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

swaledale_one

QrizB said:

From what's been said, my best guess based on this Treasury factsheet and pending any more specific info:

• Every domestic electricity account will be credited with £200 in October this year;
• Every domestic electricity account will see an ~11p/day increase to the standing charge from some-time-in-2023.
  

So when Linda moves out of her parents house in November 2022 come April 2023 her standing charge will increase to pay back £200 loan she never received?

If Ian receives the £200 in October on his bill then moves away in November and Frank moves in will Frank have to pay for Ian's £200?

Will this be on a person's credit file? If so how will it when you've not asked for the credit?

If its not then there is no legal standing to chase.

This whole thing is unbelievably ridiculous and cannot for the life of me understand how someone so well educated could say they are giving everyone a £200 discount on bills then in the same breath explain they want it back!? But not straight away they want to wait till we've had another 2 price cap increases first.

What_time_is_it

swaledale_one said:

QrizB said:

From what's been said, my best guess based on this Treasury factsheet and pending any more specific info:

• Every domestic electricity account will be credited with £200 in October this year;
• Every domestic electricity account will see an ~11p/day increase to the standing charge from some-time-in-2023.
  

So when Linda moves out of her parents house in November 2022 come April 2023 her standing charge will increase to pay back £200 loan she never received?

If Ian receives the £200 in October on his bill then moves away in November and Frank moves in will Frank have to pay for Ian's £200?

Will this be on a person's credit file? If so how will it when you've not asked for the credit?

If its not then there is no legal standing to chase.

I'm 99.9% sure it'll be as simple as £200 credit on every account in October. Then an increase on every account (either 11p on the standing charge, or a £40 itemised cost each year) thereafter for the 5 subsequent years. Regardless of who you are. That's it. Nothing more too it.

GingerTim

swaledale_one said:

QrizB said:

From what's been said, my best guess based on this Treasury factsheet and pending any more specific info:

• Every domestic electricity account will be credited with £200 in October this year;
• Every domestic electricity account will see an ~11p/day increase to the standing charge from some-time-in-2023.
  

So when Linda moves out of her parents house in November 2022 come April 2023 her standing charge will increase to pay back £200 loan she never received?

If Ian receives the £200 in October on his bill then moves away in November and Frank moves in will Frank have to pay for Ian's £200?

Will this be on a person's credit file? If so how will it when you've not asked for the credit?

If its not then there is no legal standing to chase.

Linda will for five years pay an extra 11p per day on her electricity standing charge, just like everyone else.

Frank will for five years pay an extra 11p per day on his electricity standing charge, just like everyone else.

You will for five years pay an extra 11p per day on his electricity standing charge, just like everyone else.

QrizB will for five years pay an extra 11p per day on their electricity standing charge, just like everyone else.

I will pay for five years pay an extra 11p per day on his electricity standing charge, just like everyone else.

Credit files don't come into it anywhere. No one says it's fair, but it is very simple: for five years everyone will pay an extra 11p per day on their electricity standing charge.

AnnoyedEnergyUser

PennineAcute said:

All these people who are so against this £200 have yet to come up with a more realistic alternative.  Some people can cause an arguement in an empty room.

A counter argument has been to invest in renewable energy and make us less reliant on the whims of the market. Why not have it that all new builds have to have their own off grid power system?

As for the £200 it is a con. If you have a large bill coming in it would be daft to then borrow even at 0% interest to pay it off as you still have the bill the following years and any increases which are likely to happen plus the £200 you have put off.

I would rather opt out of the £200 and not have to pay it back in the future.

QrizB

AnnoyedEnergyUser said:

PennineAcute said:

All these people who are so against this £200 have yet to come up with a more realistic alternative.  Some people can cause an arguement in an empty room.

A counter argument has been to invest in renewable energy and make us less reliant on the whims of the market. Why not have it that all new builds have to have their own off grid power system?

Have you ever priced an off-grid power system, both to buy and maintain? If so you'll realise why that's unlikely to make sense.

It's the breadmaker fallacy turned up to eleven.

Swipe

What happens for me as I'm on a fixed tariff until April 23? Will I not get it and then have to start paying it back via an inflated SC when my fix ends?

MWT

Swipe said:

What happens for me as I'm on a fixed tariff until April 23? Will I not get it and then have to start paying it back via an inflated SC when my fix ends?

It will be added to your electricity standing charge regardless of the fixed tariff, you'll find in the T&Cs that your supplier is allowed to change the fix if it is to recover new imposed taxes/charges.

Astria

Swipe said:

What happens for me as I'm on a fixed tariff until April 23? Will I not get it and then have to start paying it back via an inflated SC when my fix ends?

You'll get the £200 in October like everyone else.

You'll start paying it back when your fixed tariff ends, and will finish paying it back at the same time as everyone else.

So in effect you'll pay back slightly less.

AnnoyedEnergyUser

QrizB said:

AnnoyedEnergyUser said:

PennineAcute said:

All these people who are so against this £200 have yet to come up with a more realistic alternative.  Some people can cause an arguement in an empty room.

A counter argument has been to invest in renewable energy and make us less reliant on the whims of the market. Why not have it that all new builds have to have their own off grid power system?

Have you ever priced an off-grid power system, both to buy and maintain? If so you'll realise why that's unlikely to make sense.

It's the breadmaker fallacy turned up to eleven.

Presumably none so daft as those that don't want to do something...

Obviously it is expensive as otherwise we are as we are now held to ransom by the energy companies and the people who own them. Much like the debate around more money is needed for the care system, when hedge funds by the business take out a loan take the money and leave the care business to pay for the loan, then over time the debt rises and more and more of the money is not used to pay for care but to pay for loans.

So why invest in tech to find cheap alternatives? When you can screw folks over for ever.

swaledale_one

PennineAcute said:

All these people who are so against this £200 have yet to come up with a more realistic alternative.  Some people can cause an arguement in an empty room.

Give your head a wobble.

Realistic alternative to what? A discount that's not actually a discount!?

How is giving every household in the UK a £200 forced loan anyway shape or form any help whats so ever? Please explain.

There is zero need to put people into debt in a time when most folk are already heavily in debt.

You cannot solve financial issues by taking on more debt.

People are angry as they have every right to be and to voice their opinions in an open forum.