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Has the age of "Pinflation" and crazy prices finally ended?

Neil McRae said:
that isn't the case sorry, here in the UK its super bad this year because of the yield from renewables being very poor, there is a load of other nonsense posted in this thread about renewables and how you buy them. At work I don't buy anything other than renewables, we don't use a sausage of gas
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Sorry, but that is completely incorrect. BT are buying renewable energy credits, you are not buying renewable energy unless they have a direct line to the wind farm turbines (which they don’t). What does BT (or other companies) do when the wind doesn’t blow and there is no ‘green energy’ coming down the pipes? They have to use gas powered electricity.

All the electricity is in the NTS no matter how it produced, so it is a total green fairytale that you can say you only use ‘green electricity’.

And as for needing gas, you cannot run a gas boiler on electricity.
 
JAG555 said:
Sorry, but that is completely incorrect. BT are buying renewable energy credits, you are not buying renewable energy unless they have a direct line to the wind farm turbines (which they don’t). What does BT (or other companies) do when the wind doesn’t blow and there is no ‘green energy’ coming down the pipes? They have to use gas powered electricity.

All the electricity is in the NTS no matter how it produced, so it is a total green fairytale that you can say you only use ‘green electricity’.

And as for needing gas, you cannot run a gas boiler on electricity.
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Sorry dood I know exactly what I am buying and it isn't what you state above! We only use renewable energy.

Regards,
Neil.
 
Neil McRae said:
Sorry dood I know exactly what I am buying and it isn't what you state above! We only use renewable energy.

Regards,
Neil.
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How? Explain how it works? Does BT have a green electricity pipe that no one else has?

A better way to explain it is as a river. All the electricity (renewable, gas or nuclear) goes into a river and your home or business pulls it from the river. It’s all mixed in together, but you pay your electricity company for renewable or green energy. They then go and pay producers for renewable energy. So you can say you only buy ‘green’ energy credits, but you cannot say you only use green energy, it’s impossible, unless you are hooked up direct to the turbines and you would have blackouts, regularly.
 
Just because the certificates you buy say it's from a renewable source doesn't mean you're getting that energy. As a previous poster rightly said you think they're plumbing in a new supply from the grid for you? Certainly not.
 
Neil McRae said:
that isn't the case sorry, here in the UK its super bad this year because of the yield from renewables being very poor, there is a load of other nonsense posted in this thread about renewables and how you buy them. At work I don't buy anything other than renewables, we don't use a sausage of gas, but the overall energy price is determined by overall demand and you are right in that gas is a huge factor in that but we only need more gas because the yield on renewables has been **** poor. But if you think its bad here, check out prices in Germany.

The French have just bought out EDF because it was going to go bust because the PM over there has frozen prices, adding 8B euro's to the debt pile.

The reason we are in this mess is because during covid loads of free money was given out to people who really didn't' need it or they were getting paid on some scheme not to work and then they were allowed to do work elsewhere (!) everybody started to buy stuff to build man caves, pinballs, table tennis tables etc meanwhile the debt pile goes up and up and up, and who gets rich from debt? Bankers and investors.
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I'm afraid I don't buy this - I've not seen this explanation reported anywhere, and it doesn't make sense to me if I'm honest. The wholesale electricity price, which is the main driver of our domestic prices, is based on the most expensive source of electricity - which is currently gas burning - it doesn't matter where that electricity originated (gas, renewables, coal, whatever), the gas price is currently the one that dictates the wholesale cost rises. And gas is expensive because Putin has reduced (switched off today) supply. Around 40% of our electricity comes from gas burning, so massive increases in gas prices result in massive increases in wholesale prices then massive increases in our bills.

I'm not sure about the renewable yields you mentioned, but I'd be surprised (and would want to see some evidence) if any yield variation wasn't actually planned for by having a mix of sources (i.e. it's a moot point in the situation being discussed)
 
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JT. said:
I'm afraid I don't buy this - I've not seen this explanation reported anywhere, and it doesn't make sense to me if I'm honest. The wholesale electricity price, which is the main driver of our domestic prices, is based on the most expensive source of electricity - which is currently gas burning - it doesn't matter where that electricity originated (gas, renewables, coal, whatever), the gas price is currently the one that dictates the wholesale cost rises. And gas is expensive because Putin has reduced (switched off today) supply. Around 40% of our electricity comes from gas burning, so massive increases in gas prices result in massive increases in wholesale prices then massive increases in our bills.

I'm not sure about the renewable yields you mentioned, but I'd be surprised (and would want to see some evidence) if any yield variation wasn't actually planned for by having a mix of sources (i.e. it's a moot point in the situation being discussed)
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This is exactly how it works . The unit price cap is based on the most expensive input price , in this case gas, regardless of whether the % of energy coming from other lower cost sources is 5%, 10% or 20%. So renewables not providing enough of course affects someone, but it doesn't affect what we all pay .
The thing always to remember though is when someone pays something, someone else gets it . It doesn't disappear . So in what is going to be a desperate situation you have to follow the money and then recover it from who has now got it so you can help those in desperate need . Hence why a windfall tax makes sense . It's just anathema to the Conservative party and the likes of Liz Truss in particular.
 
And I also hear a lot about people simply having to make 'choices'. Some of it well meaning . But there is a knock on effect. For example the other day they had a call in on the radio about saving money whilst on your holidays . So day at the beach instead of visiting local attractions, take a picnic instead of eating out , etc. etc . But all of these costs are someone else's income . Local business and small independent ones mainly as well . When a huge proportion of the population has a similarly huge proportion of their previously disposable income siphoned out to global energy companies with shareholders who won't spent that money or don't even live here anyway , it's not hard to imagine what the effect will be . These businesses also face even larger energy increases than domestic users whilst their turnover will fall off a cliff . We are looking at possibly irreversible culls to our hospitality , leisure and what's left of retail sectors . Sorry to be a doom monger but I really can't believe anyone can think this will somehow just work itself out
 
Andy Hancock said:
And I also hear a lot about people simply having to make 'choices'. Some of it well meaning . But there is a knock on effect. For example the other day they had a call in on the radio about saving money whilst on your holidays . So day at the beach instead of visiting local attractions, take a picnic instead of eating out , etc. etc . But all of these costs are someone else's income . Local business and small independent ones mainly as well . When a huge proportion of the population has a similarly huge proportion of their previously disposable income siphoned out to global energy companies with shareholders who won't spent that money or don't even live here anyway , it's not hard to imagine what the effect will be . These businesses also face even larger energy increases than domestic users whilst their turnover will fall off a cliff . We are looking at possibly irreversible culls to our hospitality , leisure and what's left of retail sectors . Sorry to be a doom monger but I really can't believe anyone can think this will somehow just work itself out
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Exactly this!

All this money they are now squeezing out of everyone which would of been spent growing the economy is now just going to some CEO or investor. Pure greed nothing else. And a lot of people will suffer because of it. I have no problems with investors making a return but the company should not do this at the expense of making half the uk population not be able to afford there electric bill.
 
Neil McRae said:
that isn't the case sorry, here in the UK its super bad this year because of the yield from renewables being very poor, there is a load of other nonsense posted in this thread about renewables and how you buy them. At work I don't buy anything other than renewables, we don't use a sausage of gas, but the overall energy price is determined by overall demand and you are right in that gas is a huge factor in that but we only need more gas because the yield on renewables has been **** poor. But if you think its bad here, check out prices in Germany.

The French have just bought out EDF because it was going to go bust because the PM over there has frozen prices, adding 8B euro's to the debt pile.

The reason we are in this mess is because during covid loads of free money was given out to people who really didn't' need it or they were getting paid on some scheme not to work and then they were allowed to do work elsewhere (!) everybody started to buy stuff to build man caves, pinballs, table tennis tables etc meanwhile the debt pile goes up and up and up, and who gets rich from debt? Bankers and investors.
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Spot on that last bit
 
Neil is spot on about bounce back loans the government just handed out the money when you answer 3 easy questions plus lots of other grant money handed out that didn’t need to be payed back the banks did no background work to see if the company was massively in debt or even needed the money lots of this was then removed from the company in to personal account s and spent on new cars hot tubs and lots of other **** hence inflation has rocketed move on 2 years and lots of theses companies have surprisingly gone in to liquidation
One other thing pure greed wren kitchens where given 7.5 million in grant money to support the company yet they made record profit s of 21 million that year and refused to pay the grant back but the owner is a massive Tory funder
People have also got to remember they have never had it this good with the cost to borrow money so cheep many people my age will remember 13% interest rates
Interest rates at 0.5% only make people over borrow and it’s not long before after big interest rate rises they are in the ****
And as a saver there is absolutely no point saving so you spend but again when the **** hits the fan you have nothing to fall back on I recon over 50% of people live beyond there means
If you want to see the pound go up against the dollar and inflation to come down then the boe need to be much more hawkish on interest rates
 
This is all by design though and part of the great reset. And as for Liz Truss she got the nod 6 months ago to be PM.

I don't care if anyone believes this or not but that's the way it's going to unfold. Time to pull your pension pot into a sipp before the FTSE starts to tank.
 
Neil McRae said:
The reason we are in this mess is because during covid loads of free money was given out to people who really didn't' need it or they were getting paid on some scheme not to work and then they were allowed to do work elsewhere (!) everybody started to buy stuff to build man caves, pinballs, table tennis tables etc meanwhile the debt pile goes up and up and up, and who gets rich from debt? Bankers and investors.
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Got to agree with Neil on this one. What shocks me is that any self respecting economist could not have foreseen this which seemd pretty obvious at the time, that f you throw additional money into the economy, it's going to create massive inflation. We saw this first hand with pinball prices before it filetered into the more staple goods.

That's what angers me so much about the over reaction to the virus that all the consequences were either ignored or brushed away, most of which were as if not much more damaging than the virus itself and shows what happens if you let the blinkered risk averse scientists run the country where they only one have objective in mind rather than considering the wider picture and consequences for everyone.
 
Neil McRae said:
AHAHA are you joking? Klaus Schwab - he has more faces than the Bride of Pinbot.
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Joking in what way? He wrote a book, explain yourself instead of writing stupid comments.
 
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I love a good conspiracy theory but it’s hard to believe government’s can be that clever to mastermind anything.

Sadly it’s far more likely to be a combination of incompetence and disinterest.

Working for the public sector is a real eye opener. Today I’ve wasted my life sending other centres details by bloody fax machines, chased up two missing paper cheques, watched someone demonstrate the importance of GDPR legislation whilst he shared his entire email inbox on a giant presentation screen and I **** you not the whole of the staff have been subjected to watching a 10 min YouTube video on how to use the new phone system. Turns out you have to pick up the phone and dial. (Shock horror.). It also ignores the fact I share the phone with 12 other people so their handy system of sending everyone of the 12 of us a message on the computer screen when someone rings isn’t going to become at all annoying while we’re teaching.

Given that ordering pens and paper has so far taken over 9 weeks and 3 forms I’m pretty bloody certain our government is highly unlikely to get off their bloody ****s and come up with any practical solutions to the energy crisis any time soon.
 
Arv said:
Joking in what way? He wrote a book, explain yourself instead of writing stupid comments.
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Go read more of his books, then observe what he preaches and what he practices.
 
Arv said:
This is all by design though and part of the great reset. And as for Liz Truss she got the nod 6 months ago to be PM.

I don't care if anyone believes this or not but that's the way it's going to unfold. Time to pull your pension pot into a sipp before the FTSE starts to tank.
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There we go Liz Truss announced as PM now off to spend my winnings..
 
Arv said:
This is all by design though and part of the great reset. And as for Liz Truss she got the nod 6 months ago to be PM.

I don't care if anyone believes this or not but that's the way it's going to unfold. Time to pull your pension pot into a sipp before the FTSE starts to tank.
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FTSE is starting to tank now. Testing support around 6990.
 
Started to see a few indicators that consumer confidence is flagging, went online shopping for a new phone recently for the Mrs, one thing that struck me was the incentives on offer for the expensive phones, at a time when components are supposed to be hard to source and xmas is coming up? by the time we claimed all the offers we payed less than half the advertised price, buying a much better model for our modest-ish budget.

I'm putting flashy phones and pins in the same category, nobody really needs one, but I really think people are starting to think twice about big purchases or committing to extra ongoing expense.
 
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