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

Whoever that was either has a massive car or can’t do maths. My car currently costs about £60 to fill up. An 80% increase would be an additional £48 taking it up to £108.

@RedRiverShore2

what do you suggest? Spy cameras ?

[for the avoidance of doubt, I don't have a tumble dryer, nor do I wash my towels after one use. But I do have a friend with DC who have health issues & have machine that need electricity, so you can't judge by 'usage' either]

The Tories and their supporters (presumably a shrinking group but still 30% of people stay loyal to the madness) want to blame this all on Russia, but not all of it is caused by Russia: twitter.com/MartinSLewis/status/1562738137272823808

The Tories are faffing around not doing anything too - even as we accept the economic problems we face are being seriously worsened by Russia - where is the leadership?

We had food shortages in WW2 due to imports being blockaded - we had a national effort led by the government to ensure people didn't starve. If this energy situation is a result of our geopolitical position, the government should be doing something to help people deal with that. But instead the useless twat Johnson is on permanent holiday

Truss will clearly have to do something, this situation is untenable, but her current proposals can only be described as both pathetic and morally unacceptable, as they deliver only a few pence to those at the lower end of the income spectrum and the majority of support to the highest earners: a chart for info on the current three proposals on the table (Starmer, Sunak, Truss) - twitter.com/NewStatesman/status/1562854458299936768 Starmer's is best but even that not big enough for this - but would at least also help with overall inflation. At least he seems to understand the scale of the issue the whole country is facing.

The energy costs for all of us will a) raise inflation and b) take huge sums out of the economy in other places - leading to huge impacts for businesses and therefore workers in all areas of the country.

Things are genuinely really really bad. If you can afford anything at all, please donate to your local food bank or similar.

If you’re on a standard tariff, it’ll be an 80% increase of what you currently pay per k.w

Thank you @Treaclex69 and @Roselilly36 for your incredibly helpful information on your experiences with solar.

With 4 adults in the house we'll also all be looking for ways to cut back usage drastically. Some of the amount we pay is due to our energy company undercharging us previously (their error).

Blaming Russia for this drives me mad. This was predicted several years ago, long before the Ukraine war. We only get 4% of gas from Russia FFS.
And BJ standing there saying 'this is the price we all pay for standing up to Putin'. Oh Fuck off. He doesn't have to pay anything as we the tax payer pay his bills. France etc is also supporting Ukraine and they only had a 4% rise.

I feel desperately sick. I don't know how we will afford this and we are both professionals

It is the Head of Ofgem saying this, someone must have done the maths for him, would be interesting to understand where his figures come from. In that role, it is possible he drives a Bentley of course

In the US the prices go up the first of September.
My gas has gone from $85 to $155 (82%) and
electricity is up from $251 to $551 (120%).
Cost of living on my retirement pension does not kick in until January and it will be $113 monthly.
I am cooking using a three-pot slow cooker and a microwave.
I have already cancelled all the luxuries we used to have - pet grooming. gym membership. Changed shopping to a cheaper grocery store buying less meat and more cheese. Cooking more. Praying a lot.

Yes thank you, I agree.

We will have to disagree on it being 'progress'.

I don't think it's particularly progressive that as a nation we have mostly sleepwalked in to being high energy users because it's become expected that people should have houses warm enough to walk round in a T-shirt in in all weathers and anything less than that is looked down on or pitied.

We now have generations worth of houses that are poorly insulated and entirely reliant on gas and electric heating to stay warm during the winter. We have a population that is going to have to have a seismic shift in understanding what the reality is around our high energy use and how fragile and precious energy resources are.

the situation is dire. People are going to freeze to death this winter because of the poor energy planning of successive governments and councils in this country and as a nation we have become entirely unable to be resilient and self sufficient in weather extremes because of the fragility of our energy networks and our 'just in time' food networks.

covid lockdowns were a big fat warning slap in the face for just how quickly things can go wrong and yet barely anything has changed logistically as a result.

£360 a month for us. Absolutely awful

@17CherryTreeLane

its not a one size fits all thing. I don't know much about it, but you need to look into the various options & agreements. Different deals with supplying the grid & storing the energy yourself. Sorry I can't help more, but I'm sure someone will be able to!!

Todays updated table from the energy support group on Facebook showing unit prices -

It will be interesting to see the impact on the property market. I anticipate large, detached houses with swimming pools will plummet. Perhaps will push the very over-housed (say single person in 4-5 bed home) or those who have over-extended themselves to buy so called ‘forever homes’ back into slightly smaller, more manageable properties.

There will also be an impact on social care bills as the elderly and disabled will burn through their savings and therefore qualify for means tested benefits.

It's actually quite a bit lower for pensioners born before 1953, so if they don't have other income they get it topped up to £182.60 pw by pension credit.

My MIL's on pension credit, and her energy DD is £230 a month.

Her energy supplier underestimated her bills for ages, and she didn't realise, so was significantly in debit when they finally got their act together, so has been hoping that would go down when she's cleared the arrears. She's on a fixed rate, too, so protected for a while, but I suspect when that ends her bills will rise massively.

I think it's worth bearing in mind that your energy company calculates your DD based on what they estimate you will spend throughout the year.

I'm one of the very few who's still on a normal tariff (till July of next year) so I'm using this time to try and save up as much as I can.

But when the time comes, I will cancel my DD and just pay monthly. It will be my one small act of protest!

my cynical side thinks the gov inaction is to encourage downsizers thus keeping the property market moving.

'We only get 4% of gas from Russia FFS.'

Yes but other countries now need to source other energy sources. It drives the prices globally.

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. Boris should have resigned straight away and then we could have had a general election. A new government of whatever party would be tackling this crisis as their top priority.

Instead we have no real government with a ‘prime minister’ who’s just away on back to back holidays. It’s unforgivable. The stress of this even before October’s hunger and cold starts, will be killing people. And the Conservatives just won’t take responsibility for dealing with this They’re the government.

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.

or more will turn to multi generational living

There is a twitter report from an American TV station that says EDF (France) has agreed to deal on the wholesale market at Winter price of €1500 per Mkwh. which is 30X the long term average. Lower after Winter.
Thirty times an average is a vast increase.
Anyone confirm this or know the source.

I'm really glad the government has been blocking solar farms and Truss looks set to limit new renewables as much as possible. I personally love paying high energy prices AND speeding up climate change.

This dreadful Tory government can only be described as cunts.

@Unbridezilla that's not how it's worked out. It's more like a thousand household use xx power, take xx divide by 1000.

What he actually said was that the price of gas had gone up 15 fold and if we'd seen petrol prices rises by similar amounts, the cost to fill your car would be £400.

Is someone able to check my maths is correct?
just trying to work out my bills.

Electricity.. annual estimated usage 2963x .52= 1540.76
annual standing charge 365x .46 = 167.90

gas annual estimated usage 8556x .15= 1283.40
gas annual standing charge 365x .15 = 270.10

1540.76
167.90
1283.40
270.10
=3262.16/12= 271.85 per month.

does that look about right? x