Energy Suppliers

[Jono8]

The good news keeps coming.. Rate rise confirmed

200 pounds in October.. To be paid back, when bills might be even higher.

If Labour stick to this taxing the oil corps they are gonna landslide victory at next election

I think it is truly nuts to see Shell quadruple their profits whilst gas prices quadruple....and then we are all the suckers that pay for it.

So we are all likely paying directly for Shell Exec's to have a new yacht this year (or just add to the endless meaningless zeros in their bank accounts that they horde). The western economy is incredibly broken.

It wouldnt bother me so much if it was just luxury goods, but this is the energy that we need to survive/operate in society with and we are literally paying to make the rich even richer.

 

[Haggisman]

Energy prices going up by > 100%
Council tax going up by 3% (although at least the £150 will just about offset this)
Interest rates going up and mortgage fix ending in November

What a time to be alive! It's going to be a fun year

 

[Steedie]

Just had to fix for a year with Octopus, well I say I had too, the SVR was barely any cheaper than the 12 month fixed and that 12 month fixed has gone up a lot since I last looked at it 3 weeks ago. So rather than leave it any longer, I've just bitten the bullet and locked in. DD has gone from £75 to £152 a month but their usage figures for me are massively inflated because of issues with my smart meter, I'm currently a few hundred quid in credit so hopefully this new figure will just see that build up more and more

Thankfully I locked in my remortgage offer last month and accepted so I got away with that one

 

[Foghorn Leghorn]

Energy prices going up by > 100%
Council tax going up by 3% (although at least the £150 will just about offset this)
Interest rates going up and mortgage fix ending in November

What a time to be alive! It's going to be a fun year

Average household is set to be approximately £3k a year worse off this year. Third of that from gas/electric alone.

 

[Haggisman]

Average household is set to be approximately £3k a year worse off this year. Third of that from gas/electric alone.

Yup... be nice to get a payrise at some point

Oh yeah, there's the NI increase as well. Nice.

 

[Foghorn Leghorn]

I think it is truly nuts to see Shell quadruple their profits whilst gas prices quadruple....and then we are all the suckers that pay for it.

So we are all likely paying directly for Shell Exec's to have a new yacht this year (or just add to the endless meaningless zeros in their bank accounts that they horde). The western economy is incredibly broken.

It wouldnt bother me so much if it was just luxury goods, but this is the energy that we need to survive/operate in society with and we are literally paying to make the rich even richer.

Which is why utilities should never be privatised and we shouldn't be relying on other countries for our supply.

 

[Robi]

My fixed with Outfox runs out at the end of March and this is what they sent me yesterday:

(Gas projection seems way off as we're at around 12000)

The play at the moment is surely just to move onto a standard variable tariff? See what fixes come out (if any) and then wait for projections for a further rise in October?

We currently pay £76/m for gas + electric, 15.246p and 2.719p, so by the looks of it our bill will effectively double going onto a standard variable or around 3-4x if fixed.

 

[413x]

I think it is truly nuts to see Shell quadruple their profits whilst gas prices quadruple....and then we are all the suckers that pay for it.

So we are all likely paying directly for Shell Exec's to have a new yacht this year (or just add to the endless meaningless zeros in their bank accounts that they horde). The western economy is incredibly broken.

It wouldnt bother me so much if it was just luxury goods, but this is the energy that we need to survive/operate in society with and we are literally paying to make the rich even richer.

Exactly.
Games consoles and computer parts. Fine.
Gas and electricity? Nuts.

 

[Semple]

The good news keeps coming.. Rate rise confirmed

200 pounds in October.. To be paid back, when bills might be even higher.

If Labour stick to this taxing the oil corps they are gonna landslide victory at next election

It depends what else they target though. IIRC they were looking to bring the 40pc rate down significantly which would likely put anyone earning over 40k into the 40% tax bracket.

It'll definitely be interesting come election time, as people will be looking out for which party will do better for them financially. The biggest demographic is around the middle, so lowering the tax threshold or reducing personal allowance could alienate the middle earner demographic.

 

[413x]

It depends what else they target though. IIRC they were looking to bring the 40pc rate down significantly which would likely put anyone earning over 40k into the 40% tax bracket.

It'll definitely be interesting come election time, as people will be looking out for which party will do better for them financially. The biggest demographic is around the middle, so lowering the tax threshold or reducing personal allowance could alienate the middle earner demographic.

Yeah people will absolutely be voting with thier wallets.
Hopefully we get some solid figures and not wishy washy ambiguty.

Personally I'm looking to emigrate mid term as I don't see a way out of this decline. And I'd like to anyway.
Tax bands will be coming down as you say. We. (me and gf) fall very much in that bracket of squeezed Middle. Thank goodness we have no kids!

I see no other option but to tax more overall.
And myself, I'm absolutely a prime target. Right in the mid 40k bracket with mortgage I bet much need to keep down

This amount of extra burden on the middle is really going to hit the economy.
Our combined gross income falls into the 70-80k band. If we are now (for the first time) having to assess spending there's going to be so many more in much much worse position.

 

[Haggisman]

Yeah people will absolutely be voting with thier wallets.
Hopefully we get some solid figures and not wishy washy ambiguty.

Personally I'm looking to emigrate mid term as I don't see a way out of this decline.
Tax bands will be coming down as you say. We fall very much in that bracket of squeezed Middle.

I see no other option but to tax more overall.
And myself, I'm absolutely a prime target. Right in the mid 40k bracket with mortgage I bet much need to keep down

Likewise. I'm sure we will get solid figures. Which as always will be u-turned immediately following the election, screwing everyone over for the next 3.5 years before spending 6 months being all nicey-nicey to dupe people in with more false promises

Emigration is certainly looking a more appealing prospect every day

 

[Zenduri]

Im going to take some fire for this comment however...... all the people complaining about being in band E for council tax. Isnt it reasonable that since your assets are worth more and are therefore in a higher tax band , that you can afford to pay more and not get a rebate? I realise if you are renting this isnt always the case but if you own the property then its different?

 

[kindai]

Guess my solar/battery install will have paid for itself in 5-6 years.

Yes so glad now I spent the money on a much larger system.

fortunately....

Contract end date 7th January 2023

Leccy:
Day unit rate 15.75p per kWh
Night unit rate 9.62p per kWh
Standing charge 20.41p a day

Gas:
Unit rate 2.77p per kWh
Standing charge 24.79p a day

Hopefully I can ride out this craziness.

 

[413x]

Im going to take some fire for this comment however...... all the people complaining about being in band E for council tax. Isnt it reasonable that since your assets are worth more and are therefore in a higher tax band , that you can afford to pay more and not get a rebate? I realise if you are renting this is isnt the case but if you own the property then its different?

Yes it's somewhat fair. There will be many in high value low band who benefit. But mainly its not too bad. It's a token amount anyway.

The main concern is all of the things mounting up at exactly the same time.

Ni
Energy
CT
Base rate

And also knowing you're going to be raided to pay for the support for others. It's not these little one off things it's the next 5-10 years that is concerning.

You're looking at thousands of extra cost all happening at the same time.

 

[Haggisman]

You're forgetting that council tax bands were decided about 30 years ago by someone driving down the street and taking a quick glance at the property as they went past.

 

[Journey]

Yes so glad now I spent the money on a much larger system.

Did you uplift from 6kW to 16kW with batteries? I know that was a good few years ago IIRC.

 

[Semple]

Im going to take some fire for this comment however...... all the people complaining about being in band E for council tax. Isnt it reasonable that since your assets are worth more and are therefore in a higher tax band , that you can afford to pay more and not get a rebate? I realise if you are renting this isnt the case but if you own the property then its different?

I think in theory yes, but asset value doesn't always equal disposable income. A lot of people owning band E homes will have purchased early in the property boom. I know this has helped out massively in the area I live. Whilst most of people purchasing homes in the area are young professionals in decent paid jobs, there are a small proportion who purchased their homes 20-30 years ago who are practically on min wage jobs.

 

[Zenduri]

You're forgetting that council tax bands were decided about 30 years ago by someone driving down the street and taking a quick glance at the property as they went past.

But its reasonable to say if you were i the 120k band E in 1991 your house will be worth notably more than someone in 40k band A in 1991. Cheaper houses are cheaper for a reason.. ****** areas and locations, poor housing quality so cheaper bands make sense as less affluent people will live there

 

[Puzzled]

Im going to take some fire for this comment however...... all the people complaining about being in band E for council tax. Isnt it reasonable that since your assets are worth more and are therefore in a higher tax band , that you can afford to pay more and not get a rebate? I realise if you are renting this isnt always the case but if you own the property then its different?

In general yes but its not correct to assume that all those in a band E property can afford the increase, plenty of pensioners are in homes they could afford while working but are now struggling to keep up with rising living costs.

You might say they should sell their homes then but I think that is a pretty sad state of affairs really. I doubt many put the increases we are seeing now in their pension projections either.

 

[kindai]

Did you uplift from 6kW to 16kW with batteries? I know that was a good few years ago IIRC.

Went from a 4kw (no approval needed) to an 8kw (needed western power approval), would have gone for a 12kw if possibly but western wouldnt approve it without dropping 10k in their back pockets.

No batteries yet, though considering importing a flow battery and setting it up to charge on E7 rate in the night and then completely avoid any peak power consumption in the daytime.