MSE News: Martin Lewis: Why your energy bill might be going up by MORE than 54%

Zoobzi37

To Mattmattmattuk. Please don't talk to me like I'm an idiot. You sound like an apology for the tory party. 
Of course the utility companies are cashing in at our expense. They also contribute to the tory party and he who pays the piper. 
This mess has been coming since privatisation. The utilities have always known this was coming. I knew it was coming. 
The entire infrastructure of the country is in private hands. The water companies aren't investing in the system as its cuts profits. Etc etc etc. 
We live in a country where profits comes before people. 
So please, Matt, don't talk down to me like I'm a child. You have every right to be a tory just as I have every right to my opinion. 

Zoobzi37

Incidentally, in 2021 BG profits doubled to over £1 billion. Yes you are absolutely right. They can't afford to have cut price energy deals when they aren't making any money. 

MattMattMattUK

Zoobzi37 said:

To Mattmattmattuk. Please don't talk to me like I'm an idiot. You sound like an apology for the tory party. 

I answered/responded to your points. I also do not like the Conservative Party, do not vote for them and think the current bunch are an absolute shower, that does not mean I do not have an understanding of the energy market.

Zoobzi37 said:

Of course the utility companies are cashing in at our expense. They also contribute to the tory party and he who pays the piper. 

The energy providers are currently losing money, that is the very opposite of "cashing in". Yes they donate to the Conservative Party, and many also to the Labour Party, it is almost impossible to try to find a company in the FTSE who has not donated directly, or had board members donate to at least one, and in many cases both major parties.

Zoobzi37 said:

This mess has been coming since privatisation. The utilities have always known this was coming. I knew it was coming. 
The entire infrastructure of the country is in private hands. The water companies aren't investing in the system as its cuts profits. Etc etc etc. 

The issues with the system started before privatisation as the UK has under invested in energy for decades, if we had followed the French example and built a large number of nuclear power stations we would not be reliant on global energy supplies in the same way (the French had their electricity bills increase by 4% since this started and gas is rarely used in homes). The issue in the UK is that in public ownership taxpayers were not willing to fund the cost of investment and in private ownership expects a return on it's investment. The water companies are investing, maybe not at the level that many would like, but their profits are also capped and regulated and they are pretty low, again one of the bigger issues with water is that due to the low profits it is generally not viable to fund investment by borrowing and so improvements in infrastructure need to come from raising bills, which the public oppose, the companies cannot charge what they should be to invest more in the network.

If you had the crystal ball that allowed you to foresee a huge rise in global energy prices off the back of a global pandemic, further compounded by a Russian invasion of Ukraine deepening a European energy crisis then you should be so rich that energy prices would be immaterial to you. 

Zoobzi37 said:

We live in a country where profits comes before people. 

We probably do, but I think most countries are like that, although in Europe we are somewhat of an outlier (the social bonds are much stronger in France, Germany and Scandinavian countries). In the UK the majority of people are not willing to pay for the services they use themselves, let alone contribute to help other people. 

Zoobzi37 said:

So please, Matt, don't talk down to me like I'm a child. You have every right to be a tory just as I have every right to my opinion. 

It is your prerogative to feel you are being talked to like a child. I am not a Conservative, but you seem to feel you can throw that around an an insult, again, that is your choice. You can also have opinions, but if your opinions are flawed, or incorrect, then other people are also free to point that out. 

MattMattMattUK

Zoobzi37 said:

Incidentally, in 2021 BG profits doubled to over £1 billion. Yes you are absolutely right. They can't afford to have cut price energy deals when they aren't making any money. 

You are confusing British Gas the exploration, extraction and refining company, and British Gas retail which is the energy supplier to people's homes, they are different companies. 

Edit to add: If British Gas make £1,000,000,000 in profit then the treasury will benefit by around £300,000,000 due to the corporation tax on the profit (which is already charged at a higher rate for oil and gas exploration companies).

Ultrasonic

RULAST said:

Gob smacked my BULB energy up 50% from April 1st. Does Bulb have a forum area here on MSE

Was there a particular reason you were 'gob smacked'? I'm afraid this is pretty much to be expected right now.

ZolaBuddy

This is my first post here, and the entire forum is a landmine of useful information.
Up until the last couple of weeks I had no idea what the difference was between standard variable tariffs, fixed, fixed DDs and variable DDs, and that I should be focusing on the kw/h usage rather than the how much my DDs will be.
I'm currently on a fixed with So Energy until July. So I have some time before having to look at my options between now and then. But I have elderly neighbours are either don't have access to the internet, or if they do don't fully understand the implications of the price cap, tariffs and standing charges over the next 6 months or so.

Trying to explain the details face to face is quite difficult and they are more than worried not only regarding the steep rises, but also about moving to different providers without being scammed/ripped off by suppliers only to willing to exploit the vulnerable

I am quite boned up on a few things but as I said earlier trying to work out the best solutions in the short to mid term is not only confusing but also quite exhausting. But for the elderly out there, who don't have access to the web it must be even more worrying.

Ultrasonic

ZolaBuddy said:

This is my first post here, and the entire forum is a landmine of useful information.

I hope you mean 'gold mine'  .

I absolutely share your concerns regarding many struggling to understand the current situation. A key reason I've posted more on this forum over the last 6 months has been a mixture of to keep up to date for my own benefit, and to help others where I can (both here and elsewhere). 

k_man

I prefer landmine😄

Ultrasonic said:

RULAST said:

Gob smacked my BULB energy up 50% from April 1st. Does Bulb have a forum area here on MSE

Was there a particular reason you were 'gob smacked'? I'm afraid this is pretty much to be expected right now.

Because it was only 50% and lower than the 54% headline?

Ultrasonic

k_man said:

I prefer landmine😄

Ultrasonic said:

RULAST said:

Gob smacked my BULB energy up 50% from April 1st. Does Bulb have a forum area here on MSE

Was there a particular reason you were 'gob smacked'? I'm afraid this is pretty much to be expected right now.

Because it was only 50% and lower than the 54% headline?

OK, the 54% is an average. Some are seeing increases of much more the than 54%, and some will see less.

k_man

Sorry, I need to include 😉 more 

I meant maybe @RUBLAST was gob smacked by the low % rise of only 50%...