Are many missing the point of the £400

[Deleted User]

It was always a given that the £400 would end up in consumers’ pockets. Even ML was echoing the chant of ‘Heat or Eat’.  Suppliers will set DD payments to cover the cost of energy used. These will be undoubtedly be much higher than those of a year ago but reduced by the Grant. The fact that the grant is being distributed monthly only to those on supply rather than in a £400 one off payment mitigates against a Christmas Big Bash  - unless people are minded to load their credit cards and repay once the Jan to Mar payments are received. I suspect that many are just grateful for the extra financial help.

[Deleted User]

I've used the £400 already to pay for a winter holiday in the sun.

All my heating / elec will be switched off that week so saving even more money - hoping it is a really cold week in the UK.

Win-win.

oliverbrown

[Deleted User] said:

hoping it is a really cold week in the UK.

Gee, thanks.

molerat

I expect the government are hoping some of it will find its way back into the economy to help kick start things. 

oliverbrown

molerat said:

I expect the government are hoping some of it will find its way back into the economy to help kick start things. 

People who heat their homes with gas, i.e. most people, are going to see an increase in their overall energy bills in excess of the £67. It's not spare money to me, at least.

GunJack

I know the govt have said the price cap should operate over 2 winters, but there's no saying it either won't change or that "normal" uncapped prices won't be even higher come the end of that period.... I'll be aiming to have a large credit on my elec/gas account by the end of the 6 months to be carried over to when the cap ends, and will aim to keep it there in case of price armageddon!!!! lol

BobT36

GunJack said:

I'll be aiming to have a large credit on my elec/gas account by the end of the 6 months to be carried over to when the cap ends, and will aim to keep it there in case of price armageddon!!!! lol

But why? Why give private companies with millionaire CEOs running them your extra money you don't owe at that time? They're not charities. 

Your money is better in your bank than theirs. Stick it in a savings account till it's needed. 

BUFF

Sea_Shell said:

I've said on another thread, that I think there will knock on issues from the way this is being done, in that energy account balances will not be reduced (or credit built up), and the £400's will get swallowed up elsewhere.

We'll all be better off by £400, but how much will actually go directly towards energy?

All of mine will. My gas bill alone over the winter 6 months will be ~£600.

Mstty

BUFF said:

Sea_Shell said:

I've said on another thread, that I think there will knock on issues from the way this is being done, in that energy account balances will not be reduced (or credit built up), and the £400's will get swallowed up elsewhere.

We'll all be better off by £400, but how much will actually go directly towards energy?

All of mine will. My gas bill alone over the winter 6 months will be ~£600.

We will spend roughly £1040 on electricity for the six months October-March. (If it's mild) so the £400 will be very handy.

The_Green_Hornet

The £400, plus the earlier £150, will just about cover my electricity consumption for a year.

That gives me £550 to spend on something else.  Probably my gas bill.