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Discretionary Fund for Heating Oil and Bulk LPG
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2Gundogs said:I don't understand how this will work for heating oil. I filled my tank just as the price troughed in August, but that was still almost twice the price it had been 12 months before. Do people like me get nothing because we're not buying our oil after the announcement has been made?
We did it for certainty and in the case of the electric it has cost us more since May than SVR in anticipation of savings from October that are not to be, but it's a risk we took.
Government goalpost moving "help" will always result in a proportion getting no help at all, it is as it has always been.
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2Gundogs said:I don't understand how this will work for heating oil. I filled my tank just as the price troughed in August, but that was still almost twice the price it had been 12 months before. Do people like me get nothing because we're not buying our oil after the announcement has been made?Nobody understands it yet.And lets not forget, that oil is currently cheaper than it was last winter. So, why support it now but not last year when it was much higher.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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I'm not sure I agree with that statement:
https://www.boilerjuice.com/heating-oil-prices/
The price of oil was about 65p between October 2021 and March 2022. Only then did the price rocket due to panic buying but then settle at about 100p a few weeks later. Slightly cheaper from other suppliers apparently
So one would expect that most oil users would have bought most of their oil last winter at about 65p and perhaps if they were unlucky one top-up at the very high price.
I did Oct: 60p, Jan: 68p and March end: 85p. Average 71p over the winter.
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Boiler Juice have been in touch about the energy price freeze, saying they don't know yet what the plans are for the discretionary fund announced for heating oil, trailer parks, etc but that they will stay in touch once they have been informed.
Not sure if this means they are just assuming they will be getting relief to sell at frozen prices opposed to a grant going to customers instead, or they already know something we don't yet. Hopefully some news will be confirmed soon though. As someone mentioned above, many people are (hopefully) already stocked up for this winter, as we're in a slightly different position to many other households as to when we have to find the money to pay our heating bills for this winter.0 -
annabanana82 said:wwally said:QrizB said:We'll have to wait and see, but hypothetically they could decide to cap bulk oil and LPG prices at the same level as mains gas.Eg. if gas is capped at 10p/kWh, oil and LPG could be capped at the same price.This would mean a price cap of around 100p a litre for oil, and 70p a litre for LPG.
Sept 21 - 750l £364
Sept 22 - 750l £680
Capping at £1ppl would be a further increase, yet I guess that's not so fundamentally different to electric and gas.
My 2,500L tank is all but empty and I'm holding off for next week's financial statement from the Chancellor, just in case.0 -
Apodemus said:annabanana82 said:wwally said:QrizB said:We'll have to wait and see, but hypothetically they could decide to cap bulk oil and LPG prices at the same level as mains gas.Eg. if gas is capped at 10p/kWh, oil and LPG could be capped at the same price.This would mean a price cap of around 100p a litre for oil, and 70p a litre for LPG.
Sept 21 - 750l £364
Sept 22 - 750l £680
Capping at £1ppl would be a further increase, yet I guess that's not so fundamentally different to electric and gas.
My 2,500L tank is all but empty and I'm holding off for next week's financial statement from the Chancellor, just in case.Make £2023 in 2023 (#36) £3479.30/£2023
Make £2024 in 2024...0 -
Martin Lewis on GMB this morning said that there has been no further information on the help for Bulk LPG / Heating Oil etc and he thinks this is unlikely to be in place for 1st October. Given it appears little was in place for normal on-grid consumers - and this is still trickling out - this seems believable. It does not help those of us waiting to know before we commit to fill up for the winter and renegotiate contracts.=============================
2 properties on rural South Wales farm
Electric - Fuse Energy £180pm, PV - EON.Next 4kW
LPG - Calor 1600 litres pa Heating Oil 2000 litres pa
3 wood burners from own woodland1 -
Rees-Mogg (Secretary of State for Business, Energy and Industrial Strategy) speaking on Sky at 11:40 today said that support for heating oil, bottled gas and coal is on its way, citing Northern Ireland as the locality where this is most required.=============================
2 properties on rural South Wales farm
Electric - Fuse Energy £180pm, PV - EON.Next 4kW
LPG - Calor 1600 litres pa Heating Oil 2000 litres pa
3 wood burners from own woodland0 -
wwally said:The announcement of the support for energy prices from October 1st included a "Discretionary fund for heating oil users". I assume this also includes Bulk LPG. The statement said it was aimed to provide "equivalent support" to that offered to mains fuel users.
No further information has yet been released.
Given these markets are essentially deregulated, the way this fund will be deployed is of great interest.
Questions like:
1. Whose discretion is it?
2. How much is available?
3. How will suppliers apply the fund fairly? How do we know they are not inflating the base price before giving a discount?
4. Do all bulk suppliers offer the scheme?
5. How does it work with budget accounts?
6. When does it apply? (I assume 24 months from 1/10/22)
The government will also provide an additional payment of £100 to households across the UK who are not able to receive support for their heating costs through the Energy Price Guarantee. This might be because they live in an area of the UK that is not served by the gas grid and is to compensate for the rising costs of alternative fuels such as heating oil.
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jiggy2 said:wwally said:The announcement of the support for energy prices from October 1st included a "Discretionary fund for heating oil users". I assume this also includes Bulk LPG. The statement said it was aimed to provide "equivalent support" to that offered to mains fuel users.
No further information has yet been released.
Given these markets are essentially deregulated, the way this fund will be deployed is of great interest.
Questions like:
1. Whose discretion is it?
2. How much is available?
3. How will suppliers apply the fund fairly? How do we know they are not inflating the base price before giving a discount?
4. Do all bulk suppliers offer the scheme?
5. How does it work with budget accounts?
6. When does it apply? (I assume 24 months from 1/10/22)
The government will also provide an additional payment of £100 to households across the UK who are not able to receive support for their heating costs through the Energy Price Guarantee. This might be because they live in an area of the UK that is not served by the gas grid and is to compensate for the rising costs of alternative fuels such as heating oil.0
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