| Forecast of 20% inflation - ouch on 14:59 - Aug 30 with 1061 views | ThisIsMyUsername |
Is there a genuine reason energy costs are rising so quickly and so hugely? I get that there is a war going on which is affecting supply. But energy companies are making record profits so why do they need to keep hiking prices? Is it simply a case of using excuses like the war to utterly shaft the majority of the population? Combined with a so-called 'government' who don't care.
Please ignore the very naive tone of my post. |  |
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| Forecast of 20% inflation - ouch on 15:29 - Aug 30 with 1005 views | stickymockwell |
| Forecast of 20% inflation - ouch on 14:59 - Aug 30 by ThisIsMyUsername |
Is there a genuine reason energy costs are rising so quickly and so hugely? I get that there is a war going on which is affecting supply. But energy companies are making record profits so why do they need to keep hiking prices? Is it simply a case of using excuses like the war to utterly shaft the majority of the population? Combined with a so-called 'government' who don't care.
Please ignore the very naive tone of my post. |
Mad Liz said something along the lines of we need to go back to fossil fuel rather than green energy and the stupid paraphernalia currently in farmers fields like wind turbines and solar panels. Now if only we had taken on a bigger approach to green energy a while back we might not be quite so mired in the utter sh1t we now find ourselves in. I cant remember when wind and sunshine became so expensive???
A decent turbine at the end of a garden can cost around £1000 coupled with a solar panels could mean many would be self sufficient in energy. Energy companies could even lease the equipment and take bake back the surplus that it creates if each compatible house was offered it?? the money it's going to cost to bail out households would more than cover it I'd imagine. Just a crazy stickymockwell idea. |  |
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| Forecast of 20% inflation - ouch on 15:40 - Aug 30 with 979 views | Keno |
| Forecast of 20% inflation - ouch on 15:29 - Aug 30 by stickymockwell |
Mad Liz said something along the lines of we need to go back to fossil fuel rather than green energy and the stupid paraphernalia currently in farmers fields like wind turbines and solar panels. Now if only we had taken on a bigger approach to green energy a while back we might not be quite so mired in the utter sh1t we now find ourselves in. I cant remember when wind and sunshine became so expensive???
A decent turbine at the end of a garden can cost around £1000 coupled with a solar panels could mean many would be self sufficient in energy. Energy companies could even lease the equipment and take bake back the surplus that it creates if each compatible house was offered it?? the money it's going to cost to bail out households would more than cover it I'd imagine. Just a crazy stickymockwell idea. |
oh lickey!! you and your daft ideas!!
what we need is to burn more fossil fuels, that will heat the planet up and people wont need so much heating in the winter!!
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| Forecast of 20% inflation - ouch on 17:43 - Aug 30 with 880 views | ZXBlue |
| Forecast of 20% inflation - ouch on 14:59 - Aug 30 by ThisIsMyUsername |
Is there a genuine reason energy costs are rising so quickly and so hugely? I get that there is a war going on which is affecting supply. But energy companies are making record profits so why do they need to keep hiking prices? Is it simply a case of using excuses like the war to utterly shaft the majority of the population? Combined with a so-called 'government' who don't care.
Please ignore the very naive tone of my post. |
Here's the problem. There is less fuel, so people are willing to pay more to get some.
Basic supply and demand, and oil supply is set by the Middle eastern cartels/ Opec.So no, not companies actively doing something, but they are clearly making massive profits because the germanys of this world are paying well to get supplies in, and they can command a premium |  | | |
| Forecast of 20% inflation - ouch on 18:06 - Aug 30 with 861 views | Radlett_blue |
| Forecast of 20% inflation - ouch on 14:59 - Aug 30 by ThisIsMyUsername |
Is there a genuine reason energy costs are rising so quickly and so hugely? I get that there is a war going on which is affecting supply. But energy companies are making record profits so why do they need to keep hiking prices? Is it simply a case of using excuses like the war to utterly shaft the majority of the population? Combined with a so-called 'government' who don't care.
Please ignore the very naive tone of my post. |
The exploration & production side of energy is clearly making supra-normal profits as the prices of the commodities has risen hugely. These prices are set by global markets so the argument that they are being hiked artificially doesn't stack up.
No-one can do much about these increases in the short term. The government has already moved to soften the blow to consumers through energy price caps, but these and any other subsidies are effectively going to be funded by the taxpayer (although the bonkers Truss is advocating income tax cuts) or by increased government borrowing, which will be expensive & again, ultimately funded by the taxpayer. |  |
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| Forecast of 20% inflation - ouch on 18:08 - Aug 30 with 857 views | ZXBlue |
| Forecast of 20% inflation - ouch on 18:06 - Aug 30 by Radlett_blue |
The exploration & production side of energy is clearly making supra-normal profits as the prices of the commodities has risen hugely. These prices are set by global markets so the argument that they are being hiked artificially doesn't stack up.
No-one can do much about these increases in the short term. The government has already moved to soften the blow to consumers through energy price caps, but these and any other subsidies are effectively going to be funded by the taxpayer (although the bonkers Truss is advocating income tax cuts) or by increased government borrowing, which will be expensive & again, ultimately funded by the taxpayer. |
Given the fuel isnt costing companies more to produce, teh answer is windfall taxation imo. Ideally a coordinated approach globally, but failing which, we have to keep doing it. | | | |
| Forecast of 20% inflation - ouch on 18:28 - Aug 30 with 806 views | Radlett_blue |
| Forecast of 20% inflation - ouch on 18:08 - Aug 30 by ZXBlue |
Given the fuel isnt costing companies more to produce, teh answer is windfall taxation imo. Ideally a coordinated approach globally, but failing which, we have to keep doing it. |
Windfall taxes have appeared in the past, on energy companies & also on the hated banks when they were making large sums out of high interest spreads. They're always politically popular as no-one really likes energy companies (or banks, for that matter) but the downside is that they will discourage companies from investing in future energy supplies if they think their returns are going to be crimped. | |
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| Forecast of 20% inflation - ouch on 18:30 - Aug 30 with 799 views | Pinewoodblue |
| Forecast of 20% inflation - ouch on 18:08 - Aug 30 by ZXBlue |
Given the fuel isnt costing companies more to produce, teh answer is windfall taxation imo. Ideally a coordinated approach globally, but failing which, we have to keep doing it. |
The answer is not windfall taxation, the answer is a price cap.
Over 40%* of electricity in the UK is produced by green energy, those costs have not increased significantly over 2022. There is an urgent need to stop energy costs pushing up the inflation rate. If you let energy companies increase energy costs, and claw it back by a windfall tax you are driving up the inflation rate. It is worth remembering that a lot of government debt incurred due to Covid is linked to RPI.
* 2020 figure probably nearer 45% now. |  |
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| Forecast of 20% inflation - ouch on 18:32 - Aug 30 with 786 views | ZXBlue |
| Forecast of 20% inflation - ouch on 18:28 - Aug 30 by Radlett_blue |
Windfall taxes have appeared in the past, on energy companies & also on the hated banks when they were making large sums out of high interest spreads. They're always politically popular as no-one really likes energy companies (or banks, for that matter) but the downside is that they will discourage companies from investing in future energy supplies if they think their returns are going to be crimped. |
I think thats bo locks.
If the taxes apply to exceptional profits, it doesnt stop investment or penalise success. It just redistributes the enormous profit being made from circumstances rather than endeavour.
What will really kill future supplies is getting rid of the green levy, as Truss wants us to do. | | | |
| Forecast of 20% inflation - ouch on 18:33 - Aug 30 with 783 views | ZXBlue |
| Forecast of 20% inflation - ouch on 18:30 - Aug 30 by Pinewoodblue |
The answer is not windfall taxation, the answer is a price cap.
Over 40%* of electricity in the UK is produced by green energy, those costs have not increased significantly over 2022. There is an urgent need to stop energy costs pushing up the inflation rate. If you let energy companies increase energy costs, and claw it back by a windfall tax you are driving up the inflation rate. It is worth remembering that a lot of government debt incurred due to Covid is linked to RPI.
* 2020 figure probably nearer 45% now. |
Doesnt work. You cap the price for distributors and they go bust because they cant pay for the fuel from the large suppliers. We cant cap the price on saudi oil companies... Its not the domestic energy companies making hte profit. | | | |
| Forecast of 20% inflation - ouch on 18:38 - Aug 30 with 762 views | Pinewoodblue |
| Forecast of 20% inflation - ouch on 18:33 - Aug 30 by ZXBlue |
Doesnt work. You cap the price for distributors and they go bust because they cant pay for the fuel from the large suppliers. We cant cap the price on saudi oil companies... Its not the domestic energy companies making hte profit. |
If it isn’t domestic companies making the profit why do you want them to pay a windfall tax.
Electricity / Gas prices are pushing up costs more than oil. [Post edited 30 Aug 2022 18:41]
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| Forecast of 20% inflation - ouch on 18:40 - Aug 30 with 753 views | StokieBlue |
| Forecast of 20% inflation - ouch on 18:33 - Aug 30 by ZXBlue |
Doesnt work. You cap the price for distributors and they go bust because they cant pay for the fuel from the large suppliers. We cant cap the price on saudi oil companies... Its not the domestic energy companies making hte profit. |
The issue is that the cost of energy in the UK is pegged to the international gas price rather than the cost at source so energy generated by renewable means also rises in line with the gas price when it should remain constant.
It's daft and will have to change.
SB |  | | |
| Forecast of 20% inflation - ouch on 19:29 - Aug 30 with 659 views | Pinewoodblue |
| Forecast of 20% inflation - ouch on 18:40 - Aug 30 by StokieBlue |
The issue is that the cost of energy in the UK is pegged to the international gas price rather than the cost at source so energy generated by renewable means also rises in line with the gas price when it should remain constant.
It's daft and will have to change.
SB |
Breaking News…France has capped energy cost increase at 4% | |
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| Forecast of 20% inflation - ouch on 19:50 - Aug 30 with 635 views | ZXBlue |
| Forecast of 20% inflation - ouch on 18:38 - Aug 30 by Pinewoodblue |
If it isn’t domestic companies making the profit why do you want them to pay a windfall tax.
Electricity / Gas prices are pushing up costs more than oil. [Post edited 30 Aug 2022 18:41]
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I don't. I want shell et al to pay them | | | |
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