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^Next week Ofgem will announce the energy price cap rise^.

(91 Posts)
DaisyAnne Sun 21-Aug-22 08:21:36

This situation is unsustainable for thousands of families across Britain and neither of the Tory leadership candidates are taking it seriously.

The Government should bring back Parliament early to freeze energy bills.

Forestflame Sun 21-Aug-22 08:30:06

I'm dreading it

Whitewavemark2 Sun 21-Aug-22 09:03:55

Sunday Telegraph saying it will rise to £6000 in April next year.

Shinamae Sun 21-Aug-22 09:06:21

Whitewavemark2

Sunday Telegraph saying it will rise to £6000 in April next year.

“They” can say what they want, I will not be paying any more than what I can actually afford and will bear whatever consequences this brings to my door… I think if you do pay what you can AFFORD that they cannot come down on you too heavily but time will tell…

JenniferEccles Sun 21-Aug-22 09:12:05

Of course they are taking it seriously but nothing can be done until the new PM is in no. 10.
Financial help has already been announced, the situation is being monitored with the assurance that more help will be forthcoming.
We just have to be patient. It’s still summer.

Zonne Sun 21-Aug-22 09:32:41

JenniferEccles

Of course they are taking it seriously but nothing can be done until the new PM is in no. 10.
Financial help has already been announced, the situation is being monitored with the assurance that more help will be forthcoming.
We just have to be patient. It’s still summer.

That is just not true. We do have a government and a prime minister now, with the same powers they’ve always had, and they could take action if they chose to. That they don’t just proves how incompetent and despicable they are.

volver Sun 21-Aug-22 09:36:54

Good post Zonne.

Jane43 Sun 21-Aug-22 09:40:14

We also have a Deputy Prime Minister whose job has always been to take on the Prime Minister’s duties in his or her absence. Dominic Raab has been invisible for months. The only thing this government is good at is procrastination.

LizzieDrip Sun 21-Aug-22 09:48:55

I’m with you Shinamae. I pay direct debit and have amassed considerable credit over the summer, obviously with lower usage and cutting down. My British Gas account keeps telling me that I need to pay more or I’ll be in debit at the end of my plan. We’ll see. I’ll pay what I can afford and deal with any consequences as / when they arise. I am not a money lender for British Gas!

Lathyrus Sun 21-Aug-22 09:54:20

If we have an energy cap then we have a mechanism to hold down prices.

I don’t understand why we allow prices to be increased when energy companies are making such vast profits. Why don’t we tell them that they will have to be satisfied with less.

This isn’t a political sort of statement. It’s genuine puzzlement as to why the energy cap isn’t/can’t be put into action.

If anyone understands how it works I’d be grateful for a rational explanation.?

Casdon Sun 21-Aug-22 09:55:42

JenniferEccles

Of course they are taking it seriously but nothing can be done until the new PM is in no. 10.
Financial help has already been announced, the situation is being monitored with the assurance that more help will be forthcoming.
We just have to be patient. It’s still summer.

In the meantime foodbanks are now making up food parcels which only contain food that doesn’t need cooking because people are frantic with worry about how they will manage and daren’t put their cookers on. It’s okay though, Boris deserves another holiday, poor mite.

Whitewavemark2 Sun 21-Aug-22 10:05:07

JenniferEccles

Of course they are taking it seriously but nothing can be done until the new PM is in no. 10.
Financial help has already been announced, the situation is being monitored with the assurance that more help will be forthcoming.
We just have to be patient. It’s still summer.

The likely next prime minister will be Liz Truss.

I am entirely unclear how her much advertised tax cuts will do anything except raise inflation even further, and do nothing for those on middle to lower income.

Her much vaunted “ there will be no handouts” has apparently put the lid on any help for those struggling.

RichmondPark1 Sun 21-Aug-22 10:35:24

Lathyrus asks a question that nobody in government is answering.

Why don't they just put a cap on prices?

LizzieDrip Sun 21-Aug-22 10:36:54

All I can see is a very bleak winter ahead for those on low incomes AND the squeezed middle. I find Liz Truss’s use of the term ‘handouts’ extremely offensive.

Callistemon21 Sun 21-Aug-22 10:38:21

I don’t understand why

I don'tt understand why either

henetha Sun 21-Aug-22 10:43:07

I, and many others, are already in what they call "Fuel poverty* (more than ten percent of income going on fuel).
How much more can we take?
I find Liz Truss' plans very disturbing. It will do nothing for the really poor. At least Rishi Sunak seems to have a better understanding of what it's like, even if he hasn't ever experienced it.

MaizieD Sun 21-Aug-22 10:46:09

RichmondPark1

Lathyrus asks a question that nobody in government is answering.

Why don't they just put a cap on prices?

As I understand it there is a cap on prices. That is what is periodically announced

It is only for domestic users, though. No cap for anyone else.

That means hospitals, schools, care homes, your little local businesses, pub, restaurants, every single blessed thing that isn't a domestic user will be having much bigger price increases. Which means lots of businesses going bust.

Goodness knows what will happen to hospitals and schools if the government doesn't give them any help...

Zonne Sun 21-Aug-22 10:47:39

Thank you, Volver.

Re the cap question: as far as I understand it, Ofgem are setting the cap at a level that will prevent more companies going bankrupt. The argument is that, in the long run, this would force prices even higher.

JaneJudge Sun 21-Aug-22 10:52:39

I imagine they are all nicely cooking on beaches somewhere hot and not giving a shiny angry

LizzieDrip Sun 21-Aug-22 10:57:16

^I don’t understand why

I don'tt understand why either^

I don’t really understand but here’s my take on it. A Conservative gov will not ‘interfere’ with private industry. The energy companies are making huge profits for their shareholders - happy shareholders; happy Tories. Who gives a sh** about the consumer. We are a ‘captive audience’. We can’t say OK, I won’t buy your overpriced electricity -because we can’t do without it. Energy companies & gov know this. The so-called ‘price cap’ put out by the (discredited) ‘regulator’ Ofgem appears to be skewed in favour of the energy companies NOT the customer. Ofgem says it needs to keep the price cap rising to prevent energy companies going bust. Surely the energy companies could do this themselves by accepting lower profits during an energy crisis! Back to my original point - keep the rich shareholders happy. Round and round we goangry

RichmondPark1 Sun 21-Aug-22 11:09:52

Thanks *MaizieD for the information.

So perhaps the question should be - Why don't they lower the cap for all users?

We live in an isolated town. Our only pub landlord has decided to close for the winter once the summer season is over as he can't afford the energy bills. This hub of our community is a lifeline to the elderly and lonely in winter. If something isn't done to help businesses this is going to bring many small businesses, some essential in their areas, to ruin.

MaizieD Sun 21-Aug-22 11:11:29

Zonne

Thank you, Volver.

Re the cap question: as far as I understand it, Ofgem are setting the cap at a level that will prevent more companies going bankrupt. The argument is that, in the long run, this would force prices even higher.

I don't think that the 'cap' applies to anyone apart from domestic consumers.

Off to check it out now...

MaizieD Sun 21-Aug-22 11:14:59

This, from earlier this year:

Whilst this is good news (in part) for residential customers, the same cannot be said for businesses.

The energy price cap is a tool used by Ofgem to protect the consumer, not businesses. Energy Suppliers are now passing on their costs to businesses by increasing their business gas and business electricity costs. Some businesses have received quotes exceeding a staggering 70p/kWh, making operations extremely challenging.

businessenergyclaims.co.uk/does-the-energy-price-cap-apply-to-businesses/

Grantanow Sun 21-Aug-22 11:16:51

Don't worry! That nice Mr Rees-Mogg is working hard to find a Brexit opportunity to solve the problem of extortionate energy bills. He's multi-skilled, of course, and able to slag off civil servants and idle workers all at the same time.

Grayling Sun 21-Aug-22 11:25:37

This will probably be my last post as it will prove what kind of a dimwit I am!! Why is the electricity so high? Russia doesn't supply us with that!!