Energy news in general

lisyloo

Sea_Shell said:

What options remain though to home owners that have genuinely cut their cloth as far as they can and still can't afford their bills...

Is it Hobson's Choice of downsize or Equity Release?    Or rack up debt?

I agree, if you’ve exhausted other opti9ns then drastic measures may be required. 
I have a budget (as I’m approaching retirement) and yes the big items do stand out, but I’d consider holidays and vehicle options before house.

Mstty

So following my idea that those that will struggle to pay their energy bills downsizing, looks like the people responding were of retirement age and older(sorry if I missed a reply)

We have no intention of spending our last decade(s) struggling to pay energy bills.

We won't be retiring for 22/27 years well not whilst we still enjoy working but when we get there, with our mortgage free house if a cost of living crisis like this came along with news of a recession and we were going to struggle with bills(or at least feel uncomfortable) the for sale sign would be up faster that you can say Putin.

If we don't move (we do every 5-6 years as we renovate and move up as a rule) but if we stayed as is our house is currently a Band E. Locally there is a bungalow (3 bed with a high spec open plan living etc extension with bifolds just to give you a picture) Band D and £75,000 less what we would conservatively sell ours for.

We both have bad knees now and I have a bad back so bungalow is definitely better for us to see us out.

For a moving company to box everything up for us and do everything whilst we drink Horlicks (we have a local malt factory and brewer) and the last thing we do is pop the eze electric recliner to stand us up and they put the two chairs on the Van £4000 at the most expensive end. Even including all that £20k as mentioned is easily doable and £55k pocketed.

I am not saying it's an easy decision, but saying you would rather have stress, anxiety and get yourself into debt rather than releasing money from normally your main asset is just plain stubborn.

Equity release maybe another way to go but I don't like others sticky fingers on my land registry papers.

A 2 bed bungalow well now we are talking about £100,000-125,000 cash in the pocket.

Mind you in 22 years time energy might be that a year🤣🤣

Alnat1

Oooh you don't want a big open plan job. Bungalows lose heat faster too, maybe a small house and a stair-lift?? Small rooms, small bills 

Northern_Wanderer

I think a thick wool duvet to wrap yourself in permanently in winter and single room living is the best option here......perhaps tiny homes will become a thing.....

k_man

Northern_Wanderer said:

I think a thick wool duvet to wrap yourself in permanently in winter and single room living is the best option here......perhaps tiny homes will become a thing.....

Or flats, with neighbours (especially below) that like the heating turned up.

markin

The seems to be a number of people with bills of 6-10K coming and no money to improve the house or pay the bills, So moving seems the obvious or only option.

SAC2334

superkoopauk said:

Suppliers cannot remotely switch you without confirming it is safe to do so.  So unless you give them consent they are going to need to arrange a visit.  And if you are not paying then you are unlikely to let them in so they will need to go down the warrant route.  This will take months.

Can take days if the supplier issues a Warrant of access to fit a smart prepay meter. A locksmith will be used . They enter with the help of the Police if any signs of trouble are encountered. If the property is empty the usual routine is to enter and fit the meter .Replace the locks .Leave a notice on the door with a phone number where to get the new keys .
Its how we have been doing it for years .
Suppliers will normally allow a build up of debt ( somewhere around £500 to £800 ) before they start issuing notices  to increase payments and lower the debts . Its all very civilised in the UK
Rest of the world simply cuts people off when they refuse to pay 

brewerdave

SAC2334 said:

superkoopauk said:

Suppliers cannot remotely switch you without confirming it is safe to do so.  So unless you give them consent they are going to need to arrange a visit.  And if you are not paying then you are unlikely to let them in so they will need to go down the warrant route.  This will take months.

Can take days if the supplier issues a Warrant of access to fit a smart prepay meter. A locksmith will be used . They enter with the help of the Police if any signs of trouble are encountered. If the property is empty the usual routine is to enter and fit the meter .Replace the locks .Leave a notice on the door with a phone number where to get the new keys .
Its how we have been doing it for years .

That's how it works in "normal" times - I have a very strong suspicion that this coming Winter is going to be far from normal !!

brewerdave

Mstty said:

So following my idea that those that will struggle to pay their energy bills downsizing, looks like the people responding were of retirement age and older(sorry if I missed a reply)

We have no intention of spending our last decade(s) struggling to pay energy bills.

We won't be retiring for 22/27 years well not whilst we still enjoy working but when we get there, with our mortgage free house if a cost of living crisis like this came along with news of a recession and we were going to struggle with bills(or at least feel uncomfortable) the for sale sign would be up faster that you can say Putin.

If we don't move (we do every 5-6 years as we renovate and move up as a rule) but if we stayed as is our house is currently a Band E. Locally there is a bungalow (3 bed with a high spec open plan living etc extension with bifolds just to give you a picture) Band D and £75,000 less what we would conservatively sell ours for.

We both have bad knees now and I have a bad back so bungalow is definitely better for us to see us out.

For a moving company to box everything up for us and do everything whilst we drink Horlicks (we have a local malt factory and brewer) and the last thing we do is pop the eze electric recliner to stand us up and they put the two chairs on the Van £4000 at the most expensive end. Even including all that £20k as mentioned is easily doable and £55k pocketed.

I am not saying it's an easy decision, but saying you would rather have stress, anxiety and get yourself into debt rather than releasing money from normally your main asset is just plain stubborn.

Don't intend to add any more to this debate other than to say, see if you still feel that way in your 70s !!. My wife would rather freeze than give up her lovingly developed garden !!

pochase

You also forget to mention that they can just switch smart meters to prepaid.