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

MattMattMattUK

maisie_cat said:

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.

I think the fact that the EPG did not have a cap on discounted rates was wrong, every other country which introduced similar measures has cap above which market rates were charged, but beyond that any means testing would have overly complicated the system and the people denied a means tested EPG would be the ones paying for it anyway, so it would have seemed a little churlish to means test it, it would also not have had the same benefit in terms of reducing inflation if it only applied to half the population (which it reduced by 4-6% off the headline rate).

diystarter7

MattMattMattUK said:

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'

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

Hi

I'm confused by your statement,  Who does not win and why?

IMO, it is the best situation out of a bad situation and the most cost-effective one

Thnaks

diystarter7

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 

Hi

Martin did lead a campaign as did other media outlets and charities etc lead their own campaigns. Without their efforts, there is always a possibility it may not have happened or to a lesser extent.

All governments got away with a lot more before the advent of the accessibility to the worldwide net where people communicate with like minded people and get governments to change their minds in favour of the ordinary people, IMO/

Thnaks

SnakePlissken

diystarter7 said:

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 

Hi

Martin did lead a campaign as did other media outlets and charities etc lead their own campaigns. Without their efforts, there is always a possibility it may not have happened or to a lesser extent.

All governments got away with a lot more before the advent of the accessibility to the worldwide net where people communicate with like minded people and get governments to change their minds in favour of the ordinary people, IMO/

Thnaks

And in budget Hunt mentioned Martins campaign, so i would say it did influence Hunts decision. (Otherwise why mention Martin?)

Mstty

SnakePlissken said:

diystarter7 said:

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 

Hi

Martin did lead a campaign as did other media outlets and charities etc lead their own campaigns. Without their efforts, there is always a possibility it may not have happened or to a lesser extent.

All governments got away with a lot more before the advent of the accessibility to the worldwide net where people communicate with like minded people and get governments to change their minds in favour of the ordinary people, IMO/

Thnaks

And in budget Hunt mentioned Martins campaign, so i would say it did influence Hunts decision. (Otherwise why mention Martin?)

Aligning yourself as chancellor to the people's alleged money matters champion

..no idea why he would mention this on his national TV moment. 

SnakePlissken

Mstty sMstty said:

SnakePlissken said:

diystarter7 said:

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 

Hi

Martin did lead a campaign as did other media outlets and charities etc lead their own campaigns. Without their efforts, there is always a possibility it may not have happened or to a lesser extent.

All governments got away with a lot more before the advent of the accessibility to the worldwide net where people communicate with like minded people and get governments to change their minds in favour of the ordinary people, IMO/

Thnaks

And in budget Hunt mentioned Martins campaign, so i would say it did influence Hunts decision. (Otherwise why mention Martin?)

Aligning yourself as chancellor to the people's alleged money matters champion

..no idea why he would mention this on his national TV moment. 

SnakePlissken said:

diystarter7 said:

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 

Hi

Martin did lead a campaign as did other media outlets and charities etc lead their own campaigns. Without their efforts, there is always a possibility it may not have happened or to a lesser extent.

All governments got away with a lot more before the advent of the accessibility to the worldwide net where people communicate with like minded people and get governments to change their minds in favour of the ordinary people, IMO/

Thnaks

And in budget Hunt mentioned Martins campaign, so i would say it did influence Hunts decision. (Otherwise why mention Martin?)

Aligning yourself as chancellor to the people's alleged money matters champion

..no idea why he would mention this on his national TV moment. 

Mstty said:

SnakePlissken said:

diystarter7 said:

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 

Hi

Martin did lead a campaign as did other media outlets and charities etc lead their own campaigns. Without their efforts, there is always a possibility it may not have happened or to a lesser extent.

All governments got away with a lot more before the advent of the accessibility to the worldwide net where people communicate with like minded people and get governments to change their minds in favour of the ordinary people, IMO/

Thnaks

And in budget Hunt mentioned Martins campaign, so i would say it did influence Hunts decision. (Otherwise why mention Martin?)

Aligning yourself as chancellor to the people's alleged money matters champion

..no idea why he would mention this on his national TV moment. 

Or acknowleding that he was influenced by Martins campaign.

As neither of us were party to discussions between Martin and Hunt, we will never know.

diystarter7

SnakePlissken said:

diystarter7 said:

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 

Hi

Martin did lead a campaign as did other media outlets and charities etc lead their own campaigns. Without their efforts, there is always a possibility it may not have happened or to a lesser extent.

All governments got away with a lot more before the advent of the accessibility to the worldwide net where people communicate with like minded people and get governments to change their minds in favour of the ordinary people, IMO/

Thnaks

And in budget Hunt mentioned Martins campaign, so i would say it did influence Hunts decision. (Otherwise why mention Martin?)

Hi
I never watched it but thanks for the heads up. Therefore, I will revise my statement about this and full credit to Martin Lewis and team

I guess Jeremy was trying to relay the compassion of his government being in touch with the ordinary man, woman and child in the UK.

As I said before, the cap on the rates and standing charges is better than nothing and going to everyone, rightly so as it is the most cost-effective method of distribution of our money.

Thanks

superkoopauk

bristolleedsfan said:

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.

Agreed - they should of switched back then but that probably wont soften the blow!

diystarter7

superkoopauk said:

bristolleedsfan said:

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.

Agreed - they should of switched back then but that probably wont soften the blow!

Hi

What the government must do is put a stop to the profiteering by the big boys. The government should also speed up nuclear power rather than just talk about it as this would make supplies a lot cheaper.

Longer term the gov should give grants to everyone with a property to properly insulate their homes.

Thnaks

Section62

diystarter7 said:

What the government must do is put a stop to the profiteering by the big boys.

Which "profiteering by the big boys" did you have in mind?  Who are these "big boys", the suppliers or the producers? Have you heard of the Energy Profits Levy?

diystarter7 said:

The government should also speed up nuclear power rather than just talk about it as this would make supplies a lot cheaper.

How would you speed up construction of the £32.7Bn Hinkley Point C (site licence granted 2012, estimated completion=2028) and the £35Bn+ Sizewell C (site licence applied for, completion=who knows?) ?

I support nuclear power as part of our energy generation mix, but I struggle to see how ~£70Bn for two power stations will "make supplies a lot cheaper". SMRs may help, but again, how would you speed these up?

We have to get used to the idea that a 'clean' and secure supply of energy will cost us more than we were used to back in the days when the environmental impacts of energy weren't considered to be a problem.