Ofgem to increase Winter Price Cap to cover cost of people not paying their bills.

ScoobyZ

Ofgem has acknowledged it is planning to increase the price cap this winter to help cover the potential increase in debt costs owed to energy companies as a result of government interventions including the partial ban on PPMs.

An energy industry source told i there was a “glaring hole” in Ofgem’s policy because it fails to address what happens to the debt owed by struggling customers.

“This is the thing that people are being awfully quiet about,” the source said. “This is not a well thought out policy. It is a hidden tax. People who pay their bills will be covering the cost of people who don’t.

“The Government aren’t increasing benefits or pensions. The problem is there is a whole class of people who can’t afford the cost of living

“The reality is Ofgem will have to increase the price cap.”

Link to Article Dated April 19, 2023 6:00 am(Updated 8:11 am) Below:

https://inews.co.uk/news/consumer/prepayment-meter-ban-energy-firms-struggling-customers-cars-tv-2281747

bristolleedsfan

This is the full article without headline changed or selected parts of the article picked out.

https://www.msn.com/en-gb/money/other/prepayment-meter-ban-could-see-energy-firms-go-after-struggling-customers-cars-and-tvs/ar-AA1a2gwC

bristolleedsfan

https://www.ofgem.gov.uk/publications/price-cap-call-input-allowance-debt-related-costs

ScoobyZ

bristolleedsfan said:

This is the full article without headline changed or selected parts of the article picked out.

https://www.msn.com/en-gb/money/other/prepayment-meter-ban-could-see-energy-firms-go-after-struggling-customers-cars-and-tvs/ar-AA1a2gwC

I did put the link in aswell, which is the same as what you posted, so I am unsure why you needed to post this aswell.

bristolleedsfan

ScoobyZ said:

bristolleedsfan said:

This is the full article without headline changed or selected parts of the article picked out.

https://www.msn.com/en-gb/money/other/prepayment-meter-ban-could-see-energy-firms-go-after-struggling-customers-cars-and-tvs/ar-AA1a2gwC

I did put the link in aswell, which is the same as what you posted, so I am unsure why you needed to post this aswell.

Link you posted article is behind paywall sometimes. it was first time I clicked link and since then, ok on one click through.

ScoobyZ

bristolleedsfan said:

ScoobyZ said:

bristolleedsfan said:

This is the full article without headline changed or selected parts of the article picked out.

https://www.msn.com/en-gb/money/other/prepayment-meter-ban-could-see-energy-firms-go-after-struggling-customers-cars-and-tvs/ar-AA1a2gwC

I did put the link in aswell, which is the same as what you posted, so I am unsure why you needed to post this aswell.

Link you posted article is behind paywall sometimes.

Weird I can see it all and haven't paid.

MattMattMattUK

Anything that stops suppliers recovering unpaid debts is going to hit the rest of us, something which many seem to forget/ignore.

bristolleedsfan

ScoobyZ said:

bristolleedsfan said:

ScoobyZ said:

bristolleedsfan said:

This is the full article without headline changed or selected parts of the article picked out.

https://www.msn.com/en-gb/money/other/prepayment-meter-ban-could-see-energy-firms-go-after-struggling-customers-cars-and-tvs/ar-AA1a2gwC

I did put the link in aswell, which is the same as what you posted, so I am unsure why you needed to post this aswell.

Link you posted article is behind paywall sometimes.

Weird I can see it all and haven't paid.

Now link is loading fine, I would not have googled the title and posted alternative link if I was able to read article in full when I first loaded it

mmmmikey

MattMattMattUK said:

Anything that stops suppliers recovering unpaid debts is going to hit the rest of us, something which many seem to forget/ignore.

Yes indeed - what's the betting that the same media outlets that have been critical of energy companies taking steps through the court as a last resort to pay debts will also be critical of Ofgem for putting up prices to reflect the cost of this?

powerful_Rogue

Didn't the pension and benefits get a 10% uplift this month? Far more then most people in employment.

Also, it's to be expected. We pay higher bills in shops to account for the shoplifting/security.

born_again

So we are going to see some that are not "Can't" pay & more "Won't" pay....

End of the day, this is like everything else. We all pay for shoplifting etc, as it's just built in to retailer costs.

While I do not agree with forced entry to fit pre paid meters, something needs to be done. But it should not be protecting the companies. It should be helping the people in need, & punishing the ones that are simply playing the system & not paying as they know  they can get away with it.