Energy price cap going up to £2800 in Oct
Ouch!
Again with the useless absolute figures. Give me the actual rules so I can work out how _I_ will be impacted.
(Directed at the press, not Tony.)
Our fix was around £220. I’m now paying the £450 EDF think I need to pay. Much depends on how much gas we use next winter. We’ve cut our electricity use as much as is viable.Trying to work out where we could be come February when our fixed tariff ends. Currently paying about £250. It was fixed in Feb 2021. Seeing as I’ve not seen any of the increases am I really looking at double that? This is scary stuff.
Our fix was around £220. I’m now paying the £450 EDF think I need to pay. Much depends on how much gas we use next winter. We’ve cut our electricity use as much as is viable.
The government should use a windfall tax to pay off the bust companies rather than the electricity standing charge being so high, which costs us all a lot and feeds into inflation as industry, shops, hospitality etc pay more too.
Those whose bills are jumping 2X, 3X etc, whilst a shock, are probably ahead of the game overall based on what they’re using, having benefited from lower pricing for longer.
You can remind them of that when they're queuing up at the food bank. It might cheer them up a bit.
So after a year or two, when the remaining companies have recouped the cost of covering the failed ones, the standing charges will be reduced back down to previous levels?
Hands up who thinks that's going to happen...
The standing charges are getting daft. The challenge is, the population as a whole have benefited from unsustainably cheap pricing from companies who’ve gone bust. If the sustainable companies have to cover the bad companies losses, these will be recouped one way or another from you know where.
Those whose bills are jumping 2X, 3X etc, whilst a shock, are probably ahead of the game overall based on what they’re using, having benefited from lower pricing for longer.