#energythread on UK Gas Prices
In this 🧵, we’ll explore what's impacting UK's gas prices, shedding light on the current market scenario, potential projections, and why despite significant decreases in wholesale costs, we still could be in the middle of the storm.
#EnergyCrisis
@mwt0604@UberEats Crazy that you get a response on here though, rather than in-app functionality or phoning!
Unless it’s a bot of course.
Good luck, nothing worst than messing with somebodies take out!
@guardianeco UK Energy Security @grahamstuart ?
We have 4 days gas storage capacity.
We cannot refine most Oil extracted from North Sea.
Both fuels are largely exported by private firms Gov cannot control or tax properly.
Consumer energy pricing is dictated by global market.
@shoshmck@g__j@Adam_Grant_Bell They did and still include the cost of failed suppliers via SoLR rebates however, it is a very small amount.
The main rise in SC’s is through non-energy costs impacted by inflation…
@shoshmck@g__j@Adam_Grant_Bell Much of standing charges are built up of ‘non-energy’ third party costs. Such as maintaining the network, upgrades, infrastructure changes etc…
Most of non-energy costs are linked to retail and consumer indexes, all of which impacted by the rate of inflation.
@MartinSLewis@CornwallInsight Despite wholesale costs not far from pre-energy crisis levels, which is well reported by MSM.
This will not translate directly to the costs consumers pay. Eg; increase in network costs which make up a large % of total bill & SC increases + inflation.
The list goes on.
Today marks the 83rd anniversary of the Coventry Blitz.
We remember all those who were killed and injured on this night in 1940 and all those who were affected.