February 9, 20233 yr Author >>> average wholesale price they pay is around 5p/kWh OK, well I guess it's about time I started my electricity markets education... https://www.ofgem.gov.uk/energy-data-and-research/data-portal/wholesale-market-indicators These do seem to suggest 3-5p per kWh. So, why are we being charged anywhere between 15-43p? The fuel markets seem to have only a 50% markup? https://www.racfoundation.org/data/wholesale-fuel-prices-v-pump-prices-data
February 9, 20233 yr 2 hours ago, PhilT said: you mean the power supply companies rather than the DNO. The latest average wholesale price they pay is around 5p/kWh so there is no incentive for them to pay us more than that. It's a bit like saying the supermarkets should sell us food at the same price they buy it 1 hour ago, Alan Ambrose said: >>> average wholesale price they pay is around 5p/kWh OK, well I guess it's about time I started my electricity markets education... https://www.ofgem.gov.uk/energy-data-and-research/data-portal/wholesale-market-indicators These do seem to suggest 3-5p per kWh. So, why are we being charged anywhere between 15-43p? The fuel markets seem to have only a 50% markup? https://www.racfoundation.org/data/wholesale-fuel-prices-v-pump-prices-data Is it? I thought it was around 15p/kWh? https://www.energy-stats.uk/wholesale-energy-pricing/ https://www.epexspot.com/en/market-data?market_area=GB&trading_date=2023-02-09&delivery_date=2023-02-10&underlying_year=&modality=Auction&sub_modality=DayAhead&product=30&data_mode=table&period=
February 9, 20233 yr Author >>> I thought it was around 15p/kWh? Yeah, I think you're right. BTW the Octopus Agile pricing suggests a 120% markup.
February 9, 20233 yr I think just looking at the wholesale price is a bit misleading. I think it excludes taxations/charges/delivery. Bit like me buying a bread roll for 12p and selling it on for £1. I have to pay VAT on the whole selling price (bread is VAT except, so can't claim it back), I have to do quite a bit of traceability paperwork, and the big one, it is not unusual to throw 3 rolls away for every one I sell. So that bread roll actually costs me 48p, add to that 20p VAT, 68p, and say 10p admin, that is 78p, 22p is profit, of which I have to take out staff wages, marketing, general business costs etc. Can see why nearly all the local bakers have stopped making them now. Edited February 9, 20233 yr by SteamyTea
February 10, 20233 yr Yes solar panels heat up a bit more when they are off. If we assume a solar panel is 20% efficient for every 100W of solar energy recieved upto 20W can be converted to electricity. Of the remaining 80% some is reflected and the rest is absorbed raising the temperature until enough is emitted as heat. The law of conservation of energy means if that 20%/20W isn't removed by the inverter it must escape another way. The reflectivity doesn't increase so the temperature of the panel will increase a bit more until it is radaiting and conducting the extra 20%/20W away.
February 10, 20233 yr Author >>> The law of conservation of energy A very clear explanation, thanks. And I thought that 'conservation of energy' was something to do with lying on the sofa and being too lazy to get the remote. I should have paid more attention in school.
February 10, 20233 yr 5 hours ago, Alan Ambrose said: And I thought that 'conservation of energy' was something to do with lying on the sofa and being too lazy to get the remote. I should have paid more attention in school. For that there is also Einstein's idea that energy and mass are equivalent. Eat too much energy and you gain mass. 🙂
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