Quarterly cap change proposed

pochase

That was how it is described. Review/implementation every 3 months based on the rolling 6 months average.

Sea_Shell

The cynic in me thinks that if prices keep going up, they think we won't notice if it's little and often, rather than in big chunks. 😉

pochase

You mean we are just going to feel the pain less? Like boiling a frog slowly?

BobT36

Ultrasonic said:

This is obviously a complicated subject but it is in consumers' interests to avoid energy companies from going bust. Whether those left are at risk of this from the current price-cap approach I have no idea though.

Really? They don't SUPPLY energy, just buy it on our behalf. 

Why not let them all go bust? 

pochase

BobT36 said:

Ultrasonic said:

This is obviously a complicated subject but it is in consumers' interests to avoid energy companies from going bust. Whether those left are at risk of this from the current price-cap approach I have no idea though.

Really? They don't SUPPLY energy, just buy it on our behalf. 

Why not let them all go bust? 

You are interested in getting another 50p or more been added to the daily standing charge? We only covering now the cost for 5Million customers of suppliers that went bust and have already over 20p per day increase. I don't even know if the 1.7 million Bulb customers are included here, I don't think so.

Ultrasonic

BobT36 said:

Why not let them all go bust? 

Well personally I'd still like to have someone to buy electricity and gas from...

Mstty

I was on another post where dual fuel customer is paying 91p a day standing charges so £332 a year.

I don't think certain areas of society can cope with much more than that before they heat or eat. 

I wonder if ditching gas supplies is on the rise?

Ultrasonic

Mstty said:

I was on another post where dual fuel customer is paying 91p a day standing charges so £332 a year.

I don't think certain areas of society can cope with much more than that before they heat or eat. 

I wonder if ditching gas supplies is on the rise?

I'd argue what matters is the total bill rather than specifically the standing charge. Someone has to be a very low energy user before it becomes the dominant cost. I'm what most would consider a low energy user* and if I were on the SVT it would be about 30% of my total bill (in a high SC region) - for most it will be MUCH less than this.

*~1400 kWh electriity and 4000 kWh gas per year.

agentcain

Ultrasonic said:

BobT36 said:

Why not let them all go bust? 

Well personally I'd still like to have someone to buy electricity and gas from...

The state?
If no one's there to sell, the state claims everything for the common good and becomes the middleman, even if it means that ofgem and the administrators have to actually do something useful. 
I thought that was what COVID taught us; common good above personal gain?
Or maybe we're not all in this together anymore?

Section62

agentcain said:

Ultrasonic said:

BobT36 said:

Why not let them all go bust? 

Well personally I'd still like to have someone to buy electricity and gas from...

The state?
If no one's there to sell, the state claims everything for the common good and becomes the middleman, even if it means that ofgem and the administrators have to actually do something useful.

Claims what?  The debts, the pension liabilities, expensive forward contracts, and leases on rented offices?

agentcain said:

I thought that was what COVID taught us; common good above personal gain?
Or maybe we're not all in this together anymore?

False equivalence.

The 'common good' could be served by having a diverse range of energy suppliers that compete against each other for customers and offer different (and innovative) products that meet the diverse needs of consumers.  Admittedly it is going to take a while before we see anything like that again.