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(not satire)
Here’s a graph which clearly shows that since 2008 wholesale energy costs have actually gone down while typical household bills have gone up by as much as 80%:
So it’s wrong to say our electricity and gas bills keep going up because of rising wholesale costs.
In fact not so much wrong as a downright lie.
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Related articles by Tom Pride:
Oh dear – look what Ed Davey was saying about nuclear power before he became a minister
Lib Dems and Tories have just agreed higher UK electricity bills for the next 35 years
Coalition split after Tory minister says UK ‘peppered’ with too many wind-powered Lib Dem MPs
Controversial urine extraction method given go-ahead by government
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Please feel free to comment – you don’t need to register and I’m extremely minimal with the moderating.
Pride's Purge 
we have been sold to communist china.
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Reblogged this on nearlydead.
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and funnily enough ukip and the daily mail dont seem to care,
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Reblogged this on The Thoughts of a Ginge.
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If this is true why haven’t the TV news stations and papers reported it?
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Because the figures usually include tax with the wholesale energy prices – which follow the changes in price of household bills more closely.
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We know full well where all the money is going don’t we? The executive in charge of these energy companies walk away with thousands in bonuses and the taxman gets the rest
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no usually the taxman dosent they stick it ofshore.
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your graph on energy costs is wrong.
Source: Household energy bills – impacts of meeting carbon budgets Committee o n Climate Change, December 2011
Estimated contributory factors to domestic energy price rises Feb 2004 to Jan 2011
Gas Electricity
Overall price increase 121% 79%
% of increase in unit costs due to:
Wholesale energy 66% 54%
Tranmission, distribution and metering 20% 13%
Carbon price – 9%
Renewables – 6%
Energy efficiency funding 7% 13%
VAT 5% 5%
Estimated increase in annual bill (2004 to 2010) £295 £160
This also shows that wholesale costs were the main driver of price rises; however
of policy-related costs pressures is estimated to have been responsible for 7% of the gas price rise and 28% of the electricity price rise during this period.
Tom not the same time period as your graph. This is from a parliamentary briefing paper which can be found using google.
So its not a conspiracy costs have gone up.
As is often the case Tom your research is done to back up your preconceived ideas with little attention to facts, must be satire.
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so how come there much lower in the usa then.
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how come its cheaper in France clive if what you were saying was true clive it wouldn’t be.
how come our bills are rising faster than the rest of eroupe if what you were saying was true there prices would be rising just as fast.
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Clive – you’d better have a word with fullfact.org if you don’t agree with my figures. The graph is taken from them.
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why havent you post your the link here clive is it because you made it up on the spot.
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Reblogged this on HUMAN RIGHTS & THE SIEGE OF BRITAIN POLITICAL JOURNAL.
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Reblogged this on Vox Political and commented:
Tom Pride, in serious mode, counters the myth that rising wholesale energy costs are the reason our bills keep going up. His facts are supported by evidence.
So what possible reasons are left?
Greed, maybe?
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the Reason that Energy Companies have put prices up?
Because they can!
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Actually Clive, infomine shows that natural gas prices have decreased
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http://www.infomine.com/ChartsAndData/GraphEngine.ashx?z=f&gf=110558.USD.mmbtu&dr=5y
sorry had trouble posting the link
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Pingback: This graph shows wholesale energy costs are not...
ive got a big winky.
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can i suck it.
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yes all right then will.
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Which part of the condem do you work for Clive?
Disinformation maybe?
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because they are a success nuggy and this country needs them.
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Just like I said in an earlier post, gas prices decreasing. Even if oil and gas prices increased from one supplier, those that buy and provide to us should shop around for a better deal like they are telling consumers to do.
Where does that leave David Cameron who is repeating the rubbish on pmq’s and passed to him by these privatized industries.
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Rising wholesale costs as a reason for the increase in domestic fuel prices are a complete load of cobblers and the biggest myth that is believed by a very large part of the population.
Energy companies rarely pay “todays” wholesale price for energy for “delivery” today. Today’s delivered energy would have been bought 1, 2, 5 or even 10 years ago, on the futures market, at a time/instant when the wholesale costs were much lower. Any energy “bought” today, at today’s wholesale prices, will be delivered in 1, 2, 5 or even 10 years, by which time the energy companies will have inflated prices at a compounded average rate of 8%, so they will have built in a mark up in excess of 50%.
Gas can be bought when cheap and stored until needed. For electricity it is a slightly different story – the national grid is such that what goes in must come out, thus preventing either blowouts/power cuts, depending on whether too much/not enough power has been fed into the grid. To prevent blowouts power is “drained/earthed” if there is a surplus, and to prevent power cuts power is drawn from the “instant” sources on a “today” price. As the today price is on demand then there is a premium cost for this. However, using historic usage data energy companies can usually predict about 95% of demand for any given half hour period, can buy in advance for delivery, and therefore minimise emergency buying.
To put it another way: this week British Gas announced price rises in excess of 8.1%, mainly due to rises in the wholesale costs of energy. Meanwhile, the AA cited falling wholesale costs of energy as the main reason for the price of petrol at the pump falling over the last year. As the major source of oil/gas for electricity/gas/petrol is drilled oil then somewhere in these arguments is a truth and a lie. Considering that BG and AA are both part of Centrica it is clear that they are playing two hands at once and confusing the public … which results in us meekly accepting the price rises because “they must be telling the truth.”
BG/Centrica aren’t alone in perpetuating this myth … but with the report from the AA they become a very easy and legitimate target …
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There was a small independent energy retailer on BBC TV last week saying that he was cheaper than the ” Big 6 ” because he bought the energy wholesale and passed the savings it onto the customer. He did also mention that he had no overheads and wasn’t expected to plough profit back in to create infrastructure like power stations, but then wouldn’t there be some government or EU subsidies to assist with that?
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@Guy Fawkes. These energy firms constantly bleat on about how wholesale gas prices have increased…well that’s a downright lie! They’re almost as bad as the Tories who keep blaming Labour for…everything! Bunch of tos**rs the lot of ’em
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It’s all baloney anyway, if you look at Centrica’s (British Gas’s parent company) website they proudly boast
energy
we source it
we generate it
we process it
we store it
we trade it
we save it
we supply it
we service it
So the wholsale price is almost irrelevant. Sure, British Gas buy gas on the wholesale market, but it’s being sold by Centrica. As fast as British Gas are making less money because the price is going up then another part of the company is making more for exactly the same reason.
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Reblogged this on Dnmufc's Blog.
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Pingback: Energy companies eurobond tax-dodge scam | Keithpp's Blog
The prices used to justify the price hikes, are usually the spot price.
They would not be buying on the open market, other than for unexpected shortfalls, they would have long term deals in place..
For the latest price hike, they have not blamed the wholesale market, instead those pesky green taxes.
No mention of the eurobond tax-dodge scam they are all running.
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Reblogged this on truelabour.
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