@editor Pigs are more likely to grow wings than prices drop like that! 😣  Toodles.

Posted by: @editor

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Some bad news: Ofgem has announced another energy price rise for October 2024, with further increases expected in January 2025.

There is also some seemingly sneaky stuff going on about the announcement dates. Until very recently, this announcement was generally expected eg on Martin Lewis's Money Saving Expert pages on the 27th August. But a close look at Ofgem's announcement pages including previous ones on the wayback machine shows the wording is by the 27th August, meaning Ofgem can, in effect, announce it whenever they feel like announcing it, so long as it is by the 27th. I can't help wondering whether the early announcement will catch some suppliers and more importantly for us consumers with their pants down, in particular over fixed term/tariff contracts.      

I've just fixed for 12 months at 21.4p p /kWh with Outfox the Market:

https://www.outfoxthemarket.co.uk/

Posted by: @george

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I've just fixed for 12 months at 21.4p p /kWh with Outfox the Market:

I've just done something similar, slightly different rate as rates are regional. My previous comment came from the fact my sign up to OTM was not straightforward, they got the dates wrong, which meant cancelling the first sign up and doing a completely new second one. I would not have been a happy bunny if by the time I came to do that second application, OTM had hiked the rates, based on an earlier than expected Ofgem announcement. In the event that didn't happen, but I am inclined to presume that when the cap goes up, then sooner or later fixed rates will also go up.

Outfox the Market are an 'interesting' company. A few years ago they had a terrible reputation for customer service, unilateral huge 'seasonal' direct debit hikes, and got known in this and many other parishes as Outfox the Consumer. I think Ofgem may even have stepped in at one point, I bolted before the 5-H-1-T hit the fan. Now, generally, on the websites that publish customer feedback (eg Which?, Citizen's Advice and Trust Pilot but not MSE), they get relatively good customer service scores.     

Posted by: @editor

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Some bad news: Ofgem has announced another energy price rise for October 2024, with further increases expected in January 2025. It’s now been three years since the gas crisis began. Despite crude oil prices dropping to more “normal” levels, this hasn’t really translated into lower consumer prices for gas and electricity. I’m wondering - how long does it typically take for these cost reductions to work their way through the system? And will we ever see prices drop below 20p/kWh?

Natural gas (or LNG), widely used in the production of electricity in Europe and the UK, isn't a product of crude oil, so the pricing of the two are independent.

See here for a discussion of any price correlation:

https://www.investopedia.com/articles/economics/08/crude-and-gas-prices.asp

Edited to add, products such as bottled propane and butane gas are refined products from crude oil, so there should be a price correlation there for those who use bottled gas.

@cathoderay Still, let’s look on the bright side if you have solar PV, look how much more we are saving and shortening that ROI!🤣 Toodles.

Posted by: @toodles

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let’s look on the bright side if you have solar PV

But not all of us do, listed building, and even if it wasn't listed, the visual impact would not be to my liking. Large futuristic rectangular dark coloured panels do not suit mellow small scale cottages in rural settings, and, in the overall scheme of things I do think the visual environment matters. There's been some interesting discussion on the sinking of the yacht Bayesian (don't get me started on the inadvisability of applying anything Bayesian to yachting! Pre and post test likelihood of being afloat after being struck by a tornado!) on the trade off between 'doing the right thing', in this case for safety, and the trade off against amenity, ie enjoyment of the yacht. Similar arguments can apply to the trade off between doing the right thing for the environment, and the impact of doing that right thing on the environment, in particular it aesthetic appeal, enjoyment of which is not only part of what it means to be human, but also strongly conducive to well-being. I do worry sometimes that excess zeal for the former (doing the right thing for the environment) might turn a once green and pleasant land into an endless array of dark satanic mills.       

I don’t suppose your listed building has a slate roof, does it, @cathoderay?

Posted by: @majordennisbloodnok

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I don’t suppose your listed building has a slate roof

No, mellow terracotta coloured conventional clay tiles. There are also gentle curves in places. The walls are also a mellow almost honey coloured sandstone, by brick stands very coarse textured, against which the regular angularity of panels would clash. Good point though, solar panels will be less intrusive on slate roof. 

Posted by: @cathoderay

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Posted by: @majordennisbloodnok

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I don’t suppose your listed building has a slate roof

No, mellow terracotta coloured conventional clay tiles. There are also gentle curves in places. The walls are also a mellow almost honey coloured sandstone, by brick stands very coarse textured, against which the regular angularity of panels would clash. Good point though, solar panels will be less intrusive on slate roof. 

Actually that wasn’t where I was coming from.

There’s a company in Wales that produces solar panels that are almost indistinguishable from slates.

https://gb-sol.co.uk/products/pv-slate/

It seems they are often able to get approval for use in conservation areas and on listed buildings. Not that it would help you with a tile roof, of course.

Not cheap, though, so I can easily see other products slowly appearing that do the same and look similar for a lower price.

Posted by: @cathoderay

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Good point though, solar panels will be less intrusive on slate roof. 

 

Actually that wasn’t where I was coming from.

But isn't that exactly what you went on to say? Given the right slates and right solar panels, the latter can blend in. As slates are typically more common in wetter parts of the UK, the sheen on the solar panels will even match the sheen on the rain soaked slates!

Posted by: @cathoderay

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But isn't that exactly what you went on to say?

You’re probably quite right. Fair enough.