Energy to go up 64% in October

[ToastedWaffle]

And 4% in January.

Fuck sake!
I dont even have an AIBU, this is just fucking ridiculous.

A few months ago, Martin Lewis was recommending that people didn't fix their tariff when their old deal ended. That's not aged well has it?

Our current supplier, EDF, is only offering a new fixed dual tariff of £535 a month.

Our current fixed tariff, which ends next month, is £210!

They’ve notified us our DD will increase to £280 from Aug 1st. Obviously they’ll increase it again in Oct.

TBH I’m going to refuse to pay the 64% increase and will keep the DD at £280. I don’t care about arrears, I’ll be one of many. If everybody did this, government would have to step in and something would have to be done. I’m not freezing mine and my DCs arses off and going back to living in the 19th century while living in one of the wealthiest countries on earth.

Low income people on benefits with pre payment meters will be hardest hit - probably have to put in £10 a day just to cook and have a bit of hot water for a sink wash. Won’t even be able to afford to do that let alone put the heating on for an hour a day.

The MC and rich will fare better as usual with their fireplaces and log burners.

Yanno you don't have to pay by DD. Ring them.up, cancel it and ask for the bank details to set up a standing order. They can't help themselves to your bank then.

It's not him who is responsible for the high energy prices.

It is him who is telling us what the energy price cap will be.

I did have an offer from Shell a while ago to fix. But it was much much higher than the price cap. So I didn't want it.

The Government money will help as I am a low user and the subsidy is a fixed amount, not a percentage. I feel for people who do need to use a lot more energy.

I don't think you understand how gas and electric charges work

Yours may of stayed the same if you were on a fixed rate

@Manekinek0 that is interesting to know. Most people I discuss this with recoil when I say I’m on prepayment because they all exclaim how expensive it is and how much better off i would be switching to quarterly or direct debit. There is also the misconception that those on prepay must be on benefits or owe a debt. Neither of which is true for us

I'm not shooting the messenger here, but it does flag up how difficult it is for people to know what to do for the best in such a fluid situation. Even the "moneysavingexperts" are getting it wrong. Meanwhile, the Tory governments response is to tell police to clamp down on the Go Slow fuel protestors...🙄

@ToastedWaffle it depends if you have a water storage tank? For newer combi type boilers that take water straight from the mains you can set the temperature at under 60 degrees.

@Aishah231

"Oh but it does work like that. Look at countries which have nationalised suppliers. Nationalised energy is cheaper - especially when the sources of energy wind farms, north sea oil etc are also nationalised'

++++

Except it does work exactly like that.

Current European power prices are €205 MWh. German winter power prices are around €300 MWh and despite most of their electricity industry being nationalised French winter power prices are currently €605 MWh and are the highest in Europe.

The difference is that the French Government is forcing state owned EDF to make a loss which is then in turn propped up with taxpayer money.

Meanwhile, the Tory governments response is to tell police to clamp down on the Go Slow fuel protestors

Yes - cracking down hard on people who are protesting about the cost of fuel, energy and the cost of living is not going to be a good look. I remember the Poll Tax riots.

October onwards is going to be hard. There are talks of strikes. High inflation. Wage freezes. High energy costs.

A winter of discontent. The 1970s is back

The difference is that the French Government is forcing state owned EDF to make a loss which is then in turn propped up with taxpayer money

Taxpayers could be big corporations, incredibly wealthy individuals who seem to get away with not paying much tax.

He actually gave a conditional statement. If your new fix quoteto is less than x% of the price cap or something. Can't remember the details. Shy of anyone having a crystal ball, who knew rates would rise as much as 64%?

Ah thanks. Mine isnt a storage tank. It's a new boiler that I got through the grant scheme. I will drop the HW temp down a bit then. It says it is in economy mode at 61 degrees for the CH stat. If I drop it below that the eco mode sign goes out.

We have never earned as much and never been so worse off. Genuinely frightened for people on low incomes and freezing cold children and old people.

Back in the '80s you'd see posters in places like doctors' surgeries with the slogan 'Cold Kills the Old', and warnings about the signs of hypothermia in elderly people. These were necessary because the state pension was so low, and so many houses had no proper heating system that elderly people couldn't keep warm. It's obscene to think we will be going back to that.

It’s obscene. Yet this country is obsessed with a race to the bottom. Instead of trying to encourage everyone to have more, people want everyone to have less. This is how the govt get away with it.

I'm so glad I took the risk and fixed at 15% above until March. Figured the worst that could happen was that I paid a bit more over summer when bills are low anyway (£55 combined for June). I knew I'd be kicking myself if I stuck with variable and it went the way it now has.

So we’ve just recently moved and there is a prepayment meter and we have been switched from our old monthly DD to prepayment variable, we are now paying 43p per KWH of electric, does that sound right? We were paying 28p per KWH for our variable DD tariff after the price increase in April, dread the October rise 😩

We bought this house last yr. The property had been a rental since 2008. The electric was pre-paid. I compared the tariff between a DD and pay as you go there was very little difference.
So I kept the pre-pay smart meter, we top up when it hits £20, it cost us about £750 a yr.
There was no gas, no heating. So we managed to get a grant to install a full CH system and they also insulated the loft room with insulated plasterboard. We also put new windows and a new door on.
We used 825kw of gas last yr at current rates that's £325.
It's a 3-bed cottage over 4 stories.
We only really use 2 or max 3 rads out of the 8.

The key to surviving this energy crisis is managing output and controlling the bill by pay-as-you-go with a smart meter.

These grants are still available.

www.simpleenergyadvice.org.uk/grants
The ECO scheme is still running.

Why is it not possible for more to be done to pressurise E.g. OPEC?

Because many of the countries who belong to it are those who you really wouldn't want to upset - not least because some now own too much of our infrastructure

As a PP said it's a shame the Green lobby have been allowed so much influence; doubly so because, when the real damage hits, they're unlikely to have anything practical to contribute

I think putting effort into renewable power is really important.

The mistake was not embracing nuclear as well. Nuclear power would actually be a big help against global warming.

Why don't we put a windfall tax on the government? Ed Milliband's green taxes make up a large part of everyone's energy bills. Just remove them. Energy taxes, fuel duty, VAT, the government is absolutely raking it in as increased prices mean increased tax take.
The government is taking 17% of your energy bill while the "evil companies" make 2%. Who really are the evil profiteers???

@Notlabeled then how do you propose we pay back the money that was handed out during covid?

It could be argued that reducing people's spending power because the money they do have is going on energy (and VAT) from that is bad for economic growth as people don't have the money to spend in the economy.

Increased economic growth generates Government income.

Ask the lockdown zealots on the Corona board.