Why Your Energy Bills Might Double: Britain's Energy Crisis Explained – TLDR News #AD

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Energy prices have been rising for a while now, but at the moment those increased costs hitting energy companies. That’s likely about to change, with the government set to increase the energy price cap in Spring. So in this video we explain what’s happening, why prices are rising & what the government can do about it.

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Responses (50)

  1. Hello everyone, thanks for watching the vid (as always). Given the response to this video, we thought we should address some of the concerns raised in the comments relating to OVO’s sponsorship of this video.

    In the comments, we’ve seen two related but distinct concerns:

    (1) that we were insufficiently transparent about the terms of the partnership; and
    (2) that the partnership in some way affected the direction of the video. For example, some commenters have, fairly, suggested we may have omitted a discussion about the possibility of energy nationalisation because it conflicts with OVO’s profit incentives as a private company.

    On the first one, we agree. We have been insufficiently transparent, and we apologise. Things haven’t been helped by the fact that the link we provided in the description addressing this (https://tldrnews.co.uk/ovo/ ) was broken for most of this morning, but even then, we could and should have included more information about the terms of our agreement with OVO. So, here goes. OVO asked us to make a video explaining the UK’s energy crisis, and why the energy price cap (and therefore energy bills) would be increasing substantially in April. We agreed to do so because we thought it was a topic worth doing a video on. That’s not to say we would have done a video on it anyway – we don’t do videos on everything we think worth covering because a) there’s a lot to cover and b) we don’t have massive capacity – but we nonetheless agreed that it was something insufficiently covered in the mainstream media and therefore insufficiently understood by the wider public, so worth doing a video on.

    It is important to stress that we insisted on complete journalistic freedom throughout. Without any input from OVO, I (Zac, the person writing this comment) wrote a first draft, which was then sent off to OVO. They came back with some feedback, mostly to do with the technicalities of the ‘Supplier of Last Resort’ process.

    This leads us onto the second concern: that OVO had some sway over the direction of the video. OVO had no say about the angle of the video or anything like that – Jack and I decided on the structure, how we’d explain the crisis, and then their experts helped us make sure everything we were saying was factually correct. In this respect, OVO really were very helpful. We’re a small company, and a detailed video can require hours of difficult research. OVO’s expertise both saved us time and improved the video’s content. we’re not saying this because we’re contractually obliged to by our OVO-lords; they just were really helpful.

    Nonetheless, we can appreciate how this looks, and why it made some of you uncomfortable. At the end of the day, a big energy company paid us to do a video about the energy crisis – that’s just the facts. Even though we truly believe that this was consistent with TLDR’s mission – by our lights, OVO’s sponsorship gave us the means to do a high-quality video on something we already thought worth covering – we see where you’re coming from, and we apologise for not being as transparent as we should’ve been

  2. Rich british r very happy with brexit 🙂

  3. I don’t get why it would be sensible to resist an increase in price. The cost of energy and gas literally doubled in the best case scenario. If the end consumer price is not allowed to reflect that change then how do you expect energy companies to make up their cost of production?

    They don’t just magically generate money. If you don’t pay them they will go bankrupt. The UK energy supply market is rapidly heading towards duopoly since so many energy firms have gone bust you don’t want anymore to follow suit, not to mention the cost involved.

  4. Video goes black at 9:44

  5. Irish also paying all households 100 euro inaddition to fuel allowance. Expect further 100 payments in stages

  6. Should consumers cover the cost of bankrupt companies? They aren't even paying the cost of the higher energy.

  7. So we're going to be paying for private companies who acted recklessly? Doesn't that ring a little bell from somewhere? Thank Heaven we live in a free-market economy, where only the competent survive and we don't pay for corporate car crashes..

  8. this video is going to be a much better return on OVO's marketing budget than their 'cuddling pets' ad

  9. This is what happens when you obey without thinking about anything.

    Nuclear is cleaner and the globalists want you to suffer, but anyways.

    As a foreigner in London, this country is going down the drain.

  10. I wonder how much price cap will increase by….just come off our fixed rate onto flexible & it’s not too bad – up £20 a month to £95.
    Could fix for 12 months at £146…..which by what I’ve seen here could be about same as price cap would increase us too….

  11. Price caps are communism

  12. The ovo endorsement is really disappointing 🙁

  13. So Ovo reccomends eating oatmeal, cuddling with my pet and challenging my kids to a hula hoop contest to help deal with these price increases. Could you do a video about that?

  14. Anyone else getting a big black gap at 9:4210:07?

  15. For the domestic energy market to be stable long term we need a stable source of energy (oil, gas & electricity) controlled domestically. Realistically by the state and not private entities. No government or opposition in this country currently has the vision or competantcy to even begin to sort out this out.
    System not fit for purpose.

  16. Im sure I remember somebody talking about getting the energy sector under controll of the state a few years ago. Think his name was Jeremy something or other. Ahh well never mind good old Boris Party Boy Johnson will sort it out, definately. 🙃

  17. As with many things going on at the moment, its all about trust. I appreciate that you werent restricted by your sponsors, however, I personally feel it still looks bad regardless of explanation. Its a shame because I really love TLDRs content. Please rethink your sponsor strategy going forward, as its a path that may ultimately result in the trust in your content reducing.

  18. I think the main course of this crises is the green schizophrenia. You can’t turn off nuclear and gas power stations and wait for a miracle in densely populated, industrialised Europe. Cold winter plus shortsighted energy policy created a perfect storm for energy spot market.

  19. What about the impact of leaving the EU next day forward price arrangements?

  20. TLDR sold out to OVO

  21. It could be worse… you could have bailouts, where the government pulls money out of its ass to give to companies.

  22. Standing Charges are just Govt authorized profit gouging. 🤑🤑🤑🤑🤑🤑👹👹👹👹👹👹

  23. So you're saying this is the most expensive energy in the world… pound for pound?

  24. Paid almost triple for electricity last month. I could barely afford to pay before…

  25. At 9:53 the screen goes blank

  26. It blacked out towards the end?

  27. So companies make money by following the incentives set by the central planning committee.

  28. Western capitalism is so great. It might actually be the thing that saves this planet from fascist western civilisation. No more global wars. No more violent invasion and colonization of other people's lands. No more lies to justify abhorrent atrocities. No more dumping capitalist waste and dropping bombs on the global poor. No more gleeful extermination of life, exploitation of non-white people and privatisation of land for profit, no more mindless worship of wealth and consumption. A dream. Let the replacement rates fall. Let the cost of living rise. Privatise everything. Embrace cruelty, greed and individualism. I'm here for it. The best part is that we fixed it so at the next election, our choice will be capitalists with differetn coloured ties! 😀

  29. I have to say that I am very disappointed with the comments here. Usually the discussion that follows TLDR videos is civil and based on facts. All I can see here is bias.
    1) For a generation raised in times where so many things are free you should grow TF up. You expect these videos for free but I wonder how many of you actually financially support TLDR? It may come as a surprise but you can't pay your bills with "likes".
    2) Everyone saying how suspicious they are of the sponsorship but no one actually points to anything that was not factually correct. Some point to things that should be mentioned but let's face it – it's an 11:37 minute video. It's not going to cover all aspects and complexity of the market.
    3) A lot of you are but hurt about TLDR not recommending nationalization of the energy market. Even though I agree it would be probably the best solution it is not their job as journalists to come up with solutions. It's their job to analyze data and facts and present it to the public in a concise manner. They're journalists not politicians. They publish journalism not political manifests.

  30. I notice that no one is talking about the round 2 & 3 CFD contract strike price set at between £40 – £80 per Mwh. This accounts for about 25% of electricity production.

  31. Russia 🇷🇺

  32. Privatize the gains and then socialize the losses. £££

  33. it seems like this crisis would not have happened if the sector had not been privatized in the first place.

  34. Ovo are cutting a quarter of their staff. How much did you charge them for the sponsorship lmao

  35. If costs go up 1000% but profits go up 1500% THAT is wrong

  36. We need to invest in nuclear, making our own electric. Selling it if necessary, as France does

  37. Matt Hancock worked for the Bank of England as an economist, our current Health Secretary "Sajid javids" was Managing Director of a Deusche Bank, Boris Johnson was actually born in the USA and his family work within News, Media and politics… Our NHS is in the process of becoming privatised due to interest from wealthy business owners just like our Royal Mail during the reign of David Cameron, it's time for change or our children will face the consequences from our lack of action.

  38. Conservatives we must practice austerity. Financial experts now is the best time to borrow money and invest in infrastructure. We could have and should have built up our gas reserves and gas extraction and renewable energies and sold of the excess.

  39. This video is undermined by it being sponsored by an energy company, that’s v poor TLDR. Maybe we could all do star jumps to keep warm…

  40. Explain "Rising World Prices" .
    I have heard that consumers are paying up to 10 times what gas from Russia costs "suppliers"…presumably several layers of profit taking there somewhere.

  41. This is Thatcher`s legacy coming back to bite us in the arse

  42. 10:28 ah yes insulation that'll fix everything… except if you rent.

  43. And that's why services like water, sewage and electricity should never be privatized

  44. Can't wait to do star jumps whilst hugging my cat because TLDR endorsed me to do so, woop woop!

  45. "We were paid by a big energy company that hasn't failed to make this video."
    <Entire video is spent bullying the ones that failed and calling them irresponsible>
    🤔🤔🤔🤔🤔🤔

  46. Sponsor? From presenting information, with bias I could filter out to profit chasing. This is the line, and I hope we can all learn from it. Trust is not for sale, not even for lease. But your graphic designers rock and rebranding can be done overnight, right? Unsubscribed, disappointed, and too long, didn't watch.

  47. Like one of the other commenters said, next time you do a sponsored video I would suggest that your sponsor be one that's not directly related to the subject you're discussing. However I understand that with something like this the information and corrections you might have received from the sponsor no doubt helped to ensure accuracy in this video.