Somewhat irritated - Octopus price rise ?

DaevM

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Hands up all those that are somewhat irritated by Octopus price rise due to the increase in the rise of the price of gas ?? ?✋✋✋✋.
I'm an electric only household and my service provider is leading edge on providing renewables. - Somewhat irritated!
 
Hands up all those that are somewhat irritated by Octopus price rise due to the increase in the rise of the price of gas ?? ?✋✋✋✋.
I'm an electric only household and my service provider is leading edge on providing renewables. - Somewhat irritated!

M8, my irritation stems from your irritation!
Iritated on your behalf. ?
 
Makes a nonsense of the claim that Octopus is a 100% renewable electricity provider when the price of its electricity supply is influenced by a fossil fuel - the price structure needs to be uncoupled.:mad:
 
The thing is that if the price of gas goes up, then everyone will bid more for the renewable output.

It is only when there is more renewables than demand that they will really bring down prices. There is no fuel cost for it after all.

I guess we are seeing that for very brief periods when Octopus do their free hour.

As more people put solar on their roofs this will happen more often.
 
The thing is that if the price of gas goes up, then everyone will bid more for the renewable output.

It is only when there is more renewables than demand that they will really bring down prices. There is no fuel cost for it after all.

I guess we are seeing that for very brief periods when Octopus do their free hour.

As more people put solar on their rooves this will happen more often.
There really needs to be proportional pricing related to the amount each generator supplies.

If you look at the National Grid at the moment; GB Fuel type power generation production 33% of the electricity is from gas, so 33% of the cost should be at that price, not 100%.
 
There really needs to be proportional pricing related to the amount each generator supplies.

If you look at the National Grid at the moment; GB Fuel type power generation production 33% of the electricity is from gas, so 33% of the cost should be at that price, not 100%.
I agree, source-proportional price computation would make a lot of sense and be a much fairer representation of the actual costs.
 
I don't know, we want people to pay the price of the electricity.

Obviously we can see it as each person has an allotment of the total generation, there is a case for that, but the marginal price is important as well.

If someone uses additional electricity then this requires a gas plant to be turned on/up. That's the key issue.

If you force someone to sell electricity for 15p when it costs them 30p to buy more of it then they are going to go bankrupt.

Also, we could sell electricity to other countries - how much should we charge for that? Generators might be selling to someone for 15p when someone else is offering 30p. That is leaving free money (from their perspective) on the table.

Fixing
In a way, though, we are fixing aren't we if we aren't on an agile tariff.

The supplier is offering to sell us at a price for the upcoming period.

Are we saying we would force wind farms to accept less money than they are offered?

In which case I'd say they should charge what they can and we claw some back through an 'excess profits tax' which is what should have been done (properly) after the Russian invasion of Ukraine.

Use that tax revenue to support those in need rather than giving everyone cheaper electricity at a time when additional electricity has become much more expensive to generate.

Owning your own generation
Having your own solar panels means that you get the benefit when the electricity price goes up.

Ripple offer a scheme to invest in a wind farm and you get the share of the benefits. That seems like a possible way to guarantee/limit your own costs.

Renewable future

In the long run in countries like the UK where there isn't a lot of hydropower, electricity is going to be extremely cheap at some points in time (when it is windy or sunny) and very expensive at others (when it is neither).

Hence why it is sensible to encourage people to buy batteries, EVs and smart water heaters which can be heated at times of surplus!
 
Hands up all those that are somewhat irritated by Octopus price rise due to the increase in the rise of the price of gas ?? ?✋✋✋✋.
I'm an electric only household and my service provider is leading edge on providing renewables. - Somewhat irritated!
Prices in France set to fall 10% by the end of the year, Isn't that irritating???? Shouldn't laugh but I will allow myself a small giggle. Tin hat on, at the ready!:)
 
We need to spread the cheapest electricity around to push out the more expensive (and often dirtier) sources.

Hence the need for much more transmission and interconnectors as well as more renewables.

I'm with economist Lynne Kiesling (and Greg Jackson) that market pricing is the best way to make all this work as well as possible.

More cheap, clean, electricity from Scotland, France and Norway please!
 
I don't know, we want people to pay the price of the electricity.

Obviously we can see it as each person has an allotment of the total generation, there is a case for that, but the marginal price is important as well.

If someone uses additional electricity then this requires a gas plant to be turned on/up. That's the key issue.

If you force someone to sell electricity for 15p when it costs them 30p to buy more of it then they are going to go bankrupt.

Also, we could sell electricity to other countries - how much should we charge for that? Generators might be selling to someone for 15p when someone else is offering 30p. That is leaving free money (from their perspective) on the table.

Fixing
In a way, though, we are fixing aren't we if we aren't on an agile tariff.

The supplier is offering to sell us at a price for the upcoming period.

Are we saying we would force wind farms to accept less money than they are offered?

In which case I'd say they should charge what they can and we claw some back through an 'excess profits tax' which is what should have been done (properly) after the Russian invasion of Ukraine.

Use that tax revenue to support those in need rather than giving everyone cheaper electricity at a time when additional electricity has become much more expensive to generate.

Owning your own generation
Having your own solar panels means that you get the benefit when the electricity price goes up.

Ripple offer a scheme to invest in a wind farm and you get the share of the benefits. That seems like a possible way to guarantee/limit your own costs.

Renewable future

In the long run in countries like the UK where there isn't a lot of hydropower, electricity is going to be extremely cheap at some points in time (when it is windy or sunny) and very expensive at others (when it is neither).

Hence why it is sensible to encourage people to buy batteries, EVs and smart water heaters which can be heated at times of surplus!
I don't think any company would put in bid which would bankrupt it. They would add their profit margin to the actual price.
 
We have some of the highest tides in the world, when is that going to be harness?
I often throw that one in. They built The Wave Hub off the coast at Hayle, Cornwall to test systems about 14 years ago. Not a lot of interest generated at the time and even less electricity ?
 

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If the government hadn't decided to waste a lot of time and money building Hinkley Point C, and built the Severn Barrage instead, we'd have a reliable, predictable base load which costs nothing to run with low cost maintenance.
 
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