MSE News: Budget 2023: Energy Price Guarantee to remain at £2,500 in win for Martin Lewis and MSE

Malchester

Why should Martin Lewis think he has made the government do this? It was always on the cards. It also adds more debt to be repaid in years to come. Give with one hand take away with the other 

Qyburn

maisie_cat said:

So far we've received nothing from the EPG so forgive me if I think that ML is only interested in his profile or limiting the cost of heating his pool.

How is that, out of interest?

There are a few cases where this would apply but leave the customer still better off. A cheap fix meaning the supplier is selling at a loss (subsidised by other customers), and some creative tariffs like Tracker where the EPG provides indirect benefit as a partial safety net.

As far as I'm aware the only people not receiving EPG and actually worse off are those who don't have normal domestic electric or gas supplies.

I don't know how many are affected that way, but it's another argument against these untargetted hand outs. 

casjen

Malchester said:

Why should Martin Lewis think he has made the government do this? It was always on the cards. It also adds more debt to be repaid in years to come. Give with one hand take away with the other 

Exactly this person has no influence on anything.. try as he might to push himself in the media. It was always a government policy.

MattMattMattUK

MSE_Helen_K said:

Typical household energy bills will remain at £2,500 a year for at least three months from 1 April as the Government has heeded ours, and others, calls to postpone a planned 20% rise. The announcement ahead of today's Budget follows a month-long campaign led by Martin Lewis, founder of MoneySavingExpert.com, which has been backed by 130 charities and consumer organisations.

Read the full story:
'Budget 2023: Energy Price Guarantee to remain at £2,500 in win for Martin Lewis and MSE - here's what it means for your bills'

If you haven’t already, join the forum to reply.

It is only a win if you are not one of the people who have to pay for it!

MattMattMattUK

maisie_cat said:

So far we've received nothing from the EPG so forgive me if I think that ML is only interested in his profile or limiting the cost of heating his pool.

Have you been on a fix that is less than the EPG rates, or are you off grid?

EssexHebridean

maisie_cat said:

So far we've received nothing from the EPG so forgive me if I think that ML is only interested in his profile or limiting the cost of heating his pool.

In which case you are either fortunate because you are on a super-low fix meaning you are already paying less than the EPG level, or you have taken a decision to go fully off-grid which in itself usually requires a degree of financial privilege to be able to afford in the first place. You surely agree that just because YOU can't benefit from something though, that doesn't mean that there are others out there who might need that help? Personally as a household there are many benefits that we have never claimed because we've not been eligible - that doesn't mean I think that others shouldn't be able to claim them though - that attitude just smacks of an "It's not FAIIIIIIR!" whinge to me.

Malchester said:

Why should Martin Lewis think he has made the government do this? It was always on the cards. It also adds more debt to be repaid in years to come. Give with one hand take away with the other 

The Chancellor name-checking him in his statement may well be a factor... 

maisie_cat

MattMattMattUK said:

maisie_cat said:

So far we've received nothing from the EPG so forgive me if I think that ML is only interested in his profile or limiting the cost of heating his pool.

Have you been on a fix that is less than the EPG rates, or are you off grid?

Bit of both, we fixed electric last May on a kWh rate identical to the EPG with a SC of 61p. We paid more than SVR at the time to protect ourselves because our fuel bills are 20% of our gross income. We heat with wood which has increased from 6p/kWh to 14p/kWh.
I think the EPG is wrong and should not be subsidising those rich enough to run swimming pools and hot tubs with Gov subsidy.
There are more element ways of helping ordinary people with normal usage while mmotivating all of us to use.

bristolleedsfan

superkoopauk said:

One thing that doesn't appear to be picked up on is that some customers who were on a fixed tariff originally well above £2500 level will see their prices go up from April as the EPG support they receive is less.  There wont be many still on these tariffs now but it will be counter intuitive for the ones that are to see a price increase notice come through the door!  

 EPG discount from 1 April will be broadly similar to what it was 1 October - 31 December, everyone who was on much more expensive fixes were able to change to SVR around about that time.

Bendo

MattMattMattUK said:

maisie_cat said:

So far we've received nothing from the EPG so forgive me if I think that ML is only interested in his profile or limiting the cost of heating his pool.

Have you been on a fix that is less than the EPG rates, or are you off grid?

Avro going bust probably helped a lot of people as they would have been able to jump to long term fixes that were cheap at the time,  e.g.

Electricity 2 Year Fix and Reward v18 Direct Debit version  Fixed term ends 05/10/2023 21.13p/kWh23.50p/day  (All rates inc. VAT)

Gas 2 Year Fix and Reward v18 Direct Debit version  Fixed term ends 05/10/2023 3.86p/kWh26.12p/day  (All rates inc. VAT)

EssexHebridean

The problem is that it was established originally that the "best" way of giving help that would reach the majority of those needing it was just to do it across the board - so the EBSS and the EPG. If you heat using wood then presumably you can also apply for the alternative fuels payment too - so another £200 incoming there...