Energy Price Cap to hit nearly £7000, what is the chance they will hit £10k by end of 2023?

[onthefencesitter]

I think it's extremely likely esp if Putin cuts off Nord Stream. Thoughts?

So will hit £6k by January, £7k by April and £10k by end of next year???

This is fucking scary.

The energy think tank that accurately preicted today's rise says it'll be 6.5k in April. So it'll be at least that.

Where is this from? I'm looking for this on all the news stations and I can't find it (not disputing it I'm just worried)

inews.co.uk/inews-lifestyle/money/bills/energy-price-cap-rise-april-2023-ofgem-announcement-1817004

What is almost certain is the £7k by mid 2023. The £10k is a prediction given that it has risen from £1k on 2019....and Putin hasn't even cut off Nord Stream yet which he probably will at some stage.

Cornwall Insight is the think tank that forecast today's increase.

And there are some, who are happy to keep on accepting the higher and higher charges.
For the sake of climate change..
For the sake of a political party..
For the sake of their ideals..
For the sake of communism.. Or a form of communism..
For the sake of...?

What they havent quite factored in[yet] is how high are they happy to go to?
How much are they themselves prepared to pay?
Will you accept your personal bankruptcy for the sake of..

It may get that high but then I think the gov will have to step in, it's going to be carnage.

Martin Lewis on R4 Today programme rightly echoed this, sadly he has been right for months and warning people with no response from this government. The mantra that it will be dealt with by new PM has left people scare and worried. The impact on the elderly and those in poor mental health is cruel. The government have know enough to implement a policy that could later be adjusted but preferred to play politics. Blood once again on their hands.

And still we I the UK are sitting on 50 million tons of shale gas.......

Yes I think it will just keep going up and up.

At the moment I'm planning to reduce our usage of heating and we're taking small steps to make our house as good as possible. DH has resealed the outside of all windows and doors (cost about £50) and we've bought a draft excluder for the conservatory door. Bled the radiators, insulated the boiler pipes, watched about 3 hours of youtube to get the boiler flow rate at the most efficient level and we have thick duvets and oodles.

However the more time that goes on, the more I think we might just have to turn the heating off, wrap up warm and deal with it.

I think people should stop worrying about the price cap. It's obvious almost no-one is going to pay that sort of money, they will simply go for the alternative solution of only using as much energy as they can afford.

These threads treating "the price cap" as though it is a government tax we have no choice but to pay are becoming a bit silly now.

God Putin, he's going to destroy us, complete fucker.

As for having no govt and a totally rudderless ship it just beggars belief. Where are all the good leaders?? Everything feels so out of control right now, what happened to take back control??

Aren't we (in the UK) building small nuclear power stations at the moment? Each one will be located outside large towns, small enough so that it can be a converted garage or warehouse but big enough to power 1M homes. Therefore only about 20 of these are needed across the UK.

Why be at odds with Putin or Greta when we can sort it ourselves?

A better use of mental energy would be planning how to get by with less energy. Have people stocked up on thermal underwear?

I'd like to point out that with the right clothes, it's possible to be outdoors in snow, and not be cold.

What about your Standing charge??? Businesses will have to heat somewhat; most British people are employed by SMEs so will lose their jobs. Schools, hospitals?

If it's £10k, even if you don't use much, you still have to use gas for cooking, electricity for lights and internet, the price per kWh would still be very high. Budget minimum £5k and that's if you don't live in a big house or have babies or old people living with you.

I imagine the idea of fracking in the UK will have to be revisited.

When other gas was easily available at sensible prices, fracking a densly populated country was just not viable, home owners with damaged properties or loss of value due to location relative to fracking would have raised up and this would effect election results.

However in the current situtation where the cost of gas, and therefore electricity, is so expensive that generous compensatory schemes could be viably bought in which would "encourage" home owners, most of whom will be stuggling with the ever increasing price cap, to let it go ahead.

Should dying people in hospitals also wear thermal underwear?

Better use of mental energy would be increasing work hours or taking on a second job.

Limiting your showers to 4 minutes a day saves approx. £38 in a year. £38 out of £10000, what possible difference is it going to make!!

It's obvious almost no-one is going to pay that sort of money, they will simply go for the alternative solution of only using as much energy as they can afford

So how the fuck do we do that?

My house is well insulated, has an efficient boiler and uses energy savings bulbs. Am I just supposed to stop using the heating over winter?

should be ready in 30 years??

My guess is that that is the idea of The Great Reset. Yes.

Well I don’t think it will be allowed to happen at least to the extent feared. Though I’m not convinced government paying and then us paying back in tax is much better
it’s not just household bills - this will be devastating to small businesses and there will be spiralling inflation across the board

the Tory party seem to not give a toss generally but when economic disaster stares the new PM in the face I imagine they will wake up

Limiting your showers to 4 minutes a day saves approx. £38 in a year. £38 out of £10000, what possible difference is it going to make!!

Yes but bare in mind - all of the articles that provide tips like this will have been based on the unit rate at the time.

So a saving of £38 a year ago for having 4 minute showers (if hypothetically this is when this was calxulated/ advertised) would be a FAR higher saving now and even more so from October.

There will be no businesses left!

Domestic rates have a cap, there are no caps for commercial rates. I own a pub and was able to fix last year at a rate that will see my bills double. Small businesses that are still in contract now and need to fix another rate over the next year won't be able to afford the rise. We will see many businesses close. Fish and chip shops, chicken shops, take aways and cafes, pub and restaurants will disappear. Village halls, schools, leisure centres, how will they endure this?