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Original poster

Price Cap - Just announced

994 replies

swifttwist · 26/08/2022 07:03

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

OP posts:
Thread gallery
13
MinervaTerrathorn · 26/08/2022 07:46

Cheerfulcharlie · 26/08/2022 07:40

Is this likely to be a fairly temporary spike in prices ? Will next winter be lower prices?

I hope so! Turning heating off the second my fix ends in March and hoping rates come down for next winter.

Sporty2022 · 26/08/2022 07:47

Is this a permanent thing or will they drop again maybe next year? I appreciate it’s hard to predict.
But fuel prices have come down, slightly.

flashbac · 26/08/2022 07:47

50p per kwh for electricity 😱
That means using an electric oven for an hour costs 2 quid!

Interested in this thread?

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Cost of living
cantthinkofabetterusername · 26/08/2022 07:47

It's a massive hike! I can't believe the government are doing nothing. We're already struggling with energy bills god knows how we'll manage now

Igotjelly · 26/08/2022 07:47

It’s impossible to say if it’ll be temporary. We buy off the wholesale market and it’s impacted, amongst other things, by the Ukraine war. Some experts expect it to go on for decades so unless the World diversifies successfully away from Russian energy it’ll be impacted for years to come potentially.

17CherryTreeLane · 26/08/2022 07:48

@Treaclex69 do you have solar? A friend installed it recently and hasn't had to pay for any usage over summer. Is that not your experience? Keen to learn more before we blow £10K on it.

gogohmm · 26/08/2022 07:48

@BrownTableMat

If you live in the sw you are doubly screwed because our standing charge is significantly higher, currently 49p vs 36p in London. No idea on the justification! Bristol is a major city so cost to deliver electricity won't be any higher plus we are putting up with the disruption building the nuclear power plant every time I visit my parents!

flashbac · 26/08/2022 07:50

Redqueenheart · 26/08/2022 07:45

I just saw a tweet from a pensioner just who said he was simply going to refuse to pay any of these outrageous utility bills.

His reasoning was that at his age he does not give a damn about being in debt and that it is more important for him not to die of hypothermia and to have enough money to buy food this winter.

I think when even pensioners start to revolt like this it is a sign that people are starting to wake up to this and simply refusing to be be exploited.

The result of this madness if it is not brought back under control by government will be small businesses folding, mass protest and payment strikes.

The company can get a warrant to enter homes and cut off supply and/or install prepay meter.
Not paying isn't some magic answer.

Sporty2022 · 26/08/2022 07:50

Bunnycat101 · 26/08/2022 07:41

@Igotjelly I agree - Martin Lewis has been warning of this level of rise for months and he’s been accused of catastrophising and subject to a lot of abuse.

This really is worrying for those households on a lower income but also businesses that are already struggling. I saw a childminder has already said on this thread she’s worried - the early years sector is already challenged. This could be the thing that tips many providers over the edge.

Why was Martin Lewis subject to abuse, when he was trying to warn us all about the price hikes?!

Are people that naive and stupid? Why abuse a man who trying to help ( and he’s actually very wealthy and doesn’t have to intervene).

Unbridezilla · 26/08/2022 07:50

Does anyone know what the "average household" means?

Two adults and two kids in a 3 bed semi at 1200 sq ft? Or 4 bed detached? Or two adults in a 2 bed?

MrsLargeEmbodied · 26/08/2022 07:51

i reckon whoever becomes prime minister is waiting to come on with a white charger and save us all.
the should be meeting now and planning

Treaclex69 · 26/08/2022 07:52

17CherryTreeLane · 26/08/2022 07:48

@Treaclex69 do you have solar? A friend installed it recently and hasn't had to pay for any usage over summer. Is that not your experience? Keen to learn more before we blow £10K on it.

You need to ask your friend if they are storing what's generated. As we can't store anything we still have to pay currently we are paying £150pm electric. What I use whilst energy is being generated is free as such but what's not used goes to the grid and the council ( my landlord ) then receives money.

Igotjelly · 26/08/2022 07:52

Sporty2022 · 26/08/2022 07:50

Why was Martin Lewis subject to abuse, when he was trying to warn us all about the price hikes?!

Are people that naive and stupid? Why abuse a man who trying to help ( and he’s actually very wealthy and doesn’t have to intervene).

Show quote history

As people above said he was abused for catastrophizing etc. it got so bad he had to take a break from social media.

hedgehogFC · 26/08/2022 07:52

This is going to lead to civil unready, surely?

Sporty2022 · 26/08/2022 07:53

Well the state pension is something like £600 a month isn’t it? So even with winter fuel payments, pensioners won’t be able to pay these bills.

Sadly many pensioners keep voting the Tories in. Hopefully this will wake people up.

Sporty2022 · 26/08/2022 07:54

I remember the pill tax riots. Even that tax wouldn’t have hit people this hard.

Surely will be civil unrest, protests?

RedRiverShore2 · 26/08/2022 07:54

I think it is a median figure of everyone who has a domestic energy bill, taken over the last two years, it's two years because of Covid skewing it a bit, something like that, it's not an average figure.

Sporty2022 · 26/08/2022 07:54

Poll tax not pill tax

Wilma55 · 26/08/2022 07:55

From google.....
According to Ofgem, the average British household has 2.4 people living in it and uses 2,900 kWh of electricity and 12,000 kWh of gas. This works out at 242 kWh of electricity and 1,000 kWh of gas per month. Of course, this is just the average consumption for a household of between 2-3 people.

MrsLargeEmbodied · 26/08/2022 07:55

pretty sure Eon has increased my tarif
can they do that?
i was quoted a certain fgure, 100% more than previously and it is now even more!

Akite · 26/08/2022 07:55

We only have electricity so our current standing charge is 49.16 and kWh charge is 27.05p
so the standing charge is only increasing a little but the kWh charge of 52p is near enough double the current price.

cakeorwine · 26/08/2022 07:55

I am on the 'price cap'
Current gas is 7p so goes to 15p - a 106% increase
Current electricity is 27p so goes to 52p - a 91% increase

It would be interesting to see the effect on lower users versus higher users.

The standing charge hasn't changed much.

MrsLargeEmbodied · 26/08/2022 07:55

state pension is £800 a month

Hugasauras · 26/08/2022 07:55

MrsLargeEmbodied · 26/08/2022 07:55

pretty sure Eon has increased my tarif
can they do that?
i was quoted a certain fgure, 100% more than previously and it is now even more!

Are you on a fixed rate or the variable?

Hlglu56 · 26/08/2022 07:55

It’s going to be a really rough winter. My house is cold anyway with the heating on but this winter is going to be a nightmare.

My mum’s business is closing. Despite being fully booked every night they just can’t afford the energy bills and rising cost of food produce. I think this will be the same for many catering businesses, especially as people won’t be able to afford to eat out.