What's your Next Moves on Gas and Electricity Bills?

pochase

The £400 for everybody will be paid into your domestic electricity account. Most likely starting in October 6 x £66.66.

bery_451

pochase said:

The £400 for everybody will be paid into your domestic electricity account. Most likely starting in October 6 x £66.66.

Okay so not into your bank account but they will give it directly to your energy supplier you mean?

All energy companies support this?

What's Ironic is where will the government get all this money to give £400 each to all the houses in the UK? Through taxpayers who cant pay tax because they have been laid off during a recession or will the Govt. go to the Bank of England Money Printers to print all of this money causing even more Higher Inflation that results in more Higher Gas & Electricity Prices! 

pochase

All domestic suppliers.

Mstty

bery_451 said:

pochase said:

The £400 for everybody will be paid into your domestic electricity account. Most likely starting in October 6 x £66.66.

Okay so not into your bank account but they will give it directly to your energy supplier you mean?

All energy companies support this?

What's Ironic is where will the government get all this money to give £400 each to all the houses in the UK? Through taxpayers who cant pay tax because they have been laid off during a recession or will the Govt. go to the Bank of England Money Printers to print all of this money causing even more Higher Inflation that results in more Higher Gas & Electricity Prices! 

The new windfall tax they announced on energy companies will pay for it.

pochase

Mstty said:

bery_451 said:

pochase said:

The £400 for everybody will be paid into your domestic electricity account. Most likely starting in October 6 x £66.66.

Okay so not into your bank account but they will give it directly to your energy supplier you mean?

All energy companies support this?

What's Ironic is where will the government get all this money to give £400 each to all the houses in the UK? Through taxpayers who cant pay tax because they have been laid off during a recession or will the Govt. go to the Bank of England Money Printers to print all of this money causing even more Higher Inflation that results in more Higher Gas & Electricity Prices! 

The new windfall tax they announced on energy companies will pay for it.

Windfall tax is expected to be 5 billion (if that) while the cost for the £400 grant for the 27.8 million households in the UK is 11.2 billion.

So the biggest part of it will be paid by the tax payer.

Mstty

Cheers noted👍

With taxes not increasing I presume it means a re distribution of current taxes to pay for this As they have said cuts not increases (we believe them lol)

Benny2020

Not what past Tory governments would have done.

pochase

They had planned to spend 10 billion for the £150 and £200 loan/not loan, so the 5 billion should almost cover the additional £200 per household.

QrizB

bery_451 said:

I think all this renewable energy such as solar, wind etc. wont attract investors because how can you profit from something that is out there and is for free too. There's no company or corporation that has rights ownership of the sun, oceans and the weather.

Better tell that to all the renewable energy companies, then, since they seem to be attracting investors and making money quite happily.

Greencoat UK Wind, for example.

https://www.hl.co.uk/shares/shares-search-results/g/greencoat-uk-wind-plc-ordinary-shares

If renewables like solar attracted investors then solar panel efficiency would be around 75% now ...

Physics says no.

Although it's already doing better than biology, which has only managed 11% after 3.4 billion years of life-or-death research.

Ultrasonic

bery_451 said:

What's Ironic is where will the government get all this money to give £400 each to all the houses in the UK? Through taxpayers who cant pay tax because they have been laid off during a recession or will the Govt. go to the Bank of England Money Printers to print all of this money causing even more Higher Inflation that results in more Higher Gas & Electricity Prices! 

The government a) no doubt feel they have no choice but to offer help right now given so many people are in no reasonable position to manage the situation entirely on their own, and b) are hoping this will be a short term problem such that the debt can essentially be paid off over a number of years.

Which is not to say that I think giving £400 to every energy account holder is an efficient use of government money but there are thankfully significant amounts of more targeted help as well.