Are many missing the point of the £400

[Deleted User]

Vegastare said:

Since last April have but £150 away for Utility bill, now they claim they have adjusted this to £83 something.
I will still budget for the £150 each month - if it stays in our DD payments account and builds up fine, if DD rises for utility bills it's there.

What really bugs me is the idea - and so many people have this idea- that no matter what they use this winter it will not be more than £2100 tops.  Hubby spent ages trying to get this over to his Uncle who just could not grasp that it was the average bill some people could pay less or more if they used more.  The conversation ended with Uncle still insisting his own bill was capped at £2500 less the £400 from the "Conservatives" so he isn't worried about what they use!!

Many people seem to have this same thing stuck in their head, an all-you-can-eat energy buffet.  I've even seen someone complaining that their usual £1500 annual bill was being put up to £2500 by the government.

t0rt0ise

Cardew said:

[Deleted User] said:

 Sensible people should act like squirrels and put the money somewhere safe to pay for future energy costs: if not this Winter, then next

With the £10 Xmas bonus payment, that pensioners get from the Government, we have a family conference, put the issue to a vote and normally save it up for four years and then blow it all on a bottle of half-decent malt whisky.

I'd forgotten about that £10. I shall put it together with the £5 tax savings the government have so kindly given me by lowering tax. It won't quite make enough for a bottle of gin in 2023 but maybe in 2024.

Chrysalis

There will be many people who dont have the luxury of the choice, bear in mind right now we have millions in desperation, the April cap was already too much for them.

My recent conversation with Morrisons e.g. on why they dont take payment on order because there is too many people who cant even afford to have the cost of a week's shopping in limbo on the financial system for a week.

But for those who are not living using every £ they have its an interesting question.

My account is still about £100 and something in debit as my balance was not fully cleared after Octopus rebated me, so I will be manually doing a topup payment of £67 on my DD day to help clear that balance.  Probably the same in November, and then will monitor things from there, I think sticking it in a separate account isnt the sort of thing I do though.  I am able to discipline my spending with just one account.

Chrysalis

[Deleted User] said:

Vegastare said:

Since last April have but £150 away for Utility bill, now they claim they have adjusted this to £83 something.
I will still budget for the £150 each month - if it stays in our DD payments account and builds up fine, if DD rises for utility bills it's there.

What really bugs me is the idea - and so many people have this idea- that no matter what they use this winter it will not be more than £2100 tops.  Hubby spent ages trying to get this over to his Uncle who just could not grasp that it was the average bill some people could pay less or more if they used more.  The conversation ended with Uncle still insisting his own bill was capped at £2500 less the £400 from the "Conservatives" so he isn't worried about what they use!!

Many people seem to have this same thing stuck in their head, an all-you-can-eat energy buffet.  I've even seen someone complaining that their usual £1500 annual bill was being put up to £2500 by the government.

So many I know think this, I think mostly caused by the fixed DD craze.  Now they think the EPG is all you can eat as well exactly as you said.

bristolleedsfan

t0rt0ise said:

Cardew said:

Dolor said:

 Sensible people should act like squirrels and put the money somewhere safe to pay for future energy costs: if not this Winter, then next

With the £10 Xmas bonus payment, that pensioners get from the Government, we have a family conference, put the issue to a vote and normally save it up for four years and then blow it all on a bottle of half-decent malt whisky.

I'd forgotten about that £10. I shall put it together with the £5 tax savings the government have so kindly given me by lowering tax. It won't quite make enough for a bottle of gin in 2023 but maybe in 2024.

Has your tax been lowered by that much bearing in mind income tax personal allowance and higher rate threshold  have been frozen since 6 April 2022, currently due to stay frozen until 5 April 2026 .....

wrf12345

Compared to most countries, the £12500 personal allowance is very generous, especially as it now includes NI as well as tax, and given the dreadful finances of the country it is a bit churlish to complain about it being frozen - probably for the next ten years. The big rip off is council tax, which kills people trying to live off the state pension rather than benefits, whilst councils waste most of the money. 

bristolleedsfan

wrf12345 said:

Compared to most countries, the £12500 personal allowance is very generous, especially as it now includes NI as well as tax, and given the dreadful finances of the country it is a bit churlish to complain about it being frozen - probably for the next ten years.  

"Around 5million workers are expected to be dragged into paying tax over the next four years because their income will go over the tax-free personal allowance of £12,570"

"A further 3.9million middle-income earners will be pulled into the 40% tax bracket as wages increase over time"

The_Green_Hornet

bristolleedsfan said:

wrf12345 said:

Compared to most countries, the £12500 personal allowance is very generous, especially as it now includes NI as well as tax, and given the dreadful finances of the country it is a bit churlish to complain about it being frozen - probably for the next ten years.  

"Around 5million workers are expected to be dragged into paying tax over the next four years because their income will go over the tax-free personal allowance of £12,570"

"A further 3.9million middle-income earners will be pulled into the 40% tax bracket as wages increase over time"

That was the exact reason why Rishi Sunak froze the allowances - to get more tax.

the_lunatic_is_in_my_head

philipbin said:

For people who pay by Direct debit
.....
Bulb, E.on/E.on Next, Octopus Energy, Shell Energy, So Energy and Utility Warehouse the direct debit will be reduced automatically.

With Octopus here, our DD was £112.99, they've said from the 1st of October new DD will be £111.71 and "This is £67.00 less per property than usual, to pass on the discount of the Energy Bill Support Scheme. From October, you'll receive a monthly discount on your account of £66 (rising to £67 from December to March) from the Government."

So I'm assuming they will take £111.71 plus credit the account with the £66/67, is that correct?

If my maths is correct that's effectively around a 57% DD increase to cover around a 24% cost increase (28p to 35p), with our energy usage being constant over the year (if not a little higher in the summer) hopefully we'll end up a bit in credit to cover whatever comes next from April 23 with nothing extra coming from our pocket over the next 6 months.

Vegastare

the_lunatic_is_in_my_head said:

philipbin said:

For people who pay by Direct debit
.....
Bulb, E.on/E.on Next, Octopus Energy, Shell Energy, So Energy and Utility Warehouse the direct debit will be reduced automatically.

With Octopus here, our DD was £112.99, they've said from the 1st of October new DD will be £111.71 and "This is £67.00 less per property than usual, to pass on the discount of the Energy Bill Support Scheme. From October, you'll receive a monthly discount on your account of £66 (rising to £67 from December to March) from the Government."

So I'm assuming they will take £111.71 plus credit the account with the £66/67, is that correct?

If my maths is correct that's effectively around a 57% DD increase to cover around a 24% cost increase (28p to 35p), with our energy usage being constant over the year (if not a little higher in the summer) hopefully we'll end up a bit in credit to cover whatever comes next from April 23 with nothing extra coming from our pocket over the next 6 months.

I am with Octopus and the way I read it was they are reducing my DD by £67 so my normal £150 is going to be £83 for Octobers payment.  I am still leaving the surplus in my DD payments accounts.