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[chrissie]

I don't know if anyone saw the Channel 5 money prog the other night (can't think of the name of it... senility has set in  )  It was predicted on there that the price of gas and electricity would go up 20% - 30% in the summer or autumn of this year    Apparently the wholesale prices have gone up 60% - so they said - and of course the increase will be passed on to the consumer.

Can't tell you what I think about this if true..... hopefully you can imagine!

Chrissie

[fudgem]

and they still tell lies about the inflation rate

[UncleUB]

Extortionists,that is the only word that sums up the energy companies.Its no wonder foreign companies want a piece of the UK market.

[grumpy old man]

We have to remember that around 60% of pump price is tax which goes to our favourite prime minister to spend on something more useful, like putting up speed cameras to get more money out the motorist.

The price of a barrel of oil is I believe being affected by market traders buying in the futures market, so not all down to energy companies.

What price a diminishing resource?

gom

[oldfogy]

No doubt you saw the "Global Warming coming to an end" within the next 10 years.

So with the reduced sale of fans and air conditioning units, they have to make their money elsewhere.
In advance of course. 

[Floydoid]

and they still tell lies about the inflation rate

Yes, with the cost of food, fuel, energy, mortgages etc going up as they are, the government must be working a miracle to keep the inflation rate under 3%, or whatever they claim it is.

[guest]

While I think the profit margins that utility companies make is totally unacceptable (as they operate in an artificial market) I'm afraid you'd all better get used to MUCH higher prices for anything requiring oil.

I think in years to come we'll realise that the "peak oil" moment actually occurred in the late 1990s/early 2000s. We are a net importer now (don't get me started on how the UK has wasted oil revenues, unlike Norway!) and our currency is worth less as each month goes on (18% down against the Euro). Oil drives everything in our society and we aren't used to paying the true cost - mainly due to North Sea oil.

Unfortunately (IMHO) the UK will just trundle along as usual, doing nothing and making no plans or preparations as our archaic (and very undemocratic) political system means that change of any sort is anathema. The lights will quite literally have to go out before we do anything.

Within 5 years I expect to be paying 20p/kWh for electricity. Within 5-10 years I expect gas to be at similar price levels to electricity - its massively cheaper now mainly for historical reasons (North Sea gas) but that won't last. eg - we had a new kitchen put in 2 years ago and rather than a gas hob I chose an induction hob which is 95% efficient rather than a gas hob which is 40% efficient. Cost of usage then was higher than a gas hob. Two years later and its about even. In 5 years? I reckon yearly savings will be around £150 over gas.