[News] Energy bills to top £4200 at the start of next year

[Marty___Mcfly]

a major benefit of the tariff deficit fund is it doesnt outright cost anything, funds are loaned and government is guarantor, so only spends anything if a company goes bust. down side is permenantly higher bills for the next decade, that was expected to happen anyway. this is the easiest decision new PM will have to make this week. what they then need to do is come up with a sensible energy policy, sell that to the public so we can not face this problem again in a few years when everyone is running EVs and we realise we dont actually have enough electricity.

Thanks - that makes sense. As a political decision this seems like the most sensible option for domestic customers. Any ideas on the plans for business customers?

Long term I can see the logic in maximising domestic production which is not reliant on fossil fuels as the cost of gas is likely to stay high and the international price takes the whole thing out of uk government control.

Interesting seeing the current breakdown https://grid.iamkate.com Gas powered seems to normally be about 50% of the mix so there is a huge job to replace that with non-fossil alternatives (renewables / nuclear). Any gas we can obtain domestically (North Sea) would need to be directed to heating (boilers).

 

[Mental Lental]

https://eand.co/this-winter-collapse-is-coming-to-britain-72ace84ab0b4

 

[BLOCK F]

https://eand.co/this-winter-collapse-is-coming-to-britain-72ace84ab0b4

I think Umair needs to lie down in a darkened room.
Reading that makes me think, I wouldn’t like him next to me in the trenches.

 

[nicko31]

https://eand.co/this-winter-collapse-is-coming-to-britain-72ace84ab0b4

The effect is the consumer is one thing but the effect on business ia happening here and now. Months of zombie government have done a lot of damage, I hope there is some assistance coming or we're looking at business collapses across multiple sectors.

Time for clarity and leadership...

 

[BLOCK F]

The effect is the consumer is one thing but the effect on business ia happening here and now. Months of zombie government have done a lot of damage, I hope there is some assistance coming or we're looking at business collapses across multiple sectors.

Time for clarity and leadership...

I’m sure there will be.
Failure to provide support would be a disaster.

 

[Ethelwulf]

We got the eon v18 fixed tariff with no exit fees due to start October 1st a quick question if someone could be so kind to answer .
Which worked out at £3800 a year
If the government does cap the bills at just under £2000 as no exit fee could I just cancel the fixed above tariff with eon before it starts or will I have to go to a new supplier or would they included in the policy a scrapping of people on fixed tariffs so everyone would go on to the new cap ? . Cant get through to anyone at EON next to ask

Thank you

 

[Bozza]

We got the eon v18 fixed tariff with no exit fees due to start October 1st a quick question if someone could be so kind to answer .
Which worked out at £3800 a year
If the government does cap the bills at just under £2000 as no exit fee could I just cancel the fixed above tariff with eon before it starts or will I have to go to a new supplier or would they included in the policy a scrapping of people on fixed tariffs so everyone would go on to the new cap ? . Cant get through to anyone at EON next to ask

Thank you

Firstly five EON a break, as there is no way they could give you a definitive answer on something currently so hypothetical. Let them try to deal with people who have a genuine need for customer service now, see what gets announced and then look to cross that particular bridge if it looks like you need to. Should the cap be frozen, then I would expect all suppliers to lower those paying above the cap level back down to the cap, but we'll have to wait and see.

We're in a similar position, but v22, or similar, meaning a HUGE theoretical cap for us now, but also with no exit fee. As you've probably found, there doesn't seem to be any information nor way to "escape" the deal online, suggesting it may have to be done over the phone. We're just going to sit tight and see what emerges, but I would expect us to either be lowered to the frozen cap fevel automatically or we request a no-fee exit from the fixed deal to return back to variable and the frozen cap.

 

[WATFORD zero]

The Government cap is not a cap on bills, it is a cap of cost of units. The figures being quoted are for the 'average' household and may not have any bearing whatsoever on what you pay.

In order to find out how the 'cap' will effect you, you need to work out how much energy you use and the 'capped' unit rate for your individual bill.

*edit* seeing reply above, sorry if I've misunderstood

 

[Da Man Clay]

We got the eon v18 fixed tariff with no exit fees due to start October 1st a quick question if someone could be so kind to answer .
Which worked out at £3800 a year
If the government does cap the bills at just under £2000 as no exit fee could I just cancel the fixed above tariff with eon before it starts or will I have to go to a new supplier or would they included in the policy a scrapping of people on fixed tariffs so everyone would go on to the new cap ? . Cant get through to anyone at EON next to ask

Thank you

Difficult for anyone to know at this stage really. It’s a policy which hasn’t even been announced yet. Given the government is generally dreadful on detail trying to get some clarity on something which might not even happen is ambitious!

 

[AmexRuislip]

Firstly five EON a break, as there is no way they could give you a definitive answer on something currently so hypothetical. Let them try to deal with people who have a genuine need for customer service now, see what gets announced and then look to cross that particular bridge if it looks like you need to. Should the cap be frozen, then I would expect all suppliers to lower those paying above the cap level back down to the cap, but we'll have to wait and see.

We're in a similar position, but v22, or similar, meaning a HUGE theoretical cap for us now, but also with no exit fee. As you've probably found, there doesn't seem to be any information nor way to "escape" the deal online, suggesting it may have to be done over the phone. We're just going to sit tight and see what emerges, but I would expect us to either be lowered to the frozen cap fevel automatically or we request a no-fee exit from the fixed deal to return back to variable and the frozen cap.

Ours is a Fixed 2 year v13

 

[Ethelwulf]

Firstly five EON a break, as there is no way they could give you a definitive answer on something currently so hypothetical. Let them try to deal with people who have a genuine need for customer service now, see what gets announced and then look to cross that particular bridge if it looks like you need to. Should the cap be frozen, then I would expect all suppliers to lower those paying above the cap level back down to the cap, but we'll have to wait and see.

We're in a similar position, but v22, or similar, meaning a HUGE theoretical cap for us now, but also with no exit fee. As you've probably found, there doesn't seem to be any information nor way to "escape" the deal online, suggesting it may have to be done over the phone. We're just going to sit tight and see what emerges, but I would expect us to either be lowered to the frozen cap fevel automatically or we request a no-fee exit from the fixed deal to return back to variable and the frozen cap.

Agree Bozza . Just in a bit of a tiswas as single dad with 3 kids and first grandchild on way. Work all the hours but money is tight

 

[Weststander]

Widely reported tonight that the government may well set the domestic price cap, via Ofgem, at today’s average £1,971 until March 2024.

If that pans out, at a stroke it’ll do away with the £3,549 and ever higher numbers forecast from the growing mini industry of ‘energy analysts’ trumping each other daily and grabbing the spotlight.

The eye catching £4,400 thread title would need revision

Perhaps this isn’t a good time to sign up to an incredibly expensive fixed deal!

 

[LamieRobertson]

Widely reported tonight that the government may well set the domestic price cap, via Ofgem, at today’s average £1,971 until March 2024.

If that pans out, at a stroke it’ll do away with the £3,549 and ever higher numbers forecast from the growing mini industry of ‘energy analysts’ trumping each other daily and grabbing the spotlight.

The eye catching £4,400 thread title would need revision

Perhaps this isn’t a good time to sign up to an incredibly expensive fixed deal!

View attachment 151588

Any talk on what they’d offer businesses…and ‘energy’ reform

 

[Weststander]

Any talk on what they’d offer businesses

Businesses, schools and hospitals - something similar, but funded differently. Has to happen, hospitality businesses which were on (much better than domestic) commercial energy contracts which naturally came to an end, have talked of £8,000 becoming £60,000. Now, not forecast. Otherwise, mass liquidations and unemployment.

Newsnight right now covering a Leicester textiles business where the energy bills are rising from £0.4m to £2.1m. 200 folk being made redundant as it closes.

 

[LamieRobertson]

Businesses, schools and hospitals - something similar, but funded differently. Has to happen, hospitality businesses which were on (much better than domestic) commercial energy contracts which naturally came to an end, have talked of £8,000 becoming £60,000. Now, not forecast. Otherwise, mass liquidations and unemployment.

Newsnight right now covering a Leicester textiles business where the energy bills are rising from £0.4m to £2.1m. 200 folk being made redundant as it closes.

Agreed….I’ve seen even worse examples …help but with a plan for the future with realistic targets re ‘green’ issues not just headline grabbers

 

[Weststander]

Agreed….I’ve seen even worse examples …help but with a plan for the future with realistic targets re ‘green’ issues not just headline grabbers

I got the impression over the last few days

- instant help now, as we’re discussing.
- medium to long term changes eg mini nuclear stations, how to untie us of from exporting our North Sea gas to Europe then buying it back at sky high rates (determined by Putin’s attempts to crush Germany/Italy/Poland), ending ludicrous contracts given to now billionaire producers of renewables.

 

[spence]

Widely reported tonight that the government may well set the domestic price cap, via Ofgem, at today’s average £1,971 until March 2024.

If that pans out, at a stroke it’ll do away with the £3,549 and ever higher numbers forecast from the growing mini industry of ‘energy analysts’ trumping each other daily and grabbing the spotlight.

The eye catching £4,400 thread title would need revision

Perhaps this isn’t a good time to sign up to an incredibly expensive fixed deal!

View attachment 151588

Liz Truss getting off to a great start and keeping to her word? New era dawning?

 

[The Clamp]

Liz Truss getting off to a great start and keeping to her word? New era dawning?

If people weren’t facing poverty, yours would be a mildly amusing spoof account.

 

[Seasider78]

Widely reported tonight that the government may well set the domestic price cap, via Ofgem, at today’s average £1,971 until March 2024.

If that pans out, at a stroke it’ll do away with the £3,549 and ever higher numbers forecast from the growing mini industry of ‘energy analysts’ trumping each other daily and grabbing the spotlight.

The eye catching £4,400 thread title would need revision

Perhaps this isn’t a good time to sign up to an incredibly expensive fixed deal!

View attachment 151588

This would be a welcome move but needs to be combined with strong windfall taxes on the energy providers so we do not see a situation where taxpayers money is further contributing to record multi billion profits.

 

[Westdene Seagull]

This would be a welcome move but needs to be combined with strong windfall taxes on the energy providers so we do not see a situation where taxpayers money is further contributing to record multi billion profits.

Agree with you but it does need to ensure the energy generators are the ones hit with windfall taxes - the likes of BP and Shell - rather than the energy suppliers. Of course there is a sting in the tail about the loan scheme to energy suppliers - it won't be them paying it back, it will be us albeit over the next 10 to 20 years.