# energy prices

[jackass-democrats]

AOC Pushes Her New Plan For Free Electricity

[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.

[davidl2001]

Why Winter Energy Bills Are Set to Spike This Year

Winter is officially here which means central heating will be on a lot more however, we need to be cautious with how much we use our central heating. One of the reasons for this is because energy bills are expected to rise by 9% for people’s annual bills. Not only does this affect personal homes, but this will also affect businesses.  What Is The Reason For Energy Bills Rising The core reason for…

[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 👆🏻

[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]

Best Compare Solutions Compare Energy Prices With Trusted Energy Experts

VCompare4U will help you save your time and effort & help you fetch the details with a simple step. At VCompare4U, we understand the importance of finding the right energy and telephone plan for your home or business. We have a specialized team helping you compare gas and electricity & telephone plans across Australia, who have invested time and efforts in researching the market to provide the best-suited plans that suit your energy needs and budget. With years of experience in the industry, we are committed to simplifying the energy plan comparison process and empowering you to take control of your energy costs. Ready to Switch? Get a quote to switch, compare energy prices, and start saving! VCompare4U compare & sell a wide range of brands

[ennovance]

OECD Europe Russian oil reliance

The #Russian invasion of Ukraine first led to a collapse in thermal fuel flows into Europe...

#oil #shalegas #energysecurity #esg #opec #oott #ev #investor #ennovance

https://x.com/mohossain/status/1736563531691012426?s=46&t=GtuOmoaTjOwevz2JidiiDQ

[reasoningdaily]

Finance Minister Mohamed Maait confirmed the hedge Tuesday, saying it’s in place for the country’s fiscal year which ends next June. He declined to provide further details, but said imports total about 150 million barrels of oil a year.

Egypt is one of a handful of nations that engage directly in the oil derivatives market to lock in supplies. Such sovereign programs, which also include the giant secretive hedge by Mexico, are closely watched by options traders and dealers as they can make the governments involved significant market players.

Unlike Mexico, Egypt hedges its purchases rather than sales. The North African nation, gearing up for a presidential vote slated for December, is mired in economic strife that’s been amplified by Russia’s invasion of Ukraine. The country’s currency has been devalued three times since early 2022 and a fourth devaluation is expected.

Egypt has previously taken similar steps to guard against volatility in global oil markets. In 2020, the nation snapped up a “huge number” of derivative contracts, almost doubling its oil hedges during the fiscal year.

[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…

[trendingnewschronicle]

Exploring Energy Prices: Influence & Strategies for Savings

Discover the fascinating world of energy prices and their impact on your budget! From supply and demand dynamics to geopolitical events and market regulations, various factors influence energy prices.

Uncover the secrets behind their fluctuations and learn effective strategies to optimize your energy usage. Discover the power of energy-efficient appliances, smart thermostats, and insulation techniques to reduce consumption. Explore time-of-use pricing plans and renewable energy sources like solar panels.

By understanding energy prices and implementing these strategies, you can save money while contributing to a sustainable future. Dive into this enlightening article and take control of your energy expenses today!

Also Read: UK Faces Energy Price Hike, Subsidies Possible

[binimom]

Tax Bomb Warning???

The Swedish government is set to raise taxes on bitcoin mining and end tax incentives for data centers😥 The cryptocurrency mining industry is set to be hit hard, and miners are reportedly looking for ways to protect themselves against a plunge in profitability. Rising energy prices in Europe are also said to be having a significant impact, with many Bitcoin miners pulling out of the region. Even Northern Europe, which is favorable for data centers, is said to be seeing a narrowing of the mining industry due to this increase.🤦‍♀️ OMG

[tomburke47]

Is the transition to Net Zero actually achievable? - Capital.com

Is the #energytransition to #NetZero actually achievable? We already have the technology we need. We don’t have a technology problem. Can we deploy that technology fast enough? I think that is a much more difficult question. @e3g @capitalcom #renewables

Is it achievable technologically? Yes. We already have the technology we need to get to Net Zero, and there is a lot more to come. There is a lot of research going on that has been triggered by the challenge of reaching net zero. So, we are going to have the technology we need. We don’t have a technology problem. Can we deploy that technology fast enough? I think that is a much more difficult…