This is getting ridiculous (energy prices - Strictly NO referrals!)

Soldato
Joined
16 Aug 2009
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6,659
Local news is reporting a notable rise in break ins and robberies on pubs and other eateries and the reason and what they're after is... cooking oil. Whether used or fresh to sell on as biodiesel/biofuel. Think I've just about heard it all now.
 
Man of Honour
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13 Oct 2006
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83,126
Local news is reporting a notable rise in break ins and robberies on pubs and other eateries and the reason and what they're after is... cooking oil. Whether used or fresh to sell on as biodiesel/biofuel. Think I've just about heard it all now.

Surprised we've not had more attempts to steal fuel from cars around here, at least so far - but few cases of people thinking they can get away with sneaking a bit on the company fuel card (they never do get away with it) and stuff like that.
 
Soldato
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22 Oct 2002
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Boston, Lincolnshire
Surprised we've not had more attempts to steal fuel from cars around here, at least so far - but few cases of people thinking they can get away with sneaking a bit on the company fuel card (they never do get away with it) and stuff like that.

There was someone at our place who got sacked because he was meeting his dad down the road in his lorry and syphoning fuel into Jerry cans. The plonker got caught because he did it in a layby in pure daylight and got caught by a company lorry. What a numpty.
 
Soldato
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14 Jan 2018
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Hampshire
Some joyous reading for you.

Particularly how this govt has done **** all to help.

European nations have replenished much of their gas storage facilities with the International Energy Agency reporting Tuesday the European Union experienced a strong storage build-up during the second quarter of 2022.

But the UK's only major storage facility, owned by Centrica, was shut in 2017 leaving the country particularly exposed.

Centrica shut the facility saying the government refused to continue subsidising what amounts to a strategic reserve.

Worryingly from a UK context the government has done little to address the growing crisis with the political classes of Westminster putting their full focus and energies on the future of Prime Minister Boris Johnson.
 
Associate
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11 Dec 2016
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Oxford
austerity and balance the books
Isn't national debt getting close to 100% of GDP? Thats not the kind of balance we should seek

By itself it is nothing, but coupled with increased interest rates... I'm not sure the budget "can withstand rates up to 5%"
 
Soldato
Joined
14 Jul 2005
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5,709
Wasn't the purpose of austerity back in 2010 the entire reason for Camerons cutbacks to reduce gdp, instead it's increased 50%.
I may be wrong but I think things were strong pre-Covid. Covid borrowing has really screwed things up and now the Ukraine issue. Shouldn't have given away so much free money in Covid that was the crux of it.
 
Associate
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11 Dec 2016
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Oxford
Inflation will erode it. Coincidence?
I thought so too, but actually it is reverse.
Cost of servicing that debt is tied to interest rates, and this year this cost is going to jump from 20B to 84B per year. Ballooning the debt even further. And increasing inflation.
 
Associate
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5 Jan 2011
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528
Inflation will erode it. Coincidence?
Love that labour are seen as financially reckless but until 2008 debt to GDP was only 35% which was very manageable, but now we’re 12 years in of the conservatives and it’s 95% but that’s fine. They wasted so much public money.
 
Associate
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17 Oct 2009
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1,652
Doesn't sound particularly efficient nor probably able to be widely used but sand battery seems to have jumped from theory to real world.
Looks like its another potential situationally dependant tech though

I believe i mentioned it in another thread, but there are companies looking at heat storage to use in coal power stations. Very similar to that article in the sense that excess renewables are used to heat up thermal storage units. Then when they need power they use the units to drive the turbines. For example https://www.solarpaces.org/aalborg-csp-can-retrofit-coal-plants-into-thermal-energy-storage
 
Soldato
Joined
13 May 2003
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7,990
I thought so too, but actually it is reverse.
Cost of servicing that debt is tied to interest rates, and this year this cost is going to jump from 20B to 84B per year. Ballooning the debt even further. And increasing inflation.
I'm fairly sure it was more than 20Bn a year more like 50Bn. I think for most of the last 5 years the cost of servicing debt has been close to the size of the defence budget. I nearly spat my tea out the morning I got my last tax statement and the 5th largest segment of it was servicing national debt. As people are saying interest rates are going up and servicing that debt could get mighty expensive. We're lucky we have our own currency and our debt is typically sold on very long period Gilts.
 
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Soldato
Joined
26 Dec 2009
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North
I’ve bought a few Tapo energy monitor thingies to see how much things in the house are costing to run.

We have a old scandinova chest freezer in the cellar which according to the Tapo is constantly using 105w

We are with octopus on their June 2018 v1 variable

How much is this thing costing to run each year?
 
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