Price cap - predicted to be £3300 from October

[cakeorwine]

Obviously that's 'typical use' - but it 's currently £1971.

www.theguardian.com/money/2022/jul/08/uk-energy-bills-rise-winter-energy-price-cap

That is going to be massive for many many people. Even with the support from Government.

Well done if you fixed.

I saw Martin Lewis tweet about this earlier. It's based on Cornwall insights predicts (they are normally very accurate) and has been bumped up due to a spike in the year ahead wholesale prices.

I don't think it is realistic for the government to just step in and provide financial support. The money would be better spent on insulating homes, ungrading hearing systems etc.

Insulation and other energy saving things in the home will definitely have an impact.

Although no doubt the cost of all that has gone up recently

Just watched martin lewis say its going up 64% then a predicted 4% in jan. Fucking sick of it.

But that all takes time.

So until there is a realistic, viable and workable scheme to ensure country wide insulation and efficient boliers then something must be done in the meantime

What is typical use though?
im hoping for a very very mild winter!

I just started another thread on this but will post on this one!

Martin Lewis was just on Channel 4 News stating that state pensioners face spending two thirds of their pension on just energy. People on Universal Credit under the of 25 will have literally nothing left after paying their energy bills. It’s not sustainable.

The only viable solution is for the giver to nationalise the energy companies. This is a policy favoured by Ed Miliband back in 2015 when the government knew this crisis was coming. Starmer has so far ruled it out but we’ll see for how long. The Tories keep bleating about the £400 handout which will be completely wiped out by this increase in tariff.

Government not giver

It will become clearer if people know their energy usage.

I suppose it also depends if it's the standing charge or the cost per KWH that goes up.

All these things affect the price people pay

It's also going to massively affect inflation.

Household energy costs are a large part of people's spending.

I’m being to believe the conspiracy theorists!

Sod's law will make this the coldest winter for a generation,and make "the beast from the east" looked back fondly as a warm spring 🙃 or maybe the last few years have affected my expectations 🤞

Hasn't France just done that?

I'e nationalise a company??

Totally unaffordable for most families. Even cutting down usage doesn’t help much when you consider the standing charge.

Me too!

Above, in response to @Eatthecake80

I think a lot of people who don't follow the news are going to be in for a big shock in a few months.

Why will nationalising energy companies work ? It’s the wholesale cost of gas that is the problem, it’s a global issue. Energy suppliers make less than a 2% profit on energy supply.

If the U.K. caps energy prices they’ll have to pass costs through to customers another way - they still have to spend the money to buy the very expensive gas.