Under Red Ed’s stewardship, DESNZ & Ofgem will turbo charge the net zero fantasy project - so many incompetent people in charge of energy is a recipe for disaster - this useless Labour Govt won’t get a second term (if they even last the one), but it’s the costly, irreversible damage they’ll do in 5 years of power that is concerning - imagine going to hospital for a triple bypass and as I’m being wheeled to the operating table, I find out my surgeon is a registered plumber - that’s where UK energy is now with its energy - we will both die on the table unless someone says NO
This is the absolute confirmation of the cost of renewables.
By way of warning; I think it was originally written in Sanskrit and has benn translated in to English via Ugro-Finnish (a language least susceptible to large language models).
If it's of any help or interest, the wholesale price of gas and an array of other commodities can be viewed here, as they are traded: https://tradingeconomics.com/commodities
UK gas is up 8.2% on the year, US gas down 34.35% (but their egg price is up 206%), lithium's down 66% interestingly, and cocoa's up 186%, so stay off chocolate and warmth.
Am I correct in saying that although near term wholesale prices of electricity are dominated by gas markets, the underlying long term price of electricity has floated up and up due to the obsession with adding ever more renewables to the grid? We have the highest domestic and industrial electricity prices in Europe (maybe even the Western world) at the moment and most of this long term increase is due to the mad pursuit of 'clean' electricity from wind, solar and other so called 'renewable' sources of energy. So this short term volatility in prices consists of the ups and downs of the gas market superimposed upon the underlying and far more substantial long term increase in electricity prices due to Net Zero.
Producing our own gas in quantity would not necessarily affect the volatile gas market price (UK would have to buy gas at the international market price, even from domestic suppliers), but, crucially, it would make our energy supply a lot more secure and, if we were to store gas as any sensible developed nation should do, we could ensure a buffer against gas price spikes for weeks or months. Instead, our government is intent upon destroying our capacity to exploit our own natural gas reserves, forcing us to rely upon imports and thus making us vulnerable to spot gas prices. Then when this happens, and electricity prices shoot up because of world events, Milibean and the Weird Stalin government use this as the excuse to build more unreliables and thus increase the long term price of electricity whilst reducing further our energy security.
So-called renewables like weather-dependent wind and solar are not only short lifespan and toxically non-recyclable, they are expensive to build and integrate, heavily resource-depleting, inefficient and unreliable. The tragedy is that there is no need whatsoever to attempt to reduce CO2 emissions because atmospheric CO2 is already “saturated”, which means even a doubling of its concentration from the present level will cause negligible global warming. The only reason they push ahead with these totally inappropriate technologies is because the ulterior purpose of their climate change hoax is to wreck the economy, deindustrialise, create deliberate food shortages and limit the population.
We’re heading for a couple of decades of misery unless the people wake up to the Net Zero scam. We may never recover from it. Exactly what the Globalist infiltrated Government shills want.
Well at least the extra demand for woolly jumpers is good news for sheep farmers unless of course the rewilding lunatics haven't driven them off their land.
Miliband claims that the energy price cap rise is because we are “at the mercy of international markets controlled by dictators.” His rhetoric on dictators could be taken to include Biden who destroyed the Nord Stream pipeline (Biden himself warned “there will no longer be a Nord Stream 2”) and now sells us his much more expensive LNG!
In my opinion Miliband is a professional liar, a puppet engaged in a war against democracy and even humanity at the behest of his globalist overlords. John Leake on Courageous Discourse recently posted on the blizzard of lies we are subjected to these days using the specific issue of the Nord Stream sabotage as an example: https://petermcculloughmd.substack.com/p/people-of-the-lie.
We are at the mercy of rigged markets controlled by dictator Miliband.
He just upped the AR6 budget to £2.2bn p.a. and set the parameters for the next Capacity Market auction. He cancelled any new North Sea licences. He has rigged planning for solar and wind. He will soon have the opportunity to introduce fresh market rigging via REMA. I'm sure thee are other ideas in the works too.
They really are pathetic, the lot of them. None of them seem to have a clue about energy, technically or commercially. I'll bet there's not one power systems engineer amongst them. Guido Fawkes listed the 'special advisors' to Milibrain this week, complete zealots, eco-warriors and ideologues, the lot of them. No backgrounds whatsoever in energy or industry.
David, did you once provide an explanation as to why the wholesale cost of electricity is set by the cost of gas? I recall it was something on the lines of gas being the cheapest form of generating dispatchable electricity so that was the the base level that any bid to provide power would enter even if the cost was less when for instance there was lot of sun or wind?
If it was can you post a link as I cannot find it and wished to refresh my understanding.
Not quite. Near term wholesale prices are set by the source with the most expensive marginal costs. Typically, this is gas. However, renewables "game" the system because their actual costs are much higher and met by subsidies. I covered it here:
Milibrain is totally misleading people that renewables will save us any money and surely his officials are telling him this. He should be honest and tell people that Net Zero is going to cost you more because we have to save the planet. At least then there could be a rational debate about the best way of doing that at least cost to consumers. His current approach is going to cost us a lot more and will certainly not be providing green jobs. The sensible thing to do is halt any further unreliable being added to the grid until the grid can absorb the power.
David, If intermittent renewable generation is not combined with sufficient storage to make it dispatchable, it must be backed up by sources of generation which are dispatchable so that grid demand can be met. If there is sufficient dispatchable capacity to meet grid demand in the absence of renewable generator output, the intermittent generation is redundant. Redundancy is expensive, but so is electricity storage. The space "between a rock and a hard place" is getting smaller.
We also have a weird fixation in generation. Personally, I'm looking forward to 2031 when all the EVs head to Cornwall for their summer holidays and won't get back because their is no transmission to power EVs. (I decided not to change the weird syntax above as both people and cars would be on holiday)
FWIW my Company's greatest asset is a guaranteed 6.5mVa connection. If it was tradable it would be worth multiples of our market cap
For the moment yes. Although it's going to start getting more perilous as Ratcliffe coal plant closes later this year. Then the remaining nukes roll off over the next few years and some of the gas plants get to the end of their useful lives. There's no way we can deploy the amount of storage required, even if it was affordable.
That's why they're ramping up "Demand Side Response" - essentially paying big businesses to turn off.
Sufficient storage is unachievable but there is certainly some advantage to more pumped storage of which there are several viable schemes which they should just get on and build now before putting up anymore windmills of carpeting over fields with solar panels.
Under Red Ed’s stewardship, DESNZ & Ofgem will turbo charge the net zero fantasy project - so many incompetent people in charge of energy is a recipe for disaster - this useless Labour Govt won’t get a second term (if they even last the one), but it’s the costly, irreversible damage they’ll do in 5 years of power that is concerning - imagine going to hospital for a triple bypass and as I’m being wheeled to the operating table, I find out my surgeon is a registered plumber - that’s where UK energy is now with its energy - we will both die on the table unless someone says NO
https://www.gov.uk/government/publications/renewables-obligation-and-small-scale-feed-in-tariffs-apply-for-compensation
This is the absolute confirmation of the cost of renewables.
By way of warning; I think it was originally written in Sanskrit and has benn translated in to English via Ugro-Finnish (a language least susceptible to large language models).
David i see that OFGEM supress the wholesale cost data from the vast s/sht you referenced above citing its proprietary information from ICIS.
You can get pretty close by looking at futures prices on ICE.
This time, they are pretty close
If it's of any help or interest, the wholesale price of gas and an array of other commodities can be viewed here, as they are traded: https://tradingeconomics.com/commodities
UK gas is up 8.2% on the year, US gas down 34.35% (but their egg price is up 206%), lithium's down 66% interestingly, and cocoa's up 186%, so stay off chocolate and warmth.
Am I correct in saying that although near term wholesale prices of electricity are dominated by gas markets, the underlying long term price of electricity has floated up and up due to the obsession with adding ever more renewables to the grid? We have the highest domestic and industrial electricity prices in Europe (maybe even the Western world) at the moment and most of this long term increase is due to the mad pursuit of 'clean' electricity from wind, solar and other so called 'renewable' sources of energy. So this short term volatility in prices consists of the ups and downs of the gas market superimposed upon the underlying and far more substantial long term increase in electricity prices due to Net Zero.
Producing our own gas in quantity would not necessarily affect the volatile gas market price (UK would have to buy gas at the international market price, even from domestic suppliers), but, crucially, it would make our energy supply a lot more secure and, if we were to store gas as any sensible developed nation should do, we could ensure a buffer against gas price spikes for weeks or months. Instead, our government is intent upon destroying our capacity to exploit our own natural gas reserves, forcing us to rely upon imports and thus making us vulnerable to spot gas prices. Then when this happens, and electricity prices shoot up because of world events, Milibean and the Weird Stalin government use this as the excuse to build more unreliables and thus increase the long term price of electricity whilst reducing further our energy security.
So-called renewables like weather-dependent wind and solar are not only short lifespan and toxically non-recyclable, they are expensive to build and integrate, heavily resource-depleting, inefficient and unreliable. The tragedy is that there is no need whatsoever to attempt to reduce CO2 emissions because atmospheric CO2 is already “saturated”, which means even a doubling of its concentration from the present level will cause negligible global warming. The only reason they push ahead with these totally inappropriate technologies is because the ulterior purpose of their climate change hoax is to wreck the economy, deindustrialise, create deliberate food shortages and limit the population.
We’re heading for a couple of decades of misery unless the people wake up to the Net Zero scam. We may never recover from it. Exactly what the Globalist infiltrated Government shills want.
Accurate and clear as ever. Thank you
Well at least the extra demand for woolly jumpers is good news for sheep farmers unless of course the rewilding lunatics haven't driven them off their land.
Miliband claims that the energy price cap rise is because we are “at the mercy of international markets controlled by dictators.” His rhetoric on dictators could be taken to include Biden who destroyed the Nord Stream pipeline (Biden himself warned “there will no longer be a Nord Stream 2”) and now sells us his much more expensive LNG!
In my opinion Miliband is a professional liar, a puppet engaged in a war against democracy and even humanity at the behest of his globalist overlords. John Leake on Courageous Discourse recently posted on the blizzard of lies we are subjected to these days using the specific issue of the Nord Stream sabotage as an example: https://petermcculloughmd.substack.com/p/people-of-the-lie.
We are at the mercy of rigged markets controlled by dictator Miliband.
He just upped the AR6 budget to £2.2bn p.a. and set the parameters for the next Capacity Market auction. He cancelled any new North Sea licences. He has rigged planning for solar and wind. He will soon have the opportunity to introduce fresh market rigging via REMA. I'm sure thee are other ideas in the works too.
They really are pathetic, the lot of them. None of them seem to have a clue about energy, technically or commercially. I'll bet there's not one power systems engineer amongst them. Guido Fawkes listed the 'special advisors' to Milibrain this week, complete zealots, eco-warriors and ideologues, the lot of them. No backgrounds whatsoever in energy or industry.
I did similar here, but also went into the background of ministers and senior civil servants.
https://davidturver.substack.com/p/desnz-net-zero-competence
Thanks David, the damage these people are inflicting on our country is criminal.
"Are the Starmeramas intent on claiming the most despised,unpopular, incompetent administration in recent history?"
Off to a flying start I'd say, against pretty stiff competition.
Yes, it's total madness, not one of them with an iota of common sense.
David, did you once provide an explanation as to why the wholesale cost of electricity is set by the cost of gas? I recall it was something on the lines of gas being the cheapest form of generating dispatchable electricity so that was the the base level that any bid to provide power would enter even if the cost was less when for instance there was lot of sun or wind?
If it was can you post a link as I cannot find it and wished to refresh my understanding.
Not quite. Near term wholesale prices are set by the source with the most expensive marginal costs. Typically, this is gas. However, renewables "game" the system because their actual costs are much higher and met by subsidies. I covered it here:
https://davidturver.substack.com/p/renewables-increase-electricity-bills?utm_source=publication-search
Thank you for taking the time.
Milibrain is totally misleading people that renewables will save us any money and surely his officials are telling him this. He should be honest and tell people that Net Zero is going to cost you more because we have to save the planet. At least then there could be a rational debate about the best way of doing that at least cost to consumers. His current approach is going to cost us a lot more and will certainly not be providing green jobs. The sensible thing to do is halt any further unreliable being added to the grid until the grid can absorb the power.
David, If intermittent renewable generation is not combined with sufficient storage to make it dispatchable, it must be backed up by sources of generation which are dispatchable so that grid demand can be met. If there is sufficient dispatchable capacity to meet grid demand in the absence of renewable generator output, the intermittent generation is redundant. Redundancy is expensive, but so is electricity storage. The space "between a rock and a hard place" is getting smaller.
We also have a weird fixation in generation. Personally, I'm looking forward to 2031 when all the EVs head to Cornwall for their summer holidays and won't get back because their is no transmission to power EVs. (I decided not to change the weird syntax above as both people and cars would be on holiday)
FWIW my Company's greatest asset is a guaranteed 6.5mVa connection. If it was tradable it would be worth multiples of our market cap
For the moment yes. Although it's going to start getting more perilous as Ratcliffe coal plant closes later this year. Then the remaining nukes roll off over the next few years and some of the gas plants get to the end of their useful lives. There's no way we can deploy the amount of storage required, even if it was affordable.
That's why they're ramping up "Demand Side Response" - essentially paying big businesses to turn off.
Covered it here:
https://davidturver.substack.com/p/wait-for-the-blackout?utm_source=publication-search
Sufficient storage is unachievable but there is certainly some advantage to more pumped storage of which there are several viable schemes which they should just get on and build now before putting up anymore windmills of carpeting over fields with solar panels.
They don't care. This Labour administration hate the poor. The Labour Party has hated the poor for years.
Not quite. The poor account for a significant part of their voter base, so it's essential politically for them to maintain a poor underclass.
Perhaps I should have said "despise" instead of "hate". They need their votes but they utterly detest them.
Agreed.