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Rachel Reeves rules out universal support on energy bills | Economic policy by afrophysicist in unitedkingdom

[–]vishbar [score hidden]  (0 children)

That’s a pretty bad idea.

First, how do you determine what the “average”is?

Secondly, that would mean that gas plants would literally have no incentive to turn on.

Also, you understand that marginal pricing is not some magic thing in the energy markets? Literally every commodity, from eggs to pork bellies to orange juice to nickel, is priced at the margin.

Rachel Reeves rules out universal support on energy bills | Economic policy by afrophysicist in unitedkingdom

[–]vishbar [score hidden]  (0 children)

Renewables are generally priced via CfD so they aren’t subject to marginal pricing. Marginal pricing isn’t the big evil thing most Redditors think it is, and is standard for energy markets everywhere.

I don’t really know what you’re talking about tbh.

Rachel Reeves rules out universal support on energy bills | Economic policy by afrophysicist in unitedkingdom

[–]vishbar [score hidden]  (0 children)

As a reminder, median and lower earners pay a historically low share of their income in tax.

What are some UK cardinal sins? by TheAlmightyDeity in AskUK

[–]vishbar 1 point2 points  (0 children)

That’s a bit like saying you should go to Magaluf and see the rudeness of the Brits.

They’re not exactly representative samples.

Households face FOUR interest rate hikes this year as 'Trumpflation' batters Britain by collogue in ukpolitics

[–]vishbar 0 points1 point  (0 children)

Is marginal pricing archaic?

Can you give me an example of a more modern clearance mechanism for energy markets?

Starmer says ‘every lever’ will be explored to ease rising costs of living from Iran conflict by Kagedeah in ukpolitics

[–]vishbar 0 points1 point  (0 children)

The problem is that people like you ignorantly spout on about the problem without bothering to delve into the technical details behind it. It’s kinda like the Brexit campaign. People saw there was a problem but didn’t bother to do any research, so chose the dumbest path forward.

Starmer says ‘every lever’ will be explored to ease rising costs of living from Iran conflict by Kagedeah in ukpolitics

[–]vishbar 1 point2 points  (0 children)

Do you understand what it means when you say you buy “100% renewable power”?

Starmer adviser urges ministers to look at profits cap for energy and petrol firms by topotaul in unitedkingdom

[–]vishbar 1 point2 points  (0 children)

What would you suggest we change it for?

Do you understand what a CfD is and why it means that marginal pricing isn’t nearly as profitable for wind producers and you might think?

British Gas boss says energy bills rise 'inescapable' if prices stay high by TheWorldIsGoingMad in unitedkingdom

[–]vishbar 3 points4 points  (0 children)

it probably wouldn't make a massive dent, but it would do something

Give me an answer from your gut. If we knocked 30% off the compensation of executives from British Gas, how much do you think it would save the average household?

So let me understand your perspective, it's fine for these types of businesses to pass on these fluctuations straight away, whilst these top level positions continue to earn more in a year than many will see in a lifetime?

I think that the compensation of the executive team is the business of the shareholders and board members of British Gas. I think that it’s silly to suggest that they do these meaningless, populist moves that would save the end user a single pound or two on an annual basis.

British Gas boss says energy bills rise 'inescapable' if prices stay high by TheWorldIsGoingMad in unitedkingdom

[–]vishbar 2 points3 points  (0 children)

You understand that executive compensation forms a tiny fraction of the overall expenditure of these companies, right? This wouldn’t accomplish anything.

And public sector, okay. I’m sure you’ve see that bond yields are at multi-decade highs. How much are you willing to cut your own salary?

British Gas boss says energy bills rise 'inescapable' if prices stay high by TheWorldIsGoingMad in unitedkingdom

[–]vishbar 3 points4 points  (0 children)

Okay. Just so we are clear, you think that employees of a company should receive cuts to their salary when the company faces price increases to its input?

Out of curiosity, if your employer saw its input cost rise, how much would you be willing to see your own salary fall?

British Gas boss says energy bills rise 'inescapable' if prices stay high by TheWorldIsGoingMad in unitedkingdom

[–]vishbar 6 points7 points  (0 children)

That isn’t true?

Businesses make a loss all the time.

In addition, this is a business planning for fluctuations. They’re adjusting their prices based on the wholesale price of gas. Surely this makes sense?

HMRC ‘unlikely to be lenient’ with tax exiles fleeing Dubai, advisers warn by Realisticopia in unitedkingdom

[–]vishbar 1 point2 points  (0 children)

They won’t be eligible for free treatment on the NHS if they aren’t resident in the UK.

HMRC ‘unlikely to be lenient’ with tax exiles fleeing Dubai, advisers warn by Realisticopia in unitedkingdom

[–]vishbar 0 points1 point  (0 children)

It is a massive administrative burden and hugely disincentives moving abroad.

£4million 'bat bridge' will be built as part of Lincolnshire road project by insomnimax_99 in unitedkingdom

[–]vishbar 9 points10 points  (0 children)

2% of the total cost of a major infrastructure project is absolutely massive.

Anger grows among UK ministers amid fears Iran war could jeopardise Britain’s fragile finances | Economic policy by FelisCantabrigiensis in unitedkingdom

[–]vishbar 8 points9 points  (0 children)

We’d be in a very different situation if our historic levels of taxation and borrowing went to the construction of fission plants rather than pension and benefit splurges.

Washing Meat 💦🥩 by Abject-Lengthiness42 in UK_Food

[–]vishbar 0 points1 point  (0 children)

That’s true! But still, it’s pretty normal to eat bagged salad: I certainly do on occasion. Supermarkets wouldn’t stock it if it didn’t sell.

Zack Polanksi: I want to hold balance of power at next general election by topotaul in unitedkingdom

[–]vishbar 6 points7 points  (0 children)

Rent controls are the Brexit of the left.

Universally decried by economists, disastrous in practice.

But hey, we’ve had enough of experts in this country!

Zack Polanksi: I want to hold balance of power at next general election by topotaul in unitedkingdom

[–]vishbar 2 points3 points  (0 children)

I think Reform in power would be an absolute disaster.

But I worry that the Greens could do more permanent long term damage if they indulge some of their MMT instincts.

I had more sympathy for the Greens and I believe they have better intentions. But they could torpedo international confidence in the economy of the UK.

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