Energy Price Guarantee (announced 8 Sep): initial reaction & questions

The_Green_Hornet

Mstty said:

Not sure the fee free leaving the fixes was all Martin but he seems to want to take credit for it. But this is good news

St. Martin of Lewis will take credit for everything.

Paolas

Any help is good BUT the rebate should at least be means tested so big earners or rich pensioners get less or none. Price cap for everybody? If I spend 25% of my monthly wage in energy bills I feel I am being laughed at by other people who spend (even by using more) a lot smaller percentage of their monthly income on bills.Why is the UK so averse to means testing? Why do we all become the same sometimes but we are not the same?

[Deleted User]

Paolas said:

Any help is good BUT the rebate should at least be means tested so big earners or rich pensioners get less or none. Price cap for everybody? If I spend 25% of my monthly wage in energy bills I feel I am being laughed at by other people who spend (even by using more) a lot smaller percentage of their monthly income on bills.Why is the UK so averse to means testing? Why do we all become the same sometimes but we are not the same?

Or to translate - "please give me help but not all those other people"?

No_worries

This £2500 price cap is all very well but what we need to know is the actual capped unit prices and standing charges so we can work out our own nightmares…?

[Deleted User]

No_worries said:

This £2500 price cap is all very well but what we need to know is the actual capped unit prices and standing charges so we can work out our own nightmares…?

We'll get you them as soon as they are published.  Or rather, as soon as the background numbers are published so we can calculate them.

Mstty

No_worries said:

This £2500 price cap is all very well but what we need to know is the actual capped unit prices and standing charges so we can work out our own nightmares…?

Indeed and do you think once you have reached £2500 of usage it then reverts to the Ofgem published October first rates of circa 14.8p kWh gas and 51.8p kWh electricity or do we think the sky's the limit of this price cap freeze?

[Deleted User]

So - to follow my last - Martin has tweeted that he understands standing charges to be fixed at the October 2022 level.

That means all the change will be in unit prices.

SnakePlissken

For those that are all electric and do not have gas.

Does anyone know what the economy 7 unit rates for day and night will be?

[Deleted User]

SnakePlissken said:

For those that are all electric and do not have gas.

Does anyone know what the economy 7 unit rates for day and night will be?

Nothing published for that yet.

wrf12345

"So - to follow my last - Martin has tweeted that he understands standing charges to be fixed at the October 2022 level."
Very high, in other words, but covered by the £400 handout and almost covered by the winter fuel allowance which I will get next year (it will probably go up). I have lower s/c on my BG fix until March so will probably stay on it, but at least the transition to the new unit rates won't be too horrendous. I am an ultra low user of electric and have the gas turned off at the mains. Keeping the standing charges does show the govn is in the energy co's pockets and they will let them keep ripping off consumers, though. I have decided not to pay any silly money to the energy companies even though my income is increasing nicely.