Next Energy Price Cap Predictions....

Fat_Dragon said:
You will be getting £400 in October on top of the £150 council tax rebate (If band A-D). Once the new price cap is announced the Government will probably announce more help. Plus councils have a discretionary fund you can apply for if you are in hardship.
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In October my bills will probably be about 370 quid that's an increase of over £2500 a year compared to what I was paying a year ago.

£550 help from the government doesn't even touch the sides, then you've got petrol which must be up about 50% from a year ago and the same with food.

I don't know what hardship payments are available but both of us work in our house so I doubt it'll be anything.

Its probably the equivalent of about 5 grand a year being taken out of our disposable income, I'm not sure how many people can absorb that.

I made the point last year on here that as a country we just seem to accept our energy bills tripling without any protest. Where does it stop, will my gas and electric be 2 grand a month in a couple of years? At some point the government need to do something drastic and a 400 quid discount on bills isn't the answer.
 
Uwefuchs said:
In October my bills will probably be about 370 quid that's an increase of over £2500 a year compared to what I was paying a year ago.

£550 help from the government doesn't even touch the sides, then you've got petrol which must be up about 50% from a year ago and the same with food.

I don't know what hardship payments are available but both of us work in our house so I doubt it'll be anything.

Its probably the equivalent of about 5 grand a year being taken out of our disposable income, I'm not sure how many people can absorb that.

I made the point last year on here that as a country we just seem to accept our energy bills tripling without any protest. Where does it stop, will my gas and electric be 2 grand a month in a couple of years? At some point the government need to do something drastic and a 400 quid discount on bills isn't the answer.
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I'm not having a dig at anyone on here but when I read threads about people buying 60 grand electric cars and heating stables I'm not sure how many realise the seriousness of the situation.
 
This isn't a sympathy exercise either, there'll be millions out there who are worse off than me. Just giving an example of how these price increases are impacting people.
 
Fat_Dragon said:
If you do get into difficulty i would still apply. The worst that can happen is they say no.
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Yeah you're right but it shouldn't come to this.

This level of inflation with our bills needs to be got under control. Anything else is a sticking plaster on a gaping wound.
 
S7DiscoDown said:
It's bad enough at home. Yet you really have to feel for buisness that use electricity.

I was chatting to a lady who works in a local laundrette. It's was a 24hr/365 laundrette. They had a yearly electricity bill of £9600 (ish) last year.

This year they are expecting it to be over treble that around 35k+. So now it's only open in the day and not 365 to save money. Some pretty stunning figures for a small laundrette.

God knows what these large factories and warehouses must go through in terms of equipment and heating etc.
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I was in my local last night for a few pints and the landlady was very concerned about the bill increases for the pub. Her margins are very tight even before these massive increases to her costs. She is uncertain of her future running the pub.

It's not going to bode well for lots of small (local) businesses when we are all going to have even less disposable income in the upcoming months.

We are all in it together, my @rse!
 
I know a few people who have a mortgage, asked their bank for a 6 month mortgage holiday period. Their mortgages ranged between £450 - £600 a month so over the 6 months they have between £2700 - £3600 to help with rising bills.

Obviously renting is a different matter.
 
Fat_Dragon said:
I know a few people who have a mortgage, asked their bank for a 6 month mortgage holiday period. Their mortgages ranged between £450 - £600 a month so over the 6 months they have between £2700 - £3600 to help with rising bills.

Obviously renting is a different matter.
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Thats what a lot of people will have to do, but is this a 6 month problem?

Also, I'm not confident bills will go back down when the price of oil goes down.
 
weemoby said:
I was in my local last night for a few pints and the landlady was very concerned about the bill increases for the pub. Her margins are very tight even before these massive increases to her costs. She is uncertain of her future running the pub.

It's not going to bode well for lots of small (local) businesses when we are all going to have even less disposable income in the upcoming months.

We are all in it together, my @rse!
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I can't see how businesses like that will survive unless something changes. I know the government don't want to keep borrowing but what's the alternative.
 
Fat_Dragon said:
I know a few people who have a mortgage, asked their bank for a 6 month mortgage holiday period. Their mortgages ranged between £450 - £600 a month so over the 6 months they have between £2700 - £3600 to help with rising bills.

Obviously renting is a different matter.
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The only thing about doing a mortgage holiday is that you are paying the mortgage over 6 months shorter and the interest has accrued to make the mortgage balance higher, this resulting in your mortgage payments higher. Again it’s a short term solution
 
Fat_Dragon said:
You will be getting £400 in October on top of the £150 council tax rebate (If band A-D). Once the new price cap is announced the Government will probably announce more help. Plus councils have a discretionary fund you can apply for if you are in hardship.
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£3000-550 = £2450 extra a year. Plus increase in fuel and food.
You feel this is perfectly acceptable for working class families to simply absorb? 🤷🏻‍♂️🤷🏻‍♂️
 
h_m_boro said:
£3000-550 = £2450 extra a year. Plus increase in fuel and food.
You feel this is perfectly acceptable for working class families to simply absorb? 🤷🏻‍♂️🤷🏻‍♂️
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No, but that figure does not include the support the government will provide after the next increases. Plus, as I’ve already stated, councils also offer a hardship fund on top.
 
thewanderer said:
This won't make a difference. The price of gas is completely out of the governments control.
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The point is that if it's nationalised the electorate can choose a government who will keep energy affordable.

This would make a massive difference to the price consumers pay as the government would be voted out if they were too high.
 
Fat_Dragon said:
No, but that figure does not include the support the government will provide after the next increases. Plus, as I’ve already stated, councils also offer a hardship fund on top.
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Families are struggling anyway. No one will help with the increase in food and fuel, they have to suck it up and make sacrifices.
Wallop a £2500-3000 increase in costs on top of this and it will tip families over the edge. It's fine if you have substantial savings, or a shed load of disposable income. Many families haven't. And the grants, help you mention while welcome will a. Not help everyone (money will run out quickly) and b. Not even scratch the increase in costs.
I haven't even touched on working poverty where there will be millions of people not eligible for any grant, assistance etc but will be royally shafted and pushed into the red as their wages simply do not cover the bills.
And you genuinely think the government, new PM is going to ride in like a knight In shining armour and save the country from the gutter? Not happening, sorry.
Meanwhile record profits for the energy companies with bulging salaries to the CEs and record dividends to shareholders.
The ultimate neoliberal wet dream. In UHD Technicolour.
 
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