Energy Bills To Go Up £150 For Everyone!

[Gromit]

https://www.bbc.co.uk/news/articles/c9qgy11w5dyo

Big profits for these French and German firms.

[THECORBYLOON]

It won't  be for, "everyone".

From your link,

"A typical household's annual energy bill will rise by £149 in October under the new price cap." [emphasis added]

"Bills will remain about £117 a year cheaper for a typical household than in October last year, but analysts say another rise in prices is likely in January."

[Old_Geezer]

Difficult to find relevant info but I would have thought it was difficult to justify further increases after the price rises of the last few years.

 

https://reports.electricinsights.co.uk/wp-content/uploads/2022/09/2-a.png

 

[webbo3]

Good jog OAPs have they're winter fuel allowance.

[Old_Geezer]

True. They can run with that for now.

[Hopkirk]

Gromit you obviously don't understand the system. It absolutely will not be £150 for everyone.

[barry1010]

We've known this for months.  It won't go up for those who have fixed their tariffs, but they might lose out in January if the prices come down

[newmodarmy]

Apart from taking in more windfall taxes I wonder what Labour will do- maybe they will take the process away from OFGEM if they are acting for the benefit of these French and German firms, or they'll change the terms of reference for OFGEM. Of course it's still a competitive market so if non French or none  German firms can do it cheaper then people just need to switch. Of course the sunlit uplands of Great British Energy are just round the corner, ha ha.

[New Judge]

I heard “Mad” Ed Miliband on the wireless this morning:

“The rise in the price cap is a direct result of the failed energy policy we inherited, which has left our country at the mercy of international gas markets controlled by dictators. “The only solution to get bills down and greater energy independence is the government’s mission for clean, homegrown power. That's why we have hit the ground running, lifting the onshore wind ban, consenting unprecedented amounts of solar power and setting the largest ever budget for our renewables auction.”

So basically, rather than rely on foreign dictators (or perhaps the coal and gas we can exploit at home) we are going to rely on the wind blowing and the sun shining (which, for at least 50% of the time, it doesn’t).

The government will have to up the ante considerably to succeed with the “renewables auction” he speaks of, which will mean, of course, greater costs to consumers. The last outing at those auctions (about a year ago) was not entirely successful:

https://www.bbc.co.uk/news/business-66749344

Of course, as we all know, had Labour been in power for the last fourteen years we would not have been in his situation.

The thing that Mr Miliband seems unable to grasp is that for the foreseeable future this country will depend on fossil fuels or burning freshly felled timber for much of its energy supply. This is true whatever policies he develops because the only way wind and solar will ever meet all our needs is to develop sufficient battery technology and capacity to provide for the periods when the sun isn’t shining and the wind isn’t blowing. And that is not going to happen any time soon.

[ToraToraTora]

The price hike is Labour's decision, all part of their plan to kill off a load of pensioners in the coming winter.

...and of course millipede is blaming it on the Tories...

https://www.bbc.co.uk/news/articles/ce814gz08n8o

 

[Peter Pedant]

hi Gromit - survived The night of the  long knives I  see - no not everyone £150

Bills vary across a town ( say) some large and some small, and the rises will vary ( not all £150)

the standing charge is NOT capped ( not a price) and this can be used ( is used) to absorb some of the costs  of gas so the big consumers ( who may be the poor) are effectively subsidized by the whole community

well explained by the ofgen yapper this am on radio 4

some low rent accomodation is all electric with the unit cost 4 x gas ( no choice)

whilst I am at it - average isnt half and half ( like a see-saw: that is median)

Take fr'instance the values 1,2,3,4,1000

The average is around 200 and does NOT have two values either side

The median is 3 - and does have two values either  side

just saying

 

[youngmafbog]

//I would have thought it was difficult to justify further increases after the price rises of the last few years.//

Prices have dropped but are on the rise again with winter coming.  The prices reflect the cost of energy on the International market, thats the way it works.

In addition of course the help outs (provided with the windfall taxes) are ceasing and winter fuel payments for OAP's stopping.  All thanks to Stealing Starmer and Robber Reeves.

[Old_Geezer]

If you are creating your own energy for your needs, the international market is of little consequence.

[barry1010]

Ofgem sets the price cap, not the government

[davebro3]

ofgem is an arm of the gov, none of the "regulators" are truly independent

[barry1010]

This price cap increase was forecast before the general election.