How can I opt out of the £200 energy scheme?

QrizB

for people wanting to opt out, I've come up with some options (posted here).

I'm sure there are other ways too that haven't occurred to me yet.

wild666

11p per day on the standing charges? Will the standing charges be reduced by 11p after 5 years, I don't think so the £40 extra that we pay for 5 years will be rolled into the price of the bills. It's a stealth tax by another means.

dander

wild666 said:

11p per day on the standing charges? Will the standing charges be reduced by 11p after 5 years, I don't think so the £40 extra that we pay for 5 years will be rolled into the price of the bills. It's a stealth tax by another means.

Fully agree. This is about getting a permanent increase in standing charges embedded. at the end of the 5 years, we'll be told it's a low carbon surcharge, or green booster or some such and the fee will stay.

QrizB

wild666 said:

11p per day on the standing charges? Will the standing charges be reduced by 11p after 5 years, I don't think so

and

dander said:

Fully agree.

The calculation of the Ofgem cap is transparent; you can see all the factors they take into account on their website.

victor2

dander said:

wild666 said:

11p per day on the standing charges? Will the standing charges be reduced by 11p after 5 years, I don't think so the £40 extra that we pay for 5 years will be rolled into the price of the bills. It's a stealth tax by another means.

Fully agree. This is about getting a permanent increase in standing charges embedded. at the end of the 5 years, we'll be told it's a low carbon surcharge, or green booster or some such and the fee will stay.

I'll Second that. It's like saying there's going to be a £40 per year increase, but we'll offset it for 5 years by giving you a £200 credit. If you don't have an account now, tough, you'll just pay the extra when you move into your first home etc.

Farway

Today at 11:22AM

Will this £40 pa  be paid by those who haven't received the £200? ie those who are not bill payers now but become bill payers in the future, 2024's ftb's etc

No doubt about it, it will help off set those who died before they could pay it back

SonOfPearl

Aylesbury_Duck said:

Easily: There's nothing stopping you making a one-off extraordinary payment of £200 to your energy account, so that you're never "borrowing" the money in the first place.  

Problem solved.

This is the answer to the question posed in this thread. There's a lot of overthinking going on! 

GingerTim

SonOfPearl said:

Aylesbury_Duck said:

Easily: There's nothing stopping you making a one-off extraordinary payment of £200 to your energy account, so that you're never "borrowing" the money in the first place.  

Problem solved.

This is the answer to the question posed in this thread. There's a lot of overthinking going on! 

But then you also pay an extra £40 per year for five years like everyone else anyway, so what's the point in subbing the energy company?

PennyForThem_2

If, BIG IF, you are more than £200 in credit when this hits in October, ask for a credit refund and invest the £200 - either fun (Premium Bonds) or in a S&S ISA.  That way maybe you will increase the value....... 

tomp2494

I don't understand fully how this works. 
Do we have to pay the additional 54% and then in October there's £200 credit applied to the bill, or are the prices going to reflect the £200 we're going to get?