Energy bill price cap predicted to go to £3850 - 3 x what it was a year ago

[cakeorwine]

There is an AIBU here - but really it's posting for traffic

Russia is having 'maintainance issues' so has reduced the gas flow to Europe to a low level.

Gas prices have soared again.

Price cap prediction - £3850 - about 3 x what it was a year ago.

This is going to affect all of us

www.theguardian.com/money/2022/jul/27/uk-energy-bills-forecast-to-hit-3850-pounds-russia-cuts-gas-supply-further-europe-pipeline

Mine's fixed until Nov 23. If it goes up by the sort of factor your crystal ball is predicting, I'll be paying £320pcm.

I can't see how I'll ever be able to afford to retire at this rate. £320 a month would be almost a third of my pension income. I only hope there's a decent state pension increase this year.

Yeah depressing thought.

Somebody upthread said they could actually afford to pay £10,000 p.a. for fuel. That is disgusting when so many can't even afford £1000

Why?

Yes I get the chimney swept yearly, but I know loads of people who don’t because they only light occasionally. The PP who said there will be more house fires is about right I think. Yet another public service that is just about coping will be pushed to the limits of what is acceptable and safe.

Yes, it's just a bit depressing to think we might be rationed. I think many people will struggle or the companies will insist on all of us having smart meters too. It's all about control.
My neighbours have had their chimney swept today ready for winter. They are probably doing a roaring trade at the number

Moment

For those asking why when we only import a little gas why are we suffering. Well we haven't got the storage any more. We dismantled our gasometers. Our local ones are now a small housing estate

High prices will likely force reduction rather than explicit rationing

There will be people who can happily use energy to heat indoor swimming pools, run jacuzzis, power washers etc whilst others struggle to afford energy to keep their house at even a relatively ok temperature or to cook their food.

Maybe there could be a scale - so you pay a certain amount for so many KWH and then extra if you go above it

1.34billion profit from British gas does anyone know how many customers they have to do the math

Some of the most vulnerable users, those who rely on electrical equipment to be able to manage their lives at home, are among the highest users.

How would you account for these people when you intend to target those high use users who you deem use electricity negligently?

Government missing in action

In her interview on the Today programme this morning Nadine Dorries, the culture secretary, appeared to play down the impact of the huge rise in fuel costs that people are going to face this winter. When it was put to her that bills would be going up by £2,300 this autum, Dorries replied: “Some, some people’s bills may increase by that amount.” The italics illustrate the words she was stressing. Dorries highlighted measures already taken by the government to help people with their bills

Look at personal circumstances

And people who need to use such equipment definitely need support.

Just to get this straight - or be corrected

Gas and oil companies based in U.K. sell on global market and due to supply / demand situation prices are higher. Hence greater profits

Consumer based energy suppliers buy from them or from o/s at global market rate - which is going up hence price cap rise so they don’t keep going bust

One suggestion is nationalise but we’d have to buy at market rate which is how much?

Another is to do windfall tax again and pay lower incomes which did happen, as profits are still abnormally high could repeat

Of course the government officials will just say ' we have done this and that ' because ( to be fair ) they have. Those on benefits have had extra money too.
I've never had any money towards fuel bills before now and I'll be grateful for it in October , but they can't dine out on this forever and it won't stretch that far for many anyway.
Not sure what the answers are though unless they make the fuel companies turn over the profits to the government. I'm not sure how that might work or be feasible or even be lawful? They will argue that they have already done this once.
I think they might just kick the can down the road on this. Hope it'll be ok and keep saying what they are doing now rather than look at the bigger picture ?

If you have a smart meter you have no control over when its switched off and on. Hopefully it will be in short bursts so our freezers don't go kaput food wise. The pamphlets will be written for the printers royal mail warned that this is what will happen this winter and this is what you need to do to prepare. . we've got a couple of months to prepare then.

Big companies will be in the know to supply hot water bottles etc. It's on a need to know basis at the moment

If you have essential medical equipment in your home it would be wise to invest in a generator if things get really bad. BUT please don't buy from Aldi Lidl bq some unknown make we can't get spares to repair them. Find a physical shop that sells, services and repairs. Honda comes to mind. We lived in the back of beyond for twenty years overhead lines lots of trees. Our generator ran the central heating and a few plugs

Also talk of VAT dropped for one year and removal of green levy

This will help a bit, measures which help businesses too like these will be beneficial over just money in banks

We would have the heating on like that in the winter. DH is retired and is home all the time and I'm working from home part of the time. He has joint problems which get worse in the cold. Our flat is always freezing in winter and the air is always cold even with a layers on. We've had a second radiator installed to try and make it warmer (due to the layout of the room the other one is partially covered) so hopefully that will make a difference.

On the other bits in your post, we tumble dry socks and underwear in the winter and I will use the oven for a jacket spud - much nicer than in a microwave.

Approx £300 per year, on a price cap predicted to be around £4000.

Meanwhile Johnson says Pain is inevitable & its a bit like an athlete in training...

Sorry but thats a pathetic response... but not surprising.

Why does nationalisation of the NS Gas industry, have to be at the market rate? surely its at whatever rate the Govt decide?

I don’t know how it works but presumably you have to buy off shareholders who own it

What figure are you thinking?

Meant to quote Andrea

Another is to do windfall tax again and pay lower incomes which did happen, as profits are still abnormally high could repeat

I thought there would be no windfall tax IF they invest etc... so as they have been investing, there has been no tax?

A bit of a catch all - as we seek to de carbonise, the energy industry have too invest in renewables or they will fold.

No idea.. but unless radical action is at least considered, then all the Govt can do is give us all a little bit more money, which will add to national debt and end up in the pockets of Centrica etc.

However, EDF which owns France's Nuclear energy industry was bought out for 11 billion euros.