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Energy Price Guarantee No Longer 2 years just 6 months at current level

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  • xeny
    xeny Posts: 112 Forumite
    100 Posts Second Anniversary Name Dropper
    Robgmun said:
    We only have the boiler on 1hr twice a day to make sure everyone has enough hot water to shower and clean the dishes, brush their teeth etc. 

    Maybe I'm doing it wrong, but I've always used cold water for this?
  • tghe-retford
    tghe-retford Posts: 1,023 Forumite
    Part of the Furniture 500 Posts Name Dropper Photogenic
    edited 17 October 2022 at 4:34PM
    I can't see any guarantee that if the price protection is lifted, the Chancellor (or de-facto PM if you like) may pass the decision to set price caps back to Ofgem as pre-September. The rhetoric I am seeing is "if the Chancellor allows", no talk of "reversion".

    We could potentially be left to the mercy of the markets!
  • ariarnia
    ariarnia Posts: 4,225 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    doesn't the law say ofgem set the cap? there us currently a cap set by ofgem and the government arrangement is a discount on that cap being paid to the energy supplier. the discount might end but then we'd drop to the existing ofgem cap not to the free market i would have thought 
    Almost everything will work again if you unplug it for a few minutes, including you. Anne Lamott

    It's amazing how those with a can-do attitude and willingness to 'pitch in and work' get all the luck, isn't it?

    Please consider buying some pet food and giving it to your local food bank collection or animal charity. Animals aren't to blame for the cost of living crisis.
  • Spoonie_Turtle
    Spoonie_Turtle Posts: 10,347 Forumite
    10,000 Posts Fifth Anniversary Name Dropper
    xeny said:
    Robgmun said:
    We only have the boiler on 1hr twice a day to make sure everyone has enough hot water to shower and clean the dishes, brush their teeth etc. 

    Maybe I'm doing it wrong, but I've always used cold water for this?
    You evidently don't have sensitive teeth.  (Warm water though, not hot.)
  • BUFF
    BUFF Posts: 2,185 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    edited 17 October 2022 at 5:06PM
    ariarnia said:
    doesn't the law say ofgem set the cap? there us currently a cap set by ofgem and the government arrangement is a discount on that cap being paid to the energy supplier. the discount might end but then we'd drop to the existing ofgem cap not to the free market i would have thought 
    who knows https://www.telegraph.co.uk/business/2022/10/15/energy-price-cap-torn-plans-considered-whitehall/
  • lisyloo
    lisyloo Posts: 30,077 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    BUFF said:
    ariarnia said:
    doesn't the law say ofgem set the cap? there us currently a cap set by ofgem and the government arrangement is a discount on that cap being paid to the energy supplier. the discount might end but then we'd drop to the existing ofgem cap not to the free market i would have thought 
    who knows https://www.telegraph.co.uk/business/2022/10/15/energy-price-cap-torn-plans-considered-whitehall/
    Thanks for the link, but anything being planned by this govt is now worth spending time on. It might all be changed in a matter of days.
  • Ultrasonic
    Ultrasonic Posts: 4,265 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    'Targeted' help will lead to resentment,
    Bear in mind that 'untargeted' support can also lead to resentment. I was not at all happy about the concept of potentially huge government debt being built up through providing 'support' to many who didn't need it (including myself).
  • Ultrasonic
    Ultrasonic Posts: 4,265 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Also, why didn't they lower VAT on fuel, or altogether, get rid of it?
    As well of the issue of having to pay for it that has been mentioned, the other issue is that this is untargeted beyond benefiting those who use more energy most.
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