Energy Price Hike

[tiggerblue10]

https://www.bbc.co.uk/news/live/uk-60236456

Will this have a big impact on your finances?

[aelmpvw]

no but i'm probably in the minority

[dannyk13]

It will be hard for some to find an extra £50 approx per month. Obviously it will impact on my finances but it won't actually leave me struggling.

[douglas9401]

Aye, I'll have to cut back on the quails eggs and vintage wines, to say nothing of the pressure on my various properties around the world.

Damn you energy companies for ruining my Shangri La.

[novalis]

I totally agree with Danny. It won't affect me but it will have a massive impact on many people. My fear is that it will push a lot of people who have felt the impact of Covid and the aftermath of that over the mental edge.

[Ken4155]

There will be those on benefits and low income wages who are already budgeted to the nth. An extra £12 a week is going to have a massive impact on their resources. I know there is help out there but not everyone qualifies and some, sadly, slip through the net.

[Ken4155]

I heard (yesterday) mention of a £200 one-off rebate. That will hardly 'touch the sides' for some. And before anyone asks "So, what's the answer?", i don't know. I'm a retired painter and decorator and answers like that are way above my pay grade.

[douglas9401]

Having lived through various crises including the winter of discontent I know that once the already rich, greedy, grasping contollers of our collective future make a quick killing then all will revert back to what it was before, the majority managing and the rest falling deeper into despair or sailing on untroubled, depending on what side of the majority they lie.

Wages will rise to compensate, heads will be patted and as long as they can keep the downtrodden off the streets all will be well, relatively.

[Stickybottle]

I hope you are right about the wages douglas but I do not see that as being part of the plans anytime soon in the levelling up scheme of things

[Ken4155]

Just heard that the £200 mentioned yesterday is in fact £350.

[goodgoalie]

The £200 off all electricity bills in October has to be repaid in five instalments of £40 over five years, so it's just a loan. Also, people don't get 'bills' any more (unfortunately); we all have to pay a monthly direct debit - so are they going to reduce this, and if so, how?

[New Judge]

//"So, what's the answer?",//

The answer is to extract coal and shale gas of which these islands have plenty and to burn it in conventionally fuelled power stations (some of which are still "mothballed" instead of being demolished). Alongside that the Rough storage facility off the north-east coast should be recommissioned to provide a buffer against gas shortages. The "green" levies currently being used to build facilities to provide intermittent and unreliable supplies of electricity should immediately be diverted to the development and construction of UK designed and built nuclear power stations so as to permit a phased withdrawal of the fossil fuel plants.

This should be the accompanied by an immediate cessation of all measures to achieve the ridiculous and unachievable "net zero" target which the government has pledged to meet.

All these measures should have been undertaken over the past few years and this ludicrous situation, which has been engineered by successive governments, could have been avoided. Only when the eco lunatics are sent packing and some sanity is restored will things like this be prevented.

[New Judge]

//Also, people don't get 'bills' any more (unfortunately); we all have to pay a monthly direct debit ...//

I pay by direct debit but I still get bills.

[dave50]

Well said new judge, absolutely correct but it will fall on deaf ears.

[goodgoalie]

I pay by direct debit monthly, too (as does nearly everyone), but - as with the Warm Home Discount - the proposed 'help' will go to the supplier not the consumer, and will just slosh around as a credit on the account, so what you pay monthly is unlikely to change.

They'd have done much better if they'd cut or cancelled the iniquitous 'green levy' which adds a fortune to all our bills.
Whatever happened to North Sea oil and gas, which we used to produce in abundance? Abandoned in the rush to ruddy 'renewables'.

[tiggerblue10]

I've had to increase my DDs twice since October and also had to pay top ups.

[gingejbee]

gg...not only can you opt for paper bills, but you do not "have to" pay by direct debit.

[Bobbisox1]

It won’t effect us per se but where I was alway in credit ,that’ll be eaten away by the increase , I have been paying over the amount quoted by my then supplier who went bust so any increase on that shouldn’t be too harsh…I hope

[pat2604]

https://www.bbc.co.uk/news/business-60242432

It will affect us all, obviously some more than others.

My link contains;

/Michael Ball says he is anxious about the price rise
He pays for his electricity via a pre-payment meter. He has already taken certain steps to reduce his energy bills, like washing his clothes at his Mum and Dad's house nearby.

"I do worry about money a lot. It's a big burden and this news is something that makes me feel anxious," he said.

He said he might have to move back in with his parents if his energy bills continued to rise.

"If I lose my independence, my own space, I worry about how it might affect my finances and mental health."/

Personally I think young people should get to grips with hardships. They expect too much from parents.

I am sure it's not the singer Michael Ball! There is a photo!

[pat2604]

Perhaps he should face facts, move back with parents if they want him , and pay them a realistic rent and his share of bills,and do his own washing!

[pat2604]

I haven't worked out how much it will affect us. We don't have gas. We have oil fired heating, topped up with a woodburner At present we are still paying £66 per month for electricity. We are fortunate in that we don't have a mortgage or rent to pay, but we have been through hard times when young. We didn't turn to our parents.