The huge increase in the price of energy

What is happening in the U.K. is a political choice.

Hollyhock1

Whitewavemark2

?

Russ Jones
@RussInCheshire
10m Britons have savings of less than £100.

The poorest 25% of households have average savings of just £2000 (scraped together over entire lifetimes).

And we're supposed to suddenly find £4000 a year for fuel?

I doubt many politicians have yet grasped what's about to happen.

If that's true, we are indeed poor! The working poor. We don't feel poor though, we pay our bills/debts, get no benefits, paid our mortgage off. We have no savings though but we live ok.

You’ll be cold and hungry though this winter if that is the case Hollyhock1, unless you have luxuries you can cut out. It’s the people who are just getting by who will be tipped into poverty, joining the millions who aren’t getting by comfortably now. It’s very frightening I think.

maddyone

BJ has been deposed and is simply caretaking until a new leader is chosen. Perhaps the Conservatives need to look at their method of choosing a leader in the futures and shorten the process.

'Caretaking' is such an ironic word when used in conjunction with Johnson . He's not taking any care at all. Never has done.

His actual refusal to do anything about the looming disaster for a very large section of the populace has me utterly lost for a word expressive enough to apply to him. Welsh vegetables lose their descriptive power when it comes to Johnson...

If he didn't want to exercise the responsibilities of a PM he should not have insisted on staying. But, of course, we all know what he is staying for, don't we?

Whitewavemark2

?

Russ Jones
@RussInCheshire
10m Britons have savings of less than £100.

The poorest 25% of households have average savings of just £2000 (scraped together over entire lifetimes).

And we're supposed to suddenly find £4000 a year for fuel?

I doubt many politicians have yet grasped what's about to happen.

If that's true, we are indeed poor! The working poor. We don't feel poor though, we pay our bills/debts, get no benefits, paid our mortgage off. We have no savings though but we live ok.

Martin Lewis

@MartinSLewis
·
32m
Tragic news

The latest
@CornwallInsight
prediction, based on Ofgem's new methodology, is an 81% price cap rise in Oct (taking typical bill to £3,582/yr) and a further 19% in Jan (so £4,266/yr)

Action & planning is needed now. The zombie govt needs wake up sooner than 5 Sept...

Scotland produces more green energy than in needs and the surplus is transported via the Grid down to England. BUT the way the grid works it appears that all Scotland's energy is transported to London and then has to be sent back up to Scotland. Thus we Scots pay more for the fuel - produced on our doorsteps - than householders in the south of England. It's Madness.

?

Whitewavemark2

maddyone

Why do you think Brexit has caused inflation?

Supply issues

Vast increase in costs

Just to start.

And the very low value of Sterling, which makes importing energy much more expensive.

?

Russ Jones
@RussInCheshire
10m Britons have savings of less than £100.

The poorest 25% of households have average savings of just £2000 (scraped together over entire lifetimes).

And we're supposed to suddenly find £4000 a year for fuel?

I doubt many politicians have yet grasped what's about to happen.

maddyone

Why do you think Brexit has caused inflation?

Supply issues

Vast increase in costs

Just to start.

Why do you think Brexit has caused inflation?

Can you imagine the CEO of any major company being 'deposed' and Management saying 'ah well, holiday time- we will wait a couple of months'.

The Tories have had months to address the issues.

Our inflation stands at up to 13%, whereas in Europe it averages 5%.

The difference?

Brexit

BJ has been deposed and is simply caretaking until a new leader is chosen. Perhaps the Conservatives need to look at their method of choosing a leader in the futures and shorten the process.

Good post.WW2.

It just shows how interested Johnson and the rest of the cabinet are in this country.

It shows what a shambles we are facing with this government of utter mediocrity.

France

Inflation - a little over 5%.

Energy price rise for 2022 - about 5%

The French government are sitting despite the French holiday period, in order to deal with the “crises”

They are deciding the energy price rise for 2023, amongst other things.

Stability and certainty, plus heaving food stocks of a very wide variety.

It's certainly an interesting idea, and I will be interested to see how for/against it economists are, once they have considered all the implications.

Creative ideas are certainly needed, and quickly.
When people are faced with Septembers huge energy bill rises, many, even the relatively well-off , are likely to tighten their belts.
The knock-on effect of the belt-tightening on businesses that still haven't recovered from covid lockdowns and post-pandemic/Brexit staffing problems doesn't bear thinking about. The domino-effect will well and truly begin (if it hasnt already), and goodness only knows where it will end.

There is a possibility that we can’t count on Norway for our electricity.

www.theguardian.com/money/2022/aug/08/uk-braces-for-even-higher-bills-as-norway-threatens-electricity-export-cut

It’s worrying. At least we only get 4% of energy from Russia. unlike Germany.
Went food shopping yesterday, kept putting things back due to mad increases. Then I told myself off, it is what it is, just got to pay it or not eat. So I guess most people would choose food over warmth this winter.

We've got it here, too. I never realised how much influence Russia and the Ukraine had on prices. Makes the world seem smaller, somehow.

Meanwhile my friend in France tells me it has been locked at 4%!