Energy Prices (Strictly NO referrals!)

JamesH85 said:
Out of curiosity, those of you with EV's, how much is it to charge your vehicle now?

How much has it risen since you got your EV, I appreciate it's cheaper to charge overnight
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7.5p/kwh for 4 hr starting at 21:30. Fixed for a year a few weeks ago. Peek rate is 39.29.

It was 5p/kw for 4hr’s so not changed much.

I benefit from moving other high load operations to no peek time. Dishwasher, washing machine, tumbling and PC gaming.
 
JamesH85 said:
Out of curiosity, those of you with EV's, how much is it to charge your vehicle now?

How much has it risen since you got your EV, I appreciate it's cheaper to charge overnight
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I'd wager many/most are on tariffs like Octopus Go (or similar), so the rise has been from 5p per kWh to 7.5p per kWh.

Flip side of that though is higher day rates (though many will be on decent day rates compared to the cap because their fixed agreement hasn't run out yet). I'm paying 40p per kWh/7.5p per kWh. Total cost works out about the same as the current cap over a week, but I'm fixed through to next August. My previous tariff was Agile Octopus (at the old 35p cap) - pretty much the best fix on the market back in July. But Go is saving me ~£10 per week versus that tariff.
 
I went for octopus Intelligent as it's a 6 hour slot rather than 4 (and as an added bonus its fixed until next August. 38.82/7.5 so not too bad. I've been on it less than a month and I can't yet access the crystal ball mode (I assume due to not having a monthly bill on there).
 
A VAT cut doesn’t help business at all, business are not the end consumer as such they do not pay VAT. They just collect it on behalf of the government from their consumer.

Any VAT they suffer on their costs gets knocked off what they charge to their customer, if that’s negative, they get a refund.

It’s pretty shocking people don’t know this basic stuff.
 
crazyDAJT said:
Are you suggesting business will just keep the prices the same?
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Most almost certainly would, it’s what happened during covid when they cut VAT in the hospitality sector.

But that’s not the point, lowering taxes in naturally inflationary as it increases the amount of money in peoples pockets, this increases demand and therefore inflation.
 
Don't see the benefit of cutting VAT. The savings from the average general spend aren't enough to encourage consumer confidence as its still wiped out by the increase in bills.

The last VAT cut caused retailers havoc as well and prices rarely dropped by the same %.

The current government might be powerless but no reason why staff at the treasury couldn't have been working out strategies for the new PM. Shouldn't be a rushed panic to think of something.
 
b0rn2sk8 said:
A VAT cut doesn’t help business at all, business are not the end consumer as such they do not pay VAT. They just collect it on behalf of the government from their consumer.

Any VAT they suffer on their costs gets knocked off what they charge to their customer, if that’s negative, they get a refund.

It’s pretty shocking people don’t know this basic stuff.
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It depends on how it's implemented. The VAT reduction for hospitality during COVID benefited businesses because they could reclaim their input tax at standard rate but only had to charge customers a reduced rate.
 
200sols said:
Drop VAT on energy bills not across the board.
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Could actually result in businesses being worse off as they'd pay output VAT at relevant rates still, but have nothing or less to reclaim in input tax from rising energy bills. Bad for cashflow depending on the timing of their bills if the overall rise in energy costs doesn't put them out of business entirely. Help needs to be more targeted.

Consumers are already being protected (although obviously more help is needed), and large businesses will have hedged appropriately over the past year - it's SMEs facing annihiliation as their current contracts end.
 
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