News: Energy bills to rise by £700/yr for many | Chancellor unveils up to £350 households support

gt94sss2

Energy price rise includes £68 for failed firms, says Ofgem

https://www.bbc.co.uk/news/business-60257448

EssexHebridean

Aauk25 said:

JonVarnas said:

Aauk25 said:

JonVarnas said:

Aauk25 said:

Aauk25 said:

Any experts help me out here, im currently paying £1300 a year and fixed rate ends this month. I have been offered  a 1 year exclusive by Scottish Power which works out £2200 a year fixed till June 2023. Im tempted to switch, im an average user.

any suggestions? 

Thanks 

Electricity 

New.                                Current

Standing charge

21.64p.                             19.31

Primary unit rate

27.02p.                              15.35

) Gas

New

Standing charge

21.64p.                               19.31

Primary unit rate

7.18p.                                  2.88

Should I switch or stay put?

my usage on average is 

14500 Gas and 3900 Electricity

Oof, that's a lot of gas. Is your boiler firing on all cylinders 24/7?

Really? apparently this is average. I do live in a detached house with 4 bedrooms and I don’t have upstairs heating on when not required i.e during the day. As per my bill I’m an average user too. Do u live alone in a little bungalow? 

I do live alone in a flat, but my gas usage is only 1200kWh a year so seeing 14500kWh is a bit of a "eh, what?"

1200? thats not even low.. that’s literally nothing, it must cost you more for the daily standard charge! than actual usage

You think his is low, you want to see mine...!  (put it this way - until last year I was on a zero standing charge tariff and my monthly DD was £2 - and even that ran in credit!) 

gandpmudd

I read today on MSE that ALL users will get the £200 "loan". Does this mean also users with a good fix already in place?

GingerTim

gandpmudd said:

I read today on MSE that ALL users will get the £200 "loan". Does this mean also users with a good fix already in place?

Yes, everyone will receive the rebate and everyone will repay it.

randalf72

Looking at what few details there are relating to the energy loan, and it appears to be tied into a bill rather than a property. 

Some people will do pretty badly out of it, say if you are sharing the bills currently but move out as the loan is needing to be repaid meaning you get the bill but never receive the loan. 

So I got to thinking if you have a separate supplier for your gas and electric then would you receive 2 x £200 as you have two energy bills?

would it therefore be worth splitting your gas and electric supplier now until the loan has been received then go back to the same supplier again so you only repay half the loan?

NannaH

Car1980 said:

I'm on a fixed tariff with Octopus until May 2023. Nice to see taxpayer's money being wasted on people like me who don't need any £200 loan.

Now I'll have to faff about with direct debits amounts in an attempt to basically give the £200 back.

They’ve actually used common sense with this for a change : it costs less to give it to everyone than to means test ( with all the extra admin that goes with it). 
Like it would have cost less to give every working age adult in the country £1000 a month instead of the covid furlough and business loan schemes! 

GingerTim

randalf72 said:

Looking at what few details there are relating to the energy loan, and it appears to be tied into a bill rather than a property. 

Some people will do pretty badly out of it, say if you are sharing the bills currently but move out as the loan is needing to be repaid meaning you get the bill but never receive the loan. 

So I got to thinking if you have a separate supplier for your gas and electric then would you receive 2 x £200 as you have two energy bills?

would it therefore be worth splitting your gas and electric supplier now until the loan has been received then go back to the same supplier again so you only repay half the loan?

No, because the £200 is only applied to electricity bills (and repaid through electricity bills).

EssexHebridean

randalf72 said:

Some people will do pretty badly out of it, say if you are sharing the bills currently but move out as the loan is needing to be repaid meaning you get the bill but never receive the loan. 

Some people will do pretty well out of it - say if you are living alone currently, but then move in with a partner, or to a house-share as the loan is needing to be repaid meaning you get the loan but only repay half the bill... 

NorthYorkie

roddydogs said:

So what happens to the "loan" if you die, move house or change provider within 5 yrs?

The first point is to stop calling the £200 reduction a loan. Its simply a one-off grant that is obligatory. Receipt of this grant is in no way related to the £40 per year to be added to electricity bills over the following 5 years. That £40 is actually a tax on ALL electricity bills over that period, regardless of whether the householder received the benefit of the £200 grant.

As, in five years time, there should be more households than at present, the Government should actually make a profit.

Astria

As, in five years time, there should be more households than at present, the Government should actually make a profit.

And that's what it's all about I bet - a stealth tax under the disguise of "We are helping you with your energy bills".

You can bet that in 5 years it won't be removed from the energy bills either!