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-   -   UK Energy Prices (https://www.cableforum.uk/board/showthread.php?t=33710394)

TheDaddy 13-01-2022 18:33
Re: Energy companies collapse
 
Quote:
Originally Posted by Chris (Post 36109288)
It does. You do have to submit yourself to the annual inconvenience of submitting a self-assessment tax return but it’s worth it. You can claim tax relief on a number of home office expenses (unless your employer is paying those expenses to you of course). You can also claim for wear and tear and additional insurance costs. My taxable income was reduced by just under £1,000 last year by this means.
You can probably do that for PAYE to, I do for other things most years but haven't bothered for the last couple, saving them up!

My father in law got his electric and gas bill for the last 18 months today, £10 000 :shocked: goodness knows what it'll be in the next eighteen months and it certainly puts my up to 20 quid a month rise in to perspective :(

peanut 13-01-2022 18:38
Re: Energy companies collapse
 
Quote:
Originally Posted by TheDaddy (Post 36109291)
You can probably do that for PAYE to, I do for other things most years but haven't bothered for the last couple, saving them up!

My father in law got his electric and gas bill for the last 18 months today, £10 000 :shocked: goodness knows what it'll be in the next eighteen months and it certainly puts my up to 20 quid a month rise in to perspective :(
It must cost quite a lot to heat that indoor swimming pool. :confused::shocked:

Chris 13-01-2022 18:39
Re: Energy companies collapse
 
How the heck can his bills be that high? Is he heating an open-air swimming pool? :Yikes:

TheDaddy 13-01-2022 19:26
Re: Energy companies collapse
 
Quote:
Originally Posted by Chris (Post 36109293)
How the heck can his bills be that high? Is he heating an open-air swimming pool? :Yikes:
It's £550 odd a month by my reckoning, they do use a lot of gas and electric but this is before the rises have really kicked in, father in law is quite blasé about it but I think I'm going to get his daughter on the case, it's her inheritance after all!

Itshim 13-01-2022 19:28
Re: Energy companies collapse
 
Quote:
Originally Posted by Chris (Post 36109288)
It does. You do have to submit yourself to the annual inconvenience of submitting a self-assessment tax return but it’s worth it. You can claim tax relief on a number of home office expenses (unless your employer is paying those expenses to you of course). You can also claim for wear and tear and additional insurance costs. My taxable income was reduced by just under £1,000 last year by this means.
Its what accountants are for. :D

1andrew1 15-01-2022 18:56
Re: Energy companies collapse
 
Quote:
UK homes face fresh energy pain with price cap set to hit £2,400 this year

The calculation by energy consultancy EnAppSys for the Financial Times underlines that the country’s looming cost-of-living crisis is likely to be protracted as wholesale gas prices continue to trade at historically high levels.

The price cap, introduced in 2019 to protect the bills of roughly 15m households who do not opt for fixed-price deals, is already set to rise by more than 50 per cent in April to £2,000 a year from £1,277, based on average usage.

Ofgem, the energy market regulator, sets the level of the cap twice a year with the next change after April’s due in October. Using the latest market pricing, EnAppSys estimates that later this year the cap could hit between £2,300 and £2,400, unless the government and regulator intervene to relieve pressure on consumers.
Google the headline to read the article free, or visit https://www.ft.com/content/d246f8b4-...1-7779acc5efd7

joglynne 18-01-2022 20:11
Re: Energy companies collapse
 
Together Energy Retail has stopped trading, affecting 176,000 households.

Quote:
Together Energy Retail, which has about 176,000 domestic customers, was part-owned by Warrington Borough Council.

The council, which spent £18m on a 50% stake in the firm in 2019, said it was "disappointed" the firm had gone under, but defended its investment decision.

Ofgem said a new supplier would be found for the company's customers and that energy supply would continue.

A total of 28 energy suppliers, mostly smaller firms, have stopped trading in the UK since August, affecting millions of customers.

In a statement on its website, Together Energy said the "sustained increase in wholesale prices and the securities required to continue to forward purchase the energy", made the firm's situation "untenable".
https://www.bbc.co.uk/news/business-60038685

1andrew1 18-01-2022 20:36
Re: Energy companies collapse
 
Quote:
Originally Posted by joglynne (Post 36110150)
Together Energy Retail has stopped trading, affecting 176,000 households.

https://www.bbc.co.uk/news/business-60038685
Sorry for everyone affected, but ridiculous for a council to invest so much money in an energy supplier.

papa smurf 18-01-2022 21:50
Re: Energy companies collapse
 
Quote:
Originally Posted by 1andrew1 (Post 36110161)
Sorry for everyone affected, but ridiculous for a council to invest so much money in an energy supplier.
Our council invested in Icelandic banks and that didn't end well.

1andrew1 18-01-2022 22:08
Re: Energy companies collapse
 
Quote:
Originally Posted by papa smurf (Post 36110177)
Our council invested in Icelandic banks and that didn't end well.
I think that was slightly different as they were on a panel of approved banks for councils to put their cash in. Not a 50% stake in a commercial company.

1andrew1 28-01-2022 09:34
Re: Energy companies collapse
 
Interesting to read how much gas the UK is actually exporting!
https://twitter.com/_richardblack/st...21893277134849

RichardCoulter 28-01-2022 11:07
Re: Energy companies collapse
 
Quote:
Originally Posted by Chris (Post 36109288)
It does. You do have to submit yourself to the annual inconvenience of submitting a self-assessment tax return but it’s worth it. You can claim tax relief on a number of home office expenses (unless your employer is paying those expenses to you of course). You can also claim for wear and tear and additional insurance costs. My taxable income was reduced by just under £1,000 last year by this means.
I'm on Self Assessment anyway due to my business and investment interests, my accountant sorts it all out.

nomadking 28-01-2022 13:12
Re: Energy companies collapse
 
Quote:
Originally Posted by 1andrew1 (Post 36111433)
Interesting to read how much gas the UK is actually exporting!
https://twitter.com/_richardblack/st...21893277134849
So when did the UK run out of gas?
The UK only depends on Russia for 3% of gas, Western Europe relies on 40%. They are the ones with the bigger problem.

Carth 28-01-2022 14:33
Re: Energy companies collapse
 
We haven't 'run out' of gas, but it's sold to those who will pay more than the UK to have it ;)

Hugh 28-01-2022 14:39
Re: Energy companies collapse
 
Quote:
Originally Posted by nomadking (Post 36111464)
So when did the UK run out of gas?
The UK only depends on Russia for 3% of gas, Western Europe relies on 40%. They are the ones with the bigger problem.
Unless, of course, Europe (Norway, Netherlands, & Belgium) decides to use the 35% of our gas supply they export to us, or if the price of wholescale gas escalates even further due to sanctions on Russia...


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