End of the EBSS

nekr0mantik

Does anyone know what the "targeted" support from April will be for Energy from government? 
They still not said anything and its 2 months away!
I got a feeling it will be means tested so if your on a benefit or pension then maybe they will carry on giving you payments but if not it will stop. 
Not looking forward to having my bills go to £100 a month from April. Im not poor or rich but it will stick impact my monthly finances negatively. 

MattMattMattUK

nekr0mantik said:

Does anyone know what the "targeted" support from April will be for Energy from government? 
They still not said anything and its 2 months away!
I got a feeling it will be means tested so if your on a benefit or pension then maybe they will carry on giving you payments but if not it will stop. 
Not looking forward to having my bills go to £100 a month from April. Im not poor or rich but it will stick impact my monthly finances negatively. 

They announced the broad strokes at the mini budget and the details in December last year. The EPG is not ending, the cap figure is rising from a nominal £2,500 to £3,000. The currently announced handouts are £900 to people in receipt of certain benefits through to the end of the financial year.

nekr0mantik

MattMattMattUK said:

nekr0mantik said:

Does anyone know what the "targeted" support from April will be for Energy from government? 
They still not said anything and its 2 months away!
I got a feeling it will be means tested so if your on a benefit or pension then maybe they will carry on giving you payments but if not it will stop. 
Not looking forward to having my bills go to £100 a month from April. Im not poor or rich but it will stick impact my monthly finances negatively. 

They announced the broad strokes at the mini budget and the details in December last year. The EPG is not ending, the cap figure is rising from a nominal £2,500 to £3,000. The currently announced handouts are £900 to people in receipt of certain benefits through to the end of the financial year.

oh missed that haha
so will the £67 a month we getting at moment carry on but bills will be capped at higher amount but those on benefits will get extra payments?

MattMattMattUK

nekr0mantik said:

MattMattMattUK said:

nekr0mantik said:

Does anyone know what the "targeted" support from April will be for Energy from government? 
They still not said anything and its 2 months away!
I got a feeling it will be means tested so if your on a benefit or pension then maybe they will carry on giving you payments but if not it will stop. 
Not looking forward to having my bills go to £100 a month from April. Im not poor or rich but it will stick impact my monthly finances negatively. 

They announced the broad strokes at the mini budget and the details in December last year. The EPG is not ending, the cap figure is rising from a nominal £2,500 to £3,000. The currently announced handouts are £900 to people in receipt of certain benefits through to the end of the financial year.

oh missed that haha
so will the £67 a month we getting at moment carry on

No, the £66/67 is the Energy Bills Support Scheme (EBSS), that will finish in March.

nekr0mantik said:
but bills will be capped at higher amount

The unit rate will be capped based on the £3,000 figure, not the bills themselves remember (eg. if you use more you pay more, use less you pay less).

nekr0mantik said:
but those on benefits will get extra payments?

Yes, those on qualifying benefits will get additional cost of living support payments of £900.

nekr0mantik

yes I meant EBSS rather then EPG 
guess i gotta budget for the increase in energy bills then lol

gt94sss2

MattMattMattUK said:

nekr0mantik said:

Does anyone know what the "targeted" support from April will be for Energy from government? 
They still not said anything and its 2 months away!
I got a feeling it will be means tested so if your on a benefit or pension then maybe they will carry on giving you payments but if not it will stop. 
Not looking forward to having my bills go to £100 a month from April. Im not poor or rich but it will stick impact my monthly finances negatively. 

They announced the broad strokes at the mini budget and the details in December last year. The EPG is not ending, the cap figure is rising from a nominal £2,500 to £3,000.

Are there any estimates of what the new EPG capped rates will be when the nominal cap is increased?

MattMattMattUK

gt94sss2 said:

MattMattMattUK said:

nekr0mantik said:

Does anyone know what the "targeted" support from April will be for Energy from government? 
They still not said anything and its 2 months away!
I got a feeling it will be means tested so if your on a benefit or pension then maybe they will carry on giving you payments but if not it will stop. 
Not looking forward to having my bills go to £100 a month from April. Im not poor or rich but it will stick impact my monthly finances negatively. 

They announced the broad strokes at the mini budget and the details in December last year. The EPG is not ending, the cap figure is rising from a nominal £2,500 to £3,000.

Are there any estimates of what the new EPG capped rates will be when the nominal cap is increased?

No one knows yet for sure but my back of an envelope calculations come out below, based on no change in the standing charge and based on the averages across the country I get those below. The big potential elephant in the room is the SoLR cost of £6.5 billion from Bulb, which may well be added to the standing charge with the big question being if it is added over what period will it be recovered.  

Electricity

Per kWh £0.43

Standing Charge £0.46

Gas

Per kWh £0.13

Standing Charge £0.28

pochase

Above calculations are correct if the Ofgem cap is higher than the £3000. Should it be below £3000 (extremely unlikely) the rates would be lower.

The new Ofgem cap will be announced at the end of February when the observation period ends (35 days before the 1st of April)

macman

If you are only spending £100 a month then your spend is less than half the UK average. For the last 5 months you've only been paying £34/£33 per month after allowing for the EBSS.

nekr0mantik

macman said:

If you are only spending £100 a month then your spend is less than half the UK average. For the last 5 months you've only been paying £34/£33 per month after allowing for the EBSS.

Well I am in a 1 bed apartment so yes costs are not as high as others. 

macman

My point was that even though your spend is far less than the average, you have still been getting the same flat rate £400 EBSS +£150 C Tax support as everyone else.