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?

Honestly, I'm not defending the Tories at all. I can't stand the government but these price hikes are pretty much global.
I don't even understand any of it to be honest and it really makes me angry that the government are burning £4bn worth of PPE, energy companies are making huge profits, oil and gas producers have made billions in profits (look at Shell, Exxon and BP) yet us ordinary people are struggling already and worried about the future.
What is going on?

Yes everywhere is suffering, but some countries are spreading the cost rather than expecting lower and medium earners to bear it all.

The money is going somewhere. Tax the benefactors.

Yes, I'm no fan of the Tories but in terms of cost of living issues for most people, things wouldn't be that much different under Labour. This is a global problem.

Schools are going to have to become much more efficient with their energy, I have worked in schools for years and the amount of energy (and resources like paper) that is wasted is shocking.

We've had 12 years of Tory government, Austerity, a divisive Brexit debate, a pandemic, men in women's refuges, sport, hospital wards and prisons, a damaging Brexit that's still going on and a fuck load of corruption and law breaking by the Conservative PM and his party.

You have no idea what Labour would be doing in these circumstances because it's been so long since you had one @Highlyquestionablehoumous. Any of your suppositions are no more than fanfic.🤷‍♀️

Baaaat Layburrrr🐏 is a shit argument.

We decided to fix until 2024 when our current rate runs out at the end of the month - really glad we did now!

Wealthy people will not even notice price hikes. Victoria Beckham paid an extra £6000 to be able to get off the plane first. Crazy to most people.

Not saying people won't celebrate Xmas, but it'll certainly be done on a budget for many.

And still my Brexit, below living wage parents bleat about immigrants. Immigrants are what is draining the economy. We’d all be rich if we weren’t funding people off boatsgetting hotels to live in.

That’s the power of the Tory-funded tabloid media. And it just keeps working. They are completely brainwashed.

Schools are going to have to become much more efficient with their energy, I have worked in schools for years and the amount of energy (and resources like paper) that is wasted is shockin

l worked as a teacher for 26 years. There was no wastage. You have a huge building with lots of people sitting down in it (apart from PE) so lot loving to keep warm. That statement is a load of crap. Let’s just freeze the kids now as there is so much ‘wastage’🙄

Windows will still probably be need to be kept open, but yeah let’s leave the heating off too.

Perhaps if the government invested in ventilation like every other first world country windows wouldn’t need to open and heating costs could be kept down.

Wasn't there some mention of them allowing for monthly price rises after that ?

Quarterly. There's a predicted rise again in January, but it's not significant and then they expect it to drop at the April cap.

@Sadless and others keep mentioning France having much lower energy price rises. It's true they do BECAUSE 75% OF THEIR ENERGY IS FROM NUCLEAR POWER!!!

Therefore they are not exposed to the global price rises in gas etc that we are.

Not comparable

Brexit, promised wage rises, how well off we would all be without the ‘foreigners’ undercutting us all….

Oh wait….

It's going to be a horrific winter.

These are just predictions those and they aren't always that accurate this far out. Cornwall Insights predictions exceed ofgems best guess, so we'll have to see in August.

The Netherlands does not have a left wing government.

Quarterly. There's a predicted rise again in January, but it's not significant and then they expect it to drop at the April cap.

Do you know the reason for the potential drop in April ? Are they expecting the war in Ukraine to be over @FourTeaFallOut ?

My gas and electric bill without the heating on,only the fridge/freezer plugged in,washing machine 3xs a week,tv on a couple of hours a night is £130 a month and that’s giving a reading every month!im absolutely dreading winter!

I don’t know how well manage, right now I need to make £50 last until Tuesday and I have two bills coming out tomorrow. Im already skipping meals to make food last, if our outgoings rise anymore I don’t know what we are going to do!

No I don't know which factor causes the drop, sorry, I don't think it's anything to do with the war though as the drop is fairly marginal. The Cornwall Insight's predicted drop in April brings the average rate down to £2800, from the high point in December at £3000. So it isn't a shift back current rates at £1980 (ish, don't remember those two last figures for certain).

It's going to be grim for many with not much eating or heating and then what, come the following winter? The cost for having the bare minimum appliances working is ridiculous not forgetting the exhorbitant standing charges.

The standing charges really need looking at.

Have you been living under a rock? While they may not be keeping up with inflation, wages are rising at the fastest rate in years. Particularly in certain sectors (lorry drivers etc)