New budget unmakes the energy cap?

[uiyo7987]

I was really stressed regarding energy bills throughout August and tes it was good we now have the cap. But with interest rates going through the roof, predicted cuts in public sector expenditures - it just feels like this is unmasking it all. It will cost us more in mortgage give than what we saved on energy. So am still stressed, when will this end?

Obviously, depends on the amount of mortgage, whether you have fixed rate, the amount of fuel you use, whether you earn over £150K etc.

That said, despite the variable above - yes, in general, people with an "average" mortgage and an "average" energy usage will now pay more due to interest rate rises (currently assumed that inflation will hit 10% next year, and interest rates will hit 6%)

Yes, in our case we live in the south east so have an above average mortgage but dont earn anywhere near 150k each. I now wish they'd left everything alone