Given that
1) Electricity price is set by gas almost all the time in the UK
2) The price of electricity varies a lot during any given day.
Does that imply that the price of gas must vary similarly during each day?
AFAICT gas prices do not change much during a day. Help!
Ian Fotheringham retweeted
Wind curtailment and gas turn-up costs in 2025 are up ~50% compared to this time last year
Ian Fotheringham retweeted
An Iranian man left this comment on my YouTube channel. It's the single best explanation I've ever heard on the future of #Iran 👇
As an Iranian, I can tell you the situation is no longer just political—it's existential. We are trapped between two collapsing structures: one internal, one external. On one hand, we face a deeply dysfunctional government, led by the Supreme Leader and the Islamic Republic’s unelected institutions.
Decades of economic mismanagement, suppression of dissent, and brutal ideological control have alienated multiple generations. No one believes in reform anymore—because every attempt has either been co-opted or crushed.
But here's the paradox: We are also terrified of regime collapse—because we've watched the aftermath of Western intervention in countries like Iraq, Libya, Syria, and Afghanistan.
Each was promised freedom; each descended into chaos, civil war, or foreign occupation. So no, we don't trust the U.S. or Israel. Not because we support our regime—but because we know how imperial powers treat ‘liberated’ nations in the Middle East.
Freedom, in their language, often means vacuum, fire, and permanent instability. Right now, many Iranians live with three truths at once: The Islamic Republic is morally and politically bankrupt. The alternatives offered by foreign actors are not liberation—they’re collapse. A bad government is survivable. No government is not. We are not silent because we agree.
We are cautious because we’ve learned—too well—what happens when superpowers decide to "help." In a sentence: Iran is a nation held hostage by its own regime, but haunted by the fate of its neighbors. We are stuck in a house we hate, surrounded by fires we fear more.
Thank you Donald, by declaring War on Iran, you have put anyone seen as a US ally at risk. Not least because you have made it very clear that you will not provide military support for anyone other than Israel.
You tore up the nuclear agreement with Iran, tore up NATO, what next
So I am not a fan of UK Net Zero.. The 80-20 rule will apply, 80% of the benefit will be from 20% of the money. The last 20% will be hideously expensive.
We do have to burn less stuff, and that likely means wind turbines and increasing energy bills.
A fair criticism is that I'm predicting an impending train wreck but not offering much other that a short list of problems with the current approach. For solutions you will have to look elsewhere.
So who do I have on my reading list? Heres one dieterhelm.co.uk/energy-clim…
dieterhelm.co.uk/publication…. Some history on energy pricing in the past. Some negative comments on the current path.
Gas setting the wholesale price of electricity most of the time in the UK does not explain the high cost of electricity in the UK.
I do not understand why the lie of blaming gas for the UKs high retail electricity cost persists.
Ian Fotheringham retweeted
The 80-year recipe stoking America’s Prosperity:
1) Free-market capital investments in brilliant ideas…
2) enabled by Engineering Innovations…
3) based on Science Research in Universities…
4) funded by Grants from the US Government.
It’s time more people understood this.
Ian Fotheringham retweeted
We've published new legislation to relax rules around permitted development for heat pumps. Changes will come into effect from 29 May and should make it easier for consumers to install a heat pump without a full planning application.
For more info visit: legislation.gov.uk/uksi/2025…
Charlie Munger is right.
How do we incentivise behaviour that benefits society as a whole. Selling off natural monopolies to private companies and installing a regulator hasn't worked.
"Why?" The question that we do not ask at anything more than a superficial level accepting the first answer than satisfies our biases, expectations or desires.
So why does the UK need its own steel industry? Its not for defence, not history, not efficiency, not profit.
Why?
Ian Fotheringham retweeted
I’m not the most politically correct person in the world, but the number of people who just throw out the R slur just bothers me. It’s traditionally been used to other anybody who doesn’t seem to fit some arbitrary standard of normalcy and to anybody who has a special needs person in their lives and sees the actual whole person instead of a perceived disability feels like such a cheap way to diminish and dismiss them. It’s not edgy or retro. It’s just ugly.








