Price Cap - Just announced

[swifttwist]

From £1971 to £3549. 80% rise. I have no words.

New figures:

Electricity
£0.52 per kWh
Daily standing charge: £0.46

Gas:
£0.15 per kWh
Daily standing charge: £0.28

I do not agree with ML getting abused either it is shocking. However, I think people need to recognise he is a millionaire and he does not live like us. I fixed my tariff for 2 years in October 2021 after all the small companies were going bust or in trouble and I tried to persuade my relatives to fix theirs too as it was a good deal albeit marginally more expensive. They refused and stated ML says not to fix it and no amount of reasoning from me could change their minds.

'This is a social emergency. I can’t believe the Tories are leaving us with no effective government while they piss around having this vanity leadership election.'

I know, the leadership contest is ridiculous when we had a perfectly competent PM who would have sorted this.

Anyway, we've had payments and both Truss and Sunak have said there'll be more theyve had to wait see who will be PM though, obviously.

A normal government should be recalling Parliament, issuing an emergency budget, renationalising whatever is needed, spending whatever is needed to create alternative power sources, make an emergency coalition between all parties to work together on this issue. I don’t have a specific solution because I don’t know anything about energy, but we have experts in this issue they should be listening to. This kind of shoulder shrugging at the top is absolutely horrifying. 100%. All the other parties must be tearing their hair out as they are unable to force the Tories to govern. And people thought a coalition was bad - this is what happens in our system when a shit party gets an overall majority - they can just absent themselves from governing whilst taking the pay cheques. I am so furious and completely powerless in our system.

It's one hell of an increase. I'm trying to work out how we can make savings as this on top of other increases (mortgage, food etc) is making things pretty tight.
Currently staying with my parents who aren't helping with their comments. They seem to be blinkered with how bad it is for a lot of people (the high interest rates they had card has been played).

But as the saying goes the Tories don’t have the depth or capacity to give pleasure Carefullycourageous

Its absolutely jaw dropping how they’re behaving. The Conservatives think they’re the party of financial responsibility. As if. They put their party before the country every time.

"New MSE price cap rise calculator. Please share.

As the cap is both regional, and based on standing charge and unit rates. We've built a calculator to ESTIMATE your personal increase - the team has just finished plugging in the data, so its now live."

twitter.com/martinslewis/status/1563076390593101824?s=21&t=ZYqaPksDoGmEif3tc0hVlw

Thought I'd share this here.
It's only an estimate.

I'm putting off working it out but I can't hide from it.

Thanks @Alexandra2001 - the clip I saw was a bit truncated I think so it was hard to understand fully what he was saying!

It’s going to be really, really tough for so many people.

Our two bed will go from 170 to 310 and probably over 400 in January. Absolutely crazy. We use hot water for baths/showers, washing up and that is it. Heating rarely goes on. How can this be justified? It’s the people on pensions I worry about.

I’m what they would class as the average user for electric

last year i used roughly 2700 kw so slightly under what they say the average user of 2900kw

large 2 bed / 2bath house 3 adults

I’m on expensive pre pay with EDF
My unit rates
Electricity day unit rate: 34.83p per kWh
Electricity night unit rate: 14.96p per kWh
Daily standing charge: 56.62p per day

I keep £100 on my meter and top it up each week back to £100 so I know what I’m using in £

Last year I used around £850 inc the standing CH
before the rise in April I was topping up £15 a week although more in the winter like £20

Now I put on £20 a week
I use roughly 8kw a day at present which is £20 a week - of which £4 is SC
I rarely use the dryer or cooker but I’ve always been like that

I have GCH as well and last year my gas bill
was around £371 from June 2020 - June 2021 and that was me having the heating on pretty much full on in the winter
im a low user of gas at around 7780 but I routinely put the heating on in the winter if I want it .

I saw him on BBC Breakfast. He was so angry at how the government are doing fuck all.

Actually, where is the government? Apart from Truss and Sunak trying to drum up votes from the tiny number of people who are going to choose the next PM, they all seem to have gone awol.

Pretty close but you have the standing charge for gas wrong. 28p per day, not 15p.

Exactly!
..and if Germany/Italy etc had sourced its gas from Norway, then the UK would have had to buy far more from Russia etc.

France is now cutting a deal with Algeria on gas, so i'm not sure of the wisdom of Truss saying Macron is an enemy of the UK..... what an absolute fool she is.

I’ve just bought an air fryer. In the 2 weeks I’ve had it I’ve only used my oven once, yesterday, whereas I usually use it once a day.
I made a big pan of bolognese and one of shepherds pie filling on my induction hob, a big bowl of chilli in my slow cooker and a big bowl of chicken casserole in the oven. It’s all portioned and bagged up in the freezer now ready to be reheated in the microwave. 2 hours of oven / hob / slow cooker use for 24 meals for 2.
we’re going to have to be creative with our food prep in order to reduce energy costs.

I also seen online that businesses also include hospitals and schools. God knows whats going to happen with them.

According to our meter, since December 2021 (so six and a half months) we have used just 44kwh of electricity - this doesn't seem possible?? Our current bill for gas and electric is very low - £30pcm, and we have almost £300 of credit built up.

Worried there is something wrong with our meter now - we are low users (tiny fridge-freezer, washing machine and dishwasher once a week, two laptops and no TV) but this seems implausibly low.

'I’ve just bought an air fryer. In the 2 weeks I’ve had it I’ve only used my oven once, yesterday, whereas I usually use it once a day.'

We have an airfryer and yes it cuts electricity costs ime. No warming the oven up and everything cooks quicker so it is saving on a daily basis.

Yep they literally do not give a fuck.

They’re all as useful as a chocolate teapot.

@JaniieJones we’re trying to decide whether it’s worth the money or not, seems so expensive but if it saves money it’s worth it. Which one have you got?

It’s the people on pensions I worry about.

I think we have to start worrying about a very large pool of people, in all different situations.

-Pensioners - fixed income (some very low), rising costs
-Low income families (working and/or benefits) - low income, rising costs, many mouths to feed
-Self-employed/small businesses - spiralling costs so business failures increase
-Everyone else - increased stress and reduced discretionary spending = economic impacts

A million more homes will not be heated this winter. That is just awful.

Really unhelpful. I for example am on a fixed price tariff so my unit rate will go up at least 4-fold. (I consider myself very lucky to be paying a low rate until end of September).

They can't increase your tariff if you're on a fixed tariff, but they can increase your DD.

your tariff is what you pay per unit & daily standing charge.

the number of units you use x your tariff plus the standing charge is your usage, you pay for your usage. your DD is calculated to cover this. (Each company works it out slightly differently). You can do readings each month & just pay for what you used, but DD (used to anyway) keep it even throughout the year & at the end you owed it were owed a little money.

Does that make sense now?

Just had a text from my energy supplier saying they haven't had a reading from us for over 6 months (which is nonsense). Checked my app and they have used estimates since Dec. Cheeky fuckers..... on the upside though we are over £1500 in credit. Hopefully. Will be interesting to see where we actually are once I submit a reading.

I'm thinking of cancelling my direct debits as I think they're trying to con us.

OPEC are a legal cartel.

For anyone with an electric shower they are really expensive to use
but if it has an eco button use that as it will cut the cost roughly in half

Yes, it might be ...

My Autistic Dd, 15, just asked me, on the way to School: 'are we going to be cold (er) this winter?' As a parent on a fixed low income (Carer's allowance + some income support) she is sadly used to me turning down the heating. That 'cold-ER' bit made me tear up a bit. I told her that, no, we would 'be okay' (hot drinks, electric blankets' lots of snuggles etc) but I don't think we will, I really don't.

I understand that the situation in the Ukraine has had a massive effect globally. Am I 'happy' to pay an extra £50 /m to 'teach Putin' that he cannot behave this way & use the gas pipline as a massive threat to act in a criminal manner: Yes.

CAN I pay it? NO And it's not 'an extra £50 either - its an extra £300...'

What is especially upsetting is the fact that, due to their short-term-ism the Govt has made a naturally occuring issue far worse. If we were less reliant on coal & gas, had more storage, had more control over our own national resources etc .

I think we are going to have another 'winter of discontent' in the UK.