Re: Energy companies collapse
 

I believe there will be a one-off credit on the bill, then once a year, a £40 debit will be added to the bill.

Re: Energy companies collapse
 

£200 will deducted from EVERY bill in October then the following April £40 will be added to EVERY yearly bill for 5 years and you have no choice

And this means if in the next 5 years anyone who takes residence in a property and pays a bill for the first time will also be charged the extra £40 a year even if they did not receive the £200 deductions. Terribly unfair and a terrible idea

Re: Energy companies collapse
 

I think Seph is one of few Conservative supporters who really gets it. Imposing free market dogma on inappropriate sectors like energy, water, etc. could, and did, only lead to disaster. In the last year, the Big 6 energy companies made over 3 billion in profits and since 2010, the energy firms have paid £200bn to shareholders.

By having a degree of state control and/or ownership, you can do what France has done and limit the energy bill rises to 4%. Of course, the people who pick up the bill here, in this country, are the poor smucks who have no choices, and what is even more depressing, these same smucks will vote for more of the same come the next election.

Re: Energy companies collapse
 

Then again if they've moved from somewhere else, they won't have to pay back the £200 they got there.
No simple solutions to any of it.
As Martin Lewis point out.

Re: Energy companies collapse
 

They would have to move somewhere and not have to pay a bill to get out of paying the £200 back because EVERY bill for 5 years will get the £40 levy.

IMO Already having levies on bill is irrelevant, this is a forced loan with a forced repayment plan that as said is unfair. Calling it a levy is just clouding the issue and trying to fool people into thinking we are not having our rights crapped all over

The £200 gives relief today but adds extra strain later. What happens in October if the cap increases dramatically again? or April next year? image for the next few years if they keep giving us £200 and then levying £40 eventually we will be paying back the loan with levies and our bill will still be sky high

Re: Energy companies collapse
 

France is a heavy user of Nuclear power and that limits the impact of higher gas costs. The UK uses gas for more than a third of it's electricity production. Ownership doesn't come into it.

Re: Energy companies collapse
 

My only silver lining is that the £200 credit this year will free up some money which can go towards other winter bills and then when I have to pay it back inflation will have whittled down it's relative buying power.

I know this isn't a true win win view but if I don't find a positive spin on what I can't change then I will probably just sit down and cry.

Re: Energy companies collapse
 

As should we be if they bothered to build the stations they promised

---------- Post added at 12:23 ---------- Previous post was at 12:21 ----------

My anxiety has me thinking the increases will proceed for the next few bills. I can soak up this one and maybe the next but if it continues into 2023 I will be living on bread and water or having no heating no lights and a lot less entertainment.

Re: Energy companies collapse
 

That's my point. They will have received the £200 previously, so it's not unreasonable for them to get the £40/year deduction at the new property.
What other way was there of doing it? Too many different scenarios to deal with simply.

You have to tie the "debt" to an individual or a property.

Re: Energy companies collapse
 

I'm thinking of selling up and moving to a quaint cottage in the countryside that has open fires and an old style aga stove . . . with a nearby forest definitely a requisite ;)

Re: Energy companies collapse
 

Not everyone. There will be a number over the 5 years that have not been responsible for a bill before. Someone leaving home and moving into billed accommodation and someone splitting from their partner are 2 examples where someone was not paying a bill so did not receive the £200 but will when they start paying a bill have to pay the £40

The simple way to deal with it is if you did not receive the £200 you do not pay back the £40. Seems incredibly simple to me

Re: Energy companies collapse
 

So how would you make the "debt" follow the household that received the £200?
Too many scenarios to cater for.

Re: Energy companies collapse
 

I would not have the debt full stop. I most certainly would not have it set up unfairly so someone else pays it that never received it like you seem happy with

Just fess up from your previous posts you appear to have not even realised there would be some paying off a debt they never got the payment for

Re: Energy companies collapse
 

The £150 per household is already being "written off".

I've previously highlighted a scenario where households will get the £150 discount, but not the £200, although they will end up paying more for their electricity.

Re: Energy companies collapse
 

Quite a few of us won't be getting the £150...

(around 20%)