October 22 price cap announcement

Marvel1

TheBanker said:

eastcorkram said:

Those figures give a price for standing charge. I hadn't realised that had a cap. Mine , electric, is higher than the new figure shown above . 

They are the national average. The actual SC cap varies by region reflecting different costs of distribution.

Also the price shown is for those on variable tariffs - if you're on a fixed tariff then I think different rates apply. 

And those not on prepayment, think later I will need to find this info for both my region and meter type to compare and ensure I will be on that tariff.

Irratus_Rusticus

MattMattMattUK said:

Thatcher would take a very different approach to that of Truss, her Chancellor, her children, pretty much everyone who worked with her has said so. Indeed several of those people have heavily hinted that they do not think Truss is connected to reality, or fit for office. 

I supposed it will be great to have another "Worst Prime Minister we have ever had" in a row though...

 The Poll Tax went down well as I recall. Peace and harmony in the realm. Ms Truss is rather a worry. Still, we survived Boris. Let her nowhere near a tank again, please.

vision2009

brewerdave said:

vision2009 said:

The answer to this criminal rip off is to re nationalise all energy. The government won’t do it because there are too many people making obscene profits at our expense and lives will be lost. It’s all about the money as usual. Shameful country.

And it would cost 100s of £billions to buy out the foreign companies that own most of the UK power industry !! Unless you do it without paying whereupon UK becomes a pariah state like Venezuela !

Anything is possible by government given  the will to do it, as we have witnessed with COVID and the wars. How many billions is it costing government to put a sticking plaster on this catastrophic rip off? and there is no end in sight to these criminal increases.

tghe-retford

QrizB said:

vision2009 said:

The answer to this criminal rip off is to re nationalise all energy.

And

subjecttocontract said:

I'm convinced the Gov' will set a price cap of around £2000 for everyone and pay anything above that figure, however high it goes.

The leading candidate for PM is a Margaret Thatcher cosplayer.

And, as we all will recall, the trouble with socialism is that eventually you run out of other people's money.

https://www.snopes.com/fact-check/other-peoples-money/

The problem with capitalism is that you also run out of other people's money. Because consumers do not secretly possess a magic money tree that companies seem to think we do. Money is finite and that works both ways.

The founder of this website knows this and has not held back on social media and the media round this morning.

pochase

subjecttocontract said:

I'm convinced the Gov' will set a price cap of around £2000 for everyone and pay anything above that figure, however high it goes. The cost will be added to the national debt.

The alternative is anarchy, riots, complete breakdown of law and order which no Gov' will allow.

Of course there will still be many households who will need help just as they do now.

This is not a short term problem. Predications for all of 2023 is already that it will only get worse than the October cap.

Why don't you just take a loan in the name of your kids so they can pay it of later. That is exactly the same as what you are suggesting.

There is already help of potentially over £2000 coming in for those who are worst off. That is more than the cap increase, and yes I know part of it is not just for energy price increase.

I am all for helping those who need help, but it has to be targeted. Why should those who are low users and get with the £400 not just the increase covered, but their whole bill paid even more? Why should those who are able to pay increase the national debt further, and I, as everybody else don't enjoy to pay more money, but it is ridiculous if everybody thinks they should be just covered by the government in full.

Targeted help also does not mean that the energy cost should be completely subsidised no matter what the usage is. Why would I need to try and save money if those who need support could continue to live like before? The only viable way for me is to help those who need it with a contingent of cheaper energy, for example at the price of the current cap, but limited to the essential need.

MattMattMattUK

Irratus_Rusticus said:

MattMattMattUK said:

Thatcher would take a very different approach to that of Truss, her Chancellor, her children, pretty much everyone who worked with her has said so. Indeed several of those people have heavily hinted that they do not think Truss is connected to reality, or fit for office. 

I supposed it will be great to have another "Worst Prime Minister we have ever had" in a row though...

 The Poll Tax went down well as I recall. Peace and harmony in the realm.

It did, people had a tantrum over what was actually a fairly sensible system. The difference however is that was the government implementing a change, rather than one caused by external issues. It is always much easier to face down the public with issues when you can blame an outside enemy, although post-Covid people do seem to have become hooked on handouts.

Irratus_Rusticus said:
Ms Truss is rather a worry. Still, we survived Boris. Let her nowhere near a tank again, please.

Unfortunately I and many others fear Truss will be far worse. She is Boris without the humour and (to some people) charm, fewer principles and much less intellect. If it were a choice, an empty tank would make a better PM than Truss, unfortunately, even Johnson staying would probably be better than Truss and I despise the man.

Vegastare

On Newsnight on Wednesday a wheel graph was shown on our gas supply - we get 29% gas from Norway(although Germany are now tapping Norway) then there was a mixture of around 20% from other sources. The remaining 47% can from another source..UK

Why can't we look after our own by keeping what we have from our land and sea.  Why does this go at world market pricing.

Two price bill system on bills showing lower rate for UK supply as half bill and rest at world rate.

They constantly talking of what we should do to make us self sufficient down the line.  Fine but what we have now should be lower to us now, not down the line!!

What's ours should stay ours, now not down the line.

tghe-retford

vision2009 said:

brewerdave said:

vision2009 said:

The answer to this criminal rip off is to re nationalise all energy. The government won’t do it because there are too many people making obscene profits at our expense and lives will be lost. It’s all about the money as usual. Shameful country.

And it would cost 100s of £billions to buy out the foreign companies that own most of the UK power industry !! Unless you do it without paying whereupon UK becomes a pariah state like Venezuela !

Anything is possible by government given  the will to do it, as we have witnessed with COVID and the wars. How many billions is it costing government to put a sticking plaster on this catastrophic rip off? and there is no end in sight to these criminal increases.

The Government put in extraordinary and exceptional measures in March 2020 (which ironically caused much of the inflation we have now).

Now we face the same consequences with cold and malnutrition as opposed to a virus.

This won't be fixed with some insulation. Or turning the thermostat down. Or putting on extra layers. And yet there is no appetite for anything other than scalding domestic energy consumers for using energy.

gazapc

Vegastare said:

On Newsnight on Wednesday a wheel graph was shown on our gas supply - we get 29% gas from Norway(although Germany are now tapping Norway) then there was a mixture of around 20% from other sources. The remaining 47% can from another source..UK

Why can't we look after our own by keeping what we have from our land and sea.  Why does this go at world market pricing.

Two price bill system on bills showing lower rate for UK supply as half bill and rest at world rate.

They constantly talking of what we should do to make us self sufficient down the line.  Fine but what we have now should be lower to us now, not down the line!!

What's ours should stay ours, now not down the line.

If we start arbitrarily changing rules then what motivation then do companies have to invest in the UK if a price cap is set? The UK is a fantastic place to do business because it has a very stable system. These changes would undermine that not just in the energy sector.

How will you cover the lost tax revenue due to this cap?

Will you compensate say the pension funds who own significant stakes in these oil and gas companies? That will hit those who have saved for retirement.

Does this apply to all UK based gas producers? What about their non-UK assets? What if it is a foreign domiciled company but operating in the UK?

Protectionist actions almost always are bad for the consumer in the long run.

london21

Can's believe average price from October around £300 per month.