Energy prices

[StillSpike]

Publicly owned energy provider

https://www.bbc.co.uk/news/uk-england-n ... e-54015033

Yep - the system's not working in this false market.

[Rich Tea Wellin]

So what’s the actual reason for the gas price surge? Who’s gaining from it maybe a more relevant question.

[Currywurst and Chips]

So what’s the actual reason for the gas price surge? Who’s gaining from it maybe a more relevant question.

Sets out the reasons

https://www.reuters.com/business/energy ... 021-09-15/

[Long slender neck]

Remember reading ages ago about a disputed Russia Germany pipeline.

[StillSpike]

Remember reading ages ago about a disputed Russia Germany pipeline.

Yeah - the Ruskies were effectively holding the Germans to ransom for a bit - was it over some dispute re Ukraine or something or a more bilateral issue? Was several years ago now. Makes even more sense for countries to pivot towards non-fossil fuel sources as soon as possible (as a matter of policy/central direction - rather than letting "the market" do it's thing and hoping that'll be right).

[Ronnie Hotdogs]

So what’s the actual reason for the gas price surge? Who’s gaining from it maybe a more relevant question.

Sets out the reasons

https://www.reuters.com/business/energy ... 021-09-15/

They left off Dividends and Directors Emoluments from the nice pie chart of What Makes Up A UK Fuel Bill.

[Dunners]

Rumours that Igloo is about to go bust.

[Rich Tea Wellin]

Rumours that Igloo is about to go bust.

Liquify?

[Ronnie Hotdogs]

Rumours that Igloo is about to go bust.

Liquify?

Financial meltdown.

[Smendrick Feaselberg]

Green and Avro now ceased trading.

Hoping Bulb survive. They are putting their prices up from 1 October and can't change them for 6 months. Makes them cheaper than any other switch I've seen.

[Ronnie Hotdogs]

Don’t these guys lock in their prices?

[Harlow]

I am with Avro, in the 18mths to 30 June 2019 on sales of energy of £389million they only made £282,000 gross profit. Net loss was £27million. All this with a share capital of £100.

Guess the Directors will have a bit of explaining to do.

My contract finishes next month, think I will be owed around £30

[Long slender neck]

Was with them too, but only for a few months. Sounds like a scam.

[Top of the JES]

Yep another Avro customer - sad to see them go they really were hassle free and easy to deal with. Got a credit balance of £270 but protected by OFGEN so just wait and see who we will get. I suspect by spring we will have no more than a dozen companies in the sector. Only seems 5 minutes since the government were encouraging the smaller suppliers to cut prices and take on the big boys, that went well.

[Max B Gold]

Don’t these guys lock in their prices?

No that was the problem. They didn't hedge or indulge in forward contracts etc. Morons.

[Ronnie Hotdogs]

I am with Avro, in the 18mths to 30 June 2019 on sales of energy of £389million they only made £282,000 gross profit. Net loss was £27million. All this with a share capital of £100.

Guess the Directors will have a bit of explaining to do.

My contract finishes next month, think I will be owed around £30

Do they do the same thing as the big boys and siphon all their profits off to foreign holding companies based in lower tax jurisdictions via interest charges and what not?

[Max B Gold]

I am with Avro, in the 18mths to 30 June 2019 on sales of energy of £389million they only made £282,000 gross profit. Net loss was £27million. All this with a share capital of £100.

Guess the Directors will have a bit of explaining to do.

My contract finishes next month, think I will be owed around £30

Do they do the same thing as the big boys and siphon all their profits off to foreign holding companies based in lower tax jurisdictions via interest charges and what not?

Thin cap rules, if applied, would prevent the interest trick.

[Ronnie Hotdogs]

They sound like a bunch of absolute amateurs.

[Harlow]

I am with Avro, in the 18mths to 30 June 2019 on sales of energy of £389million they only made £282,000 gross profit. Net loss was £27million. All this with a share capital of £100.

Guess the Directors will have a bit of explaining to do.

My contract finishes next month, think I will be owed around £30

Do they do the same thing as the big boys and siphon all their profits off to foreign holding companies based in lower tax jurisdictions via interest charges and what not?

The directors are also directors of a marketing company. I would be unsurprised if the mktg co main client was Avro and was used to generate an "independent" income for them.

The energy suppliers must have taken a big hit, don't know if this will be the generators or people like the Russians. I of course was happy with having the very best deal ( a previous best deal, Iresa, also went bust)

[Harlow]

They sound like a bunch of absolute amateurs.

Or clever bastards who have put nothing in but have used the energy business to make some money

[RedDwarf 1881]

So what’s the actual reason for the gas price surge? Who’s gaining from it maybe a more relevant question.

I thought it was because Putin had turned the gas taps down . It''s in response to sanctions .

[Dunners]

[Long slender neck]

Dale Vince on bbc news, comes across quite well

uk has 1% of europes gas storage capacity, 10% population
russia turned down supply by 25%
nuclear plants failed to come out of maintenance this year
he will be making gas from grass

[Dunners]

FFS. Fuel shortages now.

[Rich Tea Wellin]

But the Tory minister said there wouldn’t be any fuel shortages!?