Posted on 08/29/2022 7:10:48 AM PDT by brookwood
The price of wholesale electricity has a “futures” market. Companies are paying now to lock in their energy costs next winter. In the UK the cost for electricity in December 22 has risen to 1,000 British pounds per megawatt hour which is about $1.20 per kilowatt hour. This is 6 times the average price in the US.
Gee, the queen will have to turn off the lights in her closets to make ends meet!......................
I’m curious how this will effect the migrant hotels.
Britain and almost all of Western Europe have committed cultural suicide. Economic consequences come with the neo pagan , epicurean decadence.
Those of us with 40 years in the power industry aren't surprised at all.
Holy carp! I pay 5 1/2 cents per KWH. That would be a 2000% increase here.
“ While we can blame Russia for the current gas supply problems, the real cause of this looming disaster has been the government enforced shutdown of most of our coal generating capacity during the last decade:”
Meanwhile, my retail price for electricity (including taxes and other misc charges) in Florida was 14.6 cents per kilowatt hour in the latest invoice.
Yikes! I was crying when my production cost went from 4.8¢ to 8.1¢ (plus a few non-negotiable cents for delivery) a couple months ago.
If I understand this futures contract correctly, the wholesale electrical futures prices in the USA are in the 80 cents per kwh.
https://quotes.ino.com/exchanges/contracts.html?r=NYMEX_QV3
Huntsville, AL - 7.71 cents/kwh
Will the Brits soon be experiencing large scale blackouts on days when the wind isn’t blowing? How will Prince Charles keep his polo ponies warm this winter?
Excellent, the Limeys can freeze to death in the dark.
Really nasty winter ahead. This is what happens when you follow the rantings of a retarded Swedish teenager. Don’t listen to people who ride the electric powered short bus.
Most of the US pays about 12 cents, until the midterms, then we’ll see similar numbers.
Yes. That and Biden’s war on Energy (fossil fuels) companies.
Stop Keystone, stop leases, send government officials to harass oil executives with potential lawsuits, have the EPA try to enforce “carbon dioxide is a pollutant” BS, tell coal miners to “learn to code”, constant drum beat “Oil/Coal is bad”, etc., etc., all of which caused Trump’s economic miracle of oil independence to crumble and investment to plunge downward.
In a saner world, we could have met Europe’s energy demand; but then, Russia wouldn’t have attacked.
It’s not a coinkydink that this is going on both sides of the Atlantic at the same time.
Deep States everywhere are doing their damndest to ensure Trump and Brexit are undone.
Who is your power company? Alabama Power is 14.7 per kilowatt hour...
Here is more info on electricity futures markets in the US.
North America Power Futures - CME Group
Power Trade PJM, MISO, NYISO, ISONE, ERCOT, CAISO and Ontario Monthly and Daily Peak & Off-Peak futures along with NYISO Capacity futures on NYMEX with CME Group. Enjoy competitive margins, execution costs and comprehensive offsets to some of the world’s most liquid energy products. Key Benefits
https://www.cmegroup.com/trading/energy/north-america-power-futures.html
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