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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

AIBU to worry about a U-turn on the energy price cap?

159 replies

DahliaMacNamara · 14/10/2022 13:27

I have no idea if they can or would do this. If someone can explain why it would never happen, that'll make it a nice short thread. Anyone?

OP posts:
DomesticShortHair · 17/10/2022 15:50

GasPanic · 17/10/2022 15:41

Yes it will impact future E&P.

If you are a corporate and have a choice between investing in a country that has a stable and long term corporation tax policy, or one that has a policy that changes at random depending on a number of political factors then you will invest in the first not the second, especially if you are going to invest for decades in infrastructure.

The North Sea is not looked on as a great place to invest in E&P. There are many more lucrative areas around the world. So a poor tax environment is not going to help that at all.

If you want to cite BP as a particular example, yes it has profited from North Sea operations because of Russia. But it has also had to write down a lot of investments that it had in Russia, so as a business it is swings and roundabouts. It also isn't that big a producer (maybe 4th or 5th largest) in the North Sea.

Most people seem to have forgotten there is already been a windfall tax in place by the UK on North Sea profits.

As for the EU efforts, a significant proportion of the EU energy sector is public owned. So it's probably just a smoke and mirrors exercise.

Generally I'm supportive of taxing companies who wriggle out of paying enough tax - there are several large ones that do this. But taxing energy companies when we actually need more not less investment in energy (oil and gas as well as renewables) seems like madness to me, and probably is going to be long term counterproductive to energy security.

Show quote history

I agree, but be warned, nobody will lend you a pitchfork with that kind of logical attitude.

whatsthestory123 · 17/10/2022 15:58

so a guarantee is not a guarantee

have to agree those running expensive equipment for health reasons need more help

WeBuiltCisCityOnSexistRoles · 17/10/2022 16:19

*"One you've got time to do this now.
Two I think you are going to be a very hard group to ignore.

I think the public's sense of what is fair really does allow for protections along these lines."*

@RedToothBrush the erosion of womens rights over the past couple of years, and the publics lack of interest, doesn't give me much hope for protection here! But I agree we need to be, well not "shouting the loudest", but certainly at the forefront of protest/campaigning. Like you say, it's hard to ignore someone pointing out they need funds to use oxygen/a hoist etc and it doesn't help the government's usual strategy of look over there, people on benefits are getting more than you or should people on 40k be subsidised to run a hot tub - off you go and fight amongst yourselves so you aren't fighting the government...

WeBuiltCisCityOnSexistRoles · 17/10/2022 16:35

@Garysmum I agree with all your points. People forget in their rush to condemn people saying they can't make ends meet when they are "privileged" to be earning 50k, that it's not just income it's outgoings. People are being shafted by extortionate rents and mortgages based on extortionate house prices (driven by the governments lack of investment in housing amongst other factors) We aren't anywhere near earning 50k as a family but it doesn't mean I don't have sympathy and empathy for people in that boat. Fuel, housing, childcare, energy, cost of food etc... it affects families like this and also their children. People having zero sympathy for these families (sometimes due to envy and resentment) ignores the impact on their DC. For example they are also affected when they have to move from their two bedroom house that costs £1400 in rent to a one bedroom flat for £950 where their parents sleep in the lounge, or when they face repossession for defaulting on their mortgage, and become unwell from stress.

It's not a race to the bottom and I despise the government for (sadly successfully) encouraging resentment, envy and arguing amongst ourselves instead of looking at the bigger picture.

PS Please claim PIP if you are entitled, I know it's an awful process, stressful and upsetting, but it will give you more protection in the current climate, I feel a lot of the "thresholds" for support will use this as a criteria. For example, we got an additional £150 on top of the COL support (admittedly an absolute drop in the ocean against the bills for a lot of people with extra equipment/energy needs Hmm)

Boomboom22 · 17/10/2022 17:28

Thing with the benefits though, someone said they want them to be poorer than them, but of course? It is right that people who cannot work are supported but who is actually arguing they should be genuinely richer than say a couple working on minimum wage. Most disabled people can work somewhat, maybe pt maybe ft. So disabled benefits should be about helping raise standards not paying you to live. Ie to help the person make adjustments they need.
Carers allowance should be far far higher as it is based on ft work essentially, maybe close to nmw. But other benefits cannot outpay the lowest work or the whole system starts to fail.
Pp attitudes are partly why voters are scared of labour. Under the last Labour gov tax credits were very generous, to the point most people I know clear a similar amount now they earn double that.

DamnUserName21 · 17/10/2022 17:49

I'm not worried.
It will be political suicide for energy cap not be extended if prices continue to rise, do not reduce or stay at current level after April 2023. Ever closer to an election isn't it!

DamnUserName21 · 17/10/2022 17:52

The Tories are pretty good at pulling money out of a magic hat (or from a magic money tree) when suits them!

DomesticShortHair · 17/10/2022 18:23

DamnUserName21 · 17/10/2022 17:49

I'm not worried.
It will be political suicide for energy cap not be extended if prices continue to rise, do not reduce or stay at current level after April 2023. Ever closer to an election isn't it!

This is what I think too. Although, I’m prepared to accept that’s probably of the biased and wishful type.

woff45 · 17/10/2022 18:42

It will be political suicide for energy cap not be extended if prices continue to rise, do not reduce or stay at current level after April 2023.

I think the Tories are well and truly past political suicide, they are firmly in "nothing left to lose" territory, and who the fuck knows what that'll bring.

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