Cost of living: Energy price cap adjustments could be every three months under regulator’s shake-up plan | Business News
Cost of living: Energy price cap adjustments could be every three months under regulator’s shake-up plan | Business News
16 comments
Hardly a cap if it keeps changing
How many will die in winter because they cant afford heating?
> A more frequent price cap would reflect the most up to date and accurate energy prices and mean when prices fall from the current record highs, customers would see the benefit much sooner.
Interesting line to take when prices are shooting up and there’s no clear plan to bring them down by the time the change would kick in.
This is pretty transparently about protecting resellers by reducing the time and amount that caps could be below wholesale prices, reducing the likelihood of them going under like recently. That’s not to say it’s necessarily a bad thing if done in concert with other measures, but it ought to be sold in those terms rather than something primarily aimed at protecting the public.
When is a price cap not a price cap?
So no price cap then?
What’s the point in having a cap when you can change it every 3 months? That isn’t a cap, that’s a staircase.
So, basically, not a cap, then, just a reflection of current energy prices? Makes sense to me, it is the cap which seems to have exacerbated the current situation.
This doesn’t benefit the consumer. This whole thing is a fake crisis, we’re seeing Oil companies report record profits and this won’t go down unless governments start penalising the outright greed.
When boiling frogs it’s better to turn the dial on the hob gently and definitely don’t add already hot water.
Gentle reminder that fixed price tariffs are more expensive but will protect you from any more rises in the cap for as long as the tariff lasts.
Sure you’ll be told the downside is that if the unit price drops you’re stuck paying more but there’s 2 big points to consider:
a) the rule is prices rise like a rocket and fall like a feather.
b) it’s better to be stuck paying a £150 cancellation fee to get out of a higher fixed rate tariff and lower your bills if the price drops than stick with a variable tariff and potentially be out of pocket by another £1000 if they raise the price cap.
I didn’t think there was any sign of prices coming down in the next few years?
This is the trains allover again. The system has failed, the fact that this is being looked at as a shit fix shows clearly that it’s failed and they have no idea how to fix it. The system can not be fixed because consumer supply is a monopoly in all but call centre workers.
Keep generation privitised, increase national investment in nationalised generation facilities to atleast half of supply need. Nationalise fully supply and distribution – it’s a critical state asset and it’s already regulated to the point that the free market can’t work anyway because of that.
I don’t see how anything other than taxing the energy companies appropriately will solve the issue.
You can tell the little Etonian toffs playing games in London are too scared of the suits to make any meaningful change.
Good measure. Bad timing.
When was the last time the price of anytjing was actually cheaper than previous years with no promotion/offer attached to it.
The answer is never because prices can only ever increase in order for profits to remain higher year on year.
We the customers can never benefit.
Right as Bulb (still on life support) sent me a “We need to up your direct debit so you don’t get in debt” before adding £100 to my monthly direct debit. And I can’t reduce it back down due to their minimum price.
I’m in credit with them, fuck off.