Energy bills could go up by 40%

[0iD]

As if living and working wasn't expensive enough already....
http://news.bbc.co.uk/1/hi/business/7461635.stm

Originally Posted by News.BBC

Household energy bills could increase by as much as 40% this winter, the BBC has learned, as oil and wholesale gas prices hit record highs.

The increases could mean households paying £400 more a year on average for their gas and electricity, senior industry sources have said.

Deep joy Food's becoming stupidly expensive, petrol to get to work is just silly & now this.

But hey, at least the good news is

However, some analysts forecast the increases will be nearer 25%.

[Koolpc]

Just seen this on the news. I am seething! Fed up with increasing bills.

[tiggerai]

*sigh*

I have a feeling I'm gonna have to relocate back home a lot quicker than thought.

and I'll have to put the rent up, again.

[TheAnimus]

or just use less heating, when the Wii came out, i worked out i could either buy a Wii, or have the central heating on. The Wii won.

The bills will have to rise, the companies are simply not making enough profit, the raw costs of Oil and Gas have risen sharply. Coal is also rising in price quite a bit, thou not as much.

I fear a lot of the 'good work' from the thatcherite movement could be easily un-done by complete incompitence with global economics.

Tigs hun, don't start worrying yet, whilst mervin king is wanting to put on a show of strength by not cutting rates for a while yet, he simply can't wait much longer the pressure is mounting.

[G4Z]

Well that is my pay rise swallowed up already...

This has been going on for ages though, the governments been having a right old laugh about convincing the public that inflation has been under 2% for the last few years.

[pc_geek]

Guess we were doomed as soon as The grand old Bank Of England helped out the lumbering failure known as Northern Rock They were a "ticking" financial disaster "timebomb" waiting to go off...

[TheAnimus]

pc geek, they really, really werent that bad, its not the old labour style privatisation.

Fact is the business itself is ok-ish. The problem is they require too much short term money, and LIBOR is too high. So what this means is that the tax payer is taking risk lending to NRK at a rate thats not competatitve. Its not really a factor in this inflation.

The main problem is the old idea of breaking inflation relied on stopping as much cash been put into circulation not only by base rate control, but by making people be paid a fair wage thats based on demand, not a bunch of ******s striking until they get what they think they work (which is overally inflated by nature).

We've not seen a new incredible burst of cash injected via the form of cheap credit, this has almost been blinding and sheilding us from the true rising costs of living, alowing us to keap buying stupidly ahead of our earnings.

Now this is going to dry up even more, I had a credit card company actually ask to lower my limit on a card i wasn't using, so i closed it. I've now effectivly got 5k less liquidity, this isn't a unique situation.

We've got the so called Young Proffesionals people commonly having HALF their net income worth of debt.

Now all of a sudden the rest of the world has been slowly getting richer, whilst we've not, as such you have to out bid them for even the simple staples.

Plus political situations such as the whole russia debcal arent going to make the price of gas any easyer to swallow.

[pc_geek]

Guess i gotta buckle up and pay some credits off. Won't be losing sleep over it all just yet tho'...
At least not until Repo' Man comes a knockin

[TooNice]

Why not wear a jumper? I made it one winter without switching the heating on at all when I had no flatmate just by wearing long sleeves (as opposed to thin undershirt). It won't help with the electricity used in Folding, but it will help with gas at least.

[Stringent]

If inflation is due to go up by 4% HOW can all the energy go up by 40%? Someone explain?

/me is economically challenged.

[Funkstar]

Energy prices are based on the raw cost of the hydrocarbons used to produce them. these are by no means restricted to inflation

[Stringent]

So why have those shot up?

[Funkstar]

Supply and demand.

Market forces.

Oil and gas producers are only able to satisfy demand, there is no spare capacity.

When lots of poeple want something that is is short supply, the prices go up.

And because they are publicly traded commodities, when traders get jittery over political instabilities, prices can go up.

I'm sure someone like TheAnimus can explain it far far better than I can.

And as for inflation: it doesn't make prices go up, inflation figures are a way of showing the average increase in a cross section of prices. This is measured using the Consumer Price Index in the UK.

[pollaxe]

Can we not render down the majority of politicians and city traders and burn them as fuel instead? Strikes me as a win-win situation.

[Ferral]

I'm with Pollax on that one. Especially the politicians. Get rid of most of them and the country in general will have a lot more money

[tiggerai]

Originally Posted by TheAnimus

or just use less heating, when the Wii came out, i worked out i could either buy a Wii, or have the central heating on. The Wii won.

The bills will have to rise, the companies are simply not making enough profit, the raw costs of Oil and Gas have risen sharply. Coal is also rising in price quite a bit, thou not as much.

I fear a lot of the 'good work' from the thatcherite movement could be easily un-done by complete incompitence with global economics.

Tigs hun, don't start worrying yet, whilst mervin king is wanting to put on a show of strength by not cutting rates for a while yet, he simply can't wait much longer the pressure is mounting.

My heating only goes on for 40 mins, morning then night in the winter (and that's mainly because it's heating water at the same time) and goes off from april till october. Any more than that and I'd roast!

Oh also, while burning politicians, can we get the council people out who have no common sense whatsoever, and stop putting people through expensive court proceedings for a 90p bus fare.

Tigs for prime minister.

Rarely tumble dry my clothes, they dry hung up all over the house and on a hanger in the lounge. My main PC has been off for about 2 weeks now, only use my laptop

Seriously, if I could have saved money by now, I would have done it. I am worrying... it's already hard to survive for me at the moment, and getting tougher means taking some drastic cuts.