Wednesday, Oct 04, 2006

Lower Energy Prices May Save Struggling Home Owners

Times Online: Gas spot-price plunges as pipeline floods UK

Oil has fallen to $60-ish a barrel. Now we have gas flooding the UK network which will [should] result in lower prices. This may offset increases in inflation and provide, through lower energy bills, a life line to hard pressed home owners. Does this mean there will be fewer forced sales - in fact so few there will be no HPC?

Posted by talking rot @ 12:06 AM (456 views)
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1. Benpeter said...

Oil at $60 is still a very high price - it went as low as $11 in 1998 remember - above $25 was considered a boom price. The fall in gas reported here was a one-off technical problem and is irrelevant. An American recession (probably causing a world recession) is the only thing that may cause energy prices to really fall, and that will also affect house prices anyway.

Wednesday, October 4, 2006 03:45AM Report Comment

2. Jake The Muss said...

Talking Rot - Interesting point, but didn't oil prices drop significantly over the early 90's? It didn't starve off a HPC then.

Wednesday, October 4, 2006 08:42AM Report Comment

3. waitingfor hpc said...

well stupid me ! And I thought we had a shortage of oil. And that gas had been subsidised for years as we had our own supplies and did not need to pay lots of mine to import gas and rely on paying profit to another country / organistaion. Of course these people will ship us gas for free and very cheap selling prices just to make sure that inflation is low and we can all sleep at night in our cash cow made of bricks & mortar.

Best get out there and buy me 5 houses right away!

Wednesday, October 4, 2006 08:57AM Report Comment

4. paul said...

"British Gas was dismissive of the significance for consumers of yesterdays negative price"

"A spokeswoman for uSwitch, the energy switching service, said that its customers had seen gas bills increase dramatically this year. We urge Ofgem [the regulator] to ensure that provisions are put in place to make sure households profit from falling wholesale prices, she said."

So no change then.

This is unlikely to impact consumer prices at all.

Wednesday, October 4, 2006 09:25AM Report Comment

5. sovietuk said...

How many many other gas quangos are there? We've got Uswitch, Ofgem, and probably a long list of other regulatory bodies in the gas industry. Better to get rid of most of them and scrap the VAT on fuel bills.

Wednesday, October 4, 2006 09:32AM Report Comment

6. Sam said...

thought it article makes it obvious, it's a blip, not a trend. They were testing the system, once the stock was full there wasn't anywhere to store the excess so prices nose dived. don't think that will be happening again in a while.

Once it's up and running we're gonna be buying it from them and competing with germany for it.

Wednesday, October 4, 2006 09:55AM Report Comment

7. Oracle said...

If consumers honestly think that they are going to benefit from this they really need their heads read.

The most likely outcome will benefit the power producers,who were making plans to fire up the coal stations,now this seems less viable.

Wednesday, October 4, 2006 06:30PM Report Comment

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