>**As many as four in 10 people in Britain** could fall into fuel poverty when the price cap rises again this autumn, energy bosses have told MPs as they called for more government support for vulnerable households **facing a “truly horrific” winter.**
It is the Tory way.
Will they dither longer or figure out how not to let 40% of their population die from the cold? Time will tell, even if they do not.
Is fuel poverty not defined as fuel costs being 10% of income?
As fuel has trebled or by October even quadrupled this seems an obvious outcome!
Serious risk of civil unrest. Time to bump the pay of our officers to man the barricades. Let’s take proactive action against lawless thugs.
Given that the conflict in Russia shows little chance of resolving soon, and it takes years to build new power plants, my prediction is we’ll see further increases for the next couple of years, and sustained high prices for five years.
Given that, I think it’s an exremely poor idea to essentially be giving consumers Wonga loans to cover their bills over the next few months. What happens when the repayments coincice with further price increases?
We’re in for a long, hard slog with energy prices, and taking on debt now will backfire.
Energy companies like EDF shipping their profits out to states like France at the expense of the British consumer.
That’s the free market for you. We get subsidise other states.
I hear Rwanda is fairly warm during our winter months.
My old flat had storage heaters which didn’t work and the whole place was an ice box. It’s intense how cold really debilitates motivation, productivity and mood.
Going to cripple so many peoples mental health and quality of life. Plus, with more people WFH – probable job performance decline.
Eyes out for sales to get extra winter clothes now whilst out-of season.
New tory plan: move back to Fahrenheit. it’s a balmy 32 now, not zero. Double tory hit as they can say they are taking back control from the EU.
I just don’t understand why the Tories refuse to help. Are they all sociopaths? And I say socio, cause they clearly know what they’re doing is immoral and against the grain. The IMF is literally telling them that offering proper financial help will help the economy not fall apart even more and they just ignore this advice. I think the UK is going to not be a superpower within the next 20 years if conservatives remain in power. It’s really just a shame to see what once was a world leading country fall back towards its dark past.
It’s why the government are doing their best to ignore the COP26 agreements. It is all to reduce the risk of a horrific winter and reduce the risk of fuel poverty for millions.
Given that their last idea to help people with fuel bills was a loan, I think it is safe to say that the government are not going to be putting a lot of effort into solving this problem. They might do something that makes it look like they have a good plan, however they also have months for that plan to fall apart and to amount to nothing.
This is just project fear.
It would be worse under labour.
The government are doing their best.
It’s immigrants’ fault.
People just need to budget better.
At what point do people look at the shit they come out with to defend this government and realise they’ve been conned?
Energy is problematic as its the one major area with a price cap on an international commodity.
Ultimately companies aren’t going to ship gas/oil/etc into the UK unless the price is competitive with every other country, so the government’s choice is to increase the cap or subsidise energy costs.
They may have to increase by more than predicted because the most recent price rises were somewhat muted by energy companies holding hedges, i.e if an energy supplier locked in buying gas before prices tripled at a given price for a year or two, they can survive even with a capped price below current wholesale prices, but once those hedges run out even the bigger companies will go bankrupt if they are forced to buy and sell at a loss.
Basically we had a first wave of energy companies who didn’t hedge going bankrupt, then we will get a second wave of energy companies whose hedges are running out going bankrupt unless the cap goes up substantially or the government start introducing tens of billions of pounds of subsidies.
Its also worth noting hedging too much can also make a company go bankrupt, if prices decline, as that company could be locked into paying an above market price for 5-10 years, but its customers are free to leave and get energy from a company who didn’t hedge and can offer a lower price, then the company is left with gas it has to sell back onto the spot market at a loss or to customers at a loss.
Hasn’t Rishi given us all a £250 loan, whats everyone complaining about *
*sarcasm
Covid didnt kill enough old and poor so have to do something else
Were in this for the long haul 2- 5 years. The current cap is based on £2 a therm. This winters energy contracts are priceing in at rough average of £2.5 a therm and on an upward trend and with wild fluctuations (£2.3 – £3.7).
Going forward even further winter 2024 contracts are at £1.4 and marching skywards (100% increase in last 3 months).
Does that mean that a higher percentage of people will fall into fuel poverty then vote for the Tory party?
Lot of meters gonna get bypassed is my guess… Much like that episode of still game
They fear nothing, they are licking their lips at the projected profit margins.
They will sell the accounts to debt collectors once people can’t pay their bills. They couldn’t care less.
Capitalism operates to make money…not care or serve the people who need it.
The chance for sensible regulations has gone and now people will suffer.
If places like this sub had stopped telling people not to get a fixed rate for the last 6 months then people might not have to worry about the price rise in the autumn. Foolish thing to do with the war in Ukraine starting
That sort of thing usually results in a change of government.
Is the before or after these big companies post triple increase in profits, what these companies could do is introduce fixed cheaper tariffs for poorer families so I would say these companies can do extra things and the government could also though
>Winter is months away, we’ll put together a strategy once it is too late to make a difference and people are already fucked, like we do for every other foreseeable problem
– official policy
Don’t worry.
The ass-lickers will find a way to blame Labour when the time comes.
Having been keeping an eye on wholesale gas market prices. US Natural Gas and UK Gas, there does seem to be some relief in the prices.
North Sea gas fields are currently down for seasonal maintenance and Norwegian exports have started to come back online.
There could be potential for the October price cap to not be as horrendous as anticipated. However, expect the worst and hope for the best! Does seem like a windfall tax of some sort could be introduced to ease the pain this winter for those in homes under council tax bands A-D?
25 comments
>**As many as four in 10 people in Britain** could fall into fuel poverty when the price cap rises again this autumn, energy bosses have told MPs as they called for more government support for vulnerable households **facing a “truly horrific” winter.**
It is the Tory way.
Will they dither longer or figure out how not to let 40% of their population die from the cold? Time will tell, even if they do not.
Is fuel poverty not defined as fuel costs being 10% of income?
As fuel has trebled or by October even quadrupled this seems an obvious outcome!
Serious risk of civil unrest. Time to bump the pay of our officers to man the barricades. Let’s take proactive action against lawless thugs.
Given that the conflict in Russia shows little chance of resolving soon, and it takes years to build new power plants, my prediction is we’ll see further increases for the next couple of years, and sustained high prices for five years.
Given that, I think it’s an exremely poor idea to essentially be giving consumers Wonga loans to cover their bills over the next few months. What happens when the repayments coincice with further price increases?
We’re in for a long, hard slog with energy prices, and taking on debt now will backfire.
Energy companies like EDF shipping their profits out to states like France at the expense of the British consumer.
That’s the free market for you. We get subsidise other states.
I hear Rwanda is fairly warm during our winter months.
My old flat had storage heaters which didn’t work and the whole place was an ice box. It’s intense how cold really debilitates motivation, productivity and mood.
Going to cripple so many peoples mental health and quality of life. Plus, with more people WFH – probable job performance decline.
Eyes out for sales to get extra winter clothes now whilst out-of season.
New tory plan: move back to Fahrenheit. it’s a balmy 32 now, not zero. Double tory hit as they can say they are taking back control from the EU.
I just don’t understand why the Tories refuse to help. Are they all sociopaths? And I say socio, cause they clearly know what they’re doing is immoral and against the grain. The IMF is literally telling them that offering proper financial help will help the economy not fall apart even more and they just ignore this advice. I think the UK is going to not be a superpower within the next 20 years if conservatives remain in power. It’s really just a shame to see what once was a world leading country fall back towards its dark past.
It’s why the government are doing their best to ignore the COP26 agreements. It is all to reduce the risk of a horrific winter and reduce the risk of fuel poverty for millions.
Given that their last idea to help people with fuel bills was a loan, I think it is safe to say that the government are not going to be putting a lot of effort into solving this problem. They might do something that makes it look like they have a good plan, however they also have months for that plan to fall apart and to amount to nothing.
This is just project fear.
It would be worse under labour.
The government are doing their best.
It’s immigrants’ fault.
People just need to budget better.
At what point do people look at the shit they come out with to defend this government and realise they’ve been conned?
Energy is problematic as its the one major area with a price cap on an international commodity.
Ultimately companies aren’t going to ship gas/oil/etc into the UK unless the price is competitive with every other country, so the government’s choice is to increase the cap or subsidise energy costs.
They may have to increase by more than predicted because the most recent price rises were somewhat muted by energy companies holding hedges, i.e if an energy supplier locked in buying gas before prices tripled at a given price for a year or two, they can survive even with a capped price below current wholesale prices, but once those hedges run out even the bigger companies will go bankrupt if they are forced to buy and sell at a loss.
Basically we had a first wave of energy companies who didn’t hedge going bankrupt, then we will get a second wave of energy companies whose hedges are running out going bankrupt unless the cap goes up substantially or the government start introducing tens of billions of pounds of subsidies.
Its also worth noting hedging too much can also make a company go bankrupt, if prices decline, as that company could be locked into paying an above market price for 5-10 years, but its customers are free to leave and get energy from a company who didn’t hedge and can offer a lower price, then the company is left with gas it has to sell back onto the spot market at a loss or to customers at a loss.
Hasn’t Rishi given us all a £250 loan, whats everyone complaining about *
*sarcasm
Covid didnt kill enough old and poor so have to do something else
Were in this for the long haul 2- 5 years. The current cap is based on £2 a therm. This winters energy contracts are priceing in at rough average of £2.5 a therm and on an upward trend and with wild fluctuations (£2.3 – £3.7).
Going forward even further winter 2024 contracts are at £1.4 and marching skywards (100% increase in last 3 months).
Does that mean that a higher percentage of people will fall into fuel poverty then vote for the Tory party?
Lot of meters gonna get bypassed is my guess… Much like that episode of still game
They fear nothing, they are licking their lips at the projected profit margins.
They will sell the accounts to debt collectors once people can’t pay their bills. They couldn’t care less.
Capitalism operates to make money…not care or serve the people who need it.
The chance for sensible regulations has gone and now people will suffer.
If places like this sub had stopped telling people not to get a fixed rate for the last 6 months then people might not have to worry about the price rise in the autumn. Foolish thing to do with the war in Ukraine starting
That sort of thing usually results in a change of government.
Is the before or after these big companies post triple increase in profits, what these companies could do is introduce fixed cheaper tariffs for poorer families so I would say these companies can do extra things and the government could also though
>Winter is months away, we’ll put together a strategy once it is too late to make a difference and people are already fucked, like we do for every other foreseeable problem
– official policy
Don’t worry.
The ass-lickers will find a way to blame Labour when the time comes.
Having been keeping an eye on wholesale gas market prices. US Natural Gas and UK Gas, there does seem to be some relief in the prices.
North Sea gas fields are currently down for seasonal maintenance and Norwegian exports have started to come back online.
There could be potential for the October price cap to not be as horrendous as anticipated. However, expect the worst and hope for the best! Does seem like a windfall tax of some sort could be introduced to ease the pain this winter for those in homes under council tax bands A-D?