What happens to the Energy Price Guarantee in April?

jaxkesa

Well I hope the fix I signed up to 2 months ago which has since been changed to the EPG rate will still be honoured in April for the remainder of its term.

DiseasedBunny

jaxkesa said:

Well I hope the fix I signed up to 2 months ago which has since been changed to the EPG rate will still be honoured in April for the remainder of its term.

Doubt it… 

Saga

DiseasedBunny said:

jaxkesa said:

Well I hope the fix I signed up to 2 months ago which has since been changed to the EPG rate will still be honoured in April for the remainder of its term.

Doubt it… 

I finally got my bill today and still shows my 'flexi' tariff with its original end date in 2023. But I put nothing past these companies!

njm123

Saga said:

Hunt's just announced that the EPG will remain in place only till April 2023. A "Treasury-led review" will take place with the "objective to design a new approach that will cost the taxpayer significantly less than planned whilst ensuring enough support for those in need. Any support for businesses will be targeted to those in most affected and the new approach will better incentivise energy efficiency."

For which read   "If we deem you poor enough you will get help, if not you can subsidise the poor through your taxes and your bills"

deano2099

jaxkesa said:

Well I hope the fix I signed up to 2 months ago which has since been changed to the EPG rate will still be honoured in April for the remainder of its term.

I think they're contractually obliged to do so (at the original, not the EPG rate). What they may not be contractually obliged to do is apply the EPG discount to the fix? It's possible energy companies may now give people the option of keeping their fix at the full rate, with no discount, for the full term, or just dropping to the SVT on the EPG rate, with whatever that ends up being in April.
There was no need to do this previously, as those options would have had identical results.

maisie_cat

jaxkesa said:

Well I hope the fix I signed up to 2 months ago which has since been changed to the EPG rate will still be honoured in April for the remainder of its term.

Did you change to SVR or did they simply add a discount, my fix still shows as it was on the BG website but has been discounted by of 1/10th of a penny!
I deliberately chose not to transfer to SVR because I do not trust the Gov't as far as I can throw it.
I suspected that there would be "tweaking" after six months and either we will all benefit by a similar absolute amount or only select groups will get help.

Astria

njm123 said:

Saga said:

Hunt's just announced that the EPG will remain in place only till April 2023. A "Treasury-led review" will take place with the "objective to design a new approach that will cost the taxpayer significantly less than planned whilst ensuring enough support for those in need. Any support for businesses will be targeted to those in most affected and the new approach will better incentivise energy efficiency."

For which read   "If we deem you poor enough you will get help, if not you can subsidise the poor through your taxes and your bills"

Yep, "If you are struggling to pay your bills now, just wait until we remove the current funding, oh and btw, next year you'll be paying for those that still qualify for the funding"

Astria

jaxkesa said:

Well I hope the fix I signed up to 2 months ago which has since been changed to the EPG rate will still be honoured in April for the remainder of its term.

I'd expect it go up to it's pre-EPG rate.

daveyjp

Safe to say from April the average £2,500 cap will no longer apply to the vast majority of bill payers.

StevieJ

deano2099 said:

jaxkesa said:

Well I hope the fix I signed up to 2 months ago which has since been changed to the EPG rate will still be honoured in April for the remainder of its term.

I think they're contractually obliged to do so (at the original, not the EPG rate). What they may not be contractually obliged to do is apply the EPG discount to the fix? It's possible energy companies may now give people the option of keeping their fix at the full rate, with no discount, for the full term, or just dropping to the SVT on the EPG rate, with whatever that ends up being in April.
There was no need to do this previously, as those options would have had identical results.

Surely they will apply EPG until April then revert to the original fix as this is financed by the govt until then, also it is now administratively in place.