# energy prices

[jackass-democrats]

AOC Pushes Her New Plan For Free Electricity

[ceevee5]

It really does feel that everything is falling apart here.

[o-kurwa]

"What energy crisis?"

[eaglesnick]

“The increase in the price of electricity will not affect the poorest. Their electricity has already been cut off.” ― Ljupka Cvetanova, Yet Another New Land

The energy suppliers of Britain, we are told, are “owed” £3 billion in unpaid bills. Ofgem, the energy watchdog - working “to protect energy consumers” – has therefore decided that those of us who are paying our energy bills should be  charged an extra £16 pear year on top or our regular bills in order to help suppliers recoup their losses.

£16 isn’t very much, but it is the principle rather than the cost which is deeply concerning. End Fuel Poverty Coalition coordinator Simon Francis had this to say:

“This outrageous tax on energy consumers is simply not fair...  Energy suppliers have posted billions in profits already this year while millions of people struggle in cold damp homes. The record levels of energy debt are due to Britain’s broken energy system, not the fault of the hard-pressed public.”  (Guardian: 15/12/23)

It is a very strange logic that demands customers pay off a companies debts when they supposedly make a loss but refuse to share dividends when in profit.

EDF, for example made a profit of £1.12 billion for the period 2022/23. Shell, not only a producer of gas and oil but also a domestic supplier of energy, made an overall company profit of £32.2billion in 2022. Is it too much to ask that any loss they may have made selling domestic energy be off-set against their massive global profits? Why are we subsidising the shareholders of such a hugely successful company? Meanwhile hard hit Centrica, owners of British Gas, only made £3.3 billion in profits for the year 2022. They obviously need our help!

Even the minnows of the energy supply industry made money. Octopus Energy Group made a profit of 1.6% ( £203 million) according to its own published  results, with revenues tripling from “ £4bn to £13 billion”.

Have we all fallen down the rabbit hole? When did it become acceptable for the paying public to make up the “losses” of private enterprise, especially when the overall arm of those enterprises are making billions in profit? The world just gets curiouser and curiouser.

[bopinion]

When I think about...

...how some work colleagues leave the toilet, I don't want to be invited to their place for dinner.

...how the Taliban are banishing their women step by step back to the Middle Ages, I almost wish "Operation Enduring Freedom" back.

...how far artificial intelligence has already come, I understand why so few seem to attach importance to human intelligence.

...how many children still have no access to education, I am annoyed by parents who get upset when one single lesson is to be cancelled.

...how the right-wing populist "Alternative for Germany" manages to get back to 14-15% after every down, I wish "The Left" would return as a protest party.

...how consumer prices for electricity and gas are still rising, even though purchase prices have dropped significantly, I am afraid for my wallet.

...how the German minister of transport clings to combustion cars, I understand "Last Generation" and "Extinction Rebellion" better and better.

...how Europeans can be upset that the U.S. is so dominant, but at the same time not dare to lead for reasons of political hygiene, I find that pathetic.

...how many e.g. South American countries still refuse to see Russia as an aggressor, it makes me angry that morality and human rights still count less than economic and geostrategic interests.

...the way the government spends money on explaining its policies in advertisements and commercials because the editorial treatment gets too complex, I question the people's media literacy.

[taxusbaccata6]

[barbarian15]

[trendynewsnow]

European Stock Markets Decline Amid Geopolitical Tensions and Rising Energy Prices

European Stock Markets Decline Amid Geopolitical Tensions On Tuesday, European stock markets experienced a significant downturn, reaching a three-month low. This decline was largely attributed to a widespread selloff triggered by Ukraine’s unprecedented attack on a Russian military base, employing US-made long-range missiles. In response, Russia issued a stern warning, threatening to lower the…

[notayesmanseconomics]

Germany is in an economic depression due to its reliance on renewable energy

This morning has seen a selection of poor economic news in Europe and the UK. If not quite toxic rather unpalatable and let me start with something that I marked you cards about back when the original Germany GDP report was released. Gross domestic product (GDP) rose by 0.1% in the third quarter of 2024 compared to the second quarter of 2024 – adjusted for price, seasonal and calendar effects. As…

[bitcoinversus]

Global Electricity Prices Averaged 0.162 per kWh in March 2024

In March 2024, the average global electricity price stood at USD 0.162 per kilowatt-hour (kWh) for residential users and USD 0.181 per kWh for businesses. Europe reported the highest residential electricity prices at USD 0.228 per kWh, while Asia had the lowest at USD 0.082 per kWh. The International Energy Agency (IEA) forecasts a 3.4% annual increase in global electricity demand through 2026,…

[news-buzz]

UK households warned to unplug 7 worst appliances that cost a bomb on standby | Personal Finance | Finance News Buzz

As energy bills continue to soar, we’re all doing everything we can to try to keep our costs down. The usual tricks of turning down the heating by a couple of degrees, switching to energy saving bulbs and turning lights off when not in use are all well known of course. But did you realise how much all your gadgets are using in standby mode? Putting appliances on standby could be way more costly…

[timelessnewsnow]

The energy regulator for Great Britain, Ofgem, imposed the energy price cap, which caps the amount that gas and electricity companies can charge. The average yearly payment for a dual-fuel family paying by direct debit is now £1,717 after this maximum was recently raised by over £150.

Know more 👆🏻

[eaglesnick]

101 Things You Should Know About the UK Tory Government

101 Things You Should Know About the UK Tory Government

Thing 61

No one will be surprised by this headline:

“Energy firms accused of hoarding customers’ direct debit cash... Energy companies are sitting on billions of pounds of customers’ money while households struggle with the cost of living, an investigation has found.”  (The Times: 28/12/22)

What you may not know is that Britain pays the highest price in the world for its energy supplies.

“A study on government electricity and gas price data reveals that Brits pay the world's highest energy bills.”  (OILPRICE: 16/11/22)

Why is this?

According to a variety of sources, UK high prices are due to:

A broken market.  The way the government has created a false market for energy supply has led to artificially high prices. UK energy prices are set to rise by 80% while in the rest of Europe they will rise only 40%.

Lack of Storage. Government allowed private companies to close storage facilities for natural gas, putting corporate profit before security of supply.

Gas Contracts: UK contracts for gas supply are 7% higher than for other countries in Europe. Lack of storage means we have to rely on “real-time flows".

Minimal government support. Because energy production and supply is no longer publicly owned the government has been reluctant to seriously cap prices. In France, for example, electricity prices have been capped at 4%. In England the cap is 83%.

The energy price driven cost of living crisis, one that is expected to worsen in the New Year, is being overseen by Rishi Sunak's Minister of State for Energy and Climate, Graham Stuart.  But as is often the case with Sunak appointments he has put a fox in charge of the hen house.

“Revealed: New climate minister ran firm promoting gas guzzlers”  (OpenDemocracy: 22/09/22)

Don’t expect any relief from energy price rises anytime soon.

[head-post]

Eastern Europe needs additional energy sources due to high prices, says Romanian minister

The Green Energy Corridor entered a new phase with the establishment of a joint company to conduct feasibility studies and oversee the implementation of an initiative to supply gas from the Caspian region to Eastern European countries.

CNTEE Transelectrica, Georgian State Electrosystem, AzerEnerji, and MVM Electrical Works signed the founding documents of the Green Energy Corridor Power Company, which would be based in Romania and responsible for the implementation of the Green Energy Corridor project.

During the meeting, the energy ministers of Azerbaijan, Georgia, Romania, and Hungary also signed a protocol amending the original agreement.

The protocol specifies that EU legislation and the obligations of Romania and Hungary as EU member states take precedence over the provisions of the agreement.

The project involves the construction of a high-voltage direct current (HVDC) link across the Black Sea, connecting Romania and Georgia. The HVDC would stretch to Hungary and Azerbaijan.

Green Energy Corridor

This energy infrastructure project aims to interconnect energy markets in the Black Sea region and increase diversification of supply. However, Romanian Energy Minister Sebastian Burduja stated that energy prices were currently higher in Eastern Europe, partly due to “insufficient diversification.”

Burduja said the European energy market was not functioning “well enough, with cheaper energy sources not always reaching Eastern Europe.” He added that the project would support the decarbonisation of the energy sector, mainly transporting energy from renewable sources.

Azerbaijani Energy Minister Parviz Shahbazov proposed connecting the corridor with another one between Europe and Central Asia, creating a single energy corridor. The project could allow Georgia to “become part of the European energy market,” an important step towards Georgia’s EU membership, Levan Davitashvili, Georgian Minister of Economy and Sustainable Development, stated.

Read more HERE

[vcompare4u]

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