Now that Truss has announced her plan our electricity will be going up to 93 on that scale in October (28p to 40p). Would have been 120 (52p) otherwise. And that’s with us having the advantage of domestically producing over half our own gas. Unfortunately we’re paying the same full price for that gas as the imported gas and are mortgaging our future to fund Truss’s plan. Meanwhile Shell, BP and all the other gas producers in the North Sea will continue to announce record profits and will be allowed to keep every extra penny which is estimated to be around £160bn over the next couple of years.
Fortunately I’ve got some shares in some of those companies but the benefit to me is a drop in the ocean compared to the increased costs.