Oh no! Energy hikes prediction 51% in October!

[CherryRipe1]

Not sure if this is in the right section but anyhow, read a tweet from Martin Lewis and Cornwall insights that energy is due to go up another 51 bloody percent in October on top of what we've already had!!. Don't know how to paste a link for Twitter but here's one from the Red tops:
www-dailyrecord-co-uk.cdn.ampproject.org/v/s/www.dailyrecord.co.uk/lifestyle/money/martin-lewis-energy-bill-warning-27287133.amp?amp_gsa=1&amp_js_v=a9&usqp=mq331AQKKAFQArABIIACAw%3D%3D#amp_tf=From%20%251%24s&aoh=16558125613082&referrer=https%3A%2F%2Fwww.google.com&ampshare=https%3A%2F%2Fwww.dailyrecord.co.uk%2Flifestyle%2Fmoney%2Fmartin-lewis-energy-bill-warning-27287133
This is unsustainable, something's got to give. How the hell are many going to afford it what with all the other rises, food, rents, mortgages etc?

Yeah, another 51% is crazy. If the increase is applied evenl

...evenly to gas and electricity then I think that brings electricity to 42p/kWh and gas to 11p/gas. That's mad, this time last year my tariff was 16p and 2.2p respectively.

Things are going to get worse and worse and worse.
Commuting will become so expensive it won't be worth it.
Trains and buses will soon be costing 20% more.
Petrol will continue up and up, we'll see 250 soon.
Imports and food will be up.

Go fond the people who voted Tory and Leave. Shake their hands and thank them.

What are we all supposed to do. People won't be able to manage.

Crazy times. Something's got to give. Question is what?

I don't get how people will survive.

Our monthly outgoing have gone crazy.

£2400 on nursery
£1300 on housing
£400 on a season ticket
£200 on council tax

Were £4300 a month down before gas, electric, fuel and food.

It's getting to the point where I can't afford to work, but if I give up my career I'll never get back in.

I imagine as fuel prices rise other costs like childcare, groceries and transport will also rise as they pass on extra costs to the consumer. It's going to be very, very difficult.

Profit?

Despite my feelings about the Tories, I don't think you can blame them. This seems to be worldwide.
Thank the stars we don't pay for our healthcare as countries are seeing price rises there too.

I can't believe that there are still people who think you ''cant blame the Tories'' as @Charles11 just did...

You only have to compare what is happening in countries like France and other EU countries. They have had very small increases in energy prices. The tories have no issue with energy providers making a fortune out of people's misery.

As for the NHS the same Tories would love to privatise it and have spent the past decade under-funding it...

Nice try, but only someone who is in complete denial would think that Brexit and the current corrupt government have nothing to do with the mess we are in...

Diesel has gone up 4p in the last week. It will be £2 in no time going by that. We should be rioting.

But there is no point having ‘free healthcare’ if you can’t even see a doctor!

It’s not free either.

51% is absolutely shocking

Well Brexit has less to do energy prices than the fact we disbanded our storage facilities, privatised the utilities, Ofgem asleep at the fucking wheel and allowed the general 'yuk' factor about nuclear power in the public inform our long term energy strategies for decades on end. Brexit doesn't touch the sides.

Boris Johnson could have done the same as France with capping it at 4%. They can but decided not to just let people suffer. They are giving bits of money to help with the cost of living but it's not going to cover much at all.
I was watching sky news last night and people on there where talking about eating or heating. I am struggling to pay for the electricity now with a rise of around £70 a month. Haven't had heating on since April so it will definitely be eating or heating in winter.
It's definitely worrying how people will manage to survive when winter comes.

Sal

I'm not saying that we haven't arrived at this point through political incompetence. I'm just saying that Brexit isn't doing much heavy lifting here.

I am totally miffed how average households will be able to afford the basics after the October rise. There is only so much disposal income people have and cancelling the Netflix subscription is not going to do much.

Will there be an increase in evictions? If so, where will they be housed if forced from private rents. It is mind boggling. How many people can claim universal credit before that system buckles and becomes unaffordable?

I am not convinced that our government is strong enough or minded to provide the necessary support. I do not even know what the answer is anymore.

It doesn't help that we haven't hit peak food inflation yet either, so budgeting to meet the inflated energy prices in October is made harder still. I'm not sure how this ends either, it's hard to be optimistic.

I was listening to R4 last night and an economist predicted 11% inflation this year and 6% in 2023. That's huge and tbh I think inflation is already higher than 11% this year.

It makes you wonder if we’ll all get forced into a war because people won’t be able to afford their lives anymore.

Do you mean forced into a war to boost the economy?

I and it's obviously not just our homes but everywhere.
I saw my sons school energy bill. Horrific.

I don't know what schools will do come winter, keep the windows open to reduce the spread of covid or keep them shut to stop the heat leaving. How do you square that circle?

How are the tories/brexit responsible for energy costs in California or the Netherlands? Both country and state operating under “left wing” governments and being oil producers.

Forced into a war if the Russian offensive against Ukraine looks to last a decade. I know is only part of the problem bu it’s certainly having an impact.