Energy Prices (Strictly NO referrals!)

SDK^ · 8 Sep 2022 at 13:01

rG-tom said:
Surely if there is a cap that is ultimately paid for by tax payers, then the "rich" (or what you perceive to be rich ie 40/45% tax payers) will be paying disproportionately more back for it ? So actually your goal of the "rich" supporting the poor is actually happening?

I'm interested in how this energy cap subsidy will be paid back?

- Through increased income taxes?
- An increased energy Standing Charge?
- An increased energy kWh unit cost?

Having installed solar panels to avoid higher energy costs, i'm hoping it's added to the unit cost. [People with solar use less]. I really don't want to be paying more back on income tax or SC, to recover the use of other people's energy.

413x · 8 Sep 2022 at 13:04

Edit. I've just read someone earning 100k could benefit by 6k with the new tax rules!

That's horrendous when the country is falling apart. And inflation is rampant

Ahleckz · 8 Sep 2022 at 13:05

SDK^ said:
I'm interested in how this energy cap subsidy will be paid back?

- Through increased income taxes?
- An increased energy Standing Charge?
- An increased energy kWh unit cost?

Having installed solar panels to avoid higher energy costs, i'm hoping it's added to the unit cost. [People with solar use less]. I really don't want to be paying more back on income tax or SC, to recover the use of other people's energy.

Almost definitely standing charge. Can’t be making those who use more pay proportionally more! They’d only be able to heat their swimming pools to 25c, not 30!

413x · 8 Sep 2022 at 13:07

Labour have so much ammunition. But this "gift" to the people may well hoodwink a large proportion of the country.

Maybe large enough

Siliconslave · 8 Sep 2022 at 13:08

413x said:
Edit. I've just read someone earning 100k could benefit by 6k with the new tax rules!

That's horrendous when the country is falling apart. And inflation is rampant

Have these been announced then?

SDK^ said:
I'm interested in how this energy cap subsidy will be paid back?

it sounds like its a loan from the government to cover the difference between the cap and the rate they want to set, the loan (may) will need to be paid back and that'll most likely be done by putting the bills up later down the line when wholesale isn't so expensive...

McBain · 8 Sep 2022 at 13:09

413x said:
Edit. I've just read someone earning 100k could benefit by 6k with the new tax rules!

That's horrendous when the country is falling apart. And inflation is rampant

Which new tax rules are these?

Siliconslave · 8 Sep 2022 at 13:09

413x said:
Labour have so much ammunition. But this "gift" to the people may well hoodwink a large proportion of the country.

Maybe large enough

but if/when they get in they are going to have to fix all the mess the tories made...

413x · 8 Sep 2022 at 13:11

McBain said:
Which new tax rules are these?

Proposed.
Raising the 40pc bar to 80k.

Not sure if proposed in this case is in any way accurate. But I know she's keen to help out the higher earners

Minusorange · 8 Sep 2022 at 13:18

413x said:
Labour have so much ammunition. But this "gift" to the people may well hoodwink a large proportion of the country.

Maybe large enough

I don't think it will as a large proportion of the country were struggling months ago, they're still going to struggle even with the "gift", the "gift" only really helps those in top 30% of earners really, it's going to be a struggle for any household earning at or less than the average wage

Azza · 8 Sep 2022 at 13:18

I'm not surprised they haven't published the unit and standing charge rate yet.

robgmun · 8 Sep 2022 at 13:18

Haggisman said:
To be fair, it is frozen well below the £3.5k it was due to hit in 3 weeks time. Yes it's still significantly higher than this time last year, but the lower the cap, the longer (& more) we end up having to pay back

I think people need to get over the fact that £1200 yearly bills are gone for many many years, possibly never to return to that level again, no matter who's in power.

SDK^ · 8 Sep 2022 at 13:19

Siliconslave said:
it sounds like its a loan from the government to cover the difference between the cap and the rate they want to set, the loan (may) will need to be paid back and that'll most likely be done by putting the bills up later down the line when wholesale isn't so expensive...

Yep - it's the 'how' putting bills up will work that i'm interested to know.

Chuk_Chuk · 8 Sep 2022 at 13:20

413x said:
Proposed.
Raising the 40pc bar to 80k.

Not sure if proposed in this case is in any way accurate. But I know she's keen to help out the higher earners

Surely the main people who benefit are those earning between 50K and 80K

robgmun · 8 Sep 2022 at 13:20

scarps said:
The £400 was supposed to help at these current rates, not the October rates, well that's what they made out.

I never had that impression, i thought because it was kicking in at Oct it was to help with the Oct rates

robgmun · 8 Sep 2022 at 13:21

413x said:
Ugh fracking in, green levies out.
So progressive

it's that or people starve, they got their priorities straight at least

SDK^ · 8 Sep 2022 at 13:22

robgmun said:
I never had that impression, i thought because it was kicking in at Oct it was to help with the Oct rates

The £400, plus other help for elderly etc.. was for the April 2022 increase

gort · 8 Sep 2022 at 13:22

robgmun said:
I never had that impression, i thought because it was kicking in at Oct it was to help with the Oct rates

Yes, was to soften the blow of the October rise.

robgmun · 8 Sep 2022 at 13:26

SDK^ said:
The £400, plus other help for elderly etc.. was for the April 2022 increase

No, they announced it back then, they always said it was for Oct, even when it was only a £200 'loan'

Haggisman · 8 Sep 2022 at 13:26

SDK^ said:
The £400, plus other help for elderly etc.. was for the April 2022 increase

Then why is it only being paid from October?

Azza · 8 Sep 2022 at 13:28

Fracking will save us.

How much shale gas is there in the UK and what is the status of fracking? - Grantham Research Institute on climate change and the environment

This explainer outlines the current and historical status of fracking in the UK, the arguments for and against it, and the UK's reserves of shale gas.

www.lse.ac.uk

Much interest and concern has been expressed about the potential for shale gas production in the UK, particularly because the country’s production of natural gas from conventional reserves no longer meets domestic demand (typically 70–80 billion cubic metres per year).

A review published in March 2020 by Warwick Business School of a range of ‘resource estimates’ and production forecasts produced by the industry organisation UK Onshore Oil and Gas calculated that UK fracking might produce between 90 and 330 billion cubic metres (bcm) of natural gas between 2020 and 2050.

But of course as the Chancellor said Cuadrilla etc won't be selling that to the UK below market rate.

https://twitter.com/x/status/1498197287469789190