At less than 6pence per unit - So why is the price cap going up?
yes it is the only way to encourage investement in these industries....and we have to sell it into the market and buy it back at spot prices, market price is higher than local economic price, I believe
Yes. I'd suggest that enough carrot, it's time for stick. Swap so we are fixing prices relative to renewables instead of gas. So people with renewables make a reasonable profit and people burning gas find it uneconomic. Done correctly (with enough warnings to the market and a sufficient profit margin) and we could cut a huge amount off fuel bills. So that the winter fuel allowance was no longer necessary saving HMG a significant sum and possibly salvaging the current government's credibility.yes it is the only way to encourage investement in these industries.
wind farms cost a lot to build but once built are quite cheap to maintain.
Yes. I'd suggest that enough carrot, it's time for stick. Swap so we are fixing prices relative to renewables instead of gas. So people with renewables make a reasonable profit and people burning gas find it uneconomic. Done correctly (with enough warnings to the market and a sufficient profit margin) and we could cut a huge amount off fuel bills. So that the winter fuel allowance was no longer necessary saving HMG a significant sum and possibly salvaging the current government's credibility.
I can dream, right?
That would need the wholesale electricity market to be completely changed and the savings may not be as big as you expect, Currently multiple providers bid in at negative prices per MWh to ensure their product gets bought as things like nuclear reactors are slow to start and stop (though they can be stopped very fast in an emergency), which is why sometimes the cost of electric for a 30 minute period is negative. That would stop happening, and generators would need to bid at a level that would at least cover their costs.Yes. I'd suggest that enough carrot, it's time for stick. Swap so we are fixing prices relative to renewables instead of gas. So people with renewables make a reasonable profit and people burning gas find it uneconomic. Done correctly (with enough warnings to the market and a sufficient profit margin) and we could cut a huge amount off fuel bills. So that the winter fuel allowance was no longer necessary saving HMG a significant sum and possibly salvaging the current government's credibility.
I can dream, right?
Thanks - yes I appreciate it would be complex and may actually push costs up at some times. If we hit a period when wind and solar aren't enough then buying power in could be very expensive. I remember studying Dinorwig at school and thinking "what a dumb idea - it doesn't produce any power". But when you think of it as a giant battery it makes sense.That would need the wholesale electricity market to be completely changed and the savings may not be as big as you expect, Currently multiple providers bid in at negative prices per MWh to ensure their product gets bought as things like nuclear reactors are slow to start and stop (though they can be stopped very fast in an emergency), which is why sometimes the cost of electric for a 30 minute period is negative. That would stop happening, and generators would need to bid at a level that would at least cover their costs.
It would stop the massive profits the solar / wind generators make when gas (or worse, hydro) is needed though.
Dunkelflaute seems to be a problem at the moment. Not a great time for Eddy M!
Probably why Octopus are giving free electric ( above your normal usage) for a couple of hours tomorrow
Probably why Octopus are giving free electric ( above your normal usage) for a couple of hours tomorrow
The interconnector figures look a tad odd....we exported more than we imported. Do we act as re-export conduit at times
Yep we do we always export to NI for a start and sometimes if we have a lot of wind we export to EUThe interconnector figures look a tad odd....we exported more than we imported. Do we act as re-export conduit at times
@gman yup when the wind works its massive
be great in 5 years once all the farms in WIP come on line
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Yep for sure all we can do is move forward with wind and solar and see where the sweet spot is. I suspect we will just reduce our reliance on gas to a manageable level. The main hope is we can sell electricity to the EU it has an aging nuclear industryNaturally, the main concern is when the wind doesn't blow and the 'other sources' aren't enough.
Naturally, the main concern is when the wind doesn't blow and the 'other sources' aren't enough.
Yep for sure all we can do is move forward with wind and solar and see where the sweet spot is. I suspect we will just reduce our reliance on gas to a manageable level. The main hope is we can sell electricity to the EU it has an aging nuclear industry
The "base load" question is still unresolved. It used to be all coal....then nuclear offset the reliance on coal .....as coal diminished.....gas turbine stations were introduced to be able to meet spasmodic sudden demands.
Unless we get on and invest in significant gigabatteries for storage and/or SMRs, we will be "stuffed" in the next 10 years!
Yep for sure all we can do is move forward with wind and solar and see where the sweet spot is. I suspect we will just reduce our reliance on gas to a manageable level. The main hope is we can sell electricity to the EU it has an aging nuclear industry
Yes, at the moment it is stored(?) in the groundIdeally I would like gas to disappear from our energy consumption seeing as it's the part pushing the prices up. Although knowing our Governments and the big energy companies, they'd most likely just increase the price of the next type of fuel that is switched on last.
I recall a conversation on the radio about these mini reactors that could replace the big nuclear plants and provide the necessary energy when the renewables aren't enough. It was mentioned that there would be a 5-10 year build time, but if we fracked in the meantime we could have super cheap energy, possibly the cheapest in Europe. I've not looked at the numbers myself, nor if the concerns from earlier years surrounding fracking are actually valid / still valid.
Surprisingly, the guest they had on said that coal was one of the best backup solutions because it can be stored so easily and for a long time. I never really thought about it like that.
Yes, at the moment it is stored(?) in the ground
Unfortunately, the UK's use of fossil fuels is a drop in the ocean and coal is in higher demand now than ever before.
Why coal is being burned more than ever as demand in China and India soars despite carbon emissions warnings
Global demand for the fossil fuel is forecast to hit a record 8.77 billion tonnes, offsetting likely growth in renewable energy, as demand in China, by far the world's largest coal consumer, is expected to be nearly a third higher than in the rest of the world.news.sky.com
I suppose technically so is the oil and gas for fracking! lol
fracking is a viable option i would rather see gas being used than oil , gas burns quite cleanly.
Even cars were going LPG at one time