| Liz Truss Energy Plan 21:45 - Sep 8 with 2336 views | Jack123 |
Anyone worked out the figures yet? I can see the average household bill is capped at 2,500.
But there seems to be no figures I can find now for the proposed 80% increase in October, my estimations would it be just an 18-20% increase in October?
I'm on a prepayment, so just trying to work out what it means. |  |
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| Liz Truss Energy Plan on 21:49 - Sep 8 with 2329 views | Dr_Winston |
I shall be getting in touch with OVO, because as far as I can tell their calculations for increasing my DD take no notice of the £400 that we're all due to receive. |  |
| Pain or damage don't end the world. Or despair, or f*cking beatings. The world ends when you're dead. Until then, you got more punishment in store. Stand it like a man... and give some back. |
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| Liz Truss Energy Plan on 21:58 - Sep 8 with 2300 views | Scotia |
I think 18-20% increase sounds about right depending on usage, but that's before the £66/67 a month rebate from the government for this winter.
I'm probably an average user at the moment so should be about £8 a month better off this winter but will probably be paying £58 a month more from April 2023. |  | | |
| Liz Truss Energy Plan on 22:06 - Sep 8 with 2288 views | Jack123 |
| Liz Truss Energy Plan on 21:58 - Sep 8 by Scotia |
I think 18-20% increase sounds about right depending on usage, but that's before the £66/67 a month rebate from the government for this winter.
I'm probably an average user at the moment so should be about £8 a month better off this winter but will probably be paying £58 a month more from April 2023. |
Oh good, I hope it is right, still not ideal, but the way things were going to head with 80% in October, 52% in January and 23% in April, I would have been truly up the creek, and that's just for electric alone. | |
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| Liz Truss Energy Plan on 12:56 - Sep 9 with 2167 views | theloneranger |
From Martin Lewis ...
On the back of a prior briefing and the announcement in Parliament, here is my very quickly bashed out summary of the new energy price freeze.
The new price guarantee starts 1 October, and for someone on typical use will be £2,500 a year and will last for two years.
The current price cap is £1,971 a year rate at typical use, and was due to rise to £3,549 a year (and likely £5,400 a year in January). It was £1,277 a year last winter.
This will be a cap on standing charges and unit rates, so use less you pay less, use more you pay more (I’ll publish the rates when I have them). There is no total cap on what you pay, the typical rate is just a figure for illustration.
The new lower price cap includes getting rid of the green levies.
The £400 payment to all homes (paid as £66 a month over winter) will continue.
That will take the average payment to £2,100 a year.
To estimate what you’ll pay, over a year, multiply current costs by 6.5% (each £100 becomes £106.50). This includes the £400 discount (but not other payments).
For those with lower than typical bills, the % increase will be lower, for higher users higher (as the £400 payment is flat regardless of use, so has a bigger proportionate reduction on lower usage).
The £650 payments to those on many benefits will continue (half’s already been paid).
As will the £150 to those with disabilities and £300 to pensioners.
There’s no announcement on whether these payments will be in place next winter — I suspect the political reality is at least for benefits recipients — similar will be paid next year.
VAT is not being reduced in this announcement, but there is a chance (50-50 I’d say) that may happen in the Chancellor’s fiscal statement next week.
For those on LPG and heating oil, I’m told there will be discretionary payments to help them too (awaiting details).
For those in park homes and who pay landlords directly, I’m told they should benefit from the new business help (awaiting details).
I'm hearing fixed tariffs will have the same per pound unit rate reduction as variable tariffs (ie, roughly 30% off). So it looks like, unless you fixed at over the new October price cap level, your fix will be cheaper than moving to variable. (More to check on this.) |  |
| Everyday above ground ... Is a good day! 😎 |
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| Liz Truss Energy Plan on 16:17 - Sep 9 with 2067 views | Catullus |
We got lucky, were still in a fixed rate tariff that runs out next April. We are overpaying right now, on purpose and are nicely in credit. Truss doing this will save us a fortune and come April our rse will be about 40 per month. | |
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| Liz Truss Energy Plan on 16:49 - Sep 9 with 2040 views | onehunglow |
| Liz Truss Energy Plan on 16:17 - Sep 9 by Catullus |
We got lucky, were still in a fixed rate tariff that runs out next April. We are overpaying right now, on purpose and are nicely in credit. Truss doing this will save us a fortune and come April our rse will be about 40 per month. |
I turned down a fix with octopus as it seemed ludicrous.
Now, it looks much better
Tw@t am I | |
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| Liz Truss Energy Plan on 14:41 - Sep 11 with 1848 views | Treforys_Jack |
Windfall tax is the most obvious answer, these energy firms are making gigantic profits, so tax them. |  | | |
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| Liz Truss Energy Plan on 17:09 - Sep 11 with 1812 views | majorraglan |
| Liz Truss Energy Plan on 14:41 - Sep 11 by Treforys_Jack |
Windfall tax is the most obvious answer, these energy firms are making gigantic profits, so tax them. |
That’s not going to happen, they’ve said as much and we will pick up the tab.
We’re going to be in this mess for a while, the quickest way to ramp up energy production is via some renewables, but for that to happen we need a coordinated approach from central government incorporating generators, councils and National Grid. It crackers that there are projects in the pipeline which can’t progress because we don’t have the infrastructure to connect them to the grid. | | | |
| Liz Truss Energy Plan on 17:20 - Sep 11 with 1806 views | Treforys_Jack |
| Liz Truss Energy Plan on 17:09 - Sep 11 by majorraglan |
That’s not going to happen, they’ve said as much and we will pick up the tab.
We’re going to be in this mess for a while, the quickest way to ramp up energy production is via some renewables, but for that to happen we need a coordinated approach from central government incorporating generators, councils and National Grid. It crackers that there are projects in the pipeline which can’t progress because we don’t have the infrastructure to connect them to the grid. |
I know they won't, it's a disgrace though. The French pension fund is allegedly propped up by UK utility profits. | | | |
| Liz Truss Energy Plan on 18:09 - Sep 11 with 1788 views | Dr_Winston |
What we're seeing with the energy crisis is, by and large, a continuation of some of the problems that began at the start of the Covid crisis. In a Globalised world, too many safe, secure Western Democracies allowed themselves to become complacent and dependent on other nations for the supply of critical items.
I think we need to see a list drawn up of industries vital to the national interest. Industries such as energy, steel, PPE, microprocessors and other similar things that can, as much as possible, meet the needs of the UK internally.
It's not an ideal situation because inevitably the call will then come to Nationalise such industries which would inevitably lead them to become as bloated, inefficient, poorly managed and wasteful as basically anything else run by any UK Govt, but I think we have to consider it in an unstable world.
Perhaps we could require them to be Govt owned, but not Govt run. Operated close to the same way as any other FTSE company but ultimately the Government is the sole shareholder. | |
| Pain or damage don't end the world. Or despair, or f*cking beatings. The world ends when you're dead. Until then, you got more punishment in store. Stand it like a man... and give some back. |
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| Liz Truss Energy Plan on 21:38 - Sep 11 with 1753 views | majorraglan |
| Liz Truss Energy Plan on 18:09 - Sep 11 by Dr_Winston |
What we're seeing with the energy crisis is, by and large, a continuation of some of the problems that began at the start of the Covid crisis. In a Globalised world, too many safe, secure Western Democracies allowed themselves to become complacent and dependent on other nations for the supply of critical items.
I think we need to see a list drawn up of industries vital to the national interest. Industries such as energy, steel, PPE, microprocessors and other similar things that can, as much as possible, meet the needs of the UK internally.
It's not an ideal situation because inevitably the call will then come to Nationalise such industries which would inevitably lead them to become as bloated, inefficient, poorly managed and wasteful as basically anything else run by any UK Govt, but I think we have to consider it in an unstable world.
Perhaps we could require them to be Govt owned, but not Govt run. Operated close to the same way as any other FTSE company but ultimately the Government is the sole shareholder. |
I totally agree with your comments about being Government owner but not Government run. There is no reason why a ”Utility” can’t be owned by the State but operated to return a profit which would either be reinvested in further improving the product, profit returned to the Treasury or even a combination of both.
You mention microprocessors, the main source of semi conductors is Taiwan who live under the shadow of a Chinese invasion. There’s a plant in Newport which produces semi conductors, stocks owned by a European outfit who’re being bought out by a Chinese outfit. The transaction is currently being reviewed by the Government as it may impact on national security. If we want to retain our economic independence and self interest then I’d have thought the Government needs to take a long look at who’s buying what and where necessary prevent sales which go against the national interest - but who knows cause market forces rule! There’s been a furore over Huawei’s involvement in 5G on account of national security, we need to tak3 theses issues seriously. | | | |
| Liz Truss Energy Plan on 21:53 - Sep 11 with 1736 views | Catullus |
| Liz Truss Energy Plan on 16:49 - Sep 9 by onehunglow |
I turned down a fix with octopus as it seemed ludicrous.
Now, it looks much better
Tw@t am I |
I was just looking, our fix actually runs til October 2023! Even better. We are overpaying by £34 per month now with the £66/67 per month from the government starting next month.
We are in a very good position. We have tried to be cleverer with our finances, when we moved house we took out a 10 year fixed rate so we are now paying less per month (with the interest rises) than if we'd only taken a 2 year fix, 7 years left on that.
We didn't see any of this coming obviously but we have been very cautious and it's paying dividends now.
With the rise at the end of our Octopis fix we'll be paying roughly 40 more | |
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| Liz Truss Energy Plan on 06:26 - Sep 12 with 1694 views | Whiterockin |
| Liz Truss Energy Plan on 21:49 - Sep 8 by Dr_Winston |
I shall be getting in touch with OVO, because as far as I can tell their calculations for increasing my DD take no notice of the £400 that we're all due to receive. |
My energy company (British Gas) sent me an email saying DD's continue to be taken out as normal and that the £400 from the government would be paid back £66/£67 monthly would be refunded into my account.
For example:
If your Direct Debit is £100 a month, you’d pay that as normal. Then a few days later, £67 will be paid in to your bank account. If your Direct Debit is less than £67 a month, say £50 for example, £50 will be refunded to your bank account and the remaining £17 will be applied as credit to your energy account. |  | | |
| Liz Truss Energy Plan on 13:15 - Sep 12 with 1626 views | Brynmill_Jack |
I think it means at least another billion in profits for the vampiric energy companies. |  |
| Each time I go to Bedd - au........................ |
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| Liz Truss Energy Plan on 13:44 - Sep 12 with 1608 views | felixstowe_jack |
| Liz Truss Energy Plan on 13:15 - Sep 12 by Brynmill_Jack |
I think it means at least another billion in profits for the vampiric energy companies. |
Good news for the Country as the energy companies pay 40% in corporation tax. That is £400 million to help the generous energy subsidy as well as enabling them to invest in more gas, oil, wind and solar power so we don't need to rely on Russian ool and gas as well as sending 15% of the electricity we generate.to our European friends | |
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| Liz Truss Energy Plan on 11:04 - Sep 19 with 1464 views | Brynmill_Jack |
| Liz Truss Energy Plan on 13:44 - Sep 12 by felixstowe_jack |
Good news for the Country as the energy companies pay 40% in corporation tax. That is £400 million to help the generous energy subsidy as well as enabling them to invest in more gas, oil, wind and solar power so we don't need to rely on Russian ool and gas as well as sending 15% of the electricity we generate.to our European friends |
Our European friends at least are smashing a windfall tax on the ghoulish and perverse profiteers.
Liz won’t because she says “profits aren’t wrong”. A dead pensioner frozen in her chair is going to make a smashing “make Britain great again” campaign poster.
Pound shop Maggie reduced to 25p. | |
| Each time I go to Bedd - au........................ |
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| Liz Truss Energy Plan on 17:50 - Sep 19 with 1387 views | Kilkennyjack |
| Liz Truss Energy Plan on 17:20 - Sep 11 by Treforys_Jack |
I know they won't, it's a disgrace though. The French pension fund is allegedly propped up by UK utility profits. |
Correct.
A disgrace and another reason never ever to vote Tory. |  |
| Beware of the Risen People
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| Liz Truss Energy Plan on 07:54 - Sep 20 with 1309 views | felixstowe_jack |
| Liz Truss Energy Plan on 17:50 - Sep 19 by Kilkennyjack |
Correct.
A disgrace and another reason never ever to vote Tory. |
Every person receiving a UK works pension relies on our companies making a profit and paying their corporation tax.
Let us not forget labour's £5 billion windfall tax every year introduced in 1997 and continuing every year since.
This has led to nearly all final benefits pension schemes closing to new members and smaller works pensions for everyone.
Good to see every household will receive £600 in addition to the £150 already received. Households receiving benefits also getting extra help.
More help is also being announced in this week's chancellor's announcement.
Another bit of good news is that the wholesale gas is down ftom its peak of over £750 to £270 which is the price it was last December. | |
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