I truly cannot believe energy bills are going to go up 40% again in October

[nellytheelephant1980]

When are people going out on the streets to protest? When are people going to rise up??It's absolutely shocking
Our energy bill was £154 in January and now it's £284. In October it's going to be £400?

Petrol/diesel costs as well, the price of food, energy bills. I'm actually genuinely worried sick about how we will survive now. We both work full time. I'm in the NHS so no payrise for me.

I just can't understand how they expect people to cope? I'm so worried

It's just the cap thats going up.

A lot of people will be worried, it's all very alarming.

www.bbc.co.uk/news/business-61562657.amp

Yeah the cap on what they can charge, which means they’ll all put their prices up!

But the energy companies leap on the opportunity to hike their prices. Ditto fuel. It's shameful.

So why haven't they done that before?

Errr?

This is why the situation won't get any better. Too many people just fundamentally do not understand the energy supply system in this country.

I am so, so grateful we were lucky enough to fix in February. Even if it is at the current price cap, it's a relief to know we don't have to find even more each month again for at least 2 years!

I heard something on the radio that depressed me.
Even if the war in the Ukraine stopped today our fuel costs will still increase for the next 12months, longer as the war continues.
Add food cost rises, add wages staying the same and unless you are on a decent private pension you're in for a tough 18 months.
Its going to be a bad winter for many of us.

Why haven't who done what before?

Simple. The cap is the maximum amount they can charge. Prior to the present crisis, the SVR was less than the cap, so why didn't the big 6 raise their prices to the maximum allowable?

Wasn't that did to competition from other smaller companies though @IanOsenfrote and now there isn't much competition the prices have all jumped up?

If the cap is going up to £2800 (which is £233 per month) why are some people's bills higher than that already? Ours is about £190 a month at the moment which exceeds the current cap of £1971/year, but we're all up to date with payments and meter readings and no arrears. Feel like I'm missing something, how are the bills allowed to exceed the cap?

@RiskyReels it's the average house cost that is publicised.
If you use more than the average you will pay more.

Its a price cap on the average bill. If you use more gas/elec then you will pay more. I think it's based on 12,000 kW or something like that which is the average amount used. Its not a cap that means they can not charge more than that. Otherwise people would have their heating on and windows open etc.....

Thank you!

Yes, in part but the problem is the price of gas on the world market, which the government has no control over. The government did have control over getting rid of all our gas storage facilities.

The smaller energy companies will return when the price has stabilised and if the big suppliers keep their prices high.

In my case, I fixed with British Gas for 2 years just before the prices started to shoot up. They must have made a loss on every bill they sent me and I doubt it was just me.

The price cap sets out the maximum price per kwh and standing charge that a company can charge customers. Giving a monetary value is very misleading as higher users will pay a lot more than the figure given.

The price cap only started in 2019 so its not been about that long.

Before the crisis the SVR tended to be the more expensive option as companies offered cheaper fixed deals. Now there are no cheap fixes and as soon as the price cap rises all the companies will increase their prices to the maximum level like they did when the price cap increased in April

It's just making me more determined to use less power. I'm busy stacking the woodshed ready for the autumn, trying new recipes using the slow cooker, and generally being more frugal.

When Russia is driven out of Ukraine and the market returns to normal, prices will come back down but I'll still be using less power and the utility companies can take a hike.

It's the only positive approach I can think of.

They did, last month 🤔

If it's due to world gas prices why has electricity gone up ?

With your username I can't tell if you're teasing 😀
If you ask me it's all Maggie's fault for closing t'pits.
But really gas and oil has gone up (and uranium) In the UK we only get so much electricity from renewables like wind so we need fossil fuels to make the electricity. Also they have had to spend on the infrastructure and network which is why the standing charge has gone up as well as the units.

The government urgently needs to do something about it.
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@MayorDusty lol no I'm just a bit thick on these matters!