Gas & Electricity

[M18CTID]

Hopefully that means food costs will also come down ?

That's the theory. According to one economist, it should help bring inflation back down to 2% in the second half of next year. I guess we'll have to wait and see whether that proves to be the case

 

[BerkshireBlue]

Looking like a price freeze and crucially one that is closer to the current cap (the £400 rebate should bring it down close to that) and not the higher cap that is due to come in on October 1st. Plus help for businesses too. Not confirmed yet and it could run into next week when it's announced but I think we can say with some confidence that whatever the final details are then significant help is coming so Armageddon should be averted......well for now at least!

Liz Truss expected to freeze energy bills in tax-funded scheme

Addition of £400 discount would effectively keep price cap at current rate of £1,971

www.theguardian.com

It's just a delaying tactic unfortunately and one that means we'll be paying a lot of cash for a lot longer period of time. A gamble that prices will be cheaper in the next few years. What happens if it isn't should be the question, is the debt written off? do we have to pay double the price for years to come? this only seems to protect the utility companies rather than the consumers and that's why the directors of these companies all want this in. I'd prefer to protect the consumers first then the utility companies. If I had the option I'd want to pay for what I use straight away not on credit that I can't see or control

 

[BerkshireBlue]

Ok, just been looking on my provider's website (EDF)...I didn't realise until now that Economy 7 doesn't apply to gas...only electricity. So that answers half of my question. But I'm still not clear as to whether it is cheaper to leave the water heating on 24/7 or to switch on and off as required? Apologies for being a bit dim.

on and off as required is the answer by a considerable amount

 

[bobmcfc]

That's the theory. According to one economist, it should help bring inflation back down to 2% in the second half of next year. I guess we'll have to wait and see whether that proves to be the case

I heard that the supermarket retailer Iceland expected their energy bill alone to increase by at least £20m if nothing is done and they are mostly smallish stores. That all gets passed onto the customer.

 

[Alan Harper's Tash]

155.7 at Chaddy Costco Saturday morning as I was filling up.

154.9 at Texaco near Derker tram stop.

Good that they seem to be trending downwards still.

 

[DenisLawBackHeel74]

I heard that the supermarket retailer Iceland expected their energy bill alone to increase by at least £20m if nothing is done and they are mostly smallish stores. That all gets passed onto the customer.

Correct. Which subsequently adds to the level of inflation.

 

[blue b4 the moon]

154.9 at Texaco near Derker tram stop.

Good that they seem to be trending downwards still.

Been paying 167/169 where I live now but took the opportunity to bob into Costco while passing early Saturday.

 

[Fred_Quimby]

It's just a delaying tactic unfortunately and one that means we'll be paying a lot of cash for a lot longer period of time. A gamble that prices will be cheaper in the next few years. What happens if it isn't should be the question, is the debt written off? do we have to pay double the price for years to come? this only seems to protect the utility companies rather than the consumers and that's why the directors of these companies all want this in. I'd prefer to protect the consumers first then the utility companies. If I had the option I'd want to pay for what I use straight away not on credit that I can't see or control

This is exactly what will happen. The Tories will look after
a) the fuel companies who are raking in the money from higher gas prices and
b) the enegy companies who will ensure their profits are guaranteed for many years to come.

Have no fear we will be paying for this for years to come.

 

[Big mals fedora]

In Spain the vat on electricity and now gas has been lowered to 5 percent presumably because tax revenue on a much larger amount is frankly exaggerating an already massive problem.
Hlow can any Government be so greedy as to not tailor its ttax system to compensate for the increased revenue it will accumulate.

Yeh, same as petrol and diesel, they are creaming off billions more in tax but think they’re doing us a massive favour by dropping the tax on a litre by 5p a while ago

 

[Alan Harper's Tash]

We need to build tidal power stations and tons more wind turbines to create our own power and negating the need for foreign gas.

 

[55yr old teenager]

How do they collate that information?

Probably naive of me but wouldn't HMRC have all the info on how much people earn? They also have everyone's address.

 

[BerkshireBlue]

Yeh, same as petrol and diesel, they are creaming off billions more in tax but think they’re doing us a massive favour by dropping the tax on a litre by 5p a while ago

all adds to GDP and they need that to look like we have a strong economy when in reality we've been in a recession for a long time. I competely agree, the tax % should be variable depending on the total earned hit a ceratin limit and it can't go any higher

 

[Alan Harper's Tash]

Probably naive of me but wouldn't HMRC have all the info on how much people earn? They also have everyone's address.

They will (as far as everyone has been truthful), but it would still cost a ton of money to means test.

Its the major reason why all people over a certain age get the winter fuel allowance. It costs less to pay them all than it would to means test and pay fewer people.

 

[AlgarveBlu]

We need to build tidal power stations and tons more wind turbines to create our own power and negating the need for foreign gas.

I’ve never understood why the UK hasn’t ever gone down this route as it has the highest tidal range in all of Europe - I’d read that is has the potential to supply up to 12% of the uks energy needs and yet as far as I am aware there are none.

The wave farms that have been setting up off the coast of Portugal have been commercially successful

 

[Alan Harper's Tash]

I’ve never understood why the UK hasn’t ever gone down this route as it has the highest tidal range in all of Europe - I’d read that is has the potential to supply up to 12% of the uks energy needs and yet as far as I am aware there are none.

The wave farms that have been setting up off the coast of Portugal have been commercially successful

Probably, like everything in this country, the upfront cost.

Our governments don’t invest in things like that. It’s only things like shite PPE and shipping companies with no ships.

The French and Chinese were paying for a new nuclear plant until recently, weren't they?

We really do need to change our approach as to how we spend our tax money.

 

[KearsleyBlue]

154.9 at Texaco near Derker tram stop.

Good that they seem to be trending downwards still.

I used to drive to London in the evenings after finishing work in the Trafford centre a few years back. I remember baulking at paying 124 at TC's petrol station when it was 110 if I drove into Eccles

 

[cptaidan88]

The company I work for has a fixed deal which runs out in a few months.

Current standing charge 35p a day
Current kWh charge 16p

Proposed standing charge £20 a day (£7,300 a year without using any energy)
Proposed kWh charge £1.05

A lot of businesses are going to go to the wall in this.

 

[Stoned Rose]

Don’t have much choice if you’re on a pre payment meter.

Lube up.

 

[andyhinch]

Lube up.

Can’t afford the lube :-)

 

[remember arthur mann]

Can’t afford the lube :-)