This is getting ridiculous (energy prices - Strictly NO referrals!)

[chrcoluk]

I turned down the brightness to its lowest

The design of my IHD is so bad.

Basically when the screen is deemed active, the brightness setting actually doesnt do anything, its always full brightness.

Its idle mode will them dim the screen and it takes a while to do this as well, which is what the brightness setting adjusts. It actually never turns off the screen based on idle usage, it will stay on until the battery is dead or forever if plugged into mains.

Whoever designed these was a bit of a muppet in power management.

 

[touch]

You'd hope this will come off energy bills right? Not cash in the bank!

It makes no difference. If you've suddenly got £400 more in your energy account then you can pay £400 less into it over the next few months and use that money for whatever else you want.

Or, more likely, reduce your monthly payment by £33 (the £400 split over 12 months).

 

[413x]

It makes no difference. If you've suddenly got £400 more in your energy account then you can pay £400 less into it over the next few months and use that money for whatever else you want.

Not sure. Many might not really see it as cash if it's not in thier current accounts.

Better if it came in at 100 a month or something over 4 months.

 

[chrcoluk]

So support for pensioners, low income households and those on disability benefits?

Is that it?

I seen the bbc have mentioned a vague "additional support for those on low income"

The tories with their ideology are not going to specifically target the poorest, because the poorest are people who dont work. We might see some targeted support for pensioners.

Many unemployed disabled people up until this announcement only had a net £10 of help, so previously £140 WHD, however starting from this year many disabled people will lose WHD (due to the high energy use requirement) so turns into a net minus £140, but then £150 via council tax relief changes it to a net £10. I think that tells you what this government thinks of disabled people.

 

[Surveyor]

For those who have been tracking prices, has wholesale cost really risen 50% since April? every graph I have looked at doesnt indicate that, this new cap (alongside the quarterly updates to cap), seems done in mind in keeping the energy companies happy, ofgem seems in industry protection mode right now. I expect the companies have been lobbying ofgem day and night that the SVR makes their fixed rate deals look bad so they want an inflated cap. Or is it the case that the cap is loss making and there is a correction factored in to the rise. I am not convinced by this when you consider Octopus Agile.

You're looking at the wrong data. The 1 April price cap is based on wholesale prices up to the end of January/beginning of February. The October price cap will be based on wholesale prices from the beginning of February to the end of August.

 

[Freakbro]

It makes no difference. If you've suddenly got £400 more in your energy account then you can pay £400 less into it over the next few months and use that money for whatever else you want.

Or, more likely, reduce your monthly payment by £33 (the £400 split over 12 months).

It's going straight into their bank account

https://twitter.com/i/web/status/1529787197800558595

Free fags and booze all round, more partying on the cards thanks to the Tories!

 

[McPhee]

Variable DD seems like a disaster waiting to happen for anyone who doesn't have a substantial income. It's just pushing back the rise in monthly outgoings to later in the year; keep your relatively low ~£100 DD now, but pay £300-£400/month come winter...

 

[Puzzled]

Should be more targeted really, a lot of wealthy people are going to receive that £400 and not even notice. Maybe the admin costs of targeted action just outweighs the benefits, I believe it was difficulty of setting up the loan system that helped persuade them to drop it.

Hopefully people will use the benefits lump sum wisely but then I bet many will use it to pay off existing debts let alone keep it for the winter ahead.

 

[chrcoluk]

The question I have on this, even with the £400 being given, is should people still fix if they have a deal available that is no more than 30% more than the SVR? SVR is looking to be around £2800 as of Oct and remain around that until April 23. Deals are coming up until July 23, for existing customers, at around £2100 which is around 25% cheaper.

Right now not sure as still 5 months left until the next increase, but come October the metrics change, SVR will only be fixed for 3 months instead of 6 which will make fixed deals more enticing.

Its predicted to rise by a fair amount so a 30% 12 month deal now will cover a bigger rise in October, plus a rise in December, and then two months of the April rise. You overpay for 4 months before October.

I would check the individual gas/electric numbers and work out for your usage it wouldnt surprise me if gas rise is bigger than electric, but at first glance thats an ok deal to me.

 

[chrcoluk]

You're looking at the wrong data. The 1 April price cap is based on wholesale prices up to the end of January/beginning of February. The October price cap will be based on wholesale prices from the beginning of February to the end of August.

Right, so there is a problem of lag here, why do Ofgem set the new caps several months before? Thanks.

 

[chrcoluk]

It's going straight into their bank account

https://twitter.com/i/web/status/1529787197800558595

Free fags and booze all round, more partying on the cards thanks to the Tories!

I think its disrespectful to claim everyone will waste it away.

However I agree this should be a credit on the bill not placed in a bank account.

 

[413x]

It's going straight into their bank account

https://twitter.com/i/web/status/1529787197800558595

Free fags and booze all round, more partying on the cards thanks to the Tories!

I wouldn't be surprised if klarna are licking thier lips.
Free guaranteed money in a few months? Buy now pay later here I come.


Think. I'll use half for some much needed garden furniture and half for mortgage over pay

 

[touch]

It's going straight into their bank account

Ah, my mistake, I thought I was replying to a post about the £400 universal grant.

I still dont think it makes much difference how the money is delivered though. If it was paid directly onto your energy bill then you'd still have the cash you normally pay the bill with freed up for the fags and booze. Maybe it would be spread over a slightly longer period than a £650 lump sum payment though.

 

[the shadow]

Right, so there is a problem of lag here, why do Ofgem set the new caps several months before? Thanks.

What is the Energy Price Cap?

Discover more about the energy price cap, brought in by the regulator Ofgem, with this in-depth guide from Martin Lewis's MoneySavingExpert

www.moneysavingexpert.com

 

[beachBOYken]

Since getting a smart meter and being able to read the usage on the IHD, I realise now just how much certain things use, I was averaging 0.10p , around 260w, boiled the kettle and it jumped to 3kw and £1.28ph. Now I realise why my usage went up so much using the electric shower.

 

[chrcoluk]

Yeah electric showers consume electric like an athlete consumes water in 30C heat.

 

[413x]

Since getting a smart meter and being able to read the usage on the IHD, I realise now just how much certain things use, I was averaging 0.10p , around 260w, boiled the kettle and it jumped to 3kw and £1.28ph. Now I realise why my usage went up so much using the electric shower.

I was shocked a bit by my electric shower.
I know it's expensive. I know it's 10kw.
But when you see it in the smart meter it does make you think.

 

[Haggisman]

It should be applied as bill credit to stop people splurging.

Is it not? I was under the impression that was what was happening?

Was bound to happen.
Don't think they have any other option

I feel its quite a lot. And still quite blunt. I certainly don't need 400 as my electric rates are quite low. But I guess no system is perfect for this stuff.

as @Jono8 has suggested, the admin of means testing everyone and excluding those who don't strictly need it would probably cost more than just giving it to everyone, particularly given our government's track record for efficiency...

 

[SDK^]

Please forget about party gate ..here's a gift

Meh - stop complaining, you'll still take it, from the people you were putting down.

 

[200sols]

Is it not? I was under the impression that was what was happening?

It is for the energy part, but low incomes also getting £650 in cash.