Finance thread 2022.

[cstand]

This is the President of the European Central Bank.

Inflation came from nowhere ?

 

Edited October 30, 2022 by cstand

[cstand]

https://trial.wilkinsonsword.com/hydro/
 

Sign up to email get hydro razor for £1

Edited October 31, 2022 by cstand

[RoyMac5]

On 22/08/2022 at 10:16, Unlucky Alf said:

Ah another ploy to convince us all to have a Smart meter installed...nope not convinced ?

And here is another reason to not have a smart meter:

"Rise in energy firms remotely switching homes to prepay meters"

"A rising number of households are having their energy smart meters remotely switched to prepayment meters, the energy regulator has said.

Energy firms use the technology to swap customers who are in debt to the more costly plan without needing a warrant.

Ofgem said it had received reports of "vulnerable customers being left without power for days or even weeks".

Kelly, from South London, whose meter was switched, said: "I suddenly only had £3 on my electric until payday."

Once a smart meter is installed, it is a much simpler process for a supplier to swap the customer into prepay mode at the push of a button, rather than having to apply for a warrant and install a physical box.

Switches can either be done at the request of customers or done by the supplier as part of a debt recovery process..."

[Tamworthram]

1 hour ago, RoyMac5 said:

And here is another reason to not have a smart meter:

"Rise in energy firms remotely switching homes to prepay meters"

"A rising number of households are having their energy smart meters remotely switched to prepayment meters, the energy regulator has said.

Energy firms use the technology to swap customers who are in debt to the more costly plan without needing a warrant.

Ofgem said it had received reports of "vulnerable customers being left without power for days or even weeks".

Kelly, from South London, whose meter was switched, said: "I suddenly only had £3 on my electric until payday."

Once a smart meter is installed, it is a much simpler process for a supplier to swap the customer into prepay mode at the push of a button, rather than having to apply for a warrant and install a physical box.

Switches can either be done at the request of customers or done by the supplier as part of a debt recovery process..."

It does sound like something to be wary of but the article is a little light on details. For example, the remote switch sounds like it just makes the process quicker and easier. How many of the unfortunate people that have had to switch would have been switched anyway by either agreeing or the energy company obtaining a warrant? How much notice were these people given before the switch was made?

There is often two sides to every story and in the example given, the energy company claim “ a switch to a prepayment meter was "a last resort" after extensive attempts to discuss support and agree a resolution with the customer”.

Having said that, my energy company keep badgering me to switch (even claiming I agreed to as part of our current plan which is blatantly not true and I have told them this) but I haven’t yet. I’m lucky enough to not be faced with the above scenario but there is still something I can’t really put my finger on that is causing me to hesitate.

Edited November 9, 2022 by Tamworthram

[Ram-Alf]

1 hour ago, Tamworthram said:

 

Having said that, my energy company keep badgering me to switch (even claiming I agreed to as part of our current plan which is blatantly not true and I have told them this) but I haven’t yet. I’m lucky enough to not be faced with the above scenario but there is still something I can’t really put my finger on that is causing me to hesitate.

Similar scenario to me, On my BG account they keep harping on about the ease for which meter readings can be taken and how much you use, All I have to do atm is walk a few yards outside to my meter read it and send reading via my computer, I'm £350 in credit and on a variable rate, From my previous bills I can work out how much I've used...if I could be ar$ed.

I'm on an economy 7 and have been told by a BG service engineer that BG can't do a double read of normal/economy readings on a Smart Meter, So for that reason I'm ooot!

[Stive Pesley]

33 minutes ago, Unlucky Alf said:

I'm on an economy 7 and have been told by a BG service engineer that BG can't do a double read of normal/economy readings on a Smart Meter, So for that reason I'm ooot!

My parents are still on an Economy 7 meter, and refuse to change to a smart meter for the same reason (although I note some suppliers do claim that they have Eco7 smart meters available, but I'm sceptical)

How come Economy 7 stopped being a thing anyway? It made total sense to encourage people to run washing machines, dishwashers, immersion heaters etc overnight when the demand on the grid was lower. 

[i-Ram]

5 minutes ago, Stive Pesley said:

How come Economy 7 stopped being a thing anyway? It made total sense to encourage people to run washing machines, dishwashers, immersion heaters etc overnight when the demand on the grid was lower. 

Happened during the last Labour administration. Home Affairs Minister Diane Abbott argued passionately in Parliament that it was not fair that electric should run all day, and then be expected to keep going through the night as well. 
 

[Ram-Alf]

16 minutes ago, Stive Pesley said:

My parents are still on an Economy 7 meter, and refuse to change to a smart meter for the same reason (although I note some suppliers do claim that they have Eco7 smart meters available, but I'm sceptical)

How come Economy 7 stopped being a thing anyway? It made total sense to encourage people to run washing machines, dishwashers, immersion heaters etc overnight when the demand on the grid was lower. 

Yes I've read this also, But once fitted...your in for the long haul whether they work or not, As Tamworth said Utility companies will use methods either underhand or otherwise to get one fitted in your property.

On the Martin Lewis website I've read where some who've had them fitted are not getting the right readings or being over charged, Then there's others who've said they're OK ?‍♀️

[Crewton]

Sunday Times Personal Finance section runs regular articles on Smart Meters and nothing I've read encourages me to get one, given that the number of problems doesn't seem to have reduced over years since their introduction. 

[Wolfie]

One thing having the smart meter has taught me is that in the first half of this year it was costing us £100 a month to have the hot tub on, according to the British Gas App. And that's before the more recent price-hike(s)

That's why it's been turned off since September and won't be on again for the foreseeable.

[Anag Ram]

2 hours ago, Wolfie said:

One thing having the smart meter has taught me is that in the first half of this year it was costing us £100 a month to have the hot tub on, according to the British Gas App. And that's before the more recent price-hike(s)

That's why it's been turned off since September and won't be on again for the foreseeable.

Shame. I enjoy the hot tub.

[GboroRam]

On 09/11/2022 at 12:24, i-Ram said:

Happened during the last Labour administration. Home Affairs Minister Diane Abbott argued passionately in Parliament that it was not fair that electric should run all day, and then be expected to keep going through the night as well. 
 

I thought it was Priti Patel, who announced she'd masterminded the installation of three hundred thousand and thirty four, nine hundred and seventy four thousand meters in the UK. 

[i-Ram]

2 minutes ago, GboroRam said:

I thought it was Priti Patel, who announced she'd masterminded the installation of three hundred thousand and thirty four, nine hundred and seventy four thousand meters in the UK. 

Liz Truss would have got more installed. It’s all about growth, innit. ?

[Rev]

6 hours ago, Wolfie said:

One thing having the smart meter has taught me is that in the first half of this year it was costing us £100 a month to have the hot tub on, according to the British Gas App. And that's before the more recent price-hike(s)

That's why it's been turned off since September and won't be on again for the foreseeable.

How do you attract the swingers now, with no hot tub on offer?

[PistoldPete]

38 minutes ago, Rev said:

How do you attract the swingers now, with no hot tub on offer?

Pampas Grass. Apparently. 

[cstand]

Spend £2 on national lottery get cinema tickets drinks and snacks for 23/12/22
https://www.national-lottery.co.uk/life-changing/christmas/love-actually-cinema?cid=eml:mb:btn:p1:lc:tnl:ci:cinema_221204

Edited December 5, 2022 by cstand

[RoyMac5]

 

[RoyMac5]

 

[ariotofmyown]

Anyone really understand why interest rates are going up again? Is it really going to do anything for inflation? Won't demand just collapse after Christmas and we'll end up in a long recession, probably resulting in interest rates coming back down again but with loads of people losing their jobs snd businesses?

[sage]

9 minutes ago, ariotofmyown said:

Anyone really understand why interest rates are going up again? Is it really going to do anything for inflation? Won't demand just collapse after Christmas and we'll end up in a long recession, probably resulting in interest rates coming back down again but with loads of people losing their jobs snd businesses?

Agreed. This time inflation has nothing to do with an overheating economy. They are doing this to be seen as doing something to calm city bods down,