£400 electricity credit to be paid in instalments - confirmed

MWT

Robin9 said:

Alnat1 said:

It might be that different companies deal with it in different ways, it's still a wait and see until the company you are with gives information of how it is going to process the discounts.

Likewise - I'll wait.  I can't see that Edf will take my £58 DD which is less than the £66/67 and credit my bank with £8/9, particularly if I am in debt.

With the £150 Council Tax rebates there were rules that prevented the Councils from applying the rebate to debt when the customer had a DD in place, or had otherwise provided bank details, I wouldn't be surprised to find something similar here as well...

We just have to wait and see...

...otherwise, in your case, they would either be not taking your DD at all and refunding you £8/9, or taking it as usual and then refunding you £66/67 pounds...

victor2

Why did the government pick a number out of the air that wasn't divisible by 6?

littlemissbossy

I'm with Octopus, I think they'll reduce my monthly DD by £66/£67 so I'll just increase it again.

pochase

victor2 said:

Why did the government pick a number out of the air that wasn't divisible by 6?

£396 or £402 would have looked strange. 

tghe-retford

MattMattMattUK said:

Rates are no expected to stay high for several years, Cornwall Insights (who have been the most on the ball so far) expect high rates into late 2024, with a slow drop over time. Standing Charges will not be abolished, to do so would be irrational, punish anyone who was not an ultra-low user and the main beneficiaries of such a change would be second home owners. 

Both Cornwall Insight and the BEIS seem to agree that bills will remain high, at least above (the old) average, into 2030 and beyond - ie. forever. Even with additional generation and more capacity. Maybe a drop from this winters numbers but not back to pre-lockdown levels ever again. And Putin is in no rush, the rhetoric I am seeing suggests he is planning for the long haul. We are being prepped for this to be "the new normal" with no amount of nuclear, renewable or even fossil fuel generation ever bringing it back down to former levels. Meanwhile we're expected to switch to heat pumps and electric cars which will only add more pressure to the grid.

But the problem is, the Government can't keep subsidising bills forever. Remember that the money is coming from taxpayers unless you print it - at which point you end up creating even more inflation and higher bills. Your only option herein is to change consumer habits and expectations on their quality of life.

SJMALBA

pochase said:

victor2 said:

Why did the government pick a number out of the air that wasn't divisible by 6?

£396 or £402 would have looked strange. 

All the more reason to have gone for £600...

pochase

I think £300 would have been more likely and you would not be happy about this. 

SJMALBA

pochase said:

I think £300 would have been more likely and you would not be happy about this. 

How about £900? Any advance on £900...

molerat

tghe-retford said:

MattMattMattUK said:

Rates are no expected to stay high for several years, Cornwall Insights (who have been the most on the ball so far) expect high rates into late 2024, with a slow drop over time. Standing Charges will not be abolished, to do so would be irrational, punish anyone who was not an ultra-low user and the main beneficiaries of such a change would be second home owners. 

Both Cornwall Insight and the BEIS seem to agree that bills will remain high, at least above (the old) average, into 2030 and beyond - ie. forever. Even with additional generation and more capacity. Maybe a drop from this winters numbers but not back to pre-lockdown levels ever again. And Putin is in no rush, the rhetoric I am seeing suggests he is planning for the long haul. We are being prepped for this to be "the new normal" with no amount of nuclear, renewable or even fossil fuel generation ever bringing it back down to former levels. Meanwhile we're expected to switch to heat pumps and electric cars which will only add more pressure to the grid.

But the problem is, the Government can't keep subsidising bills forever. Remember that the money is coming from taxpayers unless you print it - at which point you end up creating even more inflation and higher bills. Your only option herein is to change consumer habits and expectations on their quality of life.

I remember back in the 70s all this oil and gas was going to give us energy security forever  !

The only way out of this crisis is to bring all UK oil and gas resources and electricity generation back into state ownership.  Russian citizens are paying peanuts for their gas because the state owns and controls it, they only sell outside their own territory at market price.  There is a big world change coming.

MattMattMattUK

tghe-retford said:

MattMattMattUK said:

Rates are now expected to stay high for several years, Cornwall Insights (who have been the most on the ball so far) expect high rates into late 2024, with a slow drop over time. Standing Charges will not be abolished, to do so would be irrational, punish anyone who was not an ultra-low user and the main beneficiaries of such a change would be second home owners. 

Both Cornwall Insight and the BEIS seem to agree that bills will remain high, at least above (the old) average, into 2030 and beyond - ie. forever. Even with additional generation and more capacity. Maybe a drop from this winters numbers but not back to pre-lockdown levels ever again. And Putin is in no rush, the rhetoric I am seeing suggests he is planning for the long haul. We are being prepped for this to be "the new normal" with no amount of nuclear, renewable or even fossil fuel generation ever bringing it back down to former levels. Meanwhile we're expected to switch to heat pumps and electric cars which will only add more pressure to the grid.

I don't think anyone who understands the sector even a little bit expects them to fall back to pre-pandemic levels, but I can see the falling back to current (electricity at £0.30 per kWh) levels in late 2024 or into 2025. The best time for us to have started a new large scale nuclear building program was 10-15 years ago, the next best time is now.

tghe-retford said:

But the problem is, the Government can't keep subsidising bills forever.

I agree, realistically we are in a position where living standards will decline for many and that is going to be a fact of life, there is nothing the government can actually do about it.

tghe-retford said:
Remember that the money is coming from taxpayers unless you print it - at which point you end up creating even more inflation and higher bills.

Again, I agree, it seems largely pointless to tax me, then hand a bit of it back monthly as part of an energy support scheme. It felt like a lot of the support during Covid went too far for many (most people I know who received SEISS/CJRS was either just a boost to their self-employment income, or a way for their employer to give them paid holiday and make other parts of the team work harder), and the energy support also seems excessive, especially the £400 to every household component, if we had £11.5 billion to spend I think that would have been much better being invested between education, health and social care. 

tghe-retford said:
Your only option herein is to change consumer habits and expectations on their quality of life.

Unfortunately people do not like change, they do not like paying tax, even though the vast majority of them pay a low level of tax by international standards and they now seem to expect regular handouts of "free" money.