Sunak due to announce new financial measures, at 11am today.

Giving it via their energy accounts is the only way to ensure that it is spent on energy. And if it also benefits the energy companies don’t you think it’s also a means of making it more likely that the new tax on profits might be repeated in subsequent years? Fewer objections? Remember also that we want these companies to invest in greener energy. No point in squeezing them till the pips squeak.

Germanshepherdsmum

As I said wwm, it means the money is spent on energy bills. Otherwise some would spend it on other things and freeze next winter.

Rory Stewart would not agree. He belongs to a charity that gives hard cash to the poor, as it is found that they know better than any charity exactly what they need. He recognises that there is a risk that a tiny proportion may fritter it away, but he says it is a minor irritant when compared to the absolute good the poor can achieve with the money they are given.

As I said wwm, it means the money is spent on energy bills. Otherwise some would spend it on other things and freeze next winter.

Germanshepherdsmum

Some people are never satisfied Oldnproud. Moan if they don’t get anything, moan if they do. At least passing the money to the power companies means it’s spent on energy, which is what it’s being given for.

It isn’t a question of that as well you know.

It is a question if tax payers money being deposited in vast quantities into the energy suppliers bank accounts, who have already said that they are awash with money.

They will use that money and increase it on a daily basis by investing in the money markets. They do that anyway, this will just add to their enormous pot of money until it is gradually used up.
At the very least these I’ll gotten gains should be ploughed back into a pot for those who can least afford it.

How and when these payments will be made:

Energy payment:
The discount will be made automatically by your energy supplier. There is no need to apply.

Over the course of six months from October, direct debit and credit customers will have the money credited to their account. Customers with pre-payment meters will have the money applied to their meter or paid via a voucher.

The £650 means tested payment:
A £650 payment will be made to more than eight million low-income households who receive Universal Credit, tax credits, pension credit and other means-tested benefits.

This will be an automatic payment into bank accounts.
It comes in two instalments - the first in July and the second sometime in autumn. Payments for those on tax credits only will follow shortly afterwards.

Disability payment:
Those on disability benefits will receive £150 in September, which may be on top of the £650 payment, because in many cases they have higher energy use.

Anyone receiving the following benefits will be entitled to the extra £150: Disability Living Allowance, Personal Independence Payment, Attendance Allowance, Scottish Disability Benefits, Armed Forces Independence Payment, Constant Attendance Allowance and War Pension Mobility Supplement.

Pensioner Extra Fuel payment:
Households that receive the Winter Fuel Payment - which is worth £200-£300 and is paid to nearly all homes with at least one person of pension age - will receive an additional £300 in November or December.

That should cover nearly all pensioners across the UK.

Lower-income pensioners, who claim pension credit, will receive the money in addition to the £650 support for those on benefits which is mentioned above."

It's her username.

Your comment "I'm afraid your first paragraph is just a paean to the Tory party Saetana"

I acknowledged paean as meaning praise but said I didn't know what Saetana meant, have you spelt it correctly or did you add the word by mistake?

Germanshepherdsmum

Some people are never satisfied Oldnproud. Moan if they don’t get anything, moan if they do. At least passing the money to the power companies means it’s spent on energy, which is what it’s being given for.

Ah well GSM we are all getting benefits now. They have to be as suspicious of you as you seem to want them to be of those needing benefits before the price rises.

I dread to think what you might get up to with your benefit What was it that was suggested the other day - drugs and drink? They are certainly not exclusive to the poor.

Oldnproud

Whitewavemark2

So my account will be showing a £400 credit, but the actual money will be squirrelled away to be invested on a daily basis by the energy suppliers.

They are going to make ridiculous amounts from our money.

Maybe it will be possible to ask the energy company to refund your 'excess credit', just like I believe you can now if you have over a month's worth of credit - supposedly, anyway, though with some companies I've heard it's like trying to get blood out of a stone.

Though if people start to do that, and the Government realises, they might quickly change the rules ...

You can't currently get any credit back unless it is above the Warm Home Discount amount, if you receive it. At least not until the following summer. Some companies will wait until the end of that year (August). I imagine this will be the same.

You could reduce your Direct Debit amount as far as they will allow, putting it back up if/when you use all the government credit. If your company lets you do this, it will help those who use oil and therefore will only be able to use the £400 for electricity.

Some people are never satisfied Oldnproud. Moan if they don’t get anything, moan if they do. At least passing the money to the power companies means it’s spent on energy, which is what it’s being given for.

We're all getting about £67 a month off our electric bill for six months, starting October. If your bill usually less than £67 a month, I think that means you will pay nothing for 6 months. At the end of the 6 months you'll get a credit for the balance of the £400 that you haven't been given yet.

I think.

Whitewavemark2

So my account will be showing a £400 credit, but the actual money will be squirrelled away to be invested on a daily basis by the energy suppliers.

They are going to make ridiculous amounts from our money.

Maybe it will be possible to ask the energy company to refund your 'excess credit', just like I believe you can now if you have over a month's worth of credit - supposedly, anyway, though with some companies I've heard it's like trying to get blood out of a stone.

Though if people start to do that, and the Government realises, they might quickly change the rules ...

Ovo.

I'm very happy with them.

Ask me if I'm still happy in the summer when my fixed rate ends.

volver

I'm now wondering about that WWM2. For each of us its a real £400, so it must be going somewhere....

I get 5% on my credit balance on my fuel bills. Better than I'd get in the bank.

I get bugger all on my credit.

Who are you with? My Pure Planet went bust so I was stuck with Shell.

I'm now wondering about that WWM2. For each of us its a real £400, so it must be going somewhere....

I get 5% on my credit balance on my fuel bills. Better than I'd get in the bank.

So my account will be showing a £400 credit, but the actual money will be squirrelled away to be invested on a daily basis by the energy suppliers.

They are going to make ridiculous amounts from our money.

Whitewavemark2 from what I’ve read it will be credited to energy accounts and customers with a pre payment meter will receive a voucher.

www.bbc.co.uk/news/business-61592496

Is the £400 we are all getting (some a lot more if they have more than one house) going to be paid direct to the energy suppliers?

I am currently in credit, and resent very much my money being held by this vastly wealthy entity who will gain vastly from using all the £400s to play the money market on a daily basis and make even more from my money!

PS
I think I’m correct in saying that anyone who hadn’t already applied for pension credit prior to Rishi Sunak’s announcement will not receive the £600 even if their application is successful . However, it will be paid to any pending applications if they meet the criteria.

mollie11158
I'm really interested in the pensioners who are only receiving approx £800 per month state pension as thought there was a minimum figure and then you can get help, eg "Pension Credit

The new state pension rate is £740.60 a month mollie11158. Anyone who is in receipt of the full state pension does not qualify for pension credit. Pension credit is to top up any shortfall in state pension to the full amount. It’s certainly worthwhile applying if there is a shortfall in pension as even a couple of pounds of pension credit entitles the claimant to other benefits such as dental treatment, glasses, council tax rebate etc. They will also receive the £600 payment. But pensioners who don’t have pension credit will not receive the £600.

From what I've read...the money has to be applied for...so anyone who doesn't want/need it...dont apply for it..

A one off payment is not the right way, they should cap the fuel rises like France have done (4%) . The less well off will have absorbed this money well before winter accounts come in.

I expect itll be added to the winter fuel payment which is not means tested to ascertain those in real need.

Years ago the Labour Party in my area always worked very well with the LibDems. I found the Conservatives and LibDems very strange bedfellows. I do hope for a Labour/LibDem coalition of some kind especially as I have close links with both parties in my area.

I was shocked to read Sunak is giving his £400 to the poorer community. I didn't realise he was gifting to millionaires too.

I've had to read that twice but I think I've got it now.

paean: a song, film, or piece of writing that praises someone or something very enthusiastically.

dictionary.cambridge.org/dictionary/english/paean

I don't have to try to be clever, it just comes naturally.