Why Britain's Electricity Price Increased by 3000% - TLDR News
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Over the last few weeks, Britain has seen a huge change in energy prices, with price increases peaking at 3000%. So in this video we break down what's happening, why prices are sky rocketing and what the government could possibly do about it.
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1 - www.bbc.co.uk/news/business-5...
2 - fortune.com/2021/09/16/the-u-...
3 - assets.publishing.service.gov...
4 - www.economist.com/the-economi...
5 - www.bbc.co.uk/news/business-5...
6 - www.economist.com/the-economi...
7 - www.cnbc.com/2021/08/24/russi...
8 - www.bbc.co.uk/news/uk-58615356
9 - www.spglobal.com/platts/en/ma...
10 - JavierBlas/status...
11 - www.theguardian.com/politics/...
12 - www.theguardian.com/money/202...
13 - www.enappsys.com/gbdayahead/
14 - www.economist.com/the-economi...
@robbiecotton6827 2 жыл бұрын
There’s plenty of gas and wind coming out of Downing Street. Can’t we just use that?
@Emanon... 2 жыл бұрын
If hot air was a commodity, the Anglosphere with Trump, ScoMo and BoJo would have been 75% of the total supply
@mickeythompson9537 2 жыл бұрын
That's methane...
@esme8944 2 жыл бұрын
@@JM-oi9pk 👍
@gentleben4770 2 жыл бұрын
It is far from a sustainable source
@bobwatson5970 2 жыл бұрын
@@Emanon... No wonder Global Warning is a thing
@alexd5637 2 жыл бұрын
So, they are going to wait for the many small suppliers to fail then bail the remaining big ones. Nice ..
@brightondude9327 2 жыл бұрын
I bet the remaining big ones will all be owned by their friends.
@frankieseward8667 2 жыл бұрын
@@brightondude9327 ensuring mass corruption and high prices. These guys are gouging out their voters and are not realizing this is gonna backfire.
@TheAllMightyGodofCod 2 жыл бұрын
Smooth move, right?
@stuartstevenson5341 2 жыл бұрын
@@frankieseward8667 Not if your too poor and hungry to backfire
@freelancer42 2 жыл бұрын
As is tradition.
@shandrakor4686 2 жыл бұрын
Not the best time to be retiring 10% of your energy production in 2025 when your closing half your nuclear plants, huh?
@levytaxes1454 2 жыл бұрын
That’s four yrs away lmfao
@gregbailey45 2 жыл бұрын
@@levytaxes1454 4, actually, but hey...
@kleinfeicht 2 жыл бұрын
Seem a high price I mean how many Nuclear plants do the have to just get only 10% out of it Also this only happend because the did like most eu countrys NOTHING and now the are fckd up But keeping to buy from the same country who made this mess is sure a good idea👍….
@angussoutter7824 2 жыл бұрын
Nope not really 😱
@MrZ00k 2 жыл бұрын
"Barbara get your coat on!" "Why Jim we going out?" "NO!...I`m turning the Bloody fire off!
@Orwic1 2 жыл бұрын
I have my cold weather clothing ready - thermals and fleeces all prepared. Glad I still have fireplaces and a big wood store!
@rsam8398 2 жыл бұрын
Barbra
@truxton1000 2 жыл бұрын
He also mentioned he was going to the pub!
@jimrogers5774 2 жыл бұрын
@@truxton1000 Beer gone has up as well
@Lightbeerer 2 жыл бұрын
Yes, let the annoying smaller energy companies go bankrupt, and move their customers to the really big ones. Then bail-out the big companies with the tried-and-tested excuse that they will be too big to fail. The Conservative Party can then collect completely unrelated donations from friends in the big companies. It's a win-win.
@berndhoffmann7703 2 жыл бұрын
@@AsobiMedio France will laugh their a's off. It will all go to the EdF....
@joshhudson6151 2 жыл бұрын
this is probably going to happen yeah
@auto_revolt 2 жыл бұрын
Sadly, most likely IMO
@BrianJ1962 2 жыл бұрын
@@berndhoffmann7703 SSE, a Scottish company, is also a significant player - so the Scotts will also be laughing (especially once they leave the Union)...
@Shire_Sam 2 жыл бұрын
Damn, it’s almost like they’ve done this before!! 😨😂
@cazza358 2 жыл бұрын
Energy consultant here: 1. The interconnectors to Norway and Denmark have not been built yet. 2. Brexit has not affected interconnector prices but will affect plans for a unified balancing market in the future. 3. One of the reasons prices went so high is that one of the French interconnectors went down. 4. It's LNG not LGN and it stands for liquid natural gas not light natural gas. 5. Brexit means Britain is not longer part of the ETS scheme so the high carbon credit price in the EU does not affect the UK.
@Merle1987 2 жыл бұрын
I'm a Canadian, and I even I caught some of these points.
@Liyayogaeverday 2 жыл бұрын
To be fair; the connector to Norway has been built. It is currently in the testing phase and power is already flowing.
@buddy1155 2 жыл бұрын
Did the French interconnector accidentally went down shortly after the submarine deal with Australia was cancelled? I wouldn't be surprised if they French mechanics suddenly have a strike as well.
@cam123man123 2 жыл бұрын
@@buddy1155 No there was a fire on the UK side it's not the French
@rok1475 2 жыл бұрын
@@cam123man123 Brexit supporters sabotaged the interconnect to cut the flow of electricity from EU?
@omgnowairly 2 жыл бұрын
Socialised losses and privatised profits... what a sweet deal.
@bhavjotkang8004 2 жыл бұрын
Let’s forget Texas and their privatized grid
@inventor1214 2 жыл бұрын
Wouldn't this be the opposite? Government mandated price caps and other restrictions causing a lack of supply?
@adonisparts1343 2 жыл бұрын
The fact that Texas had a privatized energy grid had nothing to do with the power outage, the reason the energy grid wasn't weather proofed was because snow storms aren't exactly common in Texas. There are plenty of state run energy grids that also go dark during heavy storms.
@discoboy8169 2 жыл бұрын
and blame Putin in all faults ) tell refugees they are welcome and put them in expensive hotels paid by local councils. Lovely set up )
@marczhu7473 2 жыл бұрын
@@adonisparts1343 not being weather proofed is a proof of search of profit instead of better infrastructure.
@GreenFont 2 жыл бұрын
Apart from investing more in nuclear, I'd say we should fill up our cars with liquid sovereignty because we have loads of it now.
@smartchip 2 жыл бұрын
Go woke, go broke,
@thecringesaltawardcompany1818 2 жыл бұрын
@@smartchip Brexit's sending you broke, love
@smartchip 2 жыл бұрын
@@thecringesaltawardcompany1818 that's got nothing to do with my comment, read it again,
@abhainnbeag 2 жыл бұрын
Shell's slogan used to be "put a tiger in your tank" how about 3 lions?
@abhainnbeag 2 жыл бұрын
Before I'm corrected, it was Esso had that slogan
@user-yx3wu8vt2w 2 жыл бұрын
Go new and safe nuclear combined with renewable. France is almost fully nuclear and sell electricity. And the UK has a lot of wind. Time to finance these for long term.
@falling_vega1257 2 жыл бұрын
I think the UK is a bit hesitant to rely on France, given the incident in Jersey earlier this year, where France threatened to cut power over a fishing dispute
@sabinehahn9774 2 жыл бұрын
France might currently not be so willing to help the UK out - just saying.
@jeffsterling2809 2 жыл бұрын
Nuclear is underrated af
@ArawnOfAnnwn 2 жыл бұрын
The reason the nuclear industry is in the doldrums in most places has less to do with activists and more to do with investors. Nuclear power plants involve huge initial investments, have loooong payback periods and even when that payback happens nowadays they don't really provide much better returns than many of the alternative options. So there's a lack of investment.
@Sir1us1 2 жыл бұрын
They can always buy Rosatom powerplants. Conservatives like soulless megacorps, right?
@Emanon... 2 жыл бұрын
My brother lived in London for 3 years and I still have friends there. I was appalled by the state of rental apartments' lack of easy, cost-effective energy saving measures ie insulation, lighting, thermo-windows, stoves and water heating. There's a huge potential for saving energy consumption if the right incentives/measures are taken to make landlords renovate their rented spaces...
@therealrobertbirchall 2 жыл бұрын
Most tory MPs are landlords, see the problem?
@mortlet5180 2 жыл бұрын
A linear decrease in demand won't *ever* be able to stave off an exponential increase in population.
@miskakopperoinen8408 2 жыл бұрын
@@mortlet5180 In principle that's true. However, UK's fertility rate is about 1,68 which is well below replenishment rate. UK's not really experiencing exponential population growth.
@blade5896 2 жыл бұрын
@@miskakopperoinen8408 you’re forgetting mass immigration and high immigrant fertility rates that are the biggest driver of U.K. population growth
@grahamleiper1538 2 жыл бұрын
Energy efficiency minimum standards for rental properties could make a massive difference to demand, and livability for people in those rented properties.
@michaelinhouston9086 2 жыл бұрын
Around 3:24 - "...light natural gas..." - what is light natural gas? Never heard that term. Does the narrator mean liquified natural gas (LNG)? There is a world wide LNG market.
@maxschon7709 2 жыл бұрын
He also use Norway as example for a EU country which it isn't.
@gregbailey45 2 жыл бұрын
Prolly. Ignoramus. He also called it GLN at one stage!
@rmc489 2 жыл бұрын
Lol.. That's what he meant. The issue there is they'll be buying off the spot market because the UK has not bought a long term contract with say... Australia or Qatar... Plus it probably doesn't have the LNG import facility to make up the shortfall.
@williampatrickfagan7590 2 жыл бұрын
Propane gas is a heavy gas. It sinks when released to atmosphere. Propane is heavier than air.
@williampatrickfagan7590 2 жыл бұрын
@@maxschon7709 Norway and the European Union have long established economic relationship. G B Fishers discovered that the hard way recently when Norway denied G B access to their tradional fishing waters because they U K left the European Union. Nice try. Brexshit is getting shittier by the day.
@stevenrowlands7731 Жыл бұрын
Knowing I'm going to be homeless just before winter is terrifying
@puzzledzimbo 2 жыл бұрын
There's another factor, the short sighted closure of the Rough Gas Storage facility in 2017 without really replacing capacity. Now the UK has only having a few days gas supply in storage now whereas many European countries have a few months worth in storage as a buffer against the volatile market.
@burkanarburky4447 2 жыл бұрын
not anymore, the Russians emptied the supply storage in Germany, we got only 5%
@robertsneddon731 2 жыл бұрын
The Dutch are ceasing production from the giant Groningen gas field in the near future, possibly because of depletion but I think there are lawyers involved too. When that goes Europe will be more and more dependent on Norwegian and Russian gas.
@burkanarburky4447 2 жыл бұрын
@@robertsneddon731 or not, I´m from Borkum an Island next to this, after some earthquaks they didn´t like this to much, we as well.
@marcellogenesi6390 2 жыл бұрын
Let us hope that this winter a large anticyclone system does not decide to park itself over GB for a couple of weeks o more, with freezing temperature, and no wind, so next to nothing renewable electricity; that coupled with the virus, and more electric cars on the road, should be fun.
@jon_j__ 2 жыл бұрын
@N Fels Assuming that's completely true, I agree that's rather silly. Just compensate the farmers.
@aapjeaaron 2 жыл бұрын
Just a small correction. You said light natural gas but LNG stands for liquid natural gas. They cool down the gas untill it becomes a liquid to make it easier to store and ship by boat.
@paulochikuta330 2 жыл бұрын
maybe the light is to distinguish methane(/ethane) from propane/butane
@aapjeaaron 2 жыл бұрын
@@paulochikuta330 natural gas is never pure methane. The natural in natural gas is the fact that it's gas found naturally compared to previously used coal gas. As far as I know there are no distinction for natural gas based in weight.
@victormuckleston 2 жыл бұрын
@@paulochikuta330 no
@normanstewart7130 2 жыл бұрын
.. or liquified natural gas to be exact.
@Mtrs_Chic 2 жыл бұрын
@@aapjeaaron Natural Gas is primarily Methane, with some impurities that include CO2 and Hydrogen Sulfide amongst others. Ethane and Ethylene would be called NGL or Natural Gas Liquids. Natural Gas because Methane Gas is produced by the natural anearobic digestion of vegetation, and remains a Gas when Produced.
@glassooy1 2 жыл бұрын
Bottom-line : somebody is going to make a "bleep"load of money and you're not him , you , you will be be up the "bleep" creek
@pseudonayme7717 2 жыл бұрын
Exactly. The problem, as with everything else in the tory economy, is middle men squeezing the prices up. Remove the middle men and nationalise power, job done.
@MrSmith_ 2 жыл бұрын
8:00 I don't think pubs being closed would make much a difference these days since most of them are closed anyway.
@FuZZbaLLbee 2 жыл бұрын
Russia “we produce less gas, how about a second pipeline?”
@megasin1 2 жыл бұрын
yeah this bit confused me. Surely this decreases the odds of a second pipeline, because they have 1 pipeline already capable of multiplying its output by 4.
@Kage-jk4pj 2 жыл бұрын
If people in Britain weren't terrified of nuclear we wouldn't have this problem. Too bad people don't care how much safer and more efficient nuclear fission has become in the last decade. Or the fact that nuclear kills less people per KwH than even wind and solar (and absolutely destroys coal and natural gas) its just that safe with some truly insane energy density. Unfortunately it will always be seen as dangerous and unpopular due to Chernobyl and Fukushima
@lyampetit144 2 жыл бұрын
@@Kage-jk4pj In France nuclear is workin well
@martinwest7250 2 жыл бұрын
@@Kage-jk4pj also scared of solar and wind farms making places unattractive, unlike the beautiful gas rigs.
@connermckinney9022 2 жыл бұрын
They have actually produced a lot more gas this year, however, they been prioritising increasing their own storage rather than exporting to Europe.
@trabladorr 2 жыл бұрын
Any company that is bailed out by the government must be made public permanently and fully open to parliamentary scrutiny. How have we allowed private companies to blackmail society?
@jasonpost913 2 жыл бұрын
Normally I agree with this kind of sentiment. But this time it's the governments fault they need a bailout. A price cap that didn't account for production costs is a recipe for exactly this kind of mess
@silverbullag4759 2 жыл бұрын
We built our world & our everyday lives off fossil fuels,all our infrastructure is fossil fuel based,built, we cannot transition to renewable without fossil fuels, no investment & ESG mandates are the cause of this,They have no planned alternative to fossil fuels because our world leaders are Brain dead,retarded yes men
@mauricebarnett6951 2 жыл бұрын
Well every political party is a private party, yet we have allowed them to dictate to the public without scrutiny
@LarsPallesen 2 жыл бұрын
@@mauricebarnett6951 In theory the politicians ARE representatives of the public. Political parties is just how said politicians group themselves according to conviction.
@mauricebarnett6951 2 жыл бұрын
@@LarsPallesen well then we have a big problem, and that problem is quitr clear to see because public and private cannot mix. Private bodies can be bought and manipulated, whixh is what we are seeing all over the globe. Also Royals and politics are mixing now, as well as celebrities and other big corporations, which are not represrntives of the public. They are no longer representing the public, they have destroyed democracy and put power in place of it, all to fall in line with the elitists who have bought BoJos and Starmers arse.
@mcr257 2 жыл бұрын
We had all summer to refill storage + oil prices went negative. Saying last winter was cold at this point makes me think storage is being deliberately miss managed.
@rmc489 2 жыл бұрын
No, it's incompetence. Australia has done the same for our fuel storage facilities... Failed to maintain the tank farms and allowed all refining to be offshored.
@igzom819 2 жыл бұрын
why the fuck does UK have so many *PRIVATE* companies providing this crucial service? This industry is supposed to be mostly government owned to prevent such problems
@connermckinney9022 2 жыл бұрын
Would have been good if you mentioned that UK gas production is also down by ~30%
@reheyesd8666 2 жыл бұрын
Supply chain issues too
@PutsOnSneakers 2 жыл бұрын
@@reheyesd8666 Gas has nothing to do with supply chain, gas production and delivery is a completly automated process. It is clearly stated in the video that the cold winter has been a direct cause for the decrease in gas production. it's has NOTHING to do with supply chain
@effexon 2 жыл бұрын
you need more cows...
@connermckinney9022 2 жыл бұрын
@@PutsOnSneakers cold winter has nothing to do with gas production. It just means an increase in usage therefore an increase in demand. Gasprom is hoping to increase production by 55bvm YOY. Uk And Norway production is down due to unscheduled maintenance. Should bounce back by next year.
@PutsOnSneakers 2 жыл бұрын
@@connermckinney9022 Thats the point I was making
@mattvanders 2 жыл бұрын
I work at a power station so get to see what’s going on from a different perspective. Firstly the it was the low wind supply was one of the main issues, the UK can get up to 50% supply of demand on a summers day (high winds, low demand). Winds were expected to be high throughout summer so a lot of power stations are off line to carry out maintenance and insurance inspections. A lot of less efficient or small site go in to summer hibernation because it cost too much money to be sat around in warm ready mode the whole of the summer and not run, it will take days to get ready to run and that’s relying on site operators being available. COVID has also really effected the outages of the power stations with them being off line for a lot longer than planned because of workers having to isolated. This all leads to the site that can run being able to change what they like (up to £4000 a megawatt is the highest I saw).
@timkeevil2989 2 жыл бұрын
Well written. Thanks. Test and Trace providing no use again! I saw there was a fire at an interconnector to France too...
@RyanKingLogue 2 жыл бұрын
So the government then
@unskeptable 2 жыл бұрын
Yes all this combined with Brexit is going downhill. Europe can help now but we will pay the price as outliers
@mattvanders 2 жыл бұрын
@@timkeevil2989 actually it wasn’t test & trace that was an issue, because of the teams of guys having to share accommodation, vehicles and general on top of each over at work once one person showed signs of COVID and a positive test everyone had to be tested and isolate. You could be losing 10-20 guys at a time and due to a lot of them being contractors for the contact company there isn’t other people about to take over the job short term.
@mattvanders 2 жыл бұрын
@@timkeevil2989 yep, the interconnection with France had a fire, there are a number of this connectors with Norway, Holland, France, Belgian and Ireland. Electricity produced from the other countries can be cheaper but not always greener (more coal power stations in mainland Europe).
@jameslochridge4265 2 жыл бұрын
You mean Englands shortages Scotland has an excess of energy that Westminster takes and gives to England and the best laugh is Scotland who provides this energy actually pays to put our energy onto the National Grid. Whereas in Kent where they don't produce enough energy gets paid to do the same thing. In my opinion, no utilities Gas, Electricity, Water should be in private ownership.
@christianlibertarian5488 2 жыл бұрын
So that utility prices can be increased to suit political motives?
@ArvindKumarNatarajan 2 жыл бұрын
The economy hardship, recession,unemployment and loss of job caused by covid pandemic is enough to push people into financial ventures.
@Kenny-bj2zq 2 жыл бұрын
I fear this energy crisis with our inflation is going to ruin whole gernations.....
@craigthebrute3262 2 жыл бұрын
Privatise the profits! Socialize the losses!
@can-uc-wakeup 2 жыл бұрын
That just wouldn't work; the ruling elite would never agree to it. People are fed off and milked like cattle. All prices are increasing, declared inflation is not being truthfully reported; just look at the price of housing. There you see the real price of inflation, there you see how bad things really are. Housing is being used to underwrite Trillions in hidden debts. Are your suspicions answered at can-uc? KZfaq and website. This is just the beginning, where is the end? Reality or a dream, where do we live? If they hide it from you, how will you know? Open your eyes to the world around you
@M2Mil7er 2 жыл бұрын
@@can-uc-wakeup The comment you're replying to is stating what is actually happening. The elite already do this; they reap the profits for themselves, and when they fail, they get the public to pay for it in the form of higher taxes and bailouts, but the CEOs still get huge bonuses. You're right that it doesn't work though, as we're seeing now. We need to nationalise all infrastructure so profit is reinvested into production rather than being funneled offshore in tax havens.
@can-uc-wakeup 2 жыл бұрын
@@M2Mil7er Yes, the ruling classes look down upon the people, like shepherds herding sheep. (A modern-day take on that would be manipulating the people through the mainstream media.) How do you nationalise a company? What assets would the government use to underwrite such a venture? They are already struggling to satisfy their exposure, they are struggling to service their debts. The economy of the UK is now so underwater, the government have nothing left to barter with. The Central Banks own it all, and the only real answer to the Trillions in unsecured liabilities, is to Jubilee away the debt; or for the people to no longer be able to pay it back. And how does that happen? A decline in the population. The world is facing a financial crisis, the likes of which we have never seen before; have hard decisions had to be made? In a war of survival, there have to be casualties. Who holds the debt to people's lives? What should people be looking to, if and when the system fails them?
@beanybeansable 2 жыл бұрын
Remove the energy price cap. Thats the socialist part
@Trozomuro 2 жыл бұрын
@@beanybeansable With that you will enrage the consumer.
@hyksos74 2 жыл бұрын
"The minister promises it will be business as usual" - in other words, any government bailouts will be siphoned off through large bonuses and dividends to Tory doners.
@maxdavis7722 2 жыл бұрын
@SMA Productions ah yes cus that can done real quick
@ogribiker8535 2 жыл бұрын
@SMA Productions And of cause nuclear doesn't generate any waste, oh wait (100,000 years!!!!)
@calebwilliams586 2 жыл бұрын
@@ogribiker8535 we already know how to dispose of the waste properly. Not to mention if you live in the City you get more radiation than Chernobyl does today.
@ogribiker8535 2 жыл бұрын
@@calebwilliams586 NO we don't and it will still be 100,000's of years before it's safe (we hope!). Why are you so stuck in the past ?, nuclear power IS NOT green or safe. That's why it's been phased out !.
@calebwilliams586 2 жыл бұрын
@@ogribiker8535 it's been phased out by fear mongering. The uneducated public is nervous about the idea of radioactive waste and chernobyl-like events. neither of which are reasonable fears. Those educated on the pros and cons of nuclear largely support it. If you have the money and the time, take a class on the variety of energy solutions we have available, and their pros and cons. It is a very muddy picture and the solutions are far from black and white. Nuclear power is INCREDIBLY efficient, and the waste products can be easily buried deep in the earth in strategic locations and containers in a way that the radiation they let out is a non issue. We have already done so. The concrete in the building you are sitting in is more a danger to your health than the waste stored responsibly underneath a mountain somewhere.
@uppercrust400 2 жыл бұрын
This won't solve any immediate problems, but it will prevent any future energy problems - build a lot more nuclear power plants. Being reliant on any one type of energy (in this case wind and natural gas) is never good.
@thecomment9489 2 жыл бұрын
The new AUKUS pact will solve energy crises.
@maximilian5817 2 жыл бұрын
@@thecomment9489 Of course...
@christianlibertarian5488 2 жыл бұрын
@@thecomment9489 Well, if you could get the US to ship its natural gas to GB instead of burning it into the Canadian sky, it would.
@thecomment9489 2 жыл бұрын
@@christianlibertarian5488 If that's the case then the US should be shipping all the gas Britain needs because of very strong alliance between the two Anglo countries and integral members of AUKUS. And that too at discounted rates. Sorry, the MIC wants Britain to first buy at least one billion pounds worth of latest weapons for removing the blockade of North Sea by the Chinese Navy.
@christianlibertarian5488 2 жыл бұрын
@@thecomment9489 Until not very long ago, the US had a stupid law that forbade export of gas and oil. The law is gone, but the export infrastructure does not exist. Natural gas literally has a negative value in North Dakota at the well head.
@manganiphiri4331 2 жыл бұрын
Cost reflective tariffs are a huge issue here in Zambia, didn't know that the UK has the same problem.
@nffclacey 2 жыл бұрын
Yeah things are getting a bit tougher in some regards life is still easy in the UK just more thing's to worry about.
@counciebaby2742 2 жыл бұрын
I remember as a lad, politicians told us nuclear power electricity would be so cheap that every household would just have to make a small fee for running cost. And for many years. I've been looking out for flying pigs
@Glorfendal 2 жыл бұрын
Nuclear has always been really expensive, and an extremely big investment upfront and a long time before energy is generated as the plants take ages to build. Solar and wind are significantly cheaper and faster to implement
@RBuckminsterFuller 2 жыл бұрын
@@Glorfendal It's a matter of terrible foresight. If we'd built more nuclear power plants over the last twenty years then this would never have become a problem. Wind is clearly not reliable, and neither is Russia. Don't get me started about solar (particularly in the UK).
@wotzatfa 2 жыл бұрын
@@Glorfendal this is a false statement. let take water. Tap versus rain. Rain is free but not there on demand. Tape water is... Available on demand. It is the same with energy. Relying on solar and wind... is not cost effective, even if it is cheaper... Nuclear is the only way forward.
@Gixer750pilot 2 жыл бұрын
“Too cheap to meter” . Yeah right
@thoso1973 2 жыл бұрын
The Hinkley Point C plant has been called the worst deal a Government has ever made, greenlighting a new nuclear power plant. The strike price agreed for the electricity the plant will produce when it goes online, is ~230% of that of electricity generated by wind and solar today. And wind and solar are going to get cheaper yet in the future.
@MackerelCat 2 жыл бұрын
The energy companies say they need help but just wait, they’ll all be paying execs bonuses of millions you’ll see.
@cockneyse 2 жыл бұрын
And I wonder what party those executives will donate to...?
@lttweety6397 2 жыл бұрын
But of course. At the hands of the execs, they will see record customer increases in years. /s
@SJ-np4cz 2 жыл бұрын
In a free country you have to pay the market price to retain human capital. Otherwise your employees (including executives) take their knowledge and experience elsewhere. Why do you people despise freedom and success so much?
@jacobarcher1097 2 жыл бұрын
@@SJ-np4cz complain about needing money to run a business. gets handout. Pays shareholders a bonus. Not sure what's fair about that? There going to pay shareholder with our moneym
@bbasmdc 2 жыл бұрын
@@SJ-np4cz True. But I do remember there's a study that says there's actually a negative correlation between CEO pay and company performance. Basically most CEOs are just figureheads and the best you can hope for is they don't screw up things too much for the people actually doing the work.
@jedoverland3040 2 жыл бұрын
Now living in my car full time and documenting it on my KZfaq channel. I couldn’t stand trying to keep up anymore…
@DanielPizarro184 2 жыл бұрын
thanks alot I knew you would give us a nice video about this topic, love your channel 😌
@klompb 2 жыл бұрын
They should just have Boris stand in front of those wind turbines. The amount of hot air that dude expels should solve the problem in no time. Edit: correction of grammatical error.
@somecuriosities 2 жыл бұрын
Lmao
@effexon 2 жыл бұрын
lend one of those nuclear subs they signed with US.... as temporary power plant.
@CrusaderZav 2 жыл бұрын
You mean a turbine
@davidgottshalk8450 2 жыл бұрын
I couldn’t agree more. It would be great to see him do some blowing on a wind mill just to stop the prices going sky.
@hewhohasnoidentity4377 2 жыл бұрын
@@effexon Russia actually has nuclear power plants on ships for use as portable power supply.
@esoel 2 жыл бұрын
The usual story of privatising infrastructure, when things go well shareholders take the profit, when they go bad taxpayers cover it.
@axellacaze9115 2 жыл бұрын
To be fair the price limit severly limits these companies ability to deal with this situation. A temporary revocation of the limit coupled with guaranties to limit profits cpuld be a way to adress the situation..
@captainweekend5276 2 жыл бұрын
@@axellacaze9115 All that does is shift the burden of the price onto the consumer who in many cases equally cannot afford the cost. Whether the price cap is raised or the company is bailed out with taxpayer money, it's the british public who get shafted with the cost either way.
@axellacaze9115 2 жыл бұрын
@@captainweekend5276 Sure but it's not like these companies are making a profit out of it. It's just the actual price that it is supposed to cost. It would be the same if it was a public service, just that you'd pay it through taxes. On the other hand, you can certainly make the claim that in good times such companies should save enough money to deal with this kind of situation without going bust...
@tkelly6121 2 жыл бұрын
@@axellacaze9115 we do have anti price gouging laws even without the cap to protect customers. Removing the cap seems to be the better idea in the long run. Its better for the consumer if we have a lot of different companies competing than letting them go bust due to the cap.
@anthonymitchell8893 2 жыл бұрын
bang on mate
@porcus123 2 жыл бұрын
The cautionary tale for any country that tries 100% renewables that you cant control. Gotta have the minimum secured with coal or nuclear.
@joelang6126 2 жыл бұрын
Tidal
@porcus123 2 жыл бұрын
@@joelang6126 tidal is useless at best
@joelang6126 2 жыл бұрын
@@porcus123 Completely disagree especially in UK. Areas round Scotland are ideal for sub sea tidal farms. Pebtland firth for example. Wind is useless. Most of the offshore farms built in the last 20 years will be EOL soon. Too many eggs in one basket ultimately. The coastline line especially around the East has been ruined by huge areas of these things.
@porcus123 2 жыл бұрын
@@joelang6126 1st hidro eletric power is dependent on height diference betwen the 2 surfaces and very few places have such strong tides at the same time offering a good basin 2nd the time you are filling it up and letting it out will be almost 50% low output compared too the maximum and keep in mind max will be low too compared to wind 3rd salt and the sea really fucks everything you build in there be it concrete to turbines 4th those areas the also one of the most productive biomes in the planet so its counter productive to destroy them for green energy, sure you can probably build man made basins and ignore this point at a VERY high cost Its useless.
@johnheaney6383 2 жыл бұрын
Britain voted to leave the family but still wants the family discount and preferential treatment😂😂
@johnbraithwaite863 2 жыл бұрын
Global shortages, and green planning are pushing prices but you be like: 'hur dur brexit'
@TheBaconWizard 2 жыл бұрын
Next time, try actually watching the video instead of looking like an utter moron. I am a remainer, but that's just idiotic. Brixit isn't helping but it clearly isn't the cause nor the main source of the price rises.
@Whoami691 2 жыл бұрын
How's the gas crisis in Europe sugarplum? 😂😂😂😂😂 Nice try dumb@ss.
@marius2k8 2 жыл бұрын
The 'family' has a migratory population-replacement problem and won't admit it needs help.
@matthewcooper7296 2 жыл бұрын
The “family” no longer cares for its own
@fzr600dave 2 жыл бұрын
those Nuclear power plants we should have built are looking pretty nice now aren't they?
@julianshepherd2038 2 жыл бұрын
Storing more gas wou.d be quicker easier and cheaper. Steam technology with a bomb factory powering it is not the future unless you live in 1950
@reheyesd8666 2 жыл бұрын
but meh enviroment
@benjamin2149 2 жыл бұрын
Too expensive! Nuclear power has the highes TCO of all.
@vorong2ru 2 жыл бұрын
@@julianshepherd2038 there is no future without nuclear power- the greenest solution we have so far
@ylu5384 2 жыл бұрын
@@julianshepherd2038 c l u e l e s s
@mikekinghan9783 2 жыл бұрын
"Why Britain's Electricity Price Increased by 3000%". The video claims (around 5m 28s in) that wholesale electricity prices have risen "about 700% from their five year average of around £45 per megawatt hour to £424 on September 14th". £424 is not about a 700% increase over £45; it's about an 840% increase. Whatever, where's the other 2160%?
@protonnumber8867 2 жыл бұрын
Yeah I think they accidentally dropped an extra zero in there.
@DreadPyke 2 жыл бұрын
424 was a mistake, he meant to say 324 as indicated on the chart he was showing.
@Nabium 2 жыл бұрын
Yeah, to me it seems like it should have said 3000 ‰. Or just 300 % Seems like proof reading isn't in fashion these days. Here in Norway we rely on weather as well since 95% of our electricity comes from hydropower. So in years with less rain we see considerably higher prices. Prices going up and down 3-folds seems normal to me. I was expecting something way more crazy than that, seeing the headline.
@alphamikeomega5728 2 жыл бұрын
It's possible they've gone for the number which would be the annual increase in electricity prices if they maintained the unusual inflation of September for a full year.
@LeeGee 2 жыл бұрын
This channel is rubbish. Why was I ever here?
@DeathToMockingBirds 2 жыл бұрын
Instead of bailing out the energy companies, they should be nationalized. Costs the same (or less), and the need for profit scalping the consumers is gone.
@pigman-nl7fg 2 жыл бұрын
The customer would end up paying more, because of how inefficient governmental agency's are, most UK energy companies are running at a loss as said in the video, even if they were profitable it would be on slim margins.
@Apollo101A 2 жыл бұрын
This wouldn't be the first time they nationalized a sector
@scorpioneldar 2 жыл бұрын
@@Apollo101A exactly how we know it is a bad idea just look at how desperate nationalizing rail made them before they were forced to turn to the private market to save them. (and because it was a government chosen private solution it naturaly created concentrated power and poor solutions.) nationalization is a bell that cannot be un rung even if you go and privatize things later.
@DeathToMockingBirds 2 жыл бұрын
@@pigman-nl7fg I don't care how efficient it was 50 years ago, before Thatcher and the resto of the Neo-Liberals gutted every ounce of public infrastructure they could. Part of that inefficiency is deliberate underfunding and neglect to pave the way for private takeover. You don't vote for who's controlling a private company. You don't have a say on how it's ran. How about you did? How about we learned from the mistakes from the past, and let committees of workers and community members vote on the big decisions made by public companies? Unelected goverent executives are not much better than private ones, sure. So if we're changing stuff, I'd push for Worker's COOP at the scale of the nationalized industries.
@thecomment9489 2 жыл бұрын
I suggest building ten aircraft carriers to stop Chinese aggression is more important. Chinese navy ships are patrolling the UK waters already.
@cameronf3343 2 жыл бұрын
I love how after a century and a half of electricity, at 22 I’m about to live to see the day it decides to become a fucking free-for-all. And the world hasn’t even run out of fuels yet, which would make it understandable. Developed countries are just deciding to be spontaneously incompetent toward each other.
@robertboryk791 2 жыл бұрын
Sounds about right.
@adolfhortler9477 2 жыл бұрын
The wind doesn't blow and the sun doesn't shine while your country collapses, "renewable resources" my ass
@cameronf3343 2 жыл бұрын
@@adolfhortler9477 Invalid.
@robertboryk791 2 жыл бұрын
@@cameronf3343 There are other ways to make electricity. They are getting pushed n this direction. It is not that bad, the media has always hyped BS. The older you get the more BS you can see. If you look at the crap from the 50s on you will see them trying to scare the crap out of you. Take it is stride. I got Adolf's joke.
@TemperTemper... 2 жыл бұрын
@@robertboryk791 It just costs money. You must have an excess if you think this is a good thing.
@auto_revolt 2 жыл бұрын
The cynic in me sees them letting each of the energy companies fail until the customers end up monopolised in one Tory donor owned company, then they'll bail that one out.
@frankieseward8667 2 жыл бұрын
But then high prices no regulation lack of accountability.... It'll be a house of cards. Monopolies aren't a good thing.
@thepodcastcrew1113 2 жыл бұрын
@@frankieseward8667 In capitalism it is
@frankieseward8667 2 жыл бұрын
@@thepodcastcrew1113 not even that. If you have to constantly bail out a company because of ineptitude or corruption then its not capitalism, it just plain incompetence.
@richy3417 2 жыл бұрын
And when people complain, blame Brussels. I bet it'll work even post Brexit :D
@weediestbroom 2 жыл бұрын
I'd bet on that
@allanm6246 2 жыл бұрын
Who needs the Muppet Show when we have Boris for laughs.
@stanleydavidson6543 2 жыл бұрын
i think they should go back to using coal power plants simple
@karolakkolo123 2 жыл бұрын
@@stanleydavidson6543 nuclear.. both clean and reliable, and more profittable in the long-term
@kroon1930 2 жыл бұрын
"It's not easy being green...."🎶🎶😂😂😂
@allanm6246 2 жыл бұрын
@@stanleydavidson6543 You can not be serious!
@allanm6246 2 жыл бұрын
@@karolakkolo123 Clean nuclear power is yet to be invented.
@LongDistanceSailor 2 жыл бұрын
Politicians need to get a spine and pass the costs to the consumers. But they won't
@kapytanhook 2 жыл бұрын
Yeah, this is the biggest problem of the slow communism spirit sneaking in. Protecting people at the cost of the people until everyone is equally poor. Price caps have never been a good thing, just let the free market decide. Yes power will be more pricey now, but cheaper usually. Make people feel how the politicians screwed them by shutting down/rejecting more nuclear and coal. Wind and foreign oil = Fluctuation, why do I have to suffer when eventually the poor get energy subsidies and i get extra taxes on top of growing energy prices?
@SweetMeethi 2 жыл бұрын
Cheers for video, very helpful 👍
@14loosecannon 2 жыл бұрын
Can only imagine what the reaction would in the media if this was happening under a Corbyn government!
@Bushflare 2 жыл бұрын
Doubtless similar to the Europhiles bending over backwards to blame the whole thing on Brexit. Folks ain’t living in reality no more. Everyone’s got a boogeyman.
@danielwebb8402 2 жыл бұрын
They'd wrongly blame the extra restraints he'd have brought in on these companies. Rather than them wrongly blaming Brexit as they are now. The government are getting "blamed" here too. According to these comment section.
@StuartSouter 2 жыл бұрын
Corbyn would nationalise.
@Bushflare 2 жыл бұрын
@@StuartSouter Probably but he also wouldn’t be in power so it wouldn’t matter.
@StuartSouter 2 жыл бұрын
@@Bushflare He wouldn't be in power under a Corbyn government?? Riiiiiiiiiggghhht.
@danielsykes7558 2 жыл бұрын
7:30 bail them out for shares and board seats like Germany does.
@danielmorse922 2 жыл бұрын
It's either going to be a light form of nationalisation now, or a full nationalisation when there is only one company left later.
@user-nf9xc7ww7m 2 жыл бұрын
Are you referring to the mando half the board being employee reps or actual govt shares?
@zombieat 2 жыл бұрын
@@danielmorse922 one company too big to fail controlled by the government with subsidizes paid by taxpayers and/or government debt to the central bank. that is abusing regulation to get to communism. monopolize a company with restrictive industry regulations smaller companies cannot afford in exchange for campaign donations, a board seat or shares. and then subsidize when it fails because its the only one left and to take control of it. how is this not 3rd world level corruption? it is the epitome of corruption and conflict of interest.
@jacobarcher1097 2 жыл бұрын
@@zombieat energy is a public good it should be nationalised in some way, the market doesn't work as seen here if there was no price cap 1000s would die or have to choose between eating or heating.
@TheMagicJIZZ 2 жыл бұрын
@@jacobarcher1097 that isn't bow things work Some companies distribute energy and produce electricity Some buy it and are like Giffgaff or three but use a transmission line It's not the same
@RMILLSMMA 2 жыл бұрын
Ermmm.... More wind plants maybe?? I still struggle to understand how Eon claim my entire electric supply is from renewable energy but my price is going through the roof. I'm about to start paying £220 for a three bed detached home!! 😡
@iaincathro3373 2 жыл бұрын
Energy Companies are making record profits - we have a crazy reliance on wind to appease the greens - and we never saw price REDUCTIONS when the wind was blowing - it only every works one way with these greedy firms.
@GageEakins 2 жыл бұрын
There is absolutely no reason for energy to be a private sector. All energy production and distribution should be nationalized. It is a massive waste to have a profit motive in such a critical part of a country's economic output. That is not to even mention how immoral it is to profit off something that every person needs to survive in the modern world.
@Bushflare 2 жыл бұрын
Socialists: “We don’t trust the Tories with power!” Also Socialists: “Only the Tories can be trusted to generate our power!”
@GageEakins 2 жыл бұрын
@@Bushflare I was not making a statement only pertaining to the UK. I was making a broader statement. I don't live in the UK so I don't frame my politics around the controlling government in power there. However, if the UK was willing to switch to this more socialist model, the Conservatives would likely not be in power. The big problem for the UK left is that their voting system is first past the post and yet they are fractured into multiple political parties while the UK right consolidates with the Conservatives as conservatives always do.
@Bushflare 2 жыл бұрын
@@GageEakins Blaming the voting system is a cheap cope. In order to fix the problems systemic through western governments a change in voting system just doesn’t cover the bases. You trade out one set of problems for another set. We’re probably at least a decade off from the philosophical resurgence we’ll need across the west to counter the current moral, civilisational, and structural crises.
@jounik 2 жыл бұрын
@@Bushflare Bailing out _foreign-owned_ companies should come with assuming partial ownership and control, though.
@grahamleiper1538 2 жыл бұрын
You'll be pushing for public ownership of water supplies next. 😁
@allyourcode 2 жыл бұрын
The whole sale energy price map with mixed currencies is pretty user-hostile. Pick a unit, and use it consistently!
@shyft09 2 жыл бұрын
I hadn't even noticed until you mentioned it, so UK is about €180
@CERO12345 2 жыл бұрын
I did not expect intentional data misleading from TLDR. trying to cover how bad the situation really is. 155£ to 149€ looks okish compared to 180€ to 149€. That's The Sun tactics. Outrageous
@nahimiYT 2 жыл бұрын
@@CERO12345 They showed it was 180 euros... what more do you want?
@danellis-jones1591 2 жыл бұрын
I think "user-hostile" is a bit much. And they acknowledged the figures were £ and €
@cazza09 2 жыл бұрын
They literally mention it at 5:51 Besides it's not their graphic. It actually says says on the graphic that it's by epexspot. Weird, criticising something that gets clarified in the same part of the video 🤷🏻♂️
@tx5190 2 жыл бұрын
The UK had planned to build 5 new power stations - but a few years ago cancelled 4. The one being built is at Hinckley Point in Somerset and, I understand, is jointly owned by the French and Chinese. So this is will produce around 20% of the extra capacity forecast that the country requires as new buildings and the push towards electric vehicles gather pace. As for wind. I'm trying to do outdoor projects and been thwarted by the constant wind which seems virtually nonstop since July. Lot of hot air coming out of Westminster though.
@niweshlekhak9646 2 жыл бұрын
It's not about electric vehicles for UK, what we need is a good public transport. Than we can think about electric vehicles, which as of right are producing more carbon emission than gas.
@Kyanzes 2 жыл бұрын
Build nuclear power plants! People often mention Chernobyl and Fukushima. The latter happened in an area where earthquakes are rampant and a particularly huge one plus some lack of caution resulted in a disaster. As for Chernobyl: they deliberately turned off safety measures to conduct tests. The Soviet system worked just fine. Build nuclear power plants!
@andreisuvorkov2023 2 жыл бұрын
Ok we build nuclear plant on your backyard
@NuclearRobotHamster 2 жыл бұрын
Suppliers: "We Can't make a profit right now" The people: "Well, maybe you should've planned for some risk and have a cash reserve. A rainy day fund if you will"
@lmul1441 2 жыл бұрын
Also because the heads keep giving themselves a rise
@JerzyFeliksKlein 2 жыл бұрын
Unfortunately that's rubbish. Because of the cap the energy business is barely profitable, the margin they, or I could say we make is a joke. If the system is not reformed we will end up with half a dozen companies who can make some small profit due to scale. The argument of "should've planned for some risk and have a cash reserve. A rainy day fund if you will" Is nonsense because there simply was nothing to save to begin with.
@RossDay7 2 жыл бұрын
They just planned for windy days...
@2036scott 2 жыл бұрын
@@RossDay7 i see what you did there..
@ceblsclinic5613 2 жыл бұрын
@@JerzyFeliksKlein Great. Can we be informed of the pay packets of the executives then please? I assume they are getting Universal Credits to top up their low pay! Figures please rather than wishy washy statements!
@VCT136 2 жыл бұрын
"collapse and market consolidation" seems to be the UK conservatives' speciality
@Ro_Gaming 2 жыл бұрын
*we plan to cut all homeless people in half by 2025*
@NamaDoodoo 2 жыл бұрын
“Oh no, look how much the NHS is struggling. We’ll have to sell it off to private companies”
@2plus3is4 2 жыл бұрын
@@Ro_Gaming like into two body parts?
@wolfiestreet6899 2 жыл бұрын
Because the opposition is sooooo virtuous....
@NamaDoodoo 2 жыл бұрын
@@wolfiestreet6899 lol no substance, just noise
@boboutelama5748 2 жыл бұрын
Okay. Cars are getting more expensive, consumer electronics are getting more expensive, fuel is gentting more expensive, food is getting more expensive, energy is getting more expensive.... ...can we not agree that we entered a hyperinflation spiral ?
@adamabele785 2 жыл бұрын
There is only one solution for the government: delay winter this year into spring next year. It is much easier to cope with winter, when it is warmer outside.
@pigmingus1363 2 жыл бұрын
Exactly, but you don't hear the mainstream media fielding that idea do you?
@adamabele785 2 жыл бұрын
@@pigmingus1363 We need creative solutions. Dare to think outside the tracks and Brexit has allowed to get rid of the EU rules and regulations. When New Zealand has its winter in July, nobody can stop the UK from doing the same.
@Spirit451 2 жыл бұрын
No food, no beer, no energy. This is going to be the shitist Christmas ever for UK, excluding NI.
@emilymcplugger 2 жыл бұрын
The British Government: we need to scrap the NI protocol so we can bring Northern Ireland in line with the rest of the UK. NI: F#* k off! The British Government. Making Irish unification look sensible and desirable.
@jackwilson5542 2 жыл бұрын
It is going to shit everywhere. Once again central bankers screwed us and caused worldwide stagflation. (All that just to keep price of stocks artificially high for billionaire class to get richer)
@michaelanderluh6372 2 жыл бұрын
if the UK lasts for 10 more years intact I will be surprised
@archvaldor 2 жыл бұрын
@@emilymcplugger The strange thing is if Jeremy Corbyn had done this they would have accused him of betraying NI and letting the IRA win, and they would have a point-NI is economically part of the Republic now, and economics is all that matters in a capitalist state. Because its the Tories doing this...crickets.
@missasinenomine 2 жыл бұрын
We can always go ice skating on the living room floor.
@adam346 2 жыл бұрын
Nuclear needs to make a come-back as a backup power-source. I know people are not crazy about the idea but it's one of the few that has made major strides in the past decades but has not been utilized.
@missasinenomine 2 жыл бұрын
Do you subsidise Super Glue? The anti-nukies will all be stuck to the M25.
@adam346 2 жыл бұрын
@@missasinenomine I don't know if there is such a disdain for nuclear power as there once was. If you take all the total disasters like Japan and Ukraine into consideration and then weighed it against the amount of coal that would have needed to be burned to off-set it... you would still come out ahead by massive margins in terms of environmental impact...
@missasinenomine 2 жыл бұрын
@@adam346 Disdain? Fear more like. Basically I agree with you. I've always been pro-Nuclear ever since I learnt about it in physics back in 1971. Coal is sheer madness. Terrible pollution & slag heaps all over the place. The Industrial revolution & coal burning fireplaces were an environmental catastrophe. But...............nuclear has waste. What to do with it? Send it to Mars?
@adam346 2 жыл бұрын
@@missasinenomine yeah... that is really the only major draw-back.. no one wants a nuclear toilet in their back-yard. Every time they come close to finding a suitable location that area typically throws up a political shield-wall.
@missasinenomine 2 жыл бұрын
@@adam346 It's called, in the vernacular, NIMBY. Not In MY Back Yard. Everyone wants to have heat & electricity in their home. But nobody wants their children to suffer from leukaemia. It's the same with Oil. We all want fuel in our cars. But not a honking great pipeline bisecting an area of outstanding natural beauty. Again, can't have your cake & eat it.
@pickled51 2 жыл бұрын
Here in the US, we are being lectured that using renewable energy sources is bad because wind and solar are unreliable to provide consistent energy output. The UK just proved (via wind) that it's true. We also got a taste of that this past winter when wind turbines froze up in Texas. But the main issue in Texas was that energy providers never spent the necessary funds to insulate the power plants and gas lines to work in below freezing temperatures.
@freshname 2 жыл бұрын
That was summer. It's always low in summer. Nothing new here. It's more about dramatic drop in gas supply and not being able to get energy from European grid
@Stigsens1 2 жыл бұрын
Sorry, but it just show how little you know about renewable energy and the systems needed. Sure if you just kick down coal fired turbines, and replaced them with windturbines, only countries with little understanding do tham. Denmark is world leader in energy grid, and we dont just rely on one or even two sourses. So let me hear your solution, beside destroying the planet for your children, or maybe you dont like your kids.
@pigman-nl7fg 2 жыл бұрын
@@Stigsens1 nuclear, its actually safer than renewable (less deaths caused) it creates less waste (no need for batteries.) And the stories you hear about nuclear disasters like Chernobyl or Fukushima were caused by the plants being old and mismanaged.
@Stigsens1 2 жыл бұрын
@@pigman-nl7fg i lived near Chernobyl for 4 years, sure it was a shitty construction, but Fukushima was not bad unit, bad located maybe, but call me when you have solved the waste problem, untill then, you can sponsor some of the hospitals that are starving of money to care for disabled kids in Ukraine from Chernobyl!
@pickled51 2 жыл бұрын
@@Stigsens1 The only so called renewable power source that comes to mind that can give a steady stream of power is nuclear. However, I don't like nuclear because the radioactive waste product has to be stored underground for years. I am sure Denmark (and probably Sweden and Norway) does a remarkable job providing safe, clean energy (both renewable and steady stream) because the colder winter climates in those countries require that your home heating requirements be constant. I am also sure that the powers that be who run the power sources in Denmark are not influenced as in the US by profits. The Nordic countries main objective is that everyone has adequate power, regardless of source, to be comfortable in their homes.
@vjrei 2 жыл бұрын
The problem are not the resources... the problem is that there are more people... and more people hooked up to computers and "mining". So more people consuming way more everywhere.
@jakubkundzik3367 2 жыл бұрын
Doesn't LNG stand for LIQUIFIED Natural Gas?
@jadoei13 2 жыл бұрын
Yes, because international transport is often done per ship and you don't want to transport natural gas in gas form. They liquefy it to greatly increase density, making transport possible.
@KevinInPhoenix 2 жыл бұрын
The UK might want to rethink their energy policy when people start freezing to death this Winter from either lack of energy or being unable to afford it.
@RJCain 2 жыл бұрын
You say this, but the Tory governments have let old ladies freeze in their homes before, and all that long ago. Edit: oh, and were more than willingly to let us die of covid.
@churblefurbles 2 жыл бұрын
@@RJCain Socialist governments freeze and starve people aplenty across the globe as their policies are against economic reality. Left wing types saddled the sector with nonsense make work schemes like carbon credits and have obstructed what the french had decades ago, a completely independent nuclear grid which would have ended the complaints long ago, but the point was to leverage complaints for more green "schemes" of endless waste. The safety nannies turned your country into a prison so lets not bring up the rona, damaged the economy so now you have trouble affording solutions...who would have thought that to be the case!
@RJCain 2 жыл бұрын
@@churblefurbles "your country" So you're not here, and you're going to tell me that my country, whose handling was the most lax and hands off of any major country bar the US, has been like a prison? Johnson's entire tactic has been to say "don't be silly, and if you are silly, that's your own fault". And our economic and energy issues are because we rely on other countries to provide us fossil fuels, workers and goods, and we can't get any of those because Johnson campaigned to cut us off from the rest of the world, and did fuck all to prepare the country for it. The tories have been in power for over ten years. I like how we have a Conservative government and have done for well over ten years, but it's still the socialists' fault. Like how Texas was the fault of the socialist green deal. Take some responsibility man.
@Cthulhu013 2 жыл бұрын
@@RJCain It is the socialists that have poisoned your mind, you've been so willing to work with other countries you have lost what it means to be independent. You have forgotten the greatest tool of all, our innate imperialism. We once had the best Navy in the entire world backed by a trade system of equal force. We were a monster to be reckoned with. Now what are we? Weak. The entire world thinks it. They are laughing at us. We must find our strength once more and build a military campaign the likes of which has never been seen. The world will quiver beneath our boots, but it can't ever happen again unless the likes of you stop hiding behind your own shadow.
@monkieassasin 2 жыл бұрын
@@Cthulhu013 no one is laughing at you. This is how you get fascism. Strength above all else, despite the effects on others, is the reason for the greatest travesties and genocides in history.
@Ollie2220 2 жыл бұрын
LNG = Liquified natural gas, not “Light Natural Gas”, otherwise great video!
@art_means_artificial 2 жыл бұрын
who cares
@Ollie2220 2 жыл бұрын
@@art_means_artificial that’s true
@jirachi-wishmaker9242 2 жыл бұрын
CNG?
@nocare 2 жыл бұрын
@@art_means_artificial I care
@B3Band 2 жыл бұрын
Why would they close pubs to save energy? So instead of having 100 people all in one building using energy, they're gonna send them to their 100 homes to turn on all their appliances? wtf?
@nosguitar1 2 жыл бұрын
Some other commentaries have suggested that the government allowing Centrica to sell off the gas storage facilities for shareholder profits has also been a major contributor to this problem . The UK currently has the lowest storage capacity in Northern Europe. I would have expected TLDR to mention this if true .
@Tehquall 2 жыл бұрын
@Weird Report an interesting point you make there sir
@hattie_burns 2 жыл бұрын
Weird, they did mention this on their instagram
@juliantheapostate8295 2 жыл бұрын
@@HELLO7657 Yep. It's almost as if price fixing by governments doesn't work
@calvin3798 2 жыл бұрын
So back to using bicycle generators, but now with a battery storage system
@diegoevrard-broquet8050 2 жыл бұрын
Low tech magazine has written about this and it's not that efficient , you need to reduce demand ,insulate and change behaviours first
@Mondfischli 2 жыл бұрын
..fitness center power companies sounds like a business model nowadays 😆
@TheAllMightyGodofCod 2 жыл бұрын
No, you can use solar..... Oh... Wait.... You can't! Sorry about that UK!
@kenelder9615 2 жыл бұрын
@@diegoevrard-broquet8050 that was a joke, of course you can't power a modern country with human leg power
@Gundam-Fury Жыл бұрын
Less wind?? just put a Microphone infront of Johnson, that way you'll get all the hot air you'd ever need
@lemmyrichards9477 2 жыл бұрын
Wait until you see the standing charge price in April. 40p plus each day for electricity and 30p for gas. It is just sickening.
@Szergej33 2 жыл бұрын
Yet another perfect example, while vital public infrastructure and resource supplyshouldn't be run by private companies. These 'electricity companies' going bust have NOTHING to do with providing you with electricity, apart from installing the meter in your house. They take the profit when times are good, but they MUST be bailed out when times are bad, because the supply they are leeching on is essential. The power grid is always connected 24/7, 365, and is a really good example of a market where scarcity cannot be allowed to exist. Electricity needs to be produced at the same time as it is consumed, at the exactrate, otherwise the system goes out of operational parameters and you get rolling blackouts to prevent damage. Therefore this balancing is already done by National Grid, who dispatch production capacity as/when it is needed. The 'electricity companies' just do the financialisation of this process, buy and sell futures, contracts, and send you a bill each month for the electricity that would have got to you anyways on the existing infrastructure they are not even in charge of.
@Bushflare 2 жыл бұрын
So you want to nationalise the lower-plants?
@oscarkeevash7188 2 жыл бұрын
Yes
@LiamBarden 2 жыл бұрын
Cynical much?
@hippiehippiehippiehippie 2 жыл бұрын
Imagine if we had huge gas reserves beneath our feet haha
@vwjd77 2 жыл бұрын
We did but sold it all off. British government were clueless 20 years ago
@cheeseburger8336 2 жыл бұрын
Now wouldn't that be convenient
@hippiehippiehippiehippie 2 жыл бұрын
@@vwjd77 I'm on about the shale gas. Don't worry there's plenty more oil in the North Sea, just not allowed to get to it anymore
@hippiehippiehippiehippie 2 жыл бұрын
@@cheeseburger8336 I see you are a man of culture too
@pickle9607 2 жыл бұрын
Very informative thank you.
@SusannaSaunders 2 жыл бұрын
It's a good thing that TLDR runs purely on promos and clickbait rather than electricity!
@adamwestbrook1409 2 жыл бұрын
Does anyone remember when Boris said we were gonna be the Saudi Arabia of electricity a year or so ago, that aged well
@jimhay3894 2 жыл бұрын
I would suspect an independent Scotland would do quite well out of this. Not enough wind generation for the whole of Great Britain does not mean not enough wind generation for Scotland.
@mwnciboo 2 жыл бұрын
@@jimhay3894 No energy storage = No power for Scotland.....Electric Mountain is with us Welsh. So you stick you Nationalism back up your arse. It says UKGB&NI on my passport - Not the *Peoples Republic of Jockland* nor *Cymru-istan* or *Ulster-troubleshire* or *Anglo-Normanland*
@vincentpescus2827 2 жыл бұрын
@@mwnciboo Well that escalated quickly
@bobskobob276 2 жыл бұрын
When Boris is stupid enought to tie his hands with carbon zero bullshit that what u get
@SnowyNI 2 жыл бұрын
@@jimhay3894 Nah the free laptops would use all the elccy
@piccalillipit9211 2 жыл бұрын
*THE PROBLEM* is the UK used to pay the EU to hold the gas reserve for it. They left the EU and no longer have access to that gas reserve to buffer the price. The rest of the EU has 35.6 X the gas reserve per capita that the UK now has.
@mickeythompson9537 2 жыл бұрын
Is that like, when we left the golf club, we can't drink half-price at the bar..?
@tobiwan001 2 жыл бұрын
@@mickeythompson9537 BoJo will certainly blame the golf club for that and demand half prices while at the same time claiming he could drink cheaper in all other golf clubs in the world.
@adamdanilowicz4252 2 жыл бұрын
Yes, the UK closed like 70% of its natural gas storage capacity in 2017 due to the lack of short term profit for the private company who ran it.
@BrianJ1962 2 жыл бұрын
@@mickeythompson9537 More or less 😆
@scarletpimpernel6842 2 жыл бұрын
Fully agree Piccalilli Pit. TLDR seems to be a BBC sponsored propoganda channel, reverting to whataboutism facts about net global changes. The EU market is also nervous, but the UK market is much more leveraged because it is not part of the EU energy exchange market anymore. Note the that this Channel steps deftly around the effects of Brexit, a decision of Johnson to step outside the EU energy markets AND UK low storage capacity makes UK extra susceptible.
@davidmenham1782 2 жыл бұрын
Thanks. As thorough as usual.
@Pyrogolth 2 жыл бұрын
GREAT SUMMARY VERY INFORMATIVE
@hughevans2433 2 жыл бұрын
Seems like we just need to bite the bullet and build more renewable energy sources, more types of renewable energy and the infrastructure to move that power where it's needed.
@Ash-os1dz 2 жыл бұрын
Renewable energy is the problem. We need more reliable and cheaper energy sources like coal and nuclear.
@OnlyGrafting 2 жыл бұрын
We've been gradually shifting towards them for years now. So then why did we have to fire up the old coal burners?
@jadoei13 2 жыл бұрын
@@OnlyGrafting Because to rely on renewables you have to either have more capacity than needed on the average day, to make sure you have enough on worse days, or you have to store it. The UK clearly hasn't done enough of either so far, resulting in issues. Another thing that really helps is well connected, very large grid. If it is sunny in Spain, just get some electricity from there, if there is heaps of wind in the UK, just sell some power to Germany. Sadly that's something that's a lot more difficult now as explained in the video.
@Budjarn 2 жыл бұрын
@@Ash-os1dz Nuclear. Only nuclear. Not coal.
@Ash-os1dz 2 жыл бұрын
@@Budjarn No, whatever prevents our elderly and vulnerable from freezing to death in the winter will do. Even if that means coal.
@nialltracey2599 2 жыл бұрын
Two options...? I know the Tories will never renationalise, but it's still an option available to them that deserves a mention. Price caps are unworkable in private markets -- caps in nationalised utilities just go straight into the general budget.
@Nobody-Nowhere 2 жыл бұрын
All the essentials should be commonly owned, only excess should be left to markets. Its a huge risk to leave necessary infrastructures on the whims of markets.
@DestroyerJoni20 2 жыл бұрын
@@Nobody-Nowhere but then your just asking to hide the costs of electricity, not to mention the fact nationalised utility grids mean that we end up being exposed to strikes. And not only that but it investment and upkeep of the utilities is actually paid by these private businesses meaning that no tax payer money has to go into the system. The problem is that because of the way the UK government is, its blocked the free market from going where it wants to go. Neuclear. Granted there is nuclear waste at the end but its generally cleaner, lower maintenance and needs far less land then ever before to produce power for hundreds of thousands of houses thanks to massive developments in the field recently. renewable tech just isn't there yet and is very counter intuatuitive in a lot of places. Again these high prices are a strong indicator to these utility companies that they would need to produce more power as there is clearly a demand for it, something that every single government hasn't been able to do properly because nationalised systems don't use prices and without prices you cant do basic calculations.
@markdougherty8203 2 жыл бұрын
@@DestroyerJoni20 There are very few companies left worldwide interested in building nuclear power stations. Hitachi, E.ON, Toshiba, Horizon, EDF, CGN, etc. in different constellations have played pass-the-parcel with various nuclear power plant projects in the UK. Only EDF and CGN are left and both are state-owned by France and China respectively. CGN is rumoured to be pulling out and if they don't, they will probably get pushed out anyway because of new security concerns over China. So your free market vision of nuclear power generation will soon consist of a state-owned supplier with a monopoly that is running 10 years behind schedule on a build in France and a minimum of 5 years behind on a build in the UK. Well, actually that's not quite true because the Franch also have AREVA (also state owned) which is years behind schedule on a new build in Finland. Siemens was involved in that project but threw in the towel and exited the nuclear industry. So it's basically only the French that you can buy a nuclear power station from and the chances of it being ready on time and to budget don't seem high.
@bristoled93 2 жыл бұрын
@@DestroyerJoni20 What has strikes got to do with nationalization?
@fleetingfootnotes9133 2 жыл бұрын
Price caps are unworkable everywhere. A price cap means "if the costs rise, the price cannot reflect it". If an energy company has to make more costs than it can get out of its customers, it will collapse. Caps can only temporarily provide an illusion of stability. But it is a lie. Think of a water reservoir - take out more than you put in and it will run dry. No amount of number fudging will alter that. And you know, price caps are great for climate change deniers. Because price caps promote usage of fuels. Consumption. A.k.a. pollution. If a consumer cannot wantonly employ energy wherever desired, the consumer consumes less and is better for the environment. In fact, looking at the direction of climate change and knowing that the Brits have traditionally done a great deal to make the situation worse, it is about high time they start learning to do things with less energy.
@lewis123417 2 жыл бұрын
I'm a conservative but wouldn't be opposed to nationalising the energy and water companies. Just because we're Conservative doesn't mean we have to follow americas approach to markets of huge national strategic importance. Wales has a nationalised water market and it works just fine. The private firms will not invest in major infrastructure or maintenance so why should the taxpayer pay for the infrastructure and give away the profit?
@Karthagast 2 жыл бұрын
So let's say you are a conservative leaning comunist, aren't you?
@lupolinar 2 жыл бұрын
@Magerit Ah, yes - the comunism bullshit bomb. Do you even know what comunism means? I give you a hint: it has nothing to do with what the OC said.
@matthewmcmullan9669 2 жыл бұрын
I'm intrigued if we'll still have the same attitude to the big ev drive after this or if we'll realise we're not ready yet
@NHCVMohammedNawaz 2 жыл бұрын
Reality of today's capitalism : Government- "Private sector will save the economy". Private sector- "government will bail us out and save the economy".
@seneca983 2 жыл бұрын
Though to be fair, the companies are going bankrupt because the government restricts how much they're allowed to charge for electricity.
@NHCVMohammedNawaz 2 жыл бұрын
@@seneca983 Well if the government doesn't regulate the prices in the current situations the prices will go sky high and the electricity will be unaffordable to most of the population (which would be catastrophic in this severe winters).. Just look at Texas.. No regulations and the people of middle class suffered in the previous winter. Several people died of the cold while the Republican Senator of the state just fled away in his private jet. So currently it's either the companies or the people in UK and it is the bad Tory policies of the last 10 years which have bought the nation to this present conditions.
@seneca983 2 жыл бұрын
@@NHCVMohammedNawaz But the scarcity is real. If it's not reflected in consumer prices then consumers aren't incentivized to cut back on usage during scarcity. If you want a consumer price cap the high price still has to be paid some other way like a taxpayer funded bailout to utilities. The situation where bailouts might be needed is a direct result of the price cap; there's no easy way around that even if you consider it to be worth it. "Just look at Texas." I don't think it's a relevant example for a consumer price cap. Electricity was unavailable for a while at any cost. A consumer price cap would not help with that.
@seneca983 2 жыл бұрын
@hognoxious Here the government forcibly privatized the losses through the price cap.
@KC-nb3mm 2 жыл бұрын
@@seneca983 It's frustrating how people think socialism is the solution to everything.
@Thunkedmypants 2 жыл бұрын
If only there was a technology we could have to generate all the power we need from kilograms of fuel all the time, any time we needed it, that would work with existing infrastructure, wouldn't take up much space, with no greenhouse gases and no reliance on untrustworthy regimes...
@Inaf1987 2 жыл бұрын
The loud and obnoxious anti nuclear idiots have just as much blood on their hands as the climate change deniers
@NickFallon88 2 жыл бұрын
@@Inaf1987 but nuclear doesn't make CO2
@ipadair7345 2 жыл бұрын
@@NickFallon88 please look at the comment again, specifically at the part 'anti'
@LibertyToTravel 2 жыл бұрын
Exactly my thoughts!
@GaryFerrao 2 жыл бұрын
just don't use that much energy? the price cap was a good thing to prevent predation. but it is long due to be revised. and also in a way that ensures some form of rationing up to some kWh for the common folk to have at least a light bulb on.
@wytzevanderveer6351 2 жыл бұрын
Dunno if you understand how electricity works, but you can't "ration" it like physical materials. Its use it or lose it, and it might as well be used otherwise its wasted
@GaryFerrao 2 жыл бұрын
@@wytzevanderveer6351 sorry for my fast language. by ration i mean ration the rates. people pay the existing rates up to some kWh, for example 10 kWh per person per month, and anything above that could be charged at open market rates.
@GaryFerrao 2 жыл бұрын
in other words, remove the price cap after some "rationed" amount e.g. 10 kWh.
@trungson6604 2 жыл бұрын
Great idea, Gary. An economy cannot afford to stray too far away from market forces, or rampant shortages will result, as seen during the central-commanded economy of the Soviet Union.
@demonhighwayman9403 2 жыл бұрын
Why can't the government nationalise the power supply ? Let the government absorb the current high prices.
@kapytanhook 2 жыл бұрын
Its all the same, coming out of your pocket. except the government runs things even less efficiently. there should not be a cap so users pay the true price and the truly cheapest parties will win out in the end, not the ones that have friends in politics and are too big to fail.
@electraelpindrai1964 2 жыл бұрын
A larger interconnect to the Orkney islands sounds pretty good right about now, or just connecting it to the grid
@tommydplayskeys 2 жыл бұрын
Indeed
@steroid2357 2 жыл бұрын
we need nuclear power plants all over the scottish highlands.
@missasinenomine 2 жыл бұрын
@@steroid2357 They've only recently closed down Dounreay. Don't say that!
@ricardosilva4940 2 жыл бұрын
@@steroid2357 nuclear power stations, takes decades to be build....
@HootMaRoot 2 жыл бұрын
For there and the Western Isles, they had the chance recently to upgrade the power line to there as the old one broke but the only replaced it like for like, stopping all of the wind turbines pushing everything they can produce onto mainland UK. As very little of the potential electricity it actually put into the grid And if the islands round Scotland produce electricity the mainland will have to start paying the distance fee that the islands have to pay extra on top of electricity bills
@franckherrmannsen7903 2 жыл бұрын
besides of the unjust blaming of the Russians, by leaving the common marked, the UK left also the common EU gridmarked and guess what? no preparations done for this situation.... when implementing the customservices for EU imports the prices will rise even more....
@MyWasteOfTime 2 жыл бұрын
So bottom line, they shouldn't have closed all of those coal plants just yet...
@user-zh9kc7tw4n 2 жыл бұрын
Replacing reliable sources of energy with wind power may seem as a good idea until the wind does not blow much as the cost of having other alternatives which have to switch off when it is windy makes little economic sense..
@althegamer6606 2 жыл бұрын
you have other forms of enegry like wave enegry and magnetic energy
@ragerancher 2 жыл бұрын
"A lack of wind and gas" Go to 10 Downing Street, no shortage of either there...
@FrozenDung 2 жыл бұрын
Boris man bad!!!!!!
@ragerancher 2 жыл бұрын
@@FrozenDung ah yes, the brainless reply from someone who can't actually defend him. You realise everything this guy has touched he has left in a worse state than he found it? That he has twice got in trouble for lying? Can you actually list positives about him or his achievements?
@falconeshield 2 жыл бұрын
@@ragerancher He makes Theresa May look like a good PM?
@Peter-ud9bx 2 жыл бұрын
Excellent work once again! Great to have clear, unbiased summaries of controversial topics in the news.
@japfourme381 2 жыл бұрын
And Boris wants us all to buy electric vehicles? He’s off his rocker!!
@stiegelzeine2186 2 жыл бұрын
Having high prices for electricity is better than having no fuel
@jamesmiller9363 2 жыл бұрын
@@stiegelzeine2186 coming from a tory lapdog I suppose?
@neshirst-ashuach1881 2 жыл бұрын
Doesnt the UK also have massive petrol shortages? It seems like the problem isnt the power source but the ineptitude of the British government.
@jamesmiller9363 2 жыл бұрын
@@neshirst-ashuach1881 that's exactly what's going on. Due to the uk stuck in brexit fantasy along with its supporters.
@heatherjoy479 2 жыл бұрын
No one can afford elerctick cars now
@welshtony1 2 жыл бұрын
Wow what a great explanation to the whole situation. I wish the Government still did the grants for solar panels, yes I know here in the UK we don't get allot of sun but if we had more homes with solar then the need to import electric would in theory be less needed.
@iareid8255 2 жыл бұрын
Tony, no solar is rubbish in the U.K, produces almost zero in winter when we need it most. Part time power is not an answer.
@iareid8255 2 жыл бұрын
Tony, PS, we don't 'need' to import electricity, it's just expedient.
@anytimeanywhere7859 2 жыл бұрын
This year, if people say "Winter is coming" it is another way of saying "Soon, the elderly will die in droves"?
@sam3ee 2 жыл бұрын
I mean that's generally always been a thing, but yeahhhhhh
@BinkyTheGoddessDivine 2 жыл бұрын
🎵 It's beginning to look a lot like Christmas.... 🎵
@Zeetana1 2 жыл бұрын
Here in Norway the electricity bill has gone up A LOT. We have way enough electricity for ourselves, but they sell it out and we get higher bills. And at the same time newer houses are built without the chance of burning wood, and we own more electric cars than ever. Oh, and gas prices are up too. Yey...
@giacomorotondi7251 2 жыл бұрын
my name is Giovanni Giorgio but everybody's running out of Giorgio
@FatRonaldo1 2 жыл бұрын
There is never a lack of wind and gas in my house because my brother constantly walks around at all hours farting like a trumpet
@user-pf7cw5wr4y 2 жыл бұрын
Loooool
@kossttamojaan 2 жыл бұрын
🥂
@Pananananananananify 2 жыл бұрын
I read that there is max volume that Gazprom delivers per year. So when prices started to rise, Europe started to fill the gas tanks. And now they are just fulfilling the contract. Makes sense, why would they sell even more gas at the old lower prices?
@Keln02 2 жыл бұрын
Russia uses gas as a softpower weapon. M. Putin is heavily reliant on the gas price to enact his policies and rake in the state funds
@martinwarner1178 Жыл бұрын
TLDR News...my fave. Peace be unto you.
@KarlTykke 2 жыл бұрын
The fundamental issue ignored here is the need for energy supplies to reflect availability.
@pseudonayme7717 2 жыл бұрын
What we really need, is to remove the middle men getting rich for doing nothing. These companies are going bust because they stand in the way of nationalised power by making profit for doing NOTHING. Remove the middle men, nationalise the power grid. It worked for decades, we need to revert to that in order to reduce this kind of market volatility.
@KarlTykke 2 жыл бұрын
@@pseudonayme7717 NO. If you have an energy shortage what is needed is more energy. The ownership of the energy producing institution is not the solution for this problem. The UK imports a significant fraction of its energy from other countries. How do you propose to nationalize those suppliers?
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