I locked into a 2 year contract in September which is priced +4.8% more than the current capped electricity prices and +22.2% higher than the current capped gas prices. I’ve been mulling over whether to cancel (no exit fee) to get the cheapest capped rates over winter or endure the higher prices for potential longer term gains. It’s a gamble I could lose if prices fall next year. The article implies that these elevated prices are permanent. I guess it’s worth sticking with what I’ve currently got?
EDF literally just tried to double our monthly direct debit. ( we were moved to them from another energy company who went bust )
I always said I’d never use EDF again after an awful customer service episode back in 2000 but here I was again on the phone getting nowhere and driving myself up the wall talking to these muppets.
Anyway, after countless rants and calls ( it’s a long story that went on for over a week ) I finally managed to speak to someone in the UK and get the DD down to 2/3rds of what they originally wanted. Then after all that they still took a large unauthorised chunk of money out of my account. Grrr!!
Gawd help those on a payment meter with this bollocks.
Fuel poverty is already a massive issue, this is going to both drag more people into it and make it unbearable for those already in it. The one advantage those people have is that this will affect middle class voters enough that the government might actually step in and help everyone out.
And if the government intervenes then its what 100% increase? i thought we paid for wind farms… wtf I THOUGHT WE WERE GREEN NOW
Energy is traded globally as a commodity. Countries such as Russian, India, China South America have large increasing middle classes that consume the same fuel we use, so the highest bidder wins for what is a finite commodity. That’s all fine if you have the buying power of say the EU or those large growing countries, but the UK is a small insignificant island in the north Atlantic, so what chance does the UK have of driving down fuel pricing? None. This was one of the many reasons for being a member of the EU. Now we are not. Well have to trade alone. Think of it like owning a shop and a customer wants to buy all of your magazines and newspapers every week but wants a discount (EU). Then one customer wants to buy one copy of The Daily Mail, every month but also wants a discount (UK).
We’re going to get dicked then. It’s going to cost the equivalent of a month’s rent for a family home – my mate’s paying £250 a month already. Add councik tax, it’s £700 just on energy and council tax. That’s unaffordable for a hell of a lot of people.
This is a sign that COP26 is working as intended. This is great news for the environment.
Finally the public will reduce their energy usage.
Translation: Trade association funded by energy companies says prices will soar 50% unless their taxes are cut.
Fuck me, i just finished settling a debt after orbit energy decided that i owed them £1000+ last year. Just in time before they went bust.
Now my bills still gonna go up???
Im gonna buy a regular water pump, and build a “oven” on my garden to heat my house
It’s a good job we’re not all about to be hit with a massive national insurance tax hike around the same time then! Oh wait…
Although the collateralized debt obligations were key to it being as bad as it was, the financial crash of 2007-8 was partly triggered by an energy and food crisis.
The peak of production for conventional oil + a weird set of circumstances around food caused the soaring energy and food prices – and the interest rate rises that were in response to these inflationary pressures – that pushed the ‘risky’ borrowers over the edge. Without those crises, those people would’ve still been able to pay their mortgages.
Luckily, we haven’t repeated the lending to risky borrowers with any other assets, e.g. vast numbers of leased high end cars, or anything like that, otherwise this upcoming recession could be *equally* devastating!
The government will do fuck all.
Meanwhile I’m sat here freezing my tits off because as a civil servant my pay has been frozen for the last 10 years.
Energy prices should go up. They should protect the poorer with increases to UC, the minimum wage, means tested winter fuel allowance, and maybe cuts to either VAT or the basic rate of income tax. Instead they probably will directly subsidise energy consumption.
Biggest decline in living standards for decades incoming…
We have inflation hitting 6%, NI tax rises, and energy bills increasing by 50%… and I can bet you my car that the vast majority of people won’t be getting wage increases greater than 1 or 2%, if at all.
Going to be a big squeeze on working and middle classes.
What the fuck do we have to look forward to in Tory Britain??
Time to reopen the coal pits and fracking sites, get the oil fields going again. This is an emergency.
Didn’t they just intervene to get rid of the cheapest tariffs? What next?
TBF Europe has fucked itself by going with Russia for its energy.
Higher energy prices are undeniably bad but it can make renewables more profitable investment. What matters is that the poor can get enough heat for the winter. That means stop discriminating against temporary payment options ie energy keys. Also, dont overcharge people for going into deficit in bank accounts.
My monthly bill already went from £50 to £100. Was with bulb, fuck knows who I’m with now.
I’m not really sure what government “intervention” they’re hoping for. Are they literally expecting the government to hand over vast sums of money to the provider companies to subsidise lower prices? What happened to competition being a good thing that gives the consumer a better deal?
What the government should be doing is investing more (including the extra VAT it’s going to get from these price increases) in non-fossil energy sources so we can reduce our dependency on foreign gas.
19 comments
I locked into a 2 year contract in September which is priced +4.8% more than the current capped electricity prices and +22.2% higher than the current capped gas prices. I’ve been mulling over whether to cancel (no exit fee) to get the cheapest capped rates over winter or endure the higher prices for potential longer term gains. It’s a gamble I could lose if prices fall next year. The article implies that these elevated prices are permanent. I guess it’s worth sticking with what I’ve currently got?
EDF literally just tried to double our monthly direct debit. ( we were moved to them from another energy company who went bust )
I always said I’d never use EDF again after an awful customer service episode back in 2000 but here I was again on the phone getting nowhere and driving myself up the wall talking to these muppets.
Anyway, after countless rants and calls ( it’s a long story that went on for over a week ) I finally managed to speak to someone in the UK and get the DD down to 2/3rds of what they originally wanted. Then after all that they still took a large unauthorised chunk of money out of my account. Grrr!!
Gawd help those on a payment meter with this bollocks.
Fuel poverty is already a massive issue, this is going to both drag more people into it and make it unbearable for those already in it. The one advantage those people have is that this will affect middle class voters enough that the government might actually step in and help everyone out.
And if the government intervenes then its what 100% increase? i thought we paid for wind farms… wtf I THOUGHT WE WERE GREEN NOW
Energy is traded globally as a commodity. Countries such as Russian, India, China South America have large increasing middle classes that consume the same fuel we use, so the highest bidder wins for what is a finite commodity. That’s all fine if you have the buying power of say the EU or those large growing countries, but the UK is a small insignificant island in the north Atlantic, so what chance does the UK have of driving down fuel pricing? None. This was one of the many reasons for being a member of the EU. Now we are not. Well have to trade alone. Think of it like owning a shop and a customer wants to buy all of your magazines and newspapers every week but wants a discount (EU). Then one customer wants to buy one copy of The Daily Mail, every month but also wants a discount (UK).
We’re going to get dicked then. It’s going to cost the equivalent of a month’s rent for a family home – my mate’s paying £250 a month already. Add councik tax, it’s £700 just on energy and council tax. That’s unaffordable for a hell of a lot of people.
This is a sign that COP26 is working as intended. This is great news for the environment.
Finally the public will reduce their energy usage.
Translation: Trade association funded by energy companies says prices will soar 50% unless their taxes are cut.
Fuck me, i just finished settling a debt after orbit energy decided that i owed them £1000+ last year. Just in time before they went bust.
Now my bills still gonna go up???
Im gonna buy a regular water pump, and build a “oven” on my garden to heat my house
It’s a good job we’re not all about to be hit with a massive national insurance tax hike around the same time then! Oh wait…
Although the collateralized debt obligations were key to it being as bad as it was, the financial crash of 2007-8 was partly triggered by an energy and food crisis.
The peak of production for conventional oil + a weird set of circumstances around food caused the soaring energy and food prices – and the interest rate rises that were in response to these inflationary pressures – that pushed the ‘risky’ borrowers over the edge. Without those crises, those people would’ve still been able to pay their mortgages.
Luckily, we haven’t repeated the lending to risky borrowers with any other assets, e.g. vast numbers of leased high end cars, or anything like that, otherwise this upcoming recession could be *equally* devastating!
The government will do fuck all.
Meanwhile I’m sat here freezing my tits off because as a civil servant my pay has been frozen for the last 10 years.
Energy prices should go up. They should protect the poorer with increases to UC, the minimum wage, means tested winter fuel allowance, and maybe cuts to either VAT or the basic rate of income tax. Instead they probably will directly subsidise energy consumption.
Biggest decline in living standards for decades incoming…
We have inflation hitting 6%, NI tax rises, and energy bills increasing by 50%… and I can bet you my car that the vast majority of people won’t be getting wage increases greater than 1 or 2%, if at all.
Going to be a big squeeze on working and middle classes.
What the fuck do we have to look forward to in Tory Britain??
Time to reopen the coal pits and fracking sites, get the oil fields going again. This is an emergency.
Didn’t they just intervene to get rid of the cheapest tariffs? What next?
TBF Europe has fucked itself by going with Russia for its energy.
Higher energy prices are undeniably bad but it can make renewables more profitable investment. What matters is that the poor can get enough heat for the winter. That means stop discriminating against temporary payment options ie energy keys. Also, dont overcharge people for going into deficit in bank accounts.
My monthly bill already went from £50 to £100. Was with bulb, fuck knows who I’m with now.
I’m not really sure what government “intervention” they’re hoping for. Are they literally expecting the government to hand over vast sums of money to the provider companies to subsidise lower prices? What happened to competition being a good thing that gives the consumer a better deal?
What the government should be doing is investing more (including the extra VAT it’s going to get from these price increases) in non-fossil energy sources so we can reduce our dependency on foreign gas.