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Electricity price predictions

 
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Electricity, Tariffs, Monitoring & Providers
Last Post by Transparent 6 months ago
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Mars
 Mars
(@editor)
Illustrious Member Admin
Joined: 5 years ago
Posts: 3398
25/02/2025 9:46 am  

A 6.4% increase seems quite high. At least it’s milder and the sun is out to help with solar gain and solar production. 

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Transparent
 Transparent
(@transparent)
Illustrious Member Moderator
Joined: 4 years ago
Posts: 2455
25/02/2025 10:42 am  

Yes @jeff and @kilowatts_io you're largely correct

It's a Cap and Flaw arrangement based on the revenues accrued by National Grid Group for operating the link.
However, that income is obtained by charging Generation and Storage customers per MWh that they put through the interconnector.
That increases the price of electricity on the European wholesale market.
So it does have a knock-on effect on the consumer price.

In April'23 National Grid "paid back" £100m which they accrued above the Cap,
in addition to the £200m which was already due.

I have yet to find out where that money goes, and whether it is ring-fenced to benefit those of us who are paying for UK-based infrastructure upgrades.

I should point out that whilst those sums may seem huge,
they are well under 10% of the revenue being earned by the NSL owners.

 

UK has an underlying principle of "No taxation without representation".

But that doesn't seem to be applied to the Energy Sector.

Ofgem is facilitating Agreements which allow British energy prices to rise,
whilst consumers have no voice in NESO or the forthcoming RESPs.

 

May I point out that, although I get invited to public consultation meetings held by companies in the National Grid group,
and I have direct communication with scores of their staff,
the financial side of things is not my forté.

Those 'briefings' are largely attended by representatives from Local Government, utility companies and academics.

My role tends to be that of challenging the ethics of decisions,
and daring to stop the speakers to ask technical questions!

 

I really need others here to pick up aspects of pricing and drill down to find the detail.

This post was modified 6 months ago 4 times by Transparent

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