Submitted by Helicase21 t3_yfoeww in worldnews
Comments
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.
The-Brit t1_iu4gn09 wrote
At the time of posting this comment we are at 40% wind generation.
SunsetKittens t1_iu4izad wrote
What does "IC" mean? Like when it says "IC2 France"?
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.
SunsetKittens t1_iu4rncq wrote
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.
Ehldas t1_iu4tzvi wrote
Ireland equivalent : https://www.smartgriddashboard.com/#all
52.75% powered by wind. The record in Ireland is ~75%.
InMedioVirtus t1_iu5cv3r wrote
This version tends to load a bit faster on most devices, if you can excuse the clunky UI on mobile.
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.
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.
[deleted] t1_iu5twpw wrote
[removed]
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.
memoriesofgreen t1_iu5yfng wrote
Why is that? I've not been listening to Putin so might be out of the loop.
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.
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.
[deleted] t1_iu637fx wrote
[deleted]
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.
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.
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.
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.
memoriesofgreen t1_iu67ktj wrote
Gas price is currently negative. That means there is plenty of supply.
https://www.ft.com/content/8c4f9b6f-7770-490e-83e8-3fdd12f7a99f
razorxent t1_iu67pkz wrote
You probably mean non-renewable
Remarkable_Soil_6727 t1_iu67x1m wrote
"It lasted for one hour only and a more standard spot price now around €50/MWh remains twice the norm for European gas."
leonardoty t1_iu6etbv wrote
No, they meant renewable.
They are wrong, but they meant what they said.
UniquesNotUseful t1_iu6n3nz wrote
40% of our electricity is generated by burning gas
totalbasterd t1_iu7lm0x wrote
the first two paragraphs of your message are largely completely untrue
Kinnell999 t1_iu89rzt wrote
Without dividends there would be no point in investing in a company.
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.
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.
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?
Remarkable_Soil_6727 t1_iubf8c0 wrote
Are you going to correct me?
AutoModerator t1_iu4c8vw wrote
Hi Helicase21. Your submission from bloomberg.com is behind a metered paywall. A metered paywall allows users to view a specific number of articles before requiring paid subscription. Articles posted to /r/worldnews should be accessible to everyone. While your submission was not removed, it has been flaired and users are discouraged from upvoting it or commenting on it. For more information see our wiki page on paywalls. Please try to find another source. If there is no other news site reporting on the story, contact the moderators.
I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.