The energy crisis

[ianch99]

An interesting chart. The UK is doing something wrong:

Who was paying 65p per kWh in July 2022 ? Certainly not me.

[ianch99]

Originally Posted by Paul

Who was paying 65p per kWh in July 2022 ? Certainly not me.

Good point. I did some research and this article has more info:

https://metro.co.uk/2022/09/01/how-d...rope-17277277/

What are energy prices like elsewhere in Europe?

The UK is paying the second highest amount of electricity in Europe, only topped by the Czech Republic, according to the Household Energy Price Index (HEPI).

It can be difficult to do a direct comparison of energy prices across countries, so HEPI looked at household electricity and gas costs in European capital cities in July 2022, focusing on the average price per kWh.

HEPI uses an artificial currency called purchasing power standards (PPS) to create a more accurate comparison.

The latest figures in July show the UK is paying more than 51.85 pps per kWh of electricity, just under Czech Republic’s 52.15 pps.

To compare, France is paying 23.2 pps for kWh, and Germany 35.93 pps.

According to HEPI, the top ten most expensive European countries for electricity are:

Czech Republic
UK
Italy
Estonia
Denmark
Latvia
Cyprus
Netherlands
Belgium
Germany

[nomadking]

The data may be from a year ago, but it shows Germany paying the most for Electricity and Sweden paying the most for gas. It's each EU country plus the UK.

Link

---------- Post added at 20:57 ---------- Previous post was at 20:56 ----------

Originally Posted by ianch99

Good point. I did some research and this article has more info:

https://metro.co.uk/2022/09/01/how-d...rope-17277277/

Basically using a made up system to compare.

Originally Posted by nomadking

The data may be from a year ago, but it shows Germany paying the most for Electricity and Sweden paying the most for gas. It's each EU country plus the UK.

Link

---------- Post added at 20:57 ---------- Previous post was at 20:56 ----------


Basically using a made up system to compare.

What is HEPI?

To correct for a persistent lack of current, frequently updated and methodologically reliable information on household prices for both electricity and gas at the European level, the Austrian energy regulator (Energie-Control) and the Hungarian Energy and Public Utility Regulatory Authority (MEKH) have commissioned VaasaETT to compile and publish electricity and gas price-rankings in 33 European capital cities on a monthly basis starting from January 2009 with the EU15 countries and gradually expanded to the all of the EU Member States in addition to selected members of the European Energy Community (Montenegro, Norway, Serbia, and Ukraine), plus Great Britain and Switzerland. This study is known under the name Household Energy Price Index (HEPI).

The HEPI methodology was developed, tested, and improved over several months. The details as well as the background data were shared with every national regulator in the countries covered before the “go-live” of the study and their comments taken into account to ensure wild acceptance of the publications.

https://www.energypriceindex.com/

Capitals included in the study

AT Austria - Vienna
BE Belgium - Brussels
BG Bulgaria - Sofia
HR Croatia - Zagreb
CY Cyprus - Nicosia
CZ Czech Republic - Prague
DK Denmark - Copenhagen
EE Estonia - Tallinn
FI Finland - Helsinki
FR France - Paris
DE Germany - Berlin
GB Great Britain - London
GR Greece - Athens
HU Hungary - Budapest
IE Ireland - Dublin
IT Italy - Rome
LV Latvia - Riga
LT Lithuania - Vilnius
LU Luxembourg - Luxembourg City
MT Malta - Valletta
ME Montenegro - Podgorica
NL Netherlands - Amsterdam
NO Norway - Oslo
PL Poland - Warsaw
PT Portugal - Lisbon
RO Romania - Bucharest
RS Serbia - Belgrade
SK Slovakia - Bratislava
SI Slovenia - Ljubljana
ES Spain - Madrid
SE Sweden - Stockholm
CH Switzerland - Bern
UA Ukraine - Kyiv

https://www.energypriceindex.com/price-data

[nomadking]

Originally Posted by Hugh

https://www.energypriceindex.com/



https://www.energypriceindex.com/price-data

1) Still contrived nonsense.
2) Capital cities only.
The higher costs are from gas, whether direct usage or for generating electricity. The price the markets charge for the gas, will not depend on which country is buying it. Although iirc, Malta has a fixed rate deal with Qatar, which is keeping prices down for them.
Government subsidies(eg France) should really be taken out, because they are just postponing the cost by using government borrowing. The underlying cost is still there to be paid back.

I’m sure the National Regulators in the 33 countries who have agreed this measure will take your comments into consideration...

[1andrew1]

Originally Posted by Hugh

I’m sure the National Regulators in the 33 countries who have agreed this measure will take your comments into consideration...

Anything that disproves his viewpoint must be contrived.

I think whichever country we're talking about, we'll find subsidies to bring the costs down are either funded by government borrowing or by taxes on the energy companies.

[Mr K]

Originally Posted by 1andrew1

Reversing the NI hike? I suspect it will. Truss seems to believe in trickle-down economics, a theory whose time many thought had gone.

The NI hike was to pay for Social Care/the NHS
. Guess those issues have totally been solved now? Or is bribing the public more important till the next health crisis, or when granny is out on the street?

First details of the Government plan to cap energy bills: https://www.bloomberg.com/news/artic...ls-below-2-000

Incoming Prime Minister Liz Truss has drafted plans to fix annual electricity and gas bills for a typical UK household at or below the current level of £1,971 ($2,300).

In discussions with her team and government officials in recent days, Truss has settled on a mechanism that will avert the massive increase in energy bills that is due to kick in at the start of next month under the existing pricing system, according to officials and advisers to Truss who were briefed on the plan. The policy could cost as much as £130 billion over the next 18 months, according to policy documents seen by Bloomberg.

Under Truss’s plan, energy suppliers will be obliged to charge households a reduced rate for their energy and the government will guarantee financing that will cover the difference with what they would have charged under the previous system, according to documents seen by Bloomberg.

Jacob Rees-Mogg, who is set to become Business Secretary in Truss’s government, held talks with the chief executives of energy companies Monday to discuss the plans. The companies were receptive to the idea, which means they will avoid a windfall tax and see the shortfall in their revenue covered by the taxpayer, a person present said.

[1andrew1]

Originally Posted by Damien

First details of the Government plan to cap energy bills: https://www.bloomberg.com/news/artic...ls-below-2-000

I imagine most people's reactions will be along the lines of a sigh of relief followed by "Looks like a win-win for the energy companies".

The companies were receptive to the idea, which means they will avoid a windfall tax and see the shortfall in their revenue covered by the taxpayer, a person present said.

[Jaymoss]

Originally Posted by 1andrew1

I imagine most people's reactions will be along the lines of a sigh of relief followed by "Looks like a win-win for the energy companies".

I wont relax till I see it official and yeah you only need to see BP and Shells profits at the current price cap and the previous one hitting record highs let alone how high they are going to get next year. It is obscene

[Julian]

So no need for the £400 bill assistance?

[Jaymoss]

Originally Posted by Julian

So no need for the £400 bill assistance?

that was to help with Aprils hike iirc

But if they cap it at now prices for 18 months I will not mind them keeping that

The £400 was this winter, reckon they'll scrap it.

Labour's plan also was to scrap this to pay for the freeze.