Electricity total rip off wake up people!!!

CJmasgrande

A few years back the cost of electricity shots up blaming high oil prices.

So now we have oil has almost halved in price so where is a reduction in electricity costs?

L1011

We're now subsidising horribly inefficient "green" generation and the required, very expensive, fast-start gas turbine backups for when its not windy so unfortunately prices aren't going to fall much.

visual

Ask Fat Rabbit where is the savings

Forcing through wind turbines and guaranteed higher price for each watt produced and offsetting the higher running cost back on to the consumer.

It was bad enough that we pay one of the highest rates for power in EUROPE now with green power it will be higher again.

Wait till fuel prices rise then the power bills will sky rocket

CJmasgrande

It's amazing the way we all kick up over the water rates yet they cost a drop in the ocean compared to what we are being fleeced for power and nobody says boo

rameire

I run my electricity through my gas and my gas through my electricity, and I save a fortune

mikeym

The energy regulator is a joke if the electric companies want to raise the prices the regulator says ok and now that oil prices are low theres no reduction in price.

Btw they came up with the old price structure for the water charges which were a rip off. I have no faith in the energy regulator.

braddun

buy wind turbine



http://www.ebay.co.uk/sch/i.html?_from=R40%7CR40&_sacat=0&LH_BIN=1&_nkw=windturbine&_sop=1

Quazzie

braddun wrote: »

buy wind turbine



http://www.ebay.co.uk/sch/i.html?_from=R40%7CR40&_sacat=0&LH_BIN=1&_nkw=windturbine&_sop=1

And do what with it? I thought you couldn't seel back to the grid anymore.

CJmasgrande

mikeym wrote: »

The energy regulator is a joke if the electric companies want to raise the prices the regulator says ok and now that oil prices are low theres no reduction in price.

That's my whole point!

Can I lobby or at least contact the energy regulator office?

Luke92

rameire wrote: »

I run my electricity through my gas and my gas through my electricity, and I save a fortune

Just recently watched that episode and that made me lol so much!

I reckon you save over 200 pounds a year!

the groutch

normally i don't respond to threads with such idiotic over-reactionary titles, but you should know that Electric Ireland have cut their standard rate by 2.47%.

CJmasgrande

the groutch wrote: »

normally i don't respond to threads with such idiotic over-reactionary titles, but you should know that Electric Ireland have cut their standard rate by 2.47%.

What about the 40% price drop in oil?

the groutch

what about it? do you think that oil is the only cost involved in electricity generation and supply?

L1011

the groutch wrote: »

normally i don't respond to threads with such idiotic over-reactionary titles, but you should know that Electric Ireland have cut their standard rate by 2.47%.

Solely to cancel the increase in the PSO levy (to fund the unprofitable generators - many of which are not wind but are only required due to wind).

IrishHomer

the groutch wrote: »

what about it? do you think that oil is the only cost involved in electricity generation and supply?

No but rising oil races was the excuse for it shooting up few years back

TallGlass

the groutch wrote: »

what about it? do you think that oil is the only cost involved in electricity generation and supply?

Well why do the companies come out and say it why the prices are rising so fast. You know why, cause there talking out there anal.

delahuntv

CJmasgrande wrote: »

A few years back the cost of electricity shots up blaming high oil prices.

So now we have oil has almost halved in price so where is a reduction in electricity costs?

CJmasgrande wrote: »

It's amazing the way we all kick up over the water rates yet they cost a drop in the ocean compared to what we are being fleeced for power and nobody says boo

CJmasgrande wrote: »

What about the 40% price drop in oil?

Wow - maybe if you did a little investigation into how electricity is generated and the cost breakdown, you may have a little different attitude.

Firstly, less than 15% of generation capacity is done by fuel oils.

Secondly, oil is priced in dollars, so whilst the oil price in dollars has dropped from $105 to $62 in the past 6 months, in euro terms it dropped from €76 to €50 - a 34% drop.

Thirdly, only the raw oil price has dropped. In fact refinery costs for diesel have gone up as they do every winter. (only a certain amount of raw oil is easily converted into different fuels - if demand is higher, then the fuel has to be "manufactured" which is costly).

A litre of diesel before any taxes or duties and bought on open commodity market has gone from 55c (euro) in June to just over 44c today. (all prices can be got from any energy index such as bloomberg)

So less than 15% of generator capacity has seen 20% reduction on its fuel costs. Which if there were no other costs, would lead to a 3% reduction.

However generation, whilst the main cost, is not the only cost.

the power network of power cables bringing the power to your home, the billing systems, the repair crews, the maintaining of the power plants, the staff in the power plants etc etc. These costs don't change.


Natural gas, which is the main fuel for electricity generation in Ireland has been relatively steady in price since last year with just the odd spike.

delahuntv

IrishHomer wrote: »

No but rising oil races was the excuse for it shooting up few years back

Rising FUEL prices was the reason - falling fuel prices was also the reason why prices dropped 12% in 2010.

FUEL = Coal, Gas, Oil.

Gas prices have been stable over the past year.


edit - here's the breakdown of national electricity generation (on the back of your bill)

Coal - 18.4%
Gas - 44.1%
Peat - 6.5%
Renewables - 30.2%
Other including OIL - 0.8%


So LESS than 1% is generated by oil - I think that kills this argument dead!

CJmasgrande

delahuntv wrote: »

Rising FUEL prices was the reason - falling fuel prices was also the reason why prices dropped 12% in 2010.

FUEL = Coal, Gas, Oil.

Gas prices have been stable over the past year.


edit - here's the breakdown of national electricity generation (on the back of your bill)

Coal - 18.4%
Gas - 44.1%
Peat - 6.5%
Renewables - 30.2%
Other including OIL - 0.8%


So LESS than 1% is generated by oil - I think that kills this argument dead!

If you do a quick google you will see that all old media news reports of electricity price hikes within the past decade were blamed on rising oil prices!

delahuntv

CJmasgrande wrote: »

If you do a quick google you will see that all old media news reports of electricity price hikes within the past decade were blamed on rising oil prices!

You believe everything written in newspapers???

Back in 2007/8 Natural Gas prices spiked to record levels in tandem with oil. So whilst the media said Oil Prices, the truth was FUEL prices.

Please use google and do as much research as you wish.

CJmasgrande

It wasn't just on newspapers, TV and radio media also

nompere

CJmasgrande wrote: »

It wasn't just on newspapers, TV and radio media also

It was over 100 years ago that Mark Twain said "Never let the facts get in the way of a good story", and journalists of all sorts have been happily agreeing with him ever since.

delahuntv

CJmasgrande wrote: »

It wasn't just on newspapers, TV and radio media also

OK - Lets put it very simply.

Do you believe everything in the MEDIA?

Jaysus - last week if you believed the crap in the indo we were going to have a polar vortex, 3 feet of snow, 12 inches of rain and the world was going to end.

Oil e.g. Diesel is used in older type power plants, primarily in Russia & China. Most "fuel" power plants use natural gas.


The media will use a generic word for reports - for them Oil is a catch all word for fuel. The media really show their utter stupidity when then=y suggest that a 40% reduction in the dollar price of raw oil should lead to a near 40% reduction in the pump - its like says newsprint drops by 40% therefore a newspaper should drop 40%.

THAT is how stupid many media people are! The problem is some people believe the media!:eek:

Geuze

CJmasgrande wrote: »

A few years back the cost of electricity shots up blaming high oil prices.

So now we have oil has almost halved in price so where is a reduction in electricity costs?

There aren't many oil-fired power stations left in Irl.

So oil prices don't have much impact on electricity prices.

mikeym

Labour Energy Minister call for an end to Surcharges on Pre Pay Electricity.

http://www.breakingnews.ie/ireland/white-calls-for-end-of-surcharging-on-pay-as-you-go-electricity-655543.html

The Energy Minister Alex White has said surcharging pay-as-you-go electricity customers is "not acceptable" and should be ended.
White was commenting after the Money Advice and Budgeting Service said the charge of between 2 and 5% was a "shameful rip-off of the most financially vulnerable consumers".
MABS added the charges have only begun appearing in the past year and only half of the shops which add on the energy bills display signs warning bill-payers.

I know theres a difference between Pre Pay Electricity and Bill Pay but those on low incomes were aggressively targeted by smart ad campaigns and sales people calling to the door offering Pre Pay Electricity without the bill.

brian_gall85

The minister should start by trying to get some legislation together that stops the providers reducing the retailers margin to a minus figure....BEFORE the cost of running and maintaining the machines involved is taken into consideration.

braddun

cfl or led lamps


buy plug strips turn off plugs at night

INPUT INNPUT

delahuntv wrote: »

Natural gas, which is the main fuel for electricity generation in Ireland has been relatively steady in price since last year with just the odd spike.

Vayu (supplier of 20% of Irelands Gas) report out the other day had prices down 42% during the summer and 22% now.

Summary of the report here.

irishtimes.com/business/energy-and-resources/wholesale-natural-gas-prices-fall-27-in-2014-1.2050523

Either the report is bullsh1t or every post in this thread is.

Meanwhile, wholesale electricity prices in the Irish market were 14 per cent lower on average in 2014 than they were the previous year. Electricity generated from oil and gas plants is expected to become cheaper to produce in 2014 and could feed through to wholesale electricity prices.

Hmm, Have they? I'm in a 12 month contract so haven't been following.

delahuntv

http://www.infomine.com/investment/metal-prices/natural-gas/1-year/

yep, most second rate journalists write bs without checking ALL pertinent facts.

Price averaged about $3.80 -$4.50 most of the year. It did drop suddenly 3 weeks ago and that is great.

problem is journalists will take a short 2 days spike (mid feb to over $6) and compare it to the lowest price of the year. Then on top of that they never ever take into account exchange rate movement.

They then write an article and people belive the bs cos people generally never check for themselves.

except for the very recent drop, and the very short term spike, price in euro has been quite steady until early dec.

CJmasgrande

Why aren’t our electricity and gas bills coming down?
http://jrnl.ie/1879552

delahuntv

CJmasgrande wrote: »

Why aren’t our electricity and gas bills coming down?
http://jrnl.ie/1879552

again, you are believeing a second rate journalist who has doen ZERO and I meanZERO research and just wrote a hyeterical piece of sh1te becasue its the fashion.

Gas prices started to fall in December - total price fall to date for UK gas is 16% - yes 16%.

less than 0.75% of electricity is generated by oil in Ireland - that's almost ZERO ! ARe journalist soooo stupid as not to do such basic reasearch as to read their own bills! - yes, its printed there for even you to see.

A 16% reduction in Gas, assuming it stays down, should lead to a price reduction of 2%-4% at some stage