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Centrica Warns Of Even Higher Gas Prices

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The nearest BBC story I've found is:

http://news.bbc.co.uk/2/hi/business/4996522.stm

Centrica said trading at the start of the 2006 was challenging, and that its wholesale costs were still rising.

The company made the comments ahead of its annual general meeting on Friday.

It warned that despite its 22% price rise in February, "the wholesale cost of gas and electricity continued to escalate".

Looking ahead, Centrica said that without a drop in wholesale energy prices, and at its existing tariff levels, British Gas' residential arm will be loss-making in 2006.

Up, up and awayeeeeee.....

:o:o

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The facts and nulabfigures given indicate that we're still sourcing lots of gas from the north sea so why we're SO affected by the increasing prices in europe I don't know.

Oh yes I do. Companies are getting incredibly rich off the price increases ...

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But inflation is 'steady at 2%' :rolleyes:

Went to comet yesterday to look at getting a new fridge-freezer - we'd seen one for 279 the week so was horrified to find its 299...

Have just checked it online now and today its 329.

The woman I spoke to in the store said its cos they price match and that works both ways.

So in terms of inflation on this fridge-freezer its £40 dearer in a week - what % is that?

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Went to comet yesterday to look at getting a new fridge-freezer - we'd seen one for 279 the week so was horrified to find its 299...

Have just checked it online now and today its 329.

The woman I spoke to in the store said its cos they price match and that works both ways.

So in terms of inflation on this fridge-freezer its £40 dearer in a week - what % is that?

How the hell can you price match each way..... is she thick

((329/279)*100)-100 = 17.92% increase

Edited by Nick T

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How the hell can you price match each way..... is she thick

((329/279)*100)-100 = 17.92% increase

"It works both ways if they put up their prices so do we"

From their site

"So, if you find a product on our website priced lower on argos.co.uk, carphonewarehouse.com, currys.co.uk, dixons.co.uk, johnlewis.com, pcworld.co.uk, tesco.com, thelink.com or in a local store (one within 10 miles of your nearest Comet store), bring the lower price to our attention and we'll not only match the price but also beat it by 10% of the difference.

What's more the Comet Price Guarantee applies for up to 14 days after you've made your purchase with us

"

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How the hell can you price match each way..... is she thick

((329/279)*100)-100 = 17.92% increase

:lol:

Depends on the condition, if they match to the lowest prices offerd by company x,y, and z then they can adjust up or down, imagine though if x,y and z all price match, on the surface of it though it does seem a bit odd :)

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Could be we should expect large increases in gas and electricity prices every year.

Now, how long to plan and build nuclear power stations?

Those things don't come cheap when all costs are included so the energy supplied isn't going to be necessarily cheaper when when (if?) they come on stream.

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"It works both ways if they put up their prices so do we"

From their site

"So, if you find a product on our website priced lower on argos.co.uk, carphonewarehouse.com, currys.co.uk, dixons.co.uk, johnlewis.com, pcworld.co.uk, tesco.com, thelink.com or in a local store (one within 10 miles of your nearest Comet store), bring the lower price to our attention and we'll not only match the price but also beat it by 10% of the difference.

What's more the Comet Price Guarantee applies for up to 14 days after you've made your purchase with us

"

The Thick statement wasn't directed at you Sarah. it was directed at the lady in comet.

if you find a product on priced higher than we sell it at, please bring it to our attention so we can rip you off even more of your hard earn cash

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The Thick statement wasn't directed at you Sarah. it was directed at the lady in comet.

if you find a product on priced higher than we sell it at, please bring it to our attention so we can rip you off even more of your hard earn cash

Yeah just emphasiign their rules.

If we didn't get a masisve 20% voucher I'd probably not be shopping there ;-)

Could be we should expect large increases in gas and electricity prices every year.

Now, how long to plan and build nuclear power stations?

Those things don't come cheap when all costs are included so the energy supplied isn't going to be necessarily cheaper when when (if?) they come on stream.

8-10 years approx from start of building til first power out. I asked the government a while ago. ;-) Although that excludes planning inquiries and problems with permissions.

So if every year you put up 1000 wind tubrines too you probably wouldn't need the power station at the end of ten years.

(the bbc energy calculator reckoned you needed 10,000 wind turbines to supply the Uk's energy needs by wind alone)

I think its insanity to build nuclear - ten years is just too long. We need to be bringing renewables on stream constantly until we've met demands.

NIMBY power really sucks though - they wanted to put some turbines on Saddleworth and they've stopped them cos it'll spoil the view.

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We could still be self sufficient in Gas....if only sucessive Govt's hadn't pissed it all against the wall as soon as physically possible.

Same mentality exists today. Don't underestimate the economic carnage for the UK as North Sea assets decline and so does the tax revenue which underpins the economy. Oh and there is the small consideration of the environment.. **** the environment, **** the wildlife community, **** record extinctions. Which is the real priority of Britain under NU LAbour.......destroy everything we touch.

It was no coincidence that the UK went into recession when Piper Alha exploded, taking with it a large amount of North Sea production and for a long time.

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It warned that despite its 22% price rise in February, "the wholesale cost of gas and electricity continued to escalate".

My friend is a senior IFA for a very well known company and he visits very wealthy clients, many at the top of large companies. One he visited, very senior in a large energy company said that they haven't even started passing on the increases in costs yet :o

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Yeah just emphasiign their rules.

If we didn't get a masisve 20% voucher I'd probably not be shopping there ;-)

8-10 years approx from start of building til first power out. I asked the government a while ago. ;-) Although that excludes planning inquiries and problems with permissions.

So if every year you put up 1000 wind tubrines too you probably wouldn't need the power station at the end of ten years.

(the bbc energy calculator reckoned you needed 10,000 wind turbines to supply the Uk's energy needs by wind alone)

I think its insanity to build nuclear - ten years is just too long. We need to be bringing renewables on stream constantly until we've met demands.

NIMBY power really sucks though - they wanted to put some turbines on Saddleworth and they've stopped them cos it'll spoil the view.

Windpower is a supreme waste of effort as a primary renewable source. Forget it and invest in other emerging technologies.

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How the hell can you price match each way..... is she thick

((329/279)*100)-100 = 17.92% increase

Isn't that in reality called 'price fixing'

'Methods of price fixing can include selling at a common target price; setting a common "minimum" price'

Illegal?

.

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My friend is a senior IFA for a very well known company and he visits very wealthy clients, many at the top of large companies. One he visited, very senior in a large energy company said that they haven't even started passing on the increases in costs yet :o

IIRC retailers have been holding back on energy inflation feeding through to consumer prices for years in order to maintain sales

Things are slowly going to get more expensive and those official inflation figures are going to look more detached from reality as time goes on...

Edited by dnd

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So centrica sources the gas (rather than buying it), passes it to its subsidiary British Gas who sells it to the monkeys. So the 'price' of wholesale gas goes up due to pressures in the east or whatnot.

So what they are really saying is that 'we can make more by selling british gas to foreigners. If you want to get some you have to pay more as a domestic than the foreigners are willing to pay. Sorry, but there's nowt we can do about it'.

So all you BNP'ers how about you start to make some fuss over that?

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Vaguely related, but I was quite surprised when I got this year's projected water bill - it's gone down from £17 per month to £13.50

Maybe it's a hint that I should shower more...

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Could be we should expect large increases in gas and electricity prices every year.

Now, how long to plan and build nuclear power stations?

Those things don't come cheap when all costs are included so the energy supplied isn't going to be necessarily cheaper when when (if?) they come on stream.

Too right they don't come cheap, and getting rid of them is another story on its own!

The current 'guess' of nuclear power station decomissioning is running at £70bn, although nobody can be sure, because we currently have no long term storage solution for long term radioactive material. Have a look at this article on the decomissioning of one nuclear power station in Wales. 500 employees and contractors, yet it hasn't generateed a watt of electricity for 15 years! The only more expensive method of power generation must be to burn £20 notes.

http://news.bbc.co.uk/1/hi/sci/tech/4700106.stm

Very rarely when this topic is brought up in the media does anybody mention Germany - which is committed to completely phasing out nuclear power in favour of renewables. They are currently forging ahead with developing solar technology, and given that I owned a solar powered calculator, oh about 15 years ago, it will surely be a winner?

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Just consider this for a moment...

The UK and some other countries are already running out of gas just a few years before diminishing oil supplies force a dramatic INCREASE in gas use as a transport fuel. Do all the "we have x years' worth of gas left" maths you want, but remember to DOUBLE your demand assmumptions to include oil replacement demand.

Bottom line is that both oil and gas are scarce resources worldwide. Given that electricity generation is, in most countries, the single largest use of fuel the only sensible course of action now is for a worldwide agreement to scrap oil and gas-fired power generation ASAP and certainly by 2020. The alternative is literally war over the remaining supplies.

"But gas is clean" I hear you say. So what? It simply isn't an option for power generation in the future and of course all the damage of huge international money flows, wars etc is part of the cost both economicially and environmentally. It's anything but clean once all that is added in.

So that leaves us with some combination of renewable, nuclear and coal as being the only way forward for electricity generation. Those countries which continue to rely on oil or gas might as well flush their economy down the toilet now. It's one thing to pay a fortune for transport fuel but it's a far bigger problem when you're also paying a fortune for industrial fuel and electricity as well AND then having to spend another fortune defending the supply of that fuel.

Renewables are certainly the only long term sustainable option but in the context of decisions made today, 100% renewable just isn't realistically achievable. Desirable but not achievable. The decision thus comes down to whether it should be coal or nuclear (or more realistically a combination of both) which make up the balance. IN DUE COURSE URANIUM AND COAL WILL BECOME SCARCE AND A LIABILITY JUST LIKE OIL AND GAS - hence they are a means of plugging the gap and not a long term solution (and of course there's all the problems with waste...).

With the inevitable move away from oil and gas for heating etc the best energy conservation could realistically do is hold electricity use constant. It may well reduce total energy use, but with the shift in the mix of energy technologies used it is highly unlikely that electricity demand will fall. Modest growth is more likely even in an "energy saving" world. Hence the need to invest heavily in electricity generation.

Should new nuclear power stations be built? I'll put it this way. Either new nuclear power stations or new coal-fired power stations need to be built. There's too much oil and gas use to replace to do otherwise. Longer term, renewables will increasingly take over in what has first become a predominantly electric energy system. But we're not going to have 100% or even 50% renewables by the time oil and gas become a massive liability, hence the need for coal and/or nuclear to make up the balance.

As for climate change, in view of the actual trend in worldwide emissions (which would be largely unchanged with or without the Kyoto Protocol) I think the only realistic option is to plan to adapt. That's not my ideal - I would prefer to not mess with the planet in the first place . But with the massive growth in emissions from China, India etc literally swamping anything the rest of the world could do to cut emissions (even if the US was part of Kyoto) there really isn't much chance of actual cuts to emissions without a major technological breakthrough. Hence planning to adapt as best as we can and an ongoing push for longer term technological solutions are the only sensible approach IMO. Agreements etc just aren't going to work in practice unless literally every single country worldwide is bound by it - and that's just not going to happen in a world where we can't even agree to stop blowing each other up. Sad but true IMO.

Edited by Smurf1976

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Vaguely related, but I was quite surprised when I got this year's projected water bill - it's gone down from £17 per month to £13.50

Maybe it's a hint that I should shower more...

if everyone was on meter they'd have to up the price you paid for it else they wouldn't earn enough money to pay huge divis to their shareholders.

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Gas, water and electricty companies should never have been sold.

Just think, these comapnies make big profits and get taxed. The bills go up and we pay more tax.

Who wins the government.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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