Energy Prices (Strictly NO referrals!)

[b0rn2sk8]

Uproar on Money Saving Expert atm. Martin Lewis advised people to fix now due to the recent and October price cap, so many have fixed on much higher rates as they believe in the long run they will be saving money come the October hike. As the Government are looking at options for October, people who fixed are ******.

Do we think a freeze on energy prices is coming?

He can’t win really, you make a recommendation based on the information at the time, that’s all you can do. He can’t predict what the government is or isn’t going to do, particularly when they are sending very mixed messages.

Likewise what was in the news yesterday is from people that are not in charge of the country.

 

[ivrytwr3]

Oh I'm not disputing he can only give advice, but some mse posters are holding him personally responsible!

 

[413x]

I'm not sure if truss and Sunak would go for that.

It seems very far away from their suggestions especially truss

It doesn't even seem a very labour plan. It benefits the wealthy more than the poor. Not as bad as an NI reduction.
But not as good as a targeted hand out.
On plus side, it's simple

 

[Zatoichi.uK]

Oh I'm not disputing he can only give advice, but some mse posters are holding him personally responsible!

I'm still a bit salty that he said to stick on the cap so thats what I did. That didn't pay off either lol.

My thoughts are that the government MUST do something about energy bills beyond the £400 top up based purely on what we know about the level of savings people have. It'll plunge most people (not already) into debt within 2-3 months, kill retail etc. It'll be carnage.

 

[413x]

I'm still a bit salty that he said to stick on the cap so thats what I did. That didn't pay off either lol.

My thoughts are that the government MUST do something about energy bills beyond the £400 top up based purely on what we know about the level of savings people have. It'll plunge most people (not already) into debt within 2-3 months, kill retail etc. It'll be carnage.

I see no way around it.
It's just a question of who pays and when.


I think it should be an increase of the payment to the poorest. But you have to identify the poorest. Which is difficult.

Capping energy prices reduces push to solar etc too.

If bills are fixed and cost will be recouped by general tax, I won't be going solar for sure.

 

[ivrytwr3]

Why is it always to the poorest? Lots of people who are on modest wages are also struggling.

 

[Doobedoo]

Why is it always to the poorest? Lots of people who are on modest wages are also struggling.

Well if those on modest wages are struggling then what is happening to the poor.

 

[Slam62]

Well if those on modest wages are struggling then what is happening to the poor.

They're used to it, they won't mind

 

[200sols]

Well if those on modest wages are struggling then what is happening to the poor.

Give to much help to the 'poor' and nobody else and those just managing will be better off not working and getting all the handouts. This coming rise is unsustainable for people well into decent wage territory. They all need help not just poor people.

 

[b0rn2sk8]

Oh I'm not disputing he can only give advice, but some mse posters are holding him personally responsible!

I'm still a bit salty that he said to stick on the cap so thats what I did. That didn't pay off either lol.

I suppose the alternative is to look at the information yourself, consider their opinion and most crucially make your own decision.

 

[Doobedoo]

Give to much help to the 'poor' and nobody else and those just managing will be better off not working and getting all the handouts. This coming rise is unsustainable for people well into decent wage territory. They all need help not just poor people.

I wasn’t saying only give help to the poor, I was pointing out the obvious.

 

[dave1983]

Why is it always to the poorest? Lots of people who are on modest wages are also struggling.

100% this most people are coming out of their fixed tariffs will see their bills triple with no help from the government. And the give money to people on lower wages when really this should be going directly to the energy supplier. The Government are literally saying "here's 400 quid go and spend money so you're in debt to us".

 

[Surveyor]

100% this most people are coming out of their fixed tariffs will see their bills triple with no help from the government. And the give money to people on lower wages when really this should be going directly to the energy supplier. The Government are literally saying "here's 400 quid go and spend money so you're in debt to us".

The £400 is being taken directly off energy bills or being provided by vouchers for prepayment customers. There's no option to spend the money on anything else and there's no debt.

 

[Haggisman]

100% this most people are coming out of their fixed tariffs will see their bills triple with no help from the government. And the give money to people on lower wages when really this should be going directly to the energy supplier. The Government are literally saying "here's 400 quid go and spend money so you're in debt to us".

The £400 is going directly to the energy supplier in 6 monthly payments of £66 isn't it? And it's now non-repayable, so not sure where you're getting the "in debt to us" part from?

 

[Zatoichi.uK]

I suppose the alternative is to look at the information yourself, consider their opinion and most crucially make your own decision.

I did. I never said his was the only advice I took.

 

[MadMossy]

The £400 is also being given to every household not just the lower income ones.

 

[chrcoluk]

Uproar on Money Saving Expert atm. Martin Lewis advised people to fix now due to the recent and October price cap, so many have fixed on much higher rates as they believe in the long run they will be saving money come the October hike. As the Government are looking at options for October, people who fixed are ******.

Do we think a freeze on energy prices is coming?

Its the selfishness showing up on people on there.

I fixed, but I am sensible enough to know that freezing the cap is a good thing to do, I can always unfix if I want it.

With that said there is no chance Truss is ploughing 30 billion into keeping the current cap, and I think Sunak is invested in COL payments now.

Seems to be a few energy investors on MSE, they ignoring that the current situation is unsustainable, and focusing on the suppliers needs, and also very anti state ownership of extraction.

 

[Uther]

Wasn't it Starmer who suggested freezing the cap? If so then there's little chance the Cons will do it. Some people are in for a very nasty shock...

Cost of living crisis: Families underestimating how much energy bills will rise, research shows

While recent forecasts predict a bill for an average household will increase by around £1,600 to over £3,600, Uswitch research showed that 12% of people said they think bills will decrease this winter.

news.sky.com

 

[chrcoluk]

Why is it always to the poorest? Lots of people who are on modest wages are also struggling.

The thing is its not.

Historically the government has given more money to middle and higher wage earners, its really only this current crisis where some focus has been put onto them, whilst I do agree its more than just the poorest are suffering, we need to be real here, the poor will be suffering more than a middle earner which warrants them getting more assistance.

Most median earners have got £550, so they have received assistance, and thats enough for me (it would be nice to get more as my cost of living has gone up way more but I accept there is many in far more need than myself). I am glad the £650 was limited to means tested recipients.

 

[MadMossy]

Freezing the cap isn't going to fix the issue though, sure it will ease bills short term, but longterm the energy market needs fixing.

It will also likely result in some suppliers going out of business as the wholesale price continues to rise.