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Cost of Living Crisis

Discussion in 'General Chat' started by YungNath, Jul 28, 2022.

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  1. Tony Wilkinson

    Tony Wilkinson Squad Player
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    It is, it's £67 per month for 6 months starting now (October) ..
     
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    #341 Tony Wilkinson, Oct 3, 2022
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  2. Offcomedun

    Offcomedun Important Player
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    #342 Offcomedun, Oct 3, 2022
  3. Bigrod

    Bigrod Captain
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    Good grief, even her own party think she got it wrong! Not sure why some on here are myopic!

    1. The U-turn comes after several Tory MPs voiced their opposition to the plan announced just 10 days ago in the mini-budget
    2. On Sunday Prime Minister Liz Truss insisted she would not abandon the policy
    Time to have an election and let the people decide!
     
    #343 Bigrod, Oct 3, 2022
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  4. Bronco

    Bronco Star Player
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    They never told us we had to pay it back :whistle:.
     
    #344 Bronco, Oct 3, 2022
  5. Bronco

    Bronco Star Player
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    #345 Bronco, Oct 3, 2022
  6. Tony Wilkinson

    Tony Wilkinson Squad Player
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    Stop hovering to collapse... Click to collapse... Hover to expand... Click to expand...
    #346 Tony Wilkinson, Oct 3, 2022
  7. Aaron Baker

    Aaron Baker Impact Sub

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    Well that's a good start for Truss : unamused:

    If you can't fully explain the benefits of a policy that "only" costs £2bn in the wider scheme of things then you probably shouldn't be announcing it in the first place.

    Set the marker down already that none of her difficult policy decisions will actually stick and she'll cave at the first sign of pressure. Might as well just roll put a left wing manifesto now since it will be the only type of policies she will be strong enough to get through.
     
    #347 Aaron Baker, Oct 3, 2022
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  8. Craven Cottager

    Craven Cottager Squad Player

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    Blame the Tory membership who couldn't bring themselves to vote for that nice Indian chappie. He knows economics.
     
    #348 Craven Cottager, Oct 3, 2022
  9. Offcomedun

    Offcomedun Important Player
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    No one said your views are 'invalid'. You're entitled to them just as everyone else is. They're just based on a very narrow experience of the world which you, mistakenly, think is typical.
     
    #349 Offcomedun, Oct 3, 2022
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  10. Tony Wilkinson

    Tony Wilkinson Squad Player
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    You have absolutely no idea of my 'experience' of the world ...
     
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    #350 Tony Wilkinson, Oct 3, 2022
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  11. Aaron Baker

    Aaron Baker Impact Sub

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    Isn't Sunak British?

    Don't know why you keep bringing that bit up anyway?
     
    #351 Aaron Baker, Oct 3, 2022
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  12. Dennis

    Dennis Captain
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    There are two different things in play. Firstly, the amounts which are now being deducted from bills (the £67 a month for the next 6 months) are subsidies from the Govt to reduce bills from what they would have been. It's being paid for by Govt borrowing and won't have to be repaid in customer bills at a later stage. But there is an end date.

    Secondly, in addition, customer bills will be capped at around £2,500 pa for a 'typical' customer with average consumption. That's already been announced on several occasions. My understanding is that the Govt will be providing loans to the electricity & gas retailers for them to keep customer bills within the cap. That's a very different approach to the current Govt subsidies. The Govt loans to the retailers will be funded from Govt borrowing. But and it's a big but, those loans to EON, OVO, British Gas etc will have to be repaid at some point by the retailers. Customers will find that a supplement is then added onto our bills for the cost of the loan which will repaid at some point in the future when the market stabilises. When that starts and for how long it lasts haven't yet been announced. The devil will certainly be in the detail.
     
    #352 Dennis, Oct 3, 2022
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  13. bantamlad92

    bantamlad92 Squad Player
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    :joy::joy::joy::joy:
     
    #353 bantamlad92, Oct 3, 2022
  14. Bigrod

    Bigrod Captain
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    Not my words!

    But I agree with the suggestion!

    Call an election if you want to change course, Nadine Dorries tells Liz Truss! https://www.bbc.co.uk/news/uk-politics-63110543
     
    #354 Bigrod, Oct 3, 2022
  15. Tony Wilkinson

    Tony Wilkinson Squad Player
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    Nadine is just narked because her blue eyed boy has been chucked out, A GE with a Labour win really would unsettle the economy and not in a good way for any of us whatever colour (red/blue) ..
     
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    #355 Tony Wilkinson, Oct 3, 2022
  16. Bigrod

    Bigrod Captain
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    I keep hearing of this £2,500 ‘cap’! From what I understand, the actual Bill isn’t capped at that price.

    It seems to be all ‘smoke and mirrors’. Fantasy not based in reality.

    Until August 2021, I was paying just over £100 per calendar month.

    We are a two person household. We don’t normally have the central heating on from 1st May until 1st October. We also spend quite sometime away from the house.

    This is an estimate from my Fuel Suppliers E-On

    Estimated annual costs until 30 September 2022:
    [​IMG] Electricity: £986.89
    [​IMG] Gas: £2,145.23
    Estimated annual costs from 1 October 2022:
    [​IMG] Electricity: £1,152.74
    [​IMG] Gas: £2,981.31

    Total £4,134.05 (£344.51 per month)

    Price difference:
    [​IMG] Electricity: £165.85 increase
    [​IMG] Gas: £836.08 increase

    Anyone else care to share what their Fuel Cost of Living rise will be?
     
    #356 Bigrod, Oct 3, 2022
  17. ahar964

    ahar964 Squad Player
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    I don't get that from Eon. Its the rate per kw/hour that is capped. I would say you are a low user.....don't use as many units as an "average" household, so should be well below the £2500.

    As an aside, my business energy bill for the 12 months to September was a relatively modest £6k. Our first renewal quotes are coming in aroung £32k! This I understand will be capped or disounted for 6 months from November but its a bit vague
     
    #357 ahar964, Oct 3, 2022
  18. Bigrod

    Bigrod Captain
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    According to Ms Truss(T), ‘Truss then went BBC Radio Leeds, saying government policy “will mean that Leeds and other people in West Yorkshire aren’t going to be facing energy bills of £6,000 which is what was forecast, they’re going to be, through the energy price guarantee, the maximum will be £2,500”!
    Sorry Liz you are not telling the truth!!
     
    #358 Bigrod, Oct 3, 2022
  19. Idlebantam

    Idlebantam Squad Player
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    I suggest you take that up with E-ON not Liz Truss mate.

    If you live in a so called average sized house with 2 in your household and you don't have heating all day every day, the cap applies.

    My new payments are £200 with EDF and I live in a 3 bed semi with 2 of us living there
     
    #359 Idlebantam, Oct 3, 2022
  20. Stafford Bantam

    Stafford Bantam Captain
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    Because of the stupid way the government has applied the Energy Price Guarantee to my Octopus tariffs, I actually got a reduction from 1 October.
     
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    #360 Stafford Bantam, Oct 3, 2022
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