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cthulhucomes t1_iu4elo0 wrote

And yet the Tories - UK Conservative Party - refused and continue to refuse to decouple prices [renewable energy is charged at the same rate as non renewables]… as well as refusing any price cap regulation against price gouging.

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Eaton_Rifles t1_iu61p1f wrote

This is the key issue with this hike in prices.

That and the fact that gas supplies in Europe are at a surplus due to the balmy October and reduced demand.

We should have a price reduction based on the minus price of gas at the moment and wind power contributing so much to the grid, but of course we are still being charged an insane rate purely to give the shareholders a fat dividend.

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Throbbing_Furry_Knot t1_iu64iye wrote

I hate the dividends system. When it's not syphoning money out of the country, then it's strangling growth at a company when the braindead shareholders elect a board with the goal of maximising the dividend they receive instead of reinvesting the profit back into the company for greater long term growth.

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Eaton_Rifles t1_iu66et0 wrote

Yep, 100% this. If those insane profits were being invested in more renewable energy infrastructure to get us away from fossil fuels quicker then great, but to just fuel the wealth divide it’s obscene.

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Kinnell999 t1_iu89rzt wrote

Without dividends there would be no point in investing in a company.

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Throbbing_Furry_Knot t1_iu8kju4 wrote

Really? strange that people would invest in google then, which doesnt pay a dividend, or amazon, which also doesnt pay a dividend.

I'm not completely against dividends, but the leverage shareholders can apply to maximise it is often against the interests of company and country.

A cap of some kind on the percent of profit that can be given out as a dividend, or something akin to that might be ideal, as it would cause more to be reinvested and more money to be kept in the host country.

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Kinnell999 t1_iu8vd9s wrote

The shares only have value because they pay a dividend either now or in the future. If there were no dividend ever there would be no return on your investment because share holders would never receive a share of the profits. Those companies you mention are expected to pay a dividend at some point but aren’t now because they believe that reinvesting in capital will lead to higher dividends in the future.

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willeybrown t1_iu5talj wrote

The situation here in the US is the same. Also, the entire renewable energy field is heavily subsidized by tax payer dollars, both for construction and maintenance. Some might even call it a scam.

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razorxent t1_iu67pkz wrote

You probably mean non-renewable

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leonardoty t1_iu6etbv wrote

No, they meant renewable.
They are wrong, but they meant what they said.

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The-Brit t1_iu4gn09 wrote

Grid watch

At the time of posting this comment we are at 40% wind generation.

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SunsetKittens t1_iu4izad wrote

What does "IC" mean? Like when it says "IC2 France"?

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bestaa t1_iu4pfgc wrote

It means interconnection. These connections allow transmitting power between grids. Some of the numbers are negative, indicating power is being exported.

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The-Brit t1_iu4rrrw wrote

Scroll down the page to find definitions such as;

>IC FranceInterconnector to France - This is a link between between Folkestone (UK) and Sangatte (France). The 73 kilometres (45 mi) link is arranged as two fully independent 1,000 MW Bipoles, each operated at a DC voltage of ±270 kV. Cables are laid in pairs in four trenches so that the magnetic fields generated by the two conductors are largely cancelled. The landside parts of the link consist of 8 cables with lengths of 18.5 kilometres (11.5 mi) in England, and 6.35 kilometres (3.95 mi) in France.

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Icedevi1 t1_iu5npy7 wrote

Worth noting that currently UK is experiencing one of warmest Octobers in the recent times, with temperatures hitting over 20c in parts of the South East. Which is pretty much unheard of. I would surprised if the country is even using 20% of its total peak energy demand.

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barf8bv t1_iu61loy wrote

Shame the country is heated with gas

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Remarkable_Soil_6727 t1_iu5x4uz wrote

Still half the power generation is from gas, expect energy prices to get a lot higher in the winter and possibly even have blackouts.

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memoriesofgreen t1_iu5yfng wrote

Why is that? I've not been listening to Putin so might be out of the loop.

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Remarkable_Soil_6727 t1_iu5zdq2 wrote

Because gas is limited and countries that heavily relied on Russia for gas are now importing from sources the UK do like Norway (which provides 1/3rd of UK gas). The increased demand also had private companies extracting it in the UK and exporting it to Europe because they can sell it for more.

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Throbbing_Furry_Knot t1_iu668st wrote

Hopefully we get a mild winter and none of that happens. There is so much stored up gas in europe that can also be used by the UK, and so much LNG readied, as well as increased domestic production and storage in the UK now.

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Remarkable_Soil_6727 t1_iu66z0t wrote

>domestic production and storage in the UK now

The UK has some of the lowest levels of gas storage in Europe at 9 days and again all these gas companies are privately owned and can sell to Europe at a higher price or force the UK to pay a lot more than if they were state owned.

Theres also no guarentee the rest of Europe will sell any of their stored gas to the UK or at least massively over charge them so most people wont be able to afford it.

Even if we have the gas to not cause a blackout the poorest people might be forced into one due to not being able to pay the bills.

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totalbasterd t1_iu7lm0x wrote

the first two paragraphs of your message are largely completely untrue

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Remarkable_Soil_6727 t1_iu98d0v wrote

Go on then MR FACT CHECKER, how many days of gas storage does the UK have, and how many private vs public gas companies are there?

0