Post EPG energy prices

ariarnia

BUFF said:

https://www.cityam.com/energy-prices-will-not-return-to-normal-this-decade-warns-cornwall-insight/

that was published on the 19th oct. which was only last week but was also a government ago! it talks about the markets being unsettled by talks of capping profits. it will be interesting to see if the new pm keeps this policy in his scary halloween budget and if they change that prediction like they have with the borrowing and interest rates. 

BUFF

It was really Cornwall Insights graph of projected years ahead that I posted it for as an indicator of likely/potential pricing level trends in the future.
At that level I believe that it is largely based on factors larger than individual UK govts. i.e. the markets & world economy as hopefully supply issues (& very hopefully the Ukraine war) get resolved.
Of course, equally it could be subject to further shocks or be a total fairy tale! 

We are all going to have to get used to paying substantially more for our energy than we had become used to. 

tghe-retford

ariarnia said:

BUFF said:

https://www.cityam.com/energy-prices-will-not-return-to-normal-this-decade-warns-cornwall-insight/

that was published on the 19th oct. which was only last week but was also a government ago! it talks about the markets being unsettled by talks of capping profits. it will be interesting to see if the new pm keeps this policy in his scary halloween budget and if they change that prediction like they have with the borrowing and interest rates. 

Not to mention that the World Bank has now intervened by asking countries to remove all help and caps for energy bills as soon as possible on the basis that it is unaffordable.

As we have seen, ignore them, the IMF and the markets at your peril because they have the power to bring down Governments if they don't get listened to.

GingerTim

tghe-retford said:

ariarnia said:

BUFF said:

https://www.cityam.com/energy-prices-will-not-return-to-normal-this-decade-warns-cornwall-insight/

that was published on the 19th oct. which was only last week but was also a government ago! it talks about the markets being unsettled by talks of capping profits. it will be interesting to see if the new pm keeps this policy in his scary halloween budget and if they change that prediction like they have with the borrowing and interest rates. 

Not to mention that the World Bank has now intervened by asking countries to remove all help and caps for energy bills as soon as possible on the basis that it is unaffordable.

As we have seen, ignore them, the IMF and the markets at your peril because they have the power to bring down Governments if they don't get listened to.

The World Bank haven't said that - they have advised removing universal support for energy bills, and instead target help at those who need it most. Which is what the government have said they are going to do here come April, anyway.

https://www.bbc.co.uk/news/business-63386350

tghe-retford

GingerTim said:

tghe-retford said:

ariarnia said:

BUFF said:

https://www.cityam.com/energy-prices-will-not-return-to-normal-this-decade-warns-cornwall-insight/

that was published on the 19th oct. which was only last week but was also a government ago! it talks about the markets being unsettled by talks of capping profits. it will be interesting to see if the new pm keeps this policy in his scary halloween budget and if they change that prediction like they have with the borrowing and interest rates. 

Not to mention that the World Bank has now intervened by asking countries to remove all help and caps for energy bills as soon as possible on the basis that it is unaffordable.

As we have seen, ignore them, the IMF and the markets at your peril because they have the power to bring down Governments if they don't get listened to.

The World Bank haven't said that - they have advised removing universal support for energy bills, and instead target help at those who need it most. Which is what the government have said they are going to do here come April, anyway.

https://www.bbc.co.uk/news/business-63386350

I suspect any help will transfer to voluntary schemes from energy companies such as the British Gas Trust rather than from the Government. They have a £40bn gap to find at least and help on energy bills will be a target as it was a Truss/Kwarteng policy. Maybe something will stay for pensioners and the disabled but don't bank on it. All bets are off.

Alnat1

Plenty of disabled and pensioners who can afford it. It needs to be targeted at specific households who can't afford it, not groups of people who might not be able to.

[Deleted User]

Alnat1 said:

Plenty of disabled and pensioners who can afford it. It needs to be targeted at specific households who can't afford it, not groups of people who might not be able to.

That would be almost impossible to administer without a horrendously complex system that probably wouldn’t work anyway.

Staffordian11

Alnat1 said:

Plenty of disabled and pensioners who can afford it. It needs to be targeted at specific households who can't afford it, not groups of people who might not be able to.

I think everyone accepts this, but finding a way to implement it that doesn't involve spending a fortune on bureaucracy to administer it is the stumbling block. 

cjbennett2

Alnat1 said:

Plenty of disabled and pensioners who can afford it. It needs to be targeted at specific households who can't afford it, not groups of people who might not be able to.

I think everyone accepts this, but finding a way to implement it that doesn't involve spending a fortune on bureaucracy to administer it is the stumbling block. 

surely the best way of targeting is through the benefits system / universal credit. it's not perfect but it's better than starting from scratch and avoids any additional funding requirements for administering.

Staffordian11

cjbennett2 said:

Alnat1 said:

Plenty of disabled and pensioners who can afford it. It needs to be targeted at specific households who can't afford it, not groups of people who might not be able to.

I think everyone accepts this, but finding a way to implement it that doesn't involve spending a fortune on bureaucracy to administer it is the stumbling block. 

surely the best way of targeting is through the benefits system / universal credit. it's not perfect but it's better than starting from scratch and avoids any additional funding requirements for administering.

Probably a good starting point, but what about pensioners who get no benefits but perhaps have just a small occupational pension and a modest state pension? No system can 100% pick up just those who need help.