Re: Energy companies collapse
 

Letting themselves get boxed in on this was a schoolboy error. Nobody - including the bosses of the major oil producers we’re lucky to have within reach of the Treasury - would ever have seriously questioned the wisdom of a windfall tax. I suspect they will present the development of their broader plan, bringing in the wind farms etc, as the reason for not acting sooner.

Re: Energy companies collapse
 

Energy price cap to rise to £2800 in October.

LINK

This should be restricted to the price of the actual fuel and NOT standing charges which customers cannot influence.

Re: Energy companies collapse
 

Agreed. That would require a more competent regulator and government than we have at present.

Re: Energy companies collapse
 

Point of information (might be stating the "bleeding obvious", but not seen it mentioned before in the thread) - the Price Cap figure is for "average" usage; if you use more than average, your bill will exceed the Price Cap*.

https://www.thesun.co.uk/money/17830...rice-cap-rise/

*came to my attention when my energy supplier (Shell Energy) sent me a forecast last week for next year, as my Fixed Rate finishes early July - my annual bill will rise from around £1,400 to £2,500**

**probably around £3,500, with the latest September rise.

Re: Energy companies collapse
 

Yep, mine is at least £2800 already. :(

Re: Energy companies collapse
 

Estimated 42% rise this Oct then forecast no rise Jan then April possibly a small drop to factor in the current drop in wholesale (Info from Martin Lewis last night )

Re: Energy companies collapse
 

There should be some support announced tomorrow by the Treasury.
https://twitter.com/AnushkaAsthana/s...75065414397952

Re: Energy companies collapse
 

I would not be surprised if it ends up being another UC uplift basically screwing anyone on legacy benefits like myself who will end up not getting it. They can not really suddenly manage to do it after saying the could not at the start of Covid

Re: Energy companies collapse
 

I hope the news tomorrow is as positive as possible for you.

Re: Energy companies collapse
 

or anyone not on benefits ...

Just becasue someone doesnt get "benefits" doesnt mean they are somehow rich.

Aside from which someone in a household can be on benefits, but unless the energy bills are in their name, it doesnt count.

The Council tax rebate seemed an easy way to go about it, or remove VAT on Energy (or a rebate on your bill).

Re: Energy companies collapse
 

Yeah but a lot of the poorest in the country claim UC as it now covers benefits such as Child Benefit and Tax Credits so even those on over 20K can get it

Re: Energy companies collapse
 

Re: Energy companies collapse
 

From The Times
- £200 energy loan to be scrapped and replaced with a grant funded by a windfall tax on energy companies
- Grant could be higher than £200, possibly as much as £400
- Above is part of a package of measures to help the most vulnerable households.

https://twitter.com/thetimes/status/1529558975238356998

Re: Energy companies collapse
 

well that would work

Re: Energy companies collapse
 

£400 will help a little but Prepayment customers saw an increase of £708 from £1,309 to £2,017 in April and will rise again to over £2,790 this October. That's a rise of nearly £1500 within a year. Also, with no prospect of this coming down anytime soon.