Existing price hikes and the new ones to come

fiddlesticks0

The energy issue is obviously all over the news today but there doesn't seem to be much acknowledgement in the press that for many prices have already shot up. This week my fix came to an end and my new payments on the standard variable tariff (based correctly on my usage) have gone up 54%

Re the ~50% increase coming in April, does anyone understand what the '£200' rebate that is being predicted actually means - reading various sources I'm not certain whether this would be the average figure or not. As the new average cap is going to be around £2000, does it mean there will be around a 10% rebate?

On the face of it this means that by April my energy costs so far this year will have gone up 54% in Feb, then another 40% on top of that come April (the 50% price cap increase less 10% rebate)? 

emmajones1976

Nobody knows until Rishi opens his gob later, you know as much as we do.

fiddlesticks0

emmajones1976 said:

Nobody knows until Rishi opens his gob later, you know as much as we do.

I'm aware we don't know for sure, but I'd have thought that given everyone reporting the fact a '£200' rebate is expected should spell out exactly what this means - if it's an average of £200 that is being predicted, does that mean around a 10% rebate? 

emmajones1976

Again, nobody knows until its announced later. Unless there is a Government minister on here, you wont get a 100% answer 

fiddlesticks0

Geez, so my Feb 54% increase is going to be matched by another 54% rise come April as it stands with the new cap increase.

fiddlesticks0

emmajones1976 said:

Again, nobody knows until its announced later. Unless there is a Government minister on here, you wont get a 100% answer 

Again, I'm aware of that. I'm asking about the details of what is being reported as it is not clear to me, I'm not asking for anyone to get their crystal ball out for what's going to be announced at 5.

spot1034

fiddlesticks0 said:

emmajones1976 said:

Again, nobody knows until its announced later. Unless there is a Government minister on here, you wont get a 100% answer 

Again, I'm aware of that. I'm asking about the details of what is being reported as it is not clear to me, I'm not asking for anyone to get their crystal ball out for what's going to be announced at 5.

Before then, statement at 11.30 - press conference at 5. 

[Deleted User]

I was reading in a local press source that the rebate is more of a loan - so its paid directly to the energy companies and you pay it back next year through higher bills

MWT

fiddlesticks0 said:

Re the ~50% increase coming in April, does anyone understand what the '£200' rebate that is being predicted actually means - reading various sources I'm not certain whether this would be the average figure or not. As the new average cap is going to be around £2000, does it mean there will be around a 10% rebate?

Firstly I would not assume that everyone gets the £200 (if indeed is is £200), and secondly, no, you can't just take the cap and translate the £200 into a percentage.

If it is a flat rate £200 then for those using less energy than a typical user the percentage would be higher, for those using more the percentage would be lower.

Far too little detail right now to even be guessing at the impact.

fiddlesticks0

MWT said:

fiddlesticks0 said:

Re the ~50% increase coming in April, does anyone understand what the '£200' rebate that is being predicted actually means - reading various sources I'm not certain whether this would be the average figure or not. As the new average cap is going to be around £2000, does it mean there will be around a 10% rebate?

Firstly I would not assume that everyone gets the £200 (if indeed is is £200), and secondly, no, you can't just take the cap and translate the £200 into a percentage.

If it is a flat rate £200 then for those using less energy than a typical user the percentage would be higher, for those using more the percentage would be lower.

Far too little detail right now to even be guessing at the impact.

So it's £200 upfront but to be repaid so that's no change in the planned increased costs overall. For those outside England we'll have to wait to see what they will do re the council tax reduction.