What rates are you being offered by your provider at the moment?

charliesf

Doc_N said:

And another proposal in today’s Sunday Times:

Keith Anderson, the chief executive of ScottishPower, proposed that bills should be frozen at their present level of £1,971 for two years. Suppliers would cover the gap between this and the wholesale price by borrowing from a “deficit fund” supported by commercial banks, with the sums repaid over ten to 15 years. The cost would be passed on to consumers in bills over this period or moved into general taxation.

There are risks in fixing now at high prices!

Keir's and Keith's proposals both sound good. I got a feeling Keith's one will win in the end.

I had a thought at the back of my mind that something like this might happened.

So those that fix now, will be stuck in with their inflated deals and will have to pay a exit fee to get out.

Reasoning behind this is they can afford and have accepted the fixed deal.

Some companies might be fine and cancel the fixes and put everyone on variable deal and some not.

Keith_F

Doc_N said:

And another proposal in today’s Sunday Times:

Keith Anderson, the chief executive of ScottishPower, proposed that bills should be frozen at their present level of £1,971 for two years. Suppliers would cover the gap between this and the wholesale price by borrowing from a “deficit fund” supported by commercial banks, with the sums repaid over ten to 15 years. The cost would be passed on to consumers in bills over this period or moved into general taxation.

There are risks in fixing now at high prices!

For some the high prices are an inconvenience, not a critical issue.
far better to find a way to target help where it’s needed, not waste it on those who can afford to pay. 

Keith_F

charliesf said:

Doc_N said:

And another proposal in today’s Sunday Times:

Keith Anderson, the chief executive of ScottishPower, proposed that bills should be frozen at their present level of £1,971 for two years. Suppliers would cover the gap between this and the wholesale price by borrowing from a “deficit fund” supported by commercial banks, with the sums repaid over ten to 15 years. The cost would be passed on to consumers in bills over this period or moved into general taxation.

There are risks in fixing now at high prices!

Keir's and Keith's proposals both sound good. I got a feeling Keith's one will win in the end.

I had a thought at the back of my mind that something like this might happened.

So those that fix now, will be stuck in with their inflated deals and will have to pay a exit fee to get out.

Reasoning behind this is they can afford and have accepted the fixed deal.

Some companies might be fine and cancel the fixes and put everyone on variable deal and some not.

Bit strong to say that those who have taken a fix ‘can afford to pay it’. They are looking ahead and trying to work out how to minimise expenditure over a 12 month period, rather than sitting back and hoping someone else solves the problem. It’s called planning.
Some fixes have no exit fees, that factor also goes into the planning.

brewerdave

It's all irrelevant at the moment - and if ,as expected ,Liz Truss wins the Bory leadership contest then the chances of the cap being frozen ,are between nil and zero. ANYTHING proposed by Keir Starmer will be an anathema to the Tory party under her.

Effician

Doc_N said:

And another proposal in today’s Sunday Times:

Keith Anderson, the chief executive of ScottishPower, proposed that bills should be frozen at their present level of £1,971 for two years. Suppliers would cover the gap between this and the wholesale price by borrowing from a “deficit fund” supported by commercial banks, with the sums repaid over ten to 15 years. The cost would be passed on to consumers in bills over this period or moved into general taxation.

There are risks in fixing now at high prices!

Would the current suppliers then insist on no new suppliers entering the market & undercutting them when wholesale prices fall. 

charliesf said:

Doc_N said:

And another proposal in today’s Sunday Times:

Keith Anderson, the chief executive of ScottishPower, proposed that bills should be frozen at their present level of £1,971 for two years. Suppliers would cover the gap between this and the wholesale price by borrowing from a “deficit fund” supported by commercial banks, with the sums repaid over ten to 15 years. The cost would be passed on to consumers in bills over this period or moved into general taxation.

There are risks in fixing now at high prices!

Keir's and Keith's proposals both sound good. I got a feeling Keith's one will win in the end.

Starmer is just pandering to his voter base with nothing to lose, i guess his opinion would be different if in the unlikely case he got his slimy mitts on the purse strings.

Anderson is no doubt thinking about tightening the monopoly the existing suppliers have with the bonus of reduced chances of losing money due to defaults or reduced usage, whilst always having the cop out of dumping the debts onto the taxpayer.

Colino_Green

charliesf said:

Doc_N said:

And another proposal in today’s Sunday Times:

Keith Anderson, the chief executive of ScottishPower, proposed that bills should be frozen at their present level of £1,971 for two years. Suppliers would cover the gap between this and the wholesale price by borrowing from a “deficit fund” supported by commercial banks, with the sums repaid over ten to 15 years. The cost would be passed on to consumers in bills over this period or moved into general taxation.

There are risks in fixing now at high prices!

Keir's and Keith's proposals both sound good. I got a feeling Keith's one will win in the end.

I had a thought at the back of my mind that something like this might happened.

So those that fix now, will be stuck in with their inflated deals and will have to pay a exit fee to get out.

Reasoning behind this is they can afford and have accepted the fixed deal.

Some companies might be fine and cancel the fixes and put everyone on variable deal and some not.

Some suppliers will have to waive those exit fees, otherwise there will be a huge public outcry ... and rightly so.

The E.on fixes that I have seen recently (including the one that I accepted before the middle of last month) have no exit fee, so apart from losing out for a month or two, exiting back to the variable tariff should be a problem for some of us... hopefully anyway.

Doc_N

Effician said:

Doc_N said:

And another proposal in today’s Sunday Times:

Keith Anderson, the chief executive of ScottishPower, proposed that bills should be frozen at their present level of £1,971 for two years. Suppliers would cover the gap between this and the wholesale price by borrowing from a “deficit fund” supported by commercial banks, with the sums repaid over ten to 15 years. The cost would be passed on to consumers in bills over this period or moved into general taxation.

There are risks in fixing now at high prices!

Would the current suppliers then insist on no new suppliers entering the market & undercutting them when wholesale prices fall. 

charliesf said:

Doc_N said:

And another proposal in today’s Sunday Times:

Keith Anderson, the chief executive of ScottishPower, proposed that bills should be frozen at their present level of £1,971 for two years. Suppliers would cover the gap between this and the wholesale price by borrowing from a “deficit fund” supported by commercial banks, with the sums repaid over ten to 15 years. The cost would be passed on to consumers in bills over this period or moved into general taxation.

There are risks in fixing now at high prices!

Keir's and Keith's proposals both sound good. I got a feeling Keith's one will win in the end.

Starmer is just pandering to his voter base with nothing to lose, i guess his opinion would be different if in the unlikely case he got his slimy mitts on the purse strings.

Anderson is no doubt thinking about tightening the monopoly the existing suppliers have with the bonus of reduced chances of losing money due to defaults or reduced usage, whilst always having the cop out of dumping the debts onto the taxpayer.

Starmer? Slimy mitts?

Are you unaware of Johnson's antics - quite apart from all the contracts improperly handed out to the mates of ministers during the initial Covid phase.  Including the landlord of the local pub of one of them!

There is no integrity whatever now in the Conservative Party - just a bunch of crooks and chancers.

Effician

Doc_N said:

Effician said:

Doc_N said:

And another proposal in today’s Sunday Times:

Keith Anderson, the chief executive of ScottishPower, proposed that bills should be frozen at their present level of £1,971 for two years. Suppliers would cover the gap between this and the wholesale price by borrowing from a “deficit fund” supported by commercial banks, with the sums repaid over ten to 15 years. The cost would be passed on to consumers in bills over this period or moved into general taxation.

There are risks in fixing now at high prices!

Would the current suppliers then insist on no new suppliers entering the market & undercutting them when wholesale prices fall. 

charliesf said:

Doc_N said:

And another proposal in today’s Sunday Times:

Keith Anderson, the chief executive of ScottishPower, proposed that bills should be frozen at their present level of £1,971 for two years. Suppliers would cover the gap between this and the wholesale price by borrowing from a “deficit fund” supported by commercial banks, with the sums repaid over ten to 15 years. The cost would be passed on to consumers in bills over this period or moved into general taxation.

There are risks in fixing now at high prices!

Keir's and Keith's proposals both sound good. I got a feeling Keith's one will win in the end.

Starmer is just pandering to his voter base with nothing to lose, i guess his opinion would be different if in the unlikely case he got his slimy mitts on the purse strings.

Anderson is no doubt thinking about tightening the monopoly the existing suppliers have with the bonus of reduced chances of losing money due to defaults or reduced usage, whilst always having the cop out of dumping the debts onto the taxpayer.

Starmer? Slimy mitts?

Are you unaware of Johnson's antics - quite apart from all the contracts improperly handed out to the mates of ministers during the initial Covid phase.  Including the landlord of the local pub of one of them!

There is no integrity whatever now in the Conservative Party - just a bunch of crooks and chancers.

I would consider all politicians as slimy, the more power they have the slimier they get.

Mstty

There is no point a politician who's party does not hold a majority and control parliament saying anything except what aligns them with gaining more votes. Absolute garbage can flow.

All these ideas posted today are miles away from anything Truss and Sunak have offered when they become leader so anyone that thinks they will be paying under £2000 for their energy for a couple of years are going to be very disappointed unless they have a great fix deal.

There will however be an instant reduction of the green levy(Truss) or 5%Vat on energy (Sunak) and that may well be it before intervening before the estimated further 20% rise in Jan 2023.

They have splashed the cash enough to get people through to then in my opinion.

dhokes

Just a thought, how long do you typically have to be on a supplier's variable rate before you can sign up to their fixed deals? I'm thinking about switching to a supplier's (that's offering a fixed deal for their customers) variable rate and then switching to their fixed rate.