UK energy prices and Rolex demand...

[Lewi777]

Being on a fixed rate energy tarrif for the last year, the UK energy crisis has largely passed me by, but now I'm coming off that fix I've been offered a renewal. The cheapest new fixed rate for our circa £5k ($7k) energy bill is now £16K ($22K) a year. That's a Rolex a year for the next couple of years at least.

I've been dismissing talk on here of this causing any dent in UK demand, but I do now wonder if this, combined with inflation accross the board might actually be more significant that I'd realised and may very well dampen demand, at least in the short term. I hadn't realised how much energy was going up; a 200+% rise is probably going to cause some here in the UK at least to review that Rolex purchase.

We live in an old, inefficient house with a gas AGA of all things, so we're probably about as bad as it gets in the UK for energy ratings, but I'm thinking of all those big old independent schools that are going to get enormous energy bills, which may very well have to be passed on to those middle-class Rolex buying parents. Pressure is definitely coming to pockets here in the UK and we're told Russia is about to invade the Ukraine - where all the gas flows through to the EU.

Interesting times ...