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?

But some people have to pay it.
Disabled/sick people who rely on machines to keep them alive. Families with small kids and babies, the elderly.
My grandmother is 95 and if she had no heating it would kill her. There is just no choice for some unless maybe they just quietly die.

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?

The thread is about the energy cap, which applies to household bills, let's stick to one subject, unless you agree it's been dealt with?

If it's £10k

The standing charge is about £200 a year at the moment. What do you think it's going to be in future?

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

It's heating (including hot water) the consumes nearly all the kwh. All the rest put together is a small amount. Average electricitiy consumption is 2800kwh per year, I don't know what rate Cornwall are predicting, but we are still talking at most 2000 pounds for everything else, rather than 5,000 or 10,000.

Everyone can and should try to reduce their energy consumption, but reducing it by 10 or even 20% when bills are going up by 100% or more is very dispiriting

very tough times ahead

Time to turn off all the plugs in the house , turn them on to use the appliance.

Fracking won’t even scratch the surface of what is needed (too slow, costly, and the stocks in the UK are far too small). We need to invest in renewables and nuclear, as well as insulation, heat pumps, etc. to stop reliance on gas.

Just wondering is it this bad in Europe? What are other countries doing?

the Insulate Britain protestors took a lot of flack but they were right that this is an emergency. If the government had spent more time listening to them and doing what they asked and less time legislating to restrict the right to protest then we'd be a year ahead in some of the changes needed to restrict energy use.

Also if you're planning to use a swimming pool in the next year I'd say do it now. I can't see any council pools being open past November, and mass market gyms will be closing theirs as well.

Our cities will be darker at night. Children will be wearing jumpers instead of T shirts in nurseries, everyone will be keeping their coats on in communal buildings. Some of this is beneficial, but we desperately need to protect the vulnerable poor.

A price hike in April 2023 won't necessarily start to bite until mid October 2023 when the heating goes on - although business customers will have felt it earlier. That gives one more year before complete disaster. The government needs a committee of experts to address the crisis by all means available (alternative supply, energy saving, economic support for the vulnerable, windfall taxes) and without ideological blinkers. I'm not holding my breath.

Domestic rates have a cap unlike commercial rates. If domestic rates are so high, commercial rates would be even higher. That has a knock on effect

My gas bill actually is relatively low. I live in a top floor 2 bed flat and actually don't need to heat much. Most of my kWh is electricity. Energy saving bulbs and a very efficient fridge. Do 2 laundry loads a week (not very Mumsnet) in an A rated washer dryer. Don't even own a TV. Mortgage is actually in line with uk average despite in London. But this level of inflation will inflate my mortgage interest rate which will impact me when I upsize my flat or remortgage.

France is insulated by its extensive nuclear supply. Germany is very worried indeed about simply running out of fuel, and is cutting back on energy use amp.theguardian.com/world/2022/aug/24/germany-approves-limit-on-heating-public-buildings-to-save-energy. Italy is facing huge price rises and considering boosting supply from its elderly coal fired power plants.

True, still makes the 4 minute shower a tiny impact, however they were quoting around £100 per degree for the thermostat, which for (weirdos!) like my DB/SIL who have theirs set at 23C, when the £100 is multiplied up relative to the increasing prices would be significant if they dropped to 18C.

We already set ours at 18-19C, which is an ongoing bone of contention between Perimenopausal me and DH, but any lower and we get damp problems in our 180 yo stone cottage (we already have Meaco dehumidfiers before anyone offers that very resonable advice).

I still think the safest option is to try and work our way out of it, obviously we are doing budget reviews, a few improvement to insulation (already very insulated) but I think the articles quoting these figures for these effiency changes are patronising and potentailly dangerous as they will lead some to believe that this is enough.

Thanks will take a look at that article

Our usual spend on gas is around £750 a year. For that, we get hot water and a house that is occasionally heated to a maximum of 18 degrees (ie not all day or even most of the day at 18, not all rooms heated). Predicted spend this year is close to £3k, and that’s before the forthcoming increase.

I could turn the heating off more, or turn the thermostat to 17 - but that’s not going to make much difference when the cost has gone up so much.

I’ll be buying thermals for all (already got Oodies from last year) & a heated throw for me as I work from home (currently only heat the room I’m in during winter if it is really cold).

We’ll cope, but the total lack of response/understanding from the government about the millions who won’t (before we even start on small business costs and the knock on effect on the whole economy of even comfortably off households having less to spend) is appalling.

This is a national crisis and no government minister was available to speak on Radio 4 this morning.

www.electricrate.com/data-center/electricity-prices-by-country/

Quick answer is yes.
Half look worse?

Why I give anyone using the B word about it, short shrift.

I dont have much patience left for the G brigade either.

the technology is being funded it’s yet to be realised and even then even if it were good to go we are looking at 5-10 years.

it’s a good long term option but doesn’t help short term

Ours is set to 16 but only switched on when it really starts to bite. Don’t see the point on having heating turning on, on a chilly summer evening.

we also normally only stick a heating boost on in the morning, and wrap up warm when it gets cold. Yes when it really drops it’s on a lot more but we are not a T-shirt weather in the winter house

Many people with lung conditions need warm air to breathe in.

Sticking on a jumper doesnt cut it.

Well, some on MN are against adult DC living at home but that's the only way both me and DS can manage. He can't afford to rent elsewhere and it makes no sense for us to have 2× rent and 2x bills when there's plenty of room here. He did live alone abroad at one stage but covid put paid to that. Now he'll be here for the foreseeable. Luckily we get on and he pulls his weight. We will manage if we both stay in work. Luckily we're both public sector so should be OK. But young people moving into their own place is going to become a luxury many can't afford.

I can't see prices ever coming back down to what they were. That never happens as far as I can see. There has to be a limit to how high they go though before the government has no choice but to do something. I thought that £400 would help but after working it out, it won't go far. You actually only get £60-£70 pm over 6 months (well that's what I will get as on prepayment meters) and it looks like that will only cover a few days.

Despite people saying "we managed it in the 70's" well yes I mean I suppose I survived. But I still remember having to sleep with my next day's clothes in my bed so they wouldn't be stiff with cold in the morning and jostling for a place by the only fire. Bulking out every meal with several slices of bread. It was grim. I thought we'd progressed from that for the most part.

The news on sky just now was very grim with their predictions for the caps to go higher next year.
Meanwhile, over in Russia , they are burning off the fuel as they have too much of it :(
Crazy worrying awful times.

I'm a bit confused about our consumption. Our estimated usage for the year is 8000 kWh for electricity and 7000 kWh for gas. We have an induction cooker, so the only gas we use is central heating. Our electricity consumption is almost 3 times the average (family of 5 in a 3-bed semi). Where am I going wrong with the electricity??

This doesn’t make much of a difference.

Fracking is also an environmental nightmare, the US destroyed much of Ohio and Pennsylvania with fracking.

What will happen to people that are pay as you go like me, who won't be able to top it up? It's genuinely worrying to be honest. I know people who will get into serious debt who pay direct debit. But I've not heard about people that pay as you go. I'm hoping it doesn't come to this ever.

You’ll join the ranks of the thousands who are called “self-disconnected” (I hate the term as it implies choice)
No gas. No electricity.
Hopefully food banks will start carrying energy vouchers for you to use.
I know some councils are trying to put together warm places…like libraries where people can go for unlimited time to stay warm during opening hours.

www.theguardian.com/society/2022/may/15/watchdog-urged-to-step-in-as-uk-poorest-turn-off-energy-supply