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GAS UP AGAIN!!!
- Thread starter AnnM1
- Start date
Well for starters, the price of gas is linked to the price of oil - say no more on that one.
We are also nett importers of gas now, so we can`t hide behind the notion that we get it all from the North Sea and immune from external market forces.
We also have a very small storage capacity for gas compared with countries such as France, so our reserves are smaller hence prices rise quicker.
Oh, and the Companies put up prices for one other reason.
Because they can.
We are also nett importers of gas now, so we can`t hide behind the notion that we get it all from the North Sea and immune from external market forces.
We also have a very small storage capacity for gas compared with countries such as France, so our reserves are smaller hence prices rise quicker.
Oh, and the Companies put up prices for one other reason.
Because they can.
G
Guest
It's worth noting that the spot price of gas for winter delivery has fallen sharply in recent days.
So..............are BG too incompetent to buy at the best price, or simply another near-monopoly with a licence to print money?
Some things rightfully belong in public ownership - and energy is one of them.
So..............are BG too incompetent to buy at the best price, or simply another near-monopoly with a licence to print money?
Some things rightfully belong in public ownership - and energy is one of them.
The results of Mrs Thatchers idea of Utopia, privatise everything. The French don't allow outside interference or profit making in their utilities so why should we?
G
Guest
Perhaps 'Europe' would be a wonderful thing *if* the UK could follow the French example - 'pick the bits you want, and s*d the rest' - instead of slavishly obeying every dictat and implementing every directive.
Europe works if you don't take it too seriously.
Europe works if you don't take it too seriously.
LONDON (AFP) - Energy firm Centrica reported group operating profits of a whooping 992 million pounds for the six months to June 30.
(Advertisement)
Though the figure is 19 percent below last year, it was still 100 million pounds more than the 880 million expected by City forecasts.
The figures came in as the company on Wednesday announced a hike in domestic gas prices by 35 percent and electricity prices by nine percent because of the rocketing cost of wholesale energy.
The owner of British Gas said in a statement that wholesale costs were sharply higher because of falling gas reserves in Britain, record high oil prices and rampant global energy demand particularly from Asia.
"British Gas today (Wednesday) announced that soaring wholesale energy prices have forced it to increase tariffs for domestic gas and electricity," the group said.
"Wholesale gas prices for the coming winter have increased by 89 percent on the previous winter." That was an increase in market commodity costs of around 2.0 billion pounds, it added.
British Gas is the country's largest household gas supplier with 15.9 million customers.
Increasing global energy demand was cited as a major reason for sky-high wholesale costs.
"Countries in all parts of the world, including fast-growing Asian economies, are attracting gas cargoes at oil-inflated high prices and thus the volume of gas shipped to the UK has fallen 60 percent," Centrica said.
The group's new prices came into immediate effect and followed a round of hikes last week by the British division of Electricite de France (EDF).
"We very much regret that we have had to make this decision at a time when many household budgets are already under pressure," said British Gas managing director Phil Bentley in the release.
"The simple fact though, is that we have entered an era of unprecedented high world energy prices.
"The only answer to cope with higher energy prices, I'm afraid, is for all of us to be more energy efficient and we will be contacting all our British Gas customers to show how they can save energy to try and offset these price rises."
All major energy providers in Britain announced large price increases in the first three months of this year, while Centrica had signalled in May that it could ramp them up again.
In commodity markets earlier this month, oil prices hit record highs above 147 dollars per barrel amid tight crude supplies, geopolitical fears in key producers Iran and Nigeria, and runaway energy demand from China and India.
London's Brent crude oil jumped to a historic peak of 147.50 dollars per barrel on July 11.
Crude prices have since tumbled by about 25 dollars per barrel on worries about weakening US energy demand, traders said. However, they remain more than 20 percent higher than at the start of the year.
Meanwhile, runaway oil prices and soaring domestic energy costs are helping to fuel rising inflation in Britain.
The country's 12-month inflation jumped to a 16-year high point of 3.8 percent in June, owing to big rises for fuel and food, according to recent official data.
(Advertisement)
Though the figure is 19 percent below last year, it was still 100 million pounds more than the 880 million expected by City forecasts.
The figures came in as the company on Wednesday announced a hike in domestic gas prices by 35 percent and electricity prices by nine percent because of the rocketing cost of wholesale energy.
The owner of British Gas said in a statement that wholesale costs were sharply higher because of falling gas reserves in Britain, record high oil prices and rampant global energy demand particularly from Asia.
"British Gas today (Wednesday) announced that soaring wholesale energy prices have forced it to increase tariffs for domestic gas and electricity," the group said.
"Wholesale gas prices for the coming winter have increased by 89 percent on the previous winter." That was an increase in market commodity costs of around 2.0 billion pounds, it added.
British Gas is the country's largest household gas supplier with 15.9 million customers.
Increasing global energy demand was cited as a major reason for sky-high wholesale costs.
"Countries in all parts of the world, including fast-growing Asian economies, are attracting gas cargoes at oil-inflated high prices and thus the volume of gas shipped to the UK has fallen 60 percent," Centrica said.
The group's new prices came into immediate effect and followed a round of hikes last week by the British division of Electricite de France (EDF).
"We very much regret that we have had to make this decision at a time when many household budgets are already under pressure," said British Gas managing director Phil Bentley in the release.
"The simple fact though, is that we have entered an era of unprecedented high world energy prices.
"The only answer to cope with higher energy prices, I'm afraid, is for all of us to be more energy efficient and we will be contacting all our British Gas customers to show how they can save energy to try and offset these price rises."
All major energy providers in Britain announced large price increases in the first three months of this year, while Centrica had signalled in May that it could ramp them up again.
In commodity markets earlier this month, oil prices hit record highs above 147 dollars per barrel amid tight crude supplies, geopolitical fears in key producers Iran and Nigeria, and runaway energy demand from China and India.
London's Brent crude oil jumped to a historic peak of 147.50 dollars per barrel on July 11.
Crude prices have since tumbled by about 25 dollars per barrel on worries about weakening US energy demand, traders said. However, they remain more than 20 percent higher than at the start of the year.
Meanwhile, runaway oil prices and soaring domestic energy costs are helping to fuel rising inflation in Britain.
The country's 12-month inflation jumped to a 16-year high point of 3.8 percent in June, owing to big rises for fuel and food, according to recent official data.
I leave in an area where we can't get gas at all. Our heating and hot water is oil fired and the price of that goes up DAILY if not HOURLY!
How many times have seen what was a previously a publically owned company now under private ownership putting up prices and then announcing massive increases in share holder dividends, and bonuses for the directors.
The majority of our public services are now controlled by none UK owners, and they raise prices purely with profit in mind rather than for good social fairness.
It is my considered opinion that the privatisation of the organisations that manage our national and natural resources was a very bad move. what should have been done was to bring private sector style management to the organisations to sharpen up their activity, but retaining them in the publically owned sector on a not for profit basis.
With less players in the market the price of raw supplies would been more stable.
The majority of our public services are now controlled by none UK owners, and they raise prices purely with profit in mind rather than for good social fairness.
It is my considered opinion that the privatisation of the organisations that manage our national and natural resources was a very bad move. what should have been done was to bring private sector style management to the organisations to sharpen up their activity, but retaining them in the publically owned sector on a not for profit basis.
With less players in the market the price of raw supplies would been more stable.
" With less players in the market the price of raw supplies would been more stable "
John I agree they may have been more stable, but not cheap, the industry would have had a monoply. Remember British Steel the biggest loss maker in History ???. People tend to look back through rose tinted specs. Just look at the Goverment today they would have milkied the public through Energy Prices a new Stealth Tax, look at Fuel Prices to see the result of Stealth Taxation.
John I agree they may have been more stable, but not cheap, the industry would have had a monoply. Remember British Steel the biggest loss maker in History ???. People tend to look back through rose tinted specs. Just look at the Goverment today they would have milkied the public through Energy Prices a new Stealth Tax, look at Fuel Prices to see the result of Stealth Taxation.
G
Guest
How long will the UK population put up with being fleeced and duped, and remain silent while their country is pimped by corrupt politicians and their speculator owners?
How long will they remain silent while foreign 'investors' take control of their birthright?, how much suffering will it take before they realise *they* have the power - and that if they would only stand up and be counted they could regain control of what is rightfully theirs from those who stole it?
How long before they realise that only a truly Nationalist government can help them?
How long will they remain silent while foreign 'investors' take control of their birthright?, how much suffering will it take before they realise *they* have the power - and that if they would only stand up and be counted they could regain control of what is rightfully theirs from those who stole it?
How long before they realise that only a truly Nationalist government can help them?
Unfortunately, mate, it`s likely to be a long time after me and thee have become worm-fodder.
It seems the only part of the electorate you can rely on to vote in significant numbers are the " `owt for nowt" brigade, many of whom demand more and more public services, more handouts and don`t give a stuff about things that don`t concern them - like the economy.
As long as some self-righteous, self-serving oaf puts himself up for election and promises them the earth, they`ll crawl out of their pubs and from behind their tellys and x-boxes and vote for them en masse. Work? ****** off, thats for mugs and someone else to do.
The only time that is likely to change is in the future when the comparatively prosperous nations such as Africa and the South Americans demand we actually do something to deserve their handouts.
We are truly going down the pan.
It seems the only part of the electorate you can rely on to vote in significant numbers are the " `owt for nowt" brigade, many of whom demand more and more public services, more handouts and don`t give a stuff about things that don`t concern them - like the economy.
As long as some self-righteous, self-serving oaf puts himself up for election and promises them the earth, they`ll crawl out of their pubs and from behind their tellys and x-boxes and vote for them en masse. Work? ****** off, thats for mugs and someone else to do.
The only time that is likely to change is in the future when the comparatively prosperous nations such as Africa and the South Americans demand we actually do something to deserve their handouts.
We are truly going down the pan.
Hello Gumbo,
I chose my words carefully, and yes I agree that the prices may not have been so keen, but at least the violent swings would not have been so severe, and fewer of the less well off would have been so severely affected.
The volatility of the economy is down to the speed at which speculators can change their approach to any particular event, We are talking of only seconds now for a commodities trader to change a bid or sale price, so there is less inertia in the systems. This leads to the rapid changes which if a run of sorts is spotted, suddenly every one jumps and this accelerates the event.
In mechanical and electronic control systems, damping is used to help control excessive swings of a system, remove the damping and the conditions can start to oscillate and eventually cause a crash - strange that sounds like caravan instability!
That is exactly what is now happening in the money and commodities markets.
I chose my words carefully, and yes I agree that the prices may not have been so keen, but at least the violent swings would not have been so severe, and fewer of the less well off would have been so severely affected.
The volatility of the economy is down to the speed at which speculators can change their approach to any particular event, We are talking of only seconds now for a commodities trader to change a bid or sale price, so there is less inertia in the systems. This leads to the rapid changes which if a run of sorts is spotted, suddenly every one jumps and this accelerates the event.
In mechanical and electronic control systems, damping is used to help control excessive swings of a system, remove the damping and the conditions can start to oscillate and eventually cause a crash - strange that sounds like caravan instability!
That is exactly what is now happening in the money and commodities markets.
Hello John L, you are quite right. As a long-term control and instrumentation engineer, i have long felt that if you could apply PID control to the oscillations of the economy it should get sorted out in a reasonably short time. If you want to get a mite more sophisticated, then cascade control shoud do the trick - after all there is no shortage of things to measure, and the desired values are self evident.
getting even more refined, there is a well known technique called a Smith Predictictor (no relation). Perhaps you, Rob Jax and I should get together on this.
G
Guest
John wrote:
The volatility of the economy is down to the speed at which speculators can change their approach to any particular event, We are talking of only seconds now for a commodities trader to change a bid or sale price, so there is less inertia in the systems. This leads to the rapid changes which if a run of sorts is spotted, suddenly every one jumps and this accelerates the event⇦br/>
This presupposes that we are going to continue playing by the speculators rules.
Why should we? - they invented the game of Capital, they devised the rules, and they ensured that they would always be the winners.
Suppose we started to play a very different game?, a game which wasn't heavily weighted in their favour, a game that denied them the hundreds of billions of pounds that they loot from us?
What could they do to stop a united people with a determined leader? - nothing, zilch, zero.
They have built an entire system to ensure that they remain rich - they buy politicians to pass laws designed to enable them to continue their theft. They use every trick in the book to bully, bribe, brainwash and coerce this nation into believing that there is no other system by which we can live, that there is no alternative other than to allow them to continue looting and stealing.
But there *is* an alternative - it just takes determination to pursuer it.
One of Hitler's most popular acts in pre-war Germany was the nullification of unfair personal debts and loans.
Simply put, they were rendered null and void at the stroke of a pen! - and not all the anguish and fury of the usurers combined could do a damn thing to stop it, and it goes without saying that this act alone was enough to make Hitler the personification of bile to those who live by the efforts of others. Yet it was immensely popular with the German people, and would be immensely popular with a UK population being bled to death by worthless speculators and idle bankers.
The German people realised that they were only in thrall to international finance if they allowed themselves to be - and when they decided to cast off the chains of the moneylenders, no-one could stop them.
So it is today - don't believe the lies and deceit's peddled in order to keep us in financial bondage - the wealth of a nation does not depend on bits of paper or on-screen balances, true wealth lies in the power and resources of a nation, and in the hearts and will of its inhabitants.
The volatility of the economy is down to the speed at which speculators can change their approach to any particular event, We are talking of only seconds now for a commodities trader to change a bid or sale price, so there is less inertia in the systems. This leads to the rapid changes which if a run of sorts is spotted, suddenly every one jumps and this accelerates the event⇦br/>
This presupposes that we are going to continue playing by the speculators rules.
Why should we? - they invented the game of Capital, they devised the rules, and they ensured that they would always be the winners.
Suppose we started to play a very different game?, a game which wasn't heavily weighted in their favour, a game that denied them the hundreds of billions of pounds that they loot from us?
What could they do to stop a united people with a determined leader? - nothing, zilch, zero.
They have built an entire system to ensure that they remain rich - they buy politicians to pass laws designed to enable them to continue their theft. They use every trick in the book to bully, bribe, brainwash and coerce this nation into believing that there is no other system by which we can live, that there is no alternative other than to allow them to continue looting and stealing.
But there *is* an alternative - it just takes determination to pursuer it.
One of Hitler's most popular acts in pre-war Germany was the nullification of unfair personal debts and loans.
Simply put, they were rendered null and void at the stroke of a pen! - and not all the anguish and fury of the usurers combined could do a damn thing to stop it, and it goes without saying that this act alone was enough to make Hitler the personification of bile to those who live by the efforts of others. Yet it was immensely popular with the German people, and would be immensely popular with a UK population being bled to death by worthless speculators and idle bankers.
The German people realised that they were only in thrall to international finance if they allowed themselves to be - and when they decided to cast off the chains of the moneylenders, no-one could stop them.
So it is today - don't believe the lies and deceit's peddled in order to keep us in financial bondage - the wealth of a nation does not depend on bits of paper or on-screen balances, true wealth lies in the power and resources of a nation, and in the hearts and will of its inhabitants.
Yea! Too right.
.
.
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