Energy prices to soar again as Jeremy Hunt rejects pleas to halt rise — Millions will see costs mount by another 40% in April as rebate scheme ends and chancellor lets cap go up to £3,000
Energy prices to soar again as Jeremy Hunt rejects pleas to halt rise — Millions will see costs mount by another 40% in April as rebate scheme ends and chancellor lets cap go up to £3,000
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Excerpt:
>Chancellor Jeremy Hunt has rejected calls to prevent sharp rises in domestic energy bills for all households in his March budget – meaning millions of users will see costs soar by about 40% from April.
>Demands for the Treasury to halt a planned rise in the energy price guarantee (EPG) – the discounted cost of gas and electricity to consumers – from £2,500 to £3,000 a year for the average household in the March budget have been growing in recent weeks, particularly as the wholesale cost of energy has been falling.
>But Treasury insiders have told the *Observer* that the move is not under consideration, partly because Treasury receipts from its own windfall tax on energy companies have been less than expected, and because of worries about exposing taxpayers to future market risk.
>
>Ruling out the move, a Treasury source said: “While gas prices have fallen in recent months, they are still five times higher than the historical average, and can just as easily increase.
>“If the gas price spikes, the government will need to borrow billions of pounds more. While the energy price guarantee will continue to insulate millions of households from even higher wholesale gas prices, we need to reduce the taxpayer exposure to market volatility. Insulating every household – and on an open-ended basis – could have major implications for the public finances.”
>Officials said that at the time of the autumn statement last November, the Treasury’s own estimate for the proceeds of the windfall tax over five years was £55bn.
>But because of recent falls in energy prices, this total had fallen by £25bn, and was now anticipated to come in closer to £30bn.
Toby Helm and Phillip Inman, 5 Feb. 2023, the *Observer*.
How the fuck am i supposed to afford another raise?!
The poor energy companies, reeling from the pain of making record profits. They need protecting, in case they only make obscene levels of profit.
I mean this is beyond a joke. Record profits and falling wholesale costs and the cunts are still raising the costs.
Fucking parasites
Shell just made a £40 billion profit…much of it because of the price rises.
Windfall Tax them and save the people…we know they won’t though. Corruption.
The Treasury over estimated the revenue from the windfall tax so the government will not work out how to protect the UK energy consumers from that ?
Yet Shell still made more profit than expected (£32 and a bit Billion or somewhere NEAR that, near being a loose term when billions are being discussed)
So how is there not more windfall tax from their increased windfall profits ?
This is disgusting, they’re just shoveling public money to the energy companies under the cover of “supporting low income families”.
Wholesale prices are back to their pre war level, WE SHOULD BE LOWERING THE FUCKING CAP NOT RAISING IT AGAIN
Looters and chancers, syphoning our money off to their mates. These people are brazen and utterly despicable. Yet some complete mugs will still vote for these cunts.
He has no idea how this wrecks the economy. For instance I know someone who started a business last year, initially working from home, but as he was getting more customers he needed to rent the workshop for the company and hire people to help. Setting aside how ridiculously expensive renting is at the moment – with the energy uncertainty, he realised that he most likely would be giving away all his profits to energy companies, which means he wouldn’t be able to pay himself much if anything. So business has been shelved and he is now considering moving to the US.
Energy companies have record incomes and we are told everyday everywhere that the prices for the unit of gas and electricity is falling.
Yet prices still rise in this country?
It’s high time that all MPs are not allowed to have utility bills on their expenses, then we will see what it means
Tories are in bed with these energy companies,this smells like bribery oops I mean lobbying via holidays in Aix de provenance, £10,000 dinners copious Margot and Claret, the odd yacht, you know standard greasing the wheels etc. I thought Italy was bad but fuck me the UK is world beating at one thing, corruption!
I hate Tories but him a Jacob Reece mogg are two of the worst
Is this out of spite because we keep getting his name wrong?
And Sunak thinks he can lead the Tories to election victory. The voter hatred of the Tories grows with every passing day
I am just in disbelief at this point, about 50% of my wages go to taxes, vat and council tax and all I get in return is a broken health service and my bins collected and the other 50% taken by greed, the system is rigged.
Ah it’s okay, I didn’t need to eat anyway, it was a luxury to be able to afford both food and energy /s
This lot really do not have any shame, do they? They know people won’t kick off about it in any meaningful way so they can get away with it.
I really do believe that they want working class folk to just be working and not be doing anything else or be able to afford anything other than the bare bone basics. They want us plebs in our place so they can stay in theirs.
I’m so sick of this shit and the “it’s because of Russia” bullshit, it’s greed of cooperations and their refusal to lose any profit it baffles me why working class people make excuses for these greedy pricks.
The stuff going on with Russia has obviously not helped but if we’d had government who took green energy seriously or at least didn’t have vested interests in fossil fuels then we wouldn’t have been so reliant on Russian gas or these scum energy firms.
This last iteration of Tory government is much more cruel than previous ones even if the press and markets like them more, the £400 energy rebate actually really helped me with my energy bills, it’s going to be insane without it.
We need Labour government more than ever.
Man am I glad I sold up and left that sinking ship. Feel sorry for everyone there dealing with this shit.
And a regular reminder that there is NOT a £3,000 cap, there is a *rate cap* which *should* result in an average spend of £3,000. Your actual bill can, of course, be much higher (or lower).
I just received an email from energy supplier telling me prices have gone back to pre war levels, and according to them it’ll be 6 months before we see a price drop on the back of it from them.
To add insult to injury this happens?
Raising the cap AND scrapping the refund makes no logical sense at all other than adding a shock risk cost in a future market.
Cynically speaking is this intended just to financially and emotionally hobble the next few governments?
How the FUCK is this legal, considering the news recently about Shell’s profits?
Can we riot yet? This is getting beyond a fucking joke.
The goverment are walking all over us because we are doing nothing about it.
Rich get richer.
What a joke this country has become.
At what point does this stop? They are making billions in profit. How much higher? How many more dead?
Because the Tories in charge are also the Tories making money from the poverty trap this country has been turned into by the Tories. They are a bunch of evil kleptocrats and they should be erased from British politics.
God I hate this country at this point, this government is vile
This is so fucked. How people will be affording this on poverty wages.
Why the fuck do we pay so much tax on top of tax on top of tax everywhere we turn and still not have a well functioning NHS, nationalised critical services and my bins collected once every fucking blue moon. Tory cunts.
Never. Vote. Conservative.
Yet still we Brits sit there and accept more fraud more corruption more unjust on the average person. We need to take note of how the French accept such behaviour from their government. GROW SOME BALLS Brits. Remove the government. Enough with the corruption CALL A GENERAL ELECTION
People seem to be talking about fuel suppliers and energy suppliers synonymously, but I think a distinction needs to be made. Energy suppliers, like Octopus, sell us, the consumers, energy to our homes. They buy their fuel from fuel suppliers like Shell. Energy suppliers are going bust, fuel suppliers are posting record profits.
Price caps are about the consumer/energy supplier relationship. As far as I can tell nothing is being done about the energy supplier/fuel supplier relationship.
I feel like this is intentional misdirection and obfuscation.
WE NEED TO PROTEST THESE CUNTS, HASSLE THEM LIKE THE FRENCH DO.
Bunch of cunts running this country every single one of them is a self serving thief of the people . Show every single one the rope for crimes against humanity .