972 post(s)
I find Greg Jackson's proposals an affront to any fair solution to the crisis.

There are two types of energy retailer - the ones now harvesting outrageous profits, like Octopus energy, and the ones bailed out by the Govt. Both want their business subsidised by Govt. Octopus - who deal in renewable energy - plead a particularly noisome case. Why is the "price" of wind and sun in lockstep with that of gas? Because it's allowed to be.

The UK already has a broken housing market because of the baseline in LHA, leading to a market where the tenant does not care what the landlord charges because they don't foot the bill. OK for tenants, ideal for landlords.
The virtue-signalling boss of Octopus wants a similar scheme for the energy market.

That's my two cents.
5 users thanked You have to change your life for this post.
Lindisfarne on 22/08/2022(UTC), ANDREW FOSTER on 22/08/2022(UTC), Martina on 22/08/2022(UTC), Arnoldy on 24/08/2022(UTC), magic beans on 27/08/2022(UTC)
Bulldog Drummond
Posted: 22 August 2022 11:50:29(UTC)
#3

Joined: 03/10/2017(UTC)
Posts: 6,253

Thanks: 2935 times
Was thanked: 11838 time(s) in 4405 post(s)
You have to change your life;235471 wrote:

There are two types of energy retailer - the ones now harvesting outrageous profits, like Octopus energy, and the ones bailed out by the Govt. .

I had an email recently from Octopus in which they said that they had never made a profit, and were not making one now.
2 users thanked Bulldog Drummond for this post.
Lindisfarne on 22/08/2022(UTC), bédé on 23/08/2022(UTC)
Lindisfarne
Posted: 22 August 2022 12:12:43(UTC)
#6

Joined: 27/06/2014(UTC)
Posts: 813

Bulldog Drummond;235473 wrote:
You have to change your life;235471 wrote:

There are two types of energy retailer - the ones now harvesting outrageous profits, like Octopus energy, and the ones bailed out by the Govt. .

I had an email recently from Octopus in which they said that they had never made a profit, and were not making one now.


Likewise.
I have been with them almost 4 years now (only 50,000) when I "joined". I have always found them honest, giving good service, and to me, a well rum outfit. The CEO's comments are always worth reading, as are the blogs on their site. The info on my personal dashboard, also is first rate.

Anything to help the general populace, must be good.
3 users thanked Lindisfarne for this post.
Bulldog Drummond on 22/08/2022(UTC), Tim D on 22/08/2022(UTC), gillyann on 27/08/2022(UTC)
Ian Eccles
Posted: 22 August 2022 12:17:52(UTC)
#10

Joined: 04/07/2021(UTC)
Posts: 1,080

Thanks: 314 times
Was thanked: 1818 time(s) in 752 post(s)
Like it or not Mr. Jackson has a point.
The latest Government scheme which will be announced in coming weeks is to enable households to get discounts on electricity bills if they cut their use at peak times.
It is understood the service is likely to apply to homes which have smart meters installed.
It just shows how much the government is out of touch with the energy industry, having a smart meter doesn't mean your supplier can read the meter because there is no standardisation within the industry.
My meter was installed by Scottish Power but when my tariff ended I changed to a cheaper supplier , they cannot read my meter therefore I send them my reading monthly via the internet.
Although I have a smart meter the new scheme will be no benefit to me.
4 users thanked Ian Eccles for this post.
Nigel Harris on 22/08/2022(UTC), Tim D on 22/08/2022(UTC), Lindisfarne on 22/08/2022(UTC), bédé on 23/08/2022(UTC)
Bulldog Drummond
Posted: 22 August 2022 12:46:56(UTC)
#12

Joined: 03/10/2017(UTC)
Posts: 6,253

Thanks: 2935 times
Was thanked: 11838 time(s) in 4405 post(s)
BTL comments in the press have for a long time been saying that a Smart Meter allows energy firms to use dynamic pricing and throttle or cut you off at will. We were told that we were conspiracy theory nutters, climate change deniers, and that such things would never happen. Personally, I'm going to resist having one until they are made mandatory.
6 users thanked Bulldog Drummond for this post.
DMC on 22/08/2022(UTC), SoBo65 on 22/08/2022(UTC), SF100 on 22/08/2022(UTC), bédé on 23/08/2022(UTC), Captain Slugwash on 28/08/2022(UTC), Foxtrot on 29/08/2022(UTC)
Ian Eccles
Posted: 22 August 2022 13:00:32(UTC)
#13

Joined: 04/07/2021(UTC)
Posts: 1,080

Thanks: 314 times
Was thanked: 1818 time(s) in 752 post(s)
Bulldog Drummond;235483 wrote:
BTL comments in the press have for a long time been saying that a Smart Meter allows energy firms to use dynamic pricing and throttle or cut you off at will. We were told that we were conspiracy theory nutters, climate change deniers, and that such things would never happen. Personally, I'm going to resist having one until they are made mandatory.


Some suppliers won't take you on these days unless you install their meter or have an existing meter, it's a similar affair with banking, the best rates ( that being a joke ) are online or app based ,they are slowly but surely forcing the population onto the internet basically because they can reduce their troublesome workforce and save money.
2 users thanked Ian Eccles for this post.
Easyrider on 22/08/2022(UTC), Tyrion Lannister on 26/08/2022(UTC)
andy mac
Posted: 22 August 2022 13:06:22(UTC)
#14

Joined: 12/02/2016(UTC)
Posts: 1,264

Thanks: 1052 times
Was thanked: 1299 time(s) in 633 post(s)
I agree with BD
I was speaking to the chairman of a trust /charity that tries to help out
He pointed out that in the local area they had seen a 400% increase in requests for help

His response was well wait and see how they ( government) and utilities try to fix it
The best thing to do was sign up for the cannot pay will not pay protest as that will make them sit up and listen

He said it was back to the late 70s
His people were waiting to see the responses this week and after the new prime minster bounce

He said his £400 help and £300 OAP allowance were ear marked to go back into the pot and he suggested that locally identifying cases where people are struggling and paying off some of their payments would be useful as it would be targeted
He also pointed out that some people will not ask for help and to be on the look out for those people that are in your community

Now I know that this will not meet the approval of some of the posters on here but it will at least make me feel better

2 users thanked andy mac for this post.
Ian Eccles on 22/08/2022(UTC), Margaret D on 22/08/2022(UTC)
Lindisfarne
Posted: 22 August 2022 13:08:25(UTC)
#15

Joined: 27/06/2014(UTC)
Posts: 813

My Smart Meters were installed, because the existing ones were 20 years and had reached their sell by date.
If using my washing machine once a week outside of 1700hrs -2000hrs entitles me to a big discount - bring it on.
Watch this space.
2 users thanked Lindisfarne for this post.
ANDREW FOSTER on 22/08/2022(UTC), Peter59 on 27/08/2022(UTC)
Raj K
Posted: 22 August 2022 13:22:39(UTC)
#17

Joined: 22/04/2016(UTC)
Posts: 2,819

Thanks: 6461 times
Was thanked: 6656 time(s) in 2091 post(s)
I personally dont want any smart meters in any property i live in because i dont think they are good in the long term for human health. Many large organisations with vested interest keep on saying emf at low power has no impact on health but i have read other views form scientists (and my own personal experience when exposed to computers, mobile phones) over the years and believe that emf does affect cell integrity, the mylien sheath that surrounds every cell and contributes to cellular degradation. Even studies have shown wide blood sugar swings when a group of people exposed to everyday emf. they called it diabetes type 3

So a no from me, im happy to give meter readings when they require and as often as they want. They dont need to pay to send out meter man to take readings if thats what they are worried about. If they want i can send it with a nice date and time stamp.

I cant control what other people do but i can do in my own castle.

Note: i do believe you can get smart meters installed an request your supplier to engage dumb mode where the trasceivers are switched off.
2 users thanked Raj K for this post.
David BB on 22/08/2022(UTC), Guest on 22/08/2022(UTC)
24 Pages123Next page»
+ Reply to discussion

Markets

Other markets