Energy Crisis

[Paddy]

If gas prices don't reduce bills will be 30-50% higher next year.

All thanks to this: https://www.theguardian.com/business...ts-record-high
UK wholesale gas prices have hit fresh record highs, amid further warnings about the future of British energy-intensive industries and firms that supply households.

The wholesale gas price for day-ahead delivery rose above the £3 per therm level for the first time on Wednesday morning, hitting 355p at one point, even higher than the spike in demand for gas during February 2018’s “beast from the east” cold snap.

It's a bit like the Dutch Tulip Mania. Investors are buying up "paper gas" as there is little else to invest. It will crash back down.

[SueEllen]

It's a bit like the Dutch Tulip Mania. Investors are buying up "paper gas" as there is little else to invest. It will crash back down.

Apparently Russia is going to increase supply...

[vetran]

Blimey, the Brexit fallout is worse than I thought:

2021-10-02 Dutch Greenhouses Go Dark As Energy Crisis Worsens; Food Inflation Fears Mount For Europe

And it's obviously all the fault of those damned Brexiters!

sadly they fell for a bait & switch by vlad the invader. Luckily we closed all our storage years ago so we are bent over the barrel already!

[SueEllen]

Switching customers without consent - Omni Energy is switching customers who are heavy users to Scottish Power or Bulb to stay in business.

One issue is that it is against Ofgem's rules to switch customers without their consent, so Scottish Power and Bulb are cancelling the switches leaving customers with Omni Energy.


https://www.theguardian.com/money/20...xpress-consent
From the article -

A source familiar with Omni’s actions said that senior executives at the company had spent days switching hundreds of customers at a time, focusing on the highest energy users.


The source said the company hoped that by offloading the most burdensome customers it could ride out the gas price spike without collapsing. But they said Omni was deliberately not telling customers about the switch.

They also said Omni had turned off its customer helpline, making it harder for people to find out what was going on. When the Guardian called the number, an automated message said it was only fielding emergency calls.

Ofgem is understood to have intervened, ordering Omni to stop switching customers without their express consent.

[d000hg]

Sounds like our primary supplier is going too (Pure) after the secondary (Igloo) went last week.

[eek]

Sounds like our primary supplier is going too (Pure) after the secondary (Igloo) went last week.

Thanks for that - just submitted a reading before they go belly up - as whatever I'm going to pay going forward is cheaper than what I will be paying going forward.

[SueEllen]

Sounds like our primary supplier is going too (Pure) after the secondary (Igloo) went last week.

And the story - https://news.sky.com/story/bp-backed...risis-12430539

A residential renewable energy supplier backed by BP is nearing collapse, joining the growing list of industry players which have found themselves unable to weather surging wholesale prices.

Sky News has learnt that Pure Planet, which is 24%-owned by the FTSE-100 energy giant, has commenced discussions with Ofgem, the industry regulator, about entering the Supplier of Last Resort (SOLR) process set up to transfer the customers of failing companies.

Industry sources said on Sunday that an announcement about Pure Planet's fate could be made as soon as this week, although they cautioned that a final decision had yet to be taken.

[dsc]

Apparently Russia is going to increase supply...

Heard that they are currently delivering 18% below pre pandemic levels and this is mostly due to them wanting to fill up their storage atm.

[vetran]

Heard that they are currently delivering 18% below pre pandemic levels and this is mostly due to them wanting to fill up their storage atm.

what a silly idea have storage? Any fule knows JIT is the only way... oops

[d000hg]

And the story - https://news.sky.com/story/bp-backed...risis-12430539

A residential renewable energy supplier backed by BP is nearing collapse, joining the growing list of industry players which have found themselves unable to weather surging wholesale prices.

Sky News has learnt that Pure Planet, which is 24%-owned by the FTSE-100 energy giant, has commenced discussions with Ofgem, the industry regulator, about entering the Supplier of Last Resort (SOLR) process set up to transfer the customers of failing companies.

Industry sources said on Sunday that an announcement about Pure Planet's fate could be made as soon as this week, although they cautioned that a final decision had yet to be taken.

Yeah although I saw this when it broke and assumed we had hours rather than days the way things are right now. Bit of an unusual case I suppose.