Oh dear Eoin

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I have spoken before how oil prices have climbed 400% in the last ten years for UK customers. But I am struck by how little coal prices have increased.

You\’re using the wrong numbers laddie.

We in the UK don\’t in fact use oil to generate electricity. Well, a tiny bit, the very last tippy top of 1% of demand because oil fired stations can be spun up quickly.

But comparing the price of oil derived electricity to anything else is simply silly because we don\’t in fact have much oil derived electricity.

Gas versus coal is interesting, certainly, but then that find in Blackpool is going to rather change those relative prices in the near future……

10 comments on “Oh dear Eoin

  1. Even funnier is this line from the one comment he has let through moderation:

    “We need more investment in renewable technology too, but we are told this is going to add significantly to bills. And here am I thinking the wind blows for free. The sun shines for free. The tides move for free!”

  2. Uranium nuclei split for free

    And the ungrateful buggers continue to do it even if you’d rather they stopped.

  3. I’m not convinced that the shale gas find in Lancashire is going to significantly alter UK gas prices.

    Firstly, shale gas is relatively expensive to produce.

    Secondly, the UK is very well inter-connected with the global gas market. We have large pipelines to the Continental market and large LNG terminals connecting us to Qatar and other such places. Aundent locally produced gas might displace imports but if the price dips below prices on the Continent gas will flow out of the UK until the prices level.

    I don’t think the volumes found under Blackpool are large enough to significantly affect the world price for gas.

  4. I have spoken before (sic) how oil prices have climbed 400% in the last ten years for UK customers.

    1 to 4 on his graph. So 300% or 4-fold.

  5. He’s not far off about the oil prices, though.

    When I built my house (1991) central heating oil was 16p a litre.

    Now? More like 80p.

    And I think most of that rise has happened in the last three or four years, rather than the last ten.

    In the country, at least (ie off the gas grid), we’re back to old people having to choose between eating and heating.

  6. You need to shop around, Andrew. Here in North Dorset we’ve just had a quote of 53.3pp, based on a pool of just over 3,000 litres.

  7. Dan – shale gas is a big game changer. I understood that, in a relatively short period of time, the USA has gone from an importer of gas to an exporter of gas. Can’t find the figures but it was a big swing.

  8. Can we change some terminology, please? The gas find off the Fylde coast and coming into inland Lancashire, almost to West Yorkshire, cannot be defined by “about Blackpool”.

    The gas discovery is in the historical county of Lancashire, around the river Ribble.

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