Energy Prices (Strictly NO referrals!)

www.bbc.co.uk

UK economy grows but fears remain over rising prices

The economy grew by 0.5% in May, higher than most economists expected.
www.bbc.co.uk

Against all expectations the economy grew 0.5% in May, across all sectors of the economy it was reported. Though it does go on to say Wholesale and Retail dragged down the economy in May, so I'm not sure how that correlates with growth across every sector?

And the biggest driver of the GDP growth.....GP appointments...! :confused: How does that work? :p

So even with all the higher energy and fuel bills, and fears of what's to come, people still seem to have money to spend for now.
 
Things are going to get much worse. We're fortunate enough that we can stomach the extra costs, but some people are going to be living like folks did in the 50s. Rationing their food, washing with cold water, or having showers or baths every 2-3 days instead. Refusing to put the heating on in the winter or simply not having the funds to top up those archaic meters.

Successive governments and the EU have royally screwed us over with their reliance on Russian oil and backward tracking on nuclear energy.
 
Monkeynut said:
The direct debits trick was used by firms about go bust last year. We know firms are still selling below cost, so are more big firms in trouble than we realise?
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Ofgem named 6 which apparently have major issues with their DD overcharging but have gone out as a blanket demand to all suppliers. Some supplier, no doubt, will have been using unreasonable DD increases to prop up cash flow. Bulb did it and they went pop. The big 5 should be fine but they are still hurting and loads fo customers are loss making at the moment.
 
Zenduri said:
Ofgem named 6 which apparently have major issues with their DD overcharging but have gone out as a blanket demand to all suppliers. Some supplier, no doubt, will have been using unreasonable DD increases to prop up cash flow. Bulb did it and they went pop. The big 5 should be fine but they are still hurting and loads fo customers are loss making at the moment.
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The problem with this strategy is we then all pay for it again via the standing charge as the funds have to be recovered back to the individual somhow.

I’m expecting standing charge to move closer to 60p per day for electric £219 a year and 35-40p for gas £130 so £350 before you actually use anything.
 
fredwi said:
That’s why you’re being a Richard head then….
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Not really.
People often quote their mortgage costs when referring to other monthly costs. Like a Mortgage is the holy grail of monthly outgoings, forgetting it's probably over 25+ years and they could be many years into it. (e.g. 20 years ago was significantly cheaper)
 
SDK^ said:
Not really.
People often quote their mortgage costs when referring to other monthly costs. Like a Mortgage is the holy grail of monthly outgoings, forgetting it's probably over 25+ years and they could be many years into it. (e.g. 20 years ago was significantly cheaper)
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I'd guess as the main forum demographic seems to be late 30s mortgage is usually the biggest bill. Especially as overall I'd expect the forum to out earn the general population. Further pushing up mortgage payments.


For my parents with thier huge housenand oil heating. Its definitely bills!
 
SDK^ said:
Not really.
People often quote their mortgage costs when referring to other monthly costs. Like a Mortgage is the holy grail of monthly outgoings, forgetting it's probably over 25+ years and they could be many years into it. (e.g. 20 years ago was significantly cheaper)
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Its a case of it being difficult to think of a service used in your home would cost more than the actual cost of the home itself. Gas and Electric should never cost more than the Mortgage repayment for the house itself... I guess in a way its like paying for the lease on a car, yet the Petrol to run it per month costs more than the car. Just doesn't seem right at all. At that rate you may aswell pay a stupid amount for G&E and the house comes with the payment, or pay for the petrol and the car comes free..
 
House prices may have risen but I’m fairly sure that gas and electric was also considerably cheaper 20 years ago.

Even I remember paying 10p/kWh and I’ve not owned houses for anything like that long.
 
pimper said:
Gas and Electric should never cost more than the Mortgage repayment for the house itself...
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Depends how much your house was and how long ago you bought it. A mortgage on a cheap house bought 20 years ago is going to a lot less now, than a 'cheap' house bought in the last 2 years.
e.g. My Dads monthly phone contact is more than his mortgage
 
SDK^ said:
Depends how much your house was and how long ago you bought it. A mortgage on a cheap house bought 20 years ago is going to a lot less now, than a 'cheap' house bought in the last 2 years.
e.g. My Dads monthly phone contact is more than his mortgage
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So what you've said there is, a house that was bought decades ago, when inflation was lower and money went a lot further, and has by now mostly been paid off, has a lower repayment than today's G&E prices, colour me shocked! I wonder though, decades ago, when the house was first bought was the price of G&E as expensive or more than the Mortgage? Mortgages generally are and most likely always will be the largest single monthly outgoing for anyone at that current period in time, apart from those with specific circumstances i.e. live in a chicken shed so they can lease a Bugatti.. if the price of Gas and Electric costs more than the price of Mortgages (for houses not bought decades ago...) costs more than the monthly repayments of a house then something is clearly wrong.. at least in my eyes that is.
 
is OVO safe? I have a £600 in credit.

​

Your current plan:
Simpler Energy
Plan type and length:
Variable
It ends on:
N/A
Electricity you used:
5860 kWh
Gas you used:
12043 kWh
How much it cost:
£1427
 
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