£4200 Energy Price Cap.

BROKEN

Today 09/08/2022 in the news that the price of the energy price cap could be £4200. Now im no expert here but banks haven't offered me a loan to pay for possibly my new energy cap yet. As someone who is in arrears and has been in touch with my supplier and they have been great about it and I gave them my plan on paying those arrears off(last winter charges). Im two months better off than I told them where I need to be in September. However I have had to take for me personally meter readings(daily, weekly and monthly.) and worked out what i was using. 13Kws a day I was using blamed my lad for his electric devices on extensions, turns out all his were all on smart plugs. it was the dear wife who had all her electric devices plugged into a extension  tower. So put all the bedroom electrics on smart plugs so when she leaves for work she just says Alexa Turn off electrics and all electrics turned off. My lad does the same. So now throughout the day I just have the fridge freezer on. Oven as the clock and ignition use electric and the Internet Hub. everything else is turned off. My fused switches for the dishwasher and tumble drier are turn off.(started washing dishes now as there's enough hot water. Radio is on through Alexa which is nowt monetary wise. Some days I've checked my meter readings from 7.30am till 17.00pm and found that I've only used 2Kws.its when the other two get home that we use another 6kws until 7.30 the next day. Last month my electric use was under £55.00 and Gas was £9.40. the rest of my DD paid my arrears. 
I think Energy companies should be nationalised, the petition on petition.parliament.co.uk (Nationalise Energy Companies is over 106 Thousand petition signatories as of 14.30 and it ends today. 
When if you can remember your annual energy bill being £800 annually OFGEM stated that customers wouldn't be able to request a fee for on time meter readings as it would raise the price of energy, Well NOW is that time that Energy Companies paid for this FREE service they have been receiving for years now.

My advice turn off everything that doesn't need to be on. (you'll be surprised)
If you have multiple plugs in an extension lead get  SMART PLUGS.
If you have an electric shower turn it OFF.(there will be someone with there's still on while reading this) 
 Read your METERS (don't rely on the smart ones) learn to calculate your usage. (you'll find out what's costing you.)
Look for petitions on petitions.parliament.uk to sign.(personal details wont be published)
Vote these Muppets out of Power (most will be shareholders anyway) 

What_time_is_it

Well, for a start I'd like to see the energy crisis being given top spot in the news every day while it remains the single biggest thing that will impact on peoples' lives. Johnny Depp said a thing? Not top story. Someone did a thing at the Commonwealth Games? Not top story. Possible hosepipe ban? Not top story.
And at the same time the market needs to be massively simplified and explained in a clear way that people can understand. Whether that means nationalisation or increased regulation depends on your political and economic outlook, but it must be simplified and easier for people to understand in order for us all to make informed choices without fear. 

pochase

Most of your points are good advice.

I just cannot agree with your suggestion of nationalising energy suppliers. Where do you find the billions of pounds to buy out the suppliers? And where would you get the energy cheaper? Suppliers have a 2% margin build into the cap, do you really think the 2% would cover to buy out the suppliers, and I personally think administration done by government will eat a multiple of the 2% that can be saved.

macman

The French gov't have just effectively renationalised EDF. How do you think that is going to protect retail customers from continued rises in wholesale costs? 
If the French gov't decides to cap prices, they will either have to subsidise EDF to run at a loss, or increase general taxation to recover the cost of capping. Either way, the consumer will pay eventually. 

BROKEN

Oh well there we have it. EDF owned by the French Government who are making the British people pay for the conservatives taking us out of the EU (ha ha)

spot1034

macman said:

The French gov't have just effectively renationalised EDF. How do you think that is going to protect retail customers from continued rises in wholesale costs? 
If the French gov't decides to cap prices, they will either have to subsidise EDF to run at a loss, or increase general taxation to recover the cost of capping. Either way, the consumer will pay eventually. 

And it should be made clear that they are having to buy the shares they don't already own, at a cost of 10 billion Euros.