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  1. #351
    Grenville Morris
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    Default Re: The Big Finance, Money and Economics thread

    Holy shit why does it sound like there’s 20 million different energy company’s god damn.


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  3. #352
    Grenville Morris
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    Default The Big Finance, Money and Economics thread

    Quote Originally Posted by Strummer View Post
    British Gas, EDF Energy, E.ON UK, Npower, Scottish Power, and SSE.

    And to be honest, it seems at the moment if you’re with a small supplier and they fold, you’ll end up „lifeboated“ to one of the (so-called) „Big Six“ anyway.

    Those privatisations really worked out for consumers, didn’t they!
    Neo-liberalism is lovely isn’t it .

    Reagan’s legacy is like a fucking weed with a ton of roots sprouting from Chile to England then to the Philippines.


  4. #353
    LTLF Legend
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    Default Re: The Big Finance, Money and Economics thread

    Quote Originally Posted by Dogtits View Post
    Neo-liberalism is lovely isn’t it .

    Reagan’s legacy is like a fucking weed with a ton of roots sprouting from Chile to England then to the Philippines.
    Well, exactly.

    And the only ones who „win“ are the bankers and financiers who promote and support this sort of casino speculation and gambling and (of course) take their cut before the shit hits the fan.

    „I believe in socialism because it seems more humanitarian, rather than every man for himself and 'I'm alright jack' and all those arsehole businessmen with all the loot. I made up my mind from viewing society from that angle. That's where I'm from and there's where I've made my decisions from. That's why I believe in socialism“

    „Don't forget you're alive. 'Cause sometimes when you walk around the city and you're in a bad mood, you can think, hey, wait a minute, we're alive! We don't know what the next second will bring and what a fantastic thing this is. This can get easily forgotten in the routine of life, and that's something I'm trying to bring to my attention at all times. Don't forget you're alive. We're not dead, you know. This is the greatest thing.”

    — Joe Strummer

  5. #354
    Grenville Morris
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    Default Re: The Big Finance, Money and Economics thread

    Quote Originally Posted by Dogtits View Post
    Holy shit why does it sound like there’s 20 million different energy company’s god damn.
    There's hundreds.

    The smaller energy "suppliers" are essentially just accounting firms. They:

    1) Buy the rights to an amount of energy on behalf of their customers, from the actual producers of energy.
    2) Cross-charge their customers (ie, you and me) for this.

    That's it.

    The likes of Avro, Green, HUB, Bulb etc can make a profit simply by having a decent credit line (to purchase the energy rights up front, before they bill us in arrears) and getting their pricing model right (ie, energy prices for them are volatile but they sell onto us as a fixed rate).

    And that's why they're going bust, because their costs are currently more than their revenue and they've got no means of extending their credit facility to weather the storm because it's already fully utilised.

    The big six will survive because:
    1) They can extend their credit lines, because of their size.
    2) They will get government support if it really needs it.
    3) I think a few of them are vertically integrated (which means they also produce some of the energy, not just retail it - so the commodity cost increases impact them less).

    30/09/2021: It's only 8 points to the play-offs. Doesn't matter if we're 20th having lost three times as many games as we've won so far. I fancy us now that Hughton's gone.

  6. #355
    Grenville Morris
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    Default Re: The Big Finance, Money and Economics thread

    Quote Originally Posted by Strummer View Post

    And the only ones who „win“ are the bankers and financiers
    I own a slice of Evraz and it's up 65% for me, not including dividends, which have been rather large.




  7. #356

    Default Re: The Big Finance, Money and Economics thread

    Quote Originally Posted by Project Zeus View Post
    I had a deal with Avro as well.

    Can we have just one year without an economic crisis?

    Sent from my SM-G960F using Tapatalk
    Likewise.

    Compared all the deals a couple of weeks ago and Avro was within a pound of the cheapest other providers, so I stuck with them for another year.

    Or so I thought.

    Last edited by Professor Wolfgang Schnell BSc. PhD.; 23-09-21 at 12:02.

  8. #357
    Warp Speed Chic
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    Default Re: The Big Finance, Money and Economics thread

    Quote Originally Posted by MaxiRobriguez View Post
    I own a slice of Evraz and it's up 65% for me, not including dividends, which have been rather large.

    Gatsby was actually an illegal bootlegger, after serving in WW1

    (I know that wasn't the point you were making, but it's one of my favourite books)


  9. #358
    Nigel Clough
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    Default Re: The Big Finance, Money and Economics thread

    I’ve ended up with British Gas after People’s Energy went pop. I’ve never even made it to a BG quote when comparing deals in the past, so christ knows how much they’ll be charging me.

    Will be switching asap but still expect to get bummed.

    What are people’s thoughts on variable/fixed? I got a fixed for 12 months before because the deal was good and we were warned prices would rise, but now prices are so high I’m not sure.

    Might just stick with a fixed for a year to have some budget certainty, but avoiding two years.


    Sent from my iPhone using Tapatalk


  10. #359
    Grenville Morris
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    Default Re: The Big Finance, Money and Economics thread

    Quote Originally Posted by RealRed85 View Post
    What are people’s thoughts on variable/fixed? I got a fixed for 12 months before because the deal was good and we were warned prices would rise, but now prices are so high I’m not sure.
    Answered a couple of pages back.

    Variable rates will rise next week, and almost certainly again in April. Every single supplier is going to set their variable tariff at the price cap because even at the price cap they will be making losses based on current wholesale energy prices.

    And that is filtering into fixed rate tariffs too. The cheapest one I saw a couple of weeks ago was £400 more expensive per year than the current variable rate, and as fixed rates are usually two years the suppliers are basically saying they expect variable rates over the next two years to accumulate £800 of extra cost.

    I'm on a variable rate at the moment and I'm going to chance it. I'd rather take my chance that energy prices come down a little bit (probably with government intervention) rather than lock in £800 uplifts.


  11. #360
    13th Duke of Wybourne
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    Default Re: The Big Finance, Money and Economics thread

    I still don't understand how anyone thinks privatising the utilities, rail, etc. etc. still works well.
    All it's ever done is drive down performance to increase profit. We all suffer, whether that's high bills, lack of service or crammed onto trains just so a few, like Robbie (the rotten, capitalist pig) can get even more money.

    "Ive only met Andy....last week actually and can confirm he is in 2nd place in sexiest fucker on here stakes." -Barry

  12. #361
    Grenville Morris
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    Default Re: The Big Finance, Money and Economics thread

    Quote Originally Posted by OK SpidermAndy! View Post
    I still don't understand how anyone thinks privatising the utilities, rail, etc. etc. still works well.
    All it's ever done is drive down performance to increase profit. We all suffer, whether that's high bills, lack of service or crammed onto trains just so a few, like Robbie (the rotten, capitalist pig) can get even more money.
    I agree.

    Anything that's a public good requirement or a natural monopoly, like energy, water, transport, education or health should be in the public's hands.

    Companies like SSE, Severn Trent Water and First Group don't innovate, they don't disrupt markets, don't drive down costs. They provide exactly the same service that a nationalised one would do. The only difference is they pay their shareholders 5% of the profits made, whereas a nationalised service would plough it back into the economy and/or use the money saved on dividend payments to pay their staff better.

    Sorry to anyone that works at those companies.


  13. #362
    Grenville Morris
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    Default Re: The Big Finance, Money and Economics thread

    30m ago
    14:13
    Reuters reporting that interest rate futures pricing in a 90% chance that the BoE will raise rates by February 2022 (up from just over 60% before)


  14. #363
    LTLF Legend
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    Default Re: The Big Finance, Money and Economics thread

    Quote Originally Posted by MaxiRobriguez View Post
    I agree.

    Anything that's a public good requirement or a natural monopoly, like energy, water, transport, education or health should be in the public's hands.

    Companies like SSE, Severn Trent Water and First Group don't innovate, they don't disrupt markets, don't drive down costs. They provide exactly the same service that a nationalised one would do. The only difference is they pay their shareholders 5% of the profits made, whereas a nationalised service would plough it back into the economy and/or use the money saved on dividend payments to pay their staff better.

    Sorry to anyone that works at those companies.
    Also; have you noticed that there are always companies in the energy market who want to control those exploitable natural resources - like coal, like oil, like water - so that they can exploit the market and raise profits, but where there’s a natural resource they cannot control - like the sun, for example - all of a sudden, wide-scale adoption of solar power generation is „uneconomic“?


  15. #364
    Grenville Morris
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    Default Re: The Big Finance, Money and Economics thread

    Interesting twitter thread on Avro energy: https://twitter.com/thetimes/status/1441304957798346756


  16. #365
    13th Duke of Wybourne
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    Default Re: The Big Finance, Money and Economics thread

    Privatisation at its best.


  17. #366
    Grenville Morris
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    Default Re: The Big Finance, Money and Economics thread

    For whoever on here said they were on Avro (sorry, can't remember who) looks like you're being moved to Octopus energy, and you're being put on the variable tariff.

    No surprise that new suppliers are putting migrated customers onto variable tariffs - but for anyone being moved who was on a fixed rate deal it'll be a nasty shock as bills will be up 30-40% in most cases.

    Last edited by MaxiRobriguez; 28-09-21 at 10:50.

  18. #367

    Default Re: The Big Finance, Money and Economics thread

    I have just received an "Advance Notice of Direct Debit Collection" from Avro that will be taken next week. It is for more than my normal monthly DD amount.

    And when I checked my account last week I was actually in credit.

    So ... do I pay it or cancel the DD ?


  19. #368
    Grenville Morris
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    Default Re: The Big Finance, Money and Economics thread

    Quote Originally Posted by Professor Wolfgang Schnell BSc. PhD. View Post
    I have just received an "Advance Notice of Direct Debit Collection" from Avro that will be taken next week. It is for more than my normal monthly DD amount.

    And when I checked my account last week I was actually in credit.

    So ... do I pay it or cancel the DD ?
    You don't need to cancel your direct debit.

    The reason you're in credit is because payments are 'smoothed' over the year so you pay roughly the same every 12 months, despite actual usage being significantly higher in the winter months than the summer months. Tend to find "in credit" at its highest around September time and then around April time that in credit should be spent down to about zero (as although you still pay, the actual £ usage is more than your direct debit over winter months).


  20. #369

    Default Re: The Big Finance, Money and Economics thread

    I was more wondering whether I should pay them anything as they've gone bust ....


  21. #370
    Grenville Morris
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    Default Re: The Big Finance, Money and Economics thread

    Quote Originally Posted by Professor Wolfgang Schnell BSc. PhD. View Post
    I was more wondering whether I should pay them anything as they've gone bust ....
    If you think you'll be able to save £60 or whatever the answer is no.

    Your new supplier will bill you for it if you've a non-payment.


  22. #371
    Nigel Clough
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    Default Re: The Big Finance, Money and Economics thread

    I’m in the same boat. Ofgem say you can cancel your direct debit, but you don’t have to. Octopus are asking people not to cancel it


  23. #372

    Default Re: The Big Finance, Money and Economics thread

    Quote Originally Posted by Alvar Hanso View Post
    I’m in the same boat. Ofgem say you can cancel your direct debit, but you don’t have to. Octopus are asking people not to cancel it
    Cheers.


  24. #373
    Grenville Morris
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    Default Re: The Big Finance, Money and Economics thread

    Green Energy customers are getting shifted to Shell Energy. Don't think anyone on here has mentioned being a Green Energy customer but if you have...


  25. #374
    Viv Anderson
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    Default Re: The Big Finance, Money and Economics thread

    We were with Green Energy. Funnily enough we were well down the road of switching to e.on when Green went pop.
    We decided to switch when they emailed us to say they putting our DD up to 1600 per month!!!

    E.on have already taken us on but my Mrs said last night she'd had a message saying we were being moved to Shell. Er no we're not!


  26. #375
    Grenville Morris
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    Default Re: The Big Finance, Money and Economics thread

    Quote Originally Posted by Barbus View Post
    to say they putting our DD up to 1600 per month!!!
    There's price hikes and there's price hikes!


 

 

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