(8-O)

Nah, that was a typo on my part. I keep mixing them up.

We had a cleaner come round and empty the recycling folders on our desk at Sun (They were called tree huggers, cardboard boxes you could slip paper into and then recycle it when it got full). I used to put things in there when I probably finished with them, rather than walking the two feet to the actual recycling bin. This meant that if I did need it still, it was in my tree hugger. The cleaning lady would empty it and I wouldn't be able to remember what I had ordered in the last month...

BT wants to provide national smart meter system

The potentially lucrative smart meter market has seen a new competitor enter the fray, after BT said it was looking for large contracts.

Smart meters are set to be installed in 26 million UK homes by 2020. They contain software to send and receive data from the electric grid, and aim to improve energy efficiency and enable the exact measurement of energy usage. They will also allow the use of smart appliances that can switch themselves off when not in use.

The BT consortium, also consisting of technology company Detica and media business Arqiva, will today make a pitch to provide a national system. A full proposal will be launched in September.

BT will go head-to-head with Vodafone and Telefonica, both of which have already made their presence in the market clear. Vodafone has a large contract with energy supplier Centrica, under which 80,000 smart meters have been installed so far at the homes of UK customers.

Announcing the news at the weekend, BT said that contracts with utility firms could be worth hundreds of millions of pounds.

BT's proposal involves sending the data wirelessly to suppliers, through a "long range radio" setup. The company said this was superior to mobile phone networks because its low frequency radio spectrum is effective at reaching meters in difficult places such as basements.

"It is vital that any solution is designed for ubiquitous coverage of homes and is thoroughly secure and resilient," said Olivia Garfield, BT strategy director. "We believe that long range radio is the only technology to offer nationwide coverage."

BT said it had spent 18 months analysing different communications options. The fact that radio operates on a dedicated spectrum also provided support for its choice.

The company is proposing the use of its own IT and telecoms services, as well as Arqiva's radio spectrum and infrastructure, and Detica's information security services. The providers will also work with smart meter radio specialist Sensus.

Nationally, the smart meter scheme is aimed at delivering £14.6 billion of benefits by 2020, including £6.3 billion savings for suppliers through avoided meter reading, and £4.6 billion savings for consumers through reduced energy usage.

I was asked if I would like to be part of a team to come up with a prototype something similar to that metering thing back in Sun. I said that'd be great but never heard anything else about it...

Considering the savings to the energy companies they should be paying for this installation. I can see why BT are interested. It will give the a regular cash flow for the duration, so much so that it will be easy money.

The sneaky way to beat inflation today

By Staff Writer Ruth Jackson Jul 20, 2010
Ruth Jackson

With base rates so low, it's hard to keep your head above water

Did you know that most UK savings accounts are actually losing you money? The average savings account pays 1.3% interest but inflation, as measured by the Retail Price Index (RPI) is running at 5%. So money invested in the average savings account is not doing what you want it to do – growing in value. Instead it loses purchasing power every day.

But at least UK savers have long had one good option – NS&I savings certificates. No more. On Monday National Savings and Investments (NS&I) announced that it was withdrawing its savings certificates from sale with immediate effect. It also slashed the interest rates on a good many other products.

Why? NS&I says too much money was coming in and that it was going too far over target. That may be absolutely true, but there are suspicions that there is slightly more too it than just the volume of savings pouring into the certificates.

The withdrawal may also have been prompted by the persistent rises in UK prices: it may be that NS&I isn't buying the Bank of England's view that high inflation is a temporary phenomenon and is keen to cut its future payout costs.

Otherwise, it is possible that the changes are designed to placate our high street banks, most of which are facing serious funding problems, and need all the deposits they can get. They have never been thrilled by the competition offered by the state in the form of saving certificates, and right now simply aren't able to pay out anything like the 6% tax free some have been getting from NS&I.

Still, whatever the explanation, all this is bad news for savers. So without the NS&I's best-buy products, where is the best place to put your money?

Where are the best savings rates?

In order to see a real rate of growth your savings rate needs to beat inflation after tax. If it doesn't, then in a year your money's spending power will not be as it is now. A basic-rate taxpayer needs an interest rate of at least 6.25% and a higher rate taxpayer, a rate of 8.33% to beat RPI inflation and tax.

Even if you only attempt to beat the Consumer Price Index rate of inflation (CPI) – which is lower than RPI as it doesn't include mortgage interest costs in its calculations – basic rate taxpayers would need a rate of 4%, and higher-rate taxpayers, 5.33%. Sadly, those interest rates just aren't available. So wherever you save today you have to accept that you will lose out over time.

The best rate is 4.9% – from the Baroda Max five-year fixed-rate bond. But I would not recommend locking your money up for five years when interest rates are so low – they can only rise from here. A better time period would be two years: that way when interest rates go up you won't get left too far behind. The Baroda Max two-year fixed-rate bond pays 3.8%.

If you go for a cash Isa, you need a lower rate of interest to beat inflation, as your returns aren't being taxed. But you would still need 5% plus to beat RPI and 3.2% plus to beat CPI. Sadly you can't get these rates either. The best cash Isas available are from Northern Rock and the Post Office which both pay 3% on their one-year bonds.
The sneaky way to beat inflation

However, all is not lost. There is one sneaky way to beat inflation – make the most of current account deals. Santander offers a rate of 5% on balances of up to £2,500 on its Preferred In-Credit Rate account.

You just have to pay £1,000 a month into the account – if you don't, the rate drops to 0.1% – but that money can simply bounce through the account straight into another one. Add the £100 cash-back you will receive if you set up one direct debit from the account, and that easily beats inflation.

Alliance & Leicester (URL) offers the same deal, but you can't hold an account with both banks. If you do, you'll earn 5% interest on one account and 1% on the other. Just be aware that the rate drops to 1% after a year, so be ready to move your money.

http://www.moneyweek.com/personal-finan ... ey%2BSense

And who the hell do you think you are posting on topic in your own thread, eh? We've strived very hard to go off-topic in two different directions, and you keep posting on topic! (8-p)

The issue here is that the government are still giving the banks a huge savers funded subsidy by deliberately holding interest rates so low. The banks love the fact that while people are saving they are still giving the banks a huge subsidy. They are able to make loans with margins that they have never seen before. No wonder they are so profitable even accepting that they have huge loan losses that they still have not declared. The problem for the government is that the banks will want to keep these margins for ever regardless. That will create other problems in the economy. Pensions will be eroded very fast as a result of the low interest rate poverty and anyone who has not already started receiving their pension will have a nasty shock in a few years when the pension pots are drained by current pensioners before many have even retired.

I haven't been well

TV Tip

How to Beat Tough Times: Money Watch on BBC 2 11.20 pm tonight.

Good show, made even better by Sophie:

http://img413.imageshack.us/f/sophieraw ... beatt.jpg/

And we're successfully back off-topic...

Are you trying to link this page to the people who you wished were on TV more?

Yes it is a good show

http://www.bbc.co.uk/moneywatch/ for the advice and tips

On and it is on TV again tomorrow so more Sophie!!!

Make the most of your loyalty cards

http://www.lovemoney.com/news/get-the-b ... -5192.aspx

Very handy tips for those of you with loyalty cards.