Energy Prices (Strictly NO referrals!)

n111ck

n111ck

n111ck

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HungryHippos said:
You guys understand it's cap per unit right? You have to pay per unit still it's just limiting how much each one costs.

This isn't even necessarily going to happen.
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To make it less confusing and more scary to the public its usually referred to by the cost per year to the average household.
 

Joeyuk

Joeyuk

Joeyuk

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So I’m fixed till August 2023 on a good rate. Just checked what Scottish power best plan they could off me and it’s unbelievable, 70p day and 50p night. That’s 3.5x day and over 5x night that I’m currently paying.

I use little electric and no gas with my current bill around £40pm. On the quotes my bill would be £160pm, I dread to think what “average” households will end up paying.
 

jpaul

jpaul

jpaul

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we can take a song from german playbook - levy exclusively on fixed rate accounts to moderate their usage.
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Boris's crass discourse on Ukraine spirit of Eurovision, and energy prices being a small price versus Ukraine blood - hint there will be excess deaths in the UK.
he remains true to himself until the end - stick a fork in him turn him over he's done (great lyric)
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further ofgen failure 18Aug https://www.ofgem.gov.uk/publicatio...rrangements-recovering-costs-supplier-failure
On 7 July 2022 we published an open letter launching a review of how the costs of supplier failure are recovered, and in particular whether this recovery takes place through standing charges or unit rates.

Following engagement, we have concluded that while some low consuming users, some of whom may be vulnerable, might benefit from change, there are a number of higher consuming users including vulnerable users that would pay more. We took the view that retaining the current methodology would protect users with greater energy needs, such as disabled users and users with electric heating in areas off the gas grid.

As a result, we will not be directing industry parties to make changes to the methodology.
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like, those vulnerable users couldn't be protected in other ways, ofgen just wants an easy life.
 

danlightbulb

danlightbulb

danlightbulb

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jpaul said:
further ofgen failure 18Aug https://www.ofgem.gov.uk/publicatio...rrangements-recovering-costs-supplier-failure
like, those vulnerable users couldn't be protected in other ways, ofgen just wants an easy life.
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Winners and losers in every scenario, there's no easy answer other than not to recover which is what I think should happen. Customer funds should be ringfenced in an energy retailer so if/when it goes bust those funds can be returned directly to customers and not lost in the administration to other creditors. But that solution is too sensible.
 

413x

413x

413x

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Haggisman said:
Not even next year, my relatively small £70k mortgage is already looking like it's going to increase by almost £100/month (meeting with an advisor tomorrow, so hopefully locking in a deal ASAP). Not a huge amount, granted, but on top of the £250 in energy and general food etc. going up, it's not fun. I dread to think how people with £2-300k+ mortgages are managing
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Yeah with my 200k mortgage I felt very exposed! Was quite the scare putting in the "what if" figures!
 

Rroff

Rroff

Rroff

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They've not directly ascribed it but looks like they are trying to pull the middle out of the night shift at work and otherwise tweak hours to condense the amount of time the building is operational so as to reduce electricity use. I'm wondering if/how long before we are told we can't boil a kettle at work, etc.
 

Gixer

Gixer

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Haggisman said:
Not even next year, my relatively small £70k mortgage is already looking like it's going to increase by almost £100/month (meeting with an advisor tomorrow, so hopefully locking in a deal ASAP). Not a huge amount, granted, but on top of the £250 in energy and general food etc. going up, it's not fun. I dread to think how people with £2-300k+ mortgages are managing
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I think I'm coming out of a 5 year fixed deal next year. I have a fair bit left on my mortgage, I'm going to guess around £130k. I'm glad I've been overpaying a bit, only £270 a month but it's at least been driving down the amount I'll be hit come the interest rate rise.
 

LabR@t

LabR@t

LabR@t

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We need to build lots of nuclear and power can become the same as phone contacts.

Fixed price for x amount in of units, then a lot more if you go over. Eventually when we have enough capacity all you can eat power at a fixed monthly cost
 
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