Energy news in general

Sea_Shell

Mstty said:

So what is better?

Vat off energy or remove the green levies.

For me has to be VAT even though that is the lower amount in the consumers pocket.

BBC News - Tory leadership: Do Liz Truss and Rishi Sunak's tax pledges add up?

https://www.bbc.co.uk/news/uk-politics-62122166

How much are the green levies worth?    More than VAT I assume?

TBH I think that there will be so much public outcry once the October cap (and January) is officially announced, that they will probably be forced into doing both, and worry about how to pay for it later!!!   

We'll see another raft of threads on here, all asking the same things about high DD's and Standing Charges.

brewerdave

Sea_Shell said:

Mstty said:

So what is better?

Vat off energy or remove the green levies.

For me has to be VAT even though that is the lower amount in the consumers pocket.

BBC News - Tory leadership: Do Liz Truss and Rishi Sunak's tax pledges add up?

https://www.bbc.co.uk/news/uk-politics-62122166

How much are the green levies worth?    More than VAT I assume?

TBH I think that there will be so much public outcry once the October cap (and January) is officially announced, that they will probably be forced into doing both, and worry about how to pay for it later!!!   

This morning we saw the Lib Dems answer - tax the oil/gas companies til the pips squeak and keep the current cap - chances of that happening ? Between zero and nil !!

wakeupalarm

Latest prediction from CI

Warning energy prices to hit over £4,200 in January

Sea_Shell

wakeupalarm said:

Latest prediction from CI

Warning energy prices to hit over £4,200 in January

☹️☹️☹️


Many families use far in excess of "typical" use too, so for them £4200 is going to be way way off the mark.

Many of them have no idea just how far over they are.

pochase

Here is the forecast for the next year split by gas and electricity

Mstty

Reality hurts.

1) Give in to Russian demands in the Ukraine (not acceptable)
2) Nationalise the energy industry (not financially viable)
3) Government subsidises energy (not sustainable long term)
4) Spark up the coal power stations (national uproar)
5) Green light all proposed nuclear power stations (national uproar)

Hobson's choice really

Mstty

Oct 2022
Elec 52.3p kWh

Gas 15p kWh

Jan 2023
Elec 66.5p kWh

Gas 17.2p kWh

Apr 2023
Elec 65.7p kWh
Gas 18.8p kWh

July 2023
Elec 53.3p kWh

Gas 16.6p kWh

Average prediction for the next year for those considering a fix

Elec 59.2p kWh

Gas 16.6p kWh

Based on SC remaining the same at £170 for electricity and £100 for gas and figures to one decimal point.

pochase

@Mstty
Unfortunately your calculations for electricity for April 2023 wrong.  An increase of almost £250 is more than 0.2p.

I also checked three times, but it seems we will be going up to 75p for electricity in April 2023.

Edit
I had used the gas price instead of electricity for Q2



That also bring up the average electricity price to 65p. 

Mstty

pochase said:

@Mstty
Unfortunately your calculations for electricity for April 2023 wrong.  An increase of almost £250 is more than 0.2p.

I also checked three times, but it seems we will be going up to 75p for electricity in April 2023.



That also bring up the average electricity price to 65p. 

Your q2 electricity price is wrong on your sheet

pochase

You are correct, I had the gas price instead of electricity.


Somehow that does not make it less scary.