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UK inflation forecast to hit 18.6% next year, energy bills may rise to £6000

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Re: UK inflation forecast to hit 18.6% next year, energy bills may rise to £6000

#41
post #23

Earlier quoted context omitted.

Unfortunately we'd need another 5 years to really make a difference whereas the gas crisis is going to hit us in months.

Quoted post unavailable.

It's a bit more real in Europe. Here in the Netherlands for many people their gas bill went up hundreds of Euro's a month. My electricity and gas rates are 2.5x what they were in 2020. The average family spending a additional 10% of their income of heating isn't what i would call "nothing"

Re: UK inflation forecast to hit 18.6% next year, energy bills may rise to £6000

#42
post #23

Earlier quoted context omitted.

Unfortunately we'd need another 5 years to really make a difference whereas the gas crisis is going to hit us in months.

Quoted post unavailable.

Based upon the price of gas jumps 150% in summer time when Russia coughs.

This isnt a crisis. The taps arent even off and it's summer. Russia turning off the taps in winter would be a crisis.

Re: UK inflation forecast to hit 18.6% next year, energy bills may rise to £6000

#43
post #30

With two candidates for the next UK PM having polar opposite views on how to fix the economy, who do you think is more correct in their proposal: Sunak or Truss?

Care to explain the opposite views? They both come from the same party so presumably have lot in common as opposed to Labor and LibDems.

Re: UK inflation forecast to hit 18.6% next year, energy bills may rise to £6000

#44
I've been whining about how unjust and non-meritocratic the current economy has been for the last 5 years and look at that... These insane inflation numbers are proving me right. I'm quite sure the inflation will continue too. My detractors were in fact gaslighting me the whole time, as I suspected.

The people at the top today are incompetent and lack principles. No better than the corrupt dictators of uncivilized nations. I almost get satisfaction seeing them driving that sinking ship all the way to the seafloor. That's the most meritocratic thing I've seen in a decade.

Re: UK inflation forecast to hit 18.6% next year, energy bills may rise to £6000

#46
post #18

I live in the north of England where temperature varies from 38F in Jan to 57F in August. It's pretty chilly for me, so I tend to spend a considerable amount of gas throughout the year. I'm renting a house, so deep work like insulation gets complicated. My point is that even with a comfortable salary, I will feel ~£600/month in energy. I can only fear for people that earn much less than me.

Why have you converted the temperatures to Fahrenheit? It hasn't been used in BBC weather forecasts in Britain since the 1960s.

People living in the UK already know the north is chilly, no need to quantify it. I have the impression that the overwhelming majority of HN is from the US, and "chilly" can mean different things depending where you're from.

Re: UK inflation forecast to hit 18.6% next year, energy bills may rise to £6000

#47
Three things:

1 Renewables: The solution exists already but no gov't (in particular the UK) is implementing it: https://en.m.wikipedia.org/wiki/100%25_renewable_energy

2 The UK gov't rather is arresting people demonstrating for housing insulation. This is probably the dumbest thing a gov't can do, since insulation is a "bipartisan" issue and everybody would profit from it.

3 On top of this the UK is on the verge of picking a fight with the EU and risking a trade war by its illegal and unilateral changes to the Brexit agreement. NI political issues aside, no sane gov't would do that at this point in time.

Re: UK inflation forecast to hit 18.6% next year, energy bills may rise to £6000

#48
post #18

I live in the north of England where temperature varies from 38F in Jan to 57F in August. It's pretty chilly for me, so I tend to spend a considerable amount of gas throughout the year. I'm renting a house, so deep work like insulation gets complicated. My point is that even with a comfortable salary, I will feel ~£600/month in energy. I can only fear for people that earn much less than me.

Why have you converted the temperatures to Fahrenheit? It hasn't been used in BBC weather forecasts in Britain since the 1960s.

it reminds me of this BBC video from 70s regarding the public opinion on the metric system https://www.youtube.com/watch?v=ykthWUdkhu0

Re: UK inflation forecast to hit 18.6% next year, energy bills may rise to £6000

#50
post #23

Earlier quoted context omitted.

Unfortunately we'd need another 5 years to really make a difference whereas the gas crisis is going to hit us in months.

True. But 5-years ago this national security reliance on foreign gas prices was well known, and little was done in the intervening time. The worry is that when the current crisis subsides that inaction will yet again fall back into favor. The solutions are, in part: - National gas storage reserve (to buffet price/supply spikes somewhat). - Expansion of green energy. - Programs to reduce usage (e.g. home and business…

It's not like this was an earthquake that we idly knew would come one day that just suddenly hit us out of the blue.

NATO made a deliberate decision to bring Ukraine into the fold in 2019 and Russia reacted predictably, but not before giving us an opportunity to back down first: https://www.nytimes.com/2022/02/02/world/europe/us-nato-resp...

We dove into this knowing full well the dire energy risks that escalation posed to Europe and are now acting shocked that we didnt prepare.

Even now Stoltenburg's official line is basically "suck it up, Europe" which I assume means that NATO leadership is perfectly comfortable with the idea of a European economic disaster this winter.

The solutions you mentioned are all great in theory but the workable ones mostly all have a 5-10 year horizon and we have a problem now.

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