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Post by dixinormus on Aug 26, 2022 19:55:20 GMT
All this media talk about Ofgem and the price cap… is it scaremongering by the media again, or is everyone going to be burning the furniture to keep warm this winter?
Presumably the incoming PM will magic up another 50 billion quid or so to alleviate the situation?
Can’t see any of this bringing the headline inflation rate down?
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WDB
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Post by WDB on Aug 26, 2022 22:31:15 GMT
It’s really no joke, a desperate situation for people on even moderate incomes, given the base cost of housing here, before you even try to heat it too. There’s very little slack in most people’s finances, and a fractured energy market in which many suppliers are caught between suppliers’ soaring prices and customers who can’t pay. Avoidable deaths and the business bankruptcies that mostly didn’t happen during covid will result.
And no, Liz Truss is very much not the answer.
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bpg
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Post by bpg on Aug 27, 2022 8:29:28 GMT
The argument put forward by Ofgem is laughable that it's to protect suppliers as well as customers. The suppliers who went bust had a bad business model from the outset and should never have been allowed to trade, they were not producers but value added resellers and were exposed to market fluctuations that went against them. I suspect all this is leading up to re-nationalisation of utilities where the "investors" get to walk away with a chunk of cash, the tax payer is on the hook for the next tranche of investment and a future Conservative Government will privatise in 30 or 40 years time. Rinse and repeat.
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Post by Humph on Aug 27, 2022 9:42:40 GMT
Of course I know life is different now and our expectations of it are the new normal, but when I think back to my early childhood, despite my parents being rather more than was seen as “comfortably off” the only room that was kept heated in winter in their fairly large and rambling old house in Edinburgh was the sitting room, and that only by an open fire which also served to heat the water by a back boiler system. The kitchen got warm if there was cooking going on but everywhere else was mainly left unheated. That didn’t seem to be unusual behaviour at the time. I can clearly remember sitting at a desk in my bedroom doing homework with ice on the inside of the windows. I guess we just wore more clothes. Not that I’d enjoy that lifestyle now.
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Post by EspadaIII on Aug 28, 2022 9:55:04 GMT
Had to remind son #1 that when he moves into his new shared house with his mates next week that his energy costs will double of last year.
Not sure he realises the impact on his disposable income it will have until he starts dipping into savings. At which point various parents will start reading the riot act.
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Post by bromptonaut on Aug 28, 2022 11:50:41 GMT
All this media talk about Ofgem and the price cap… is it scaremongering by the media again, or is everyone going to be burning the furniture to keep warm this winter? Presumably the incoming PM will magic up another 50 billion quid or so to alleviate the situation? Can’t see any of this bringing the headline inflation rate down? It's absolutely real. Electricity at 52p/unit daytime, probably about 50p during the Economy 7 period. Gas 15p/unit. Standing charges on a dual fuel tariff approx £270/pa. My annual bill, four bed house with neither of us going out to work, I work at home most days, is going to be around £4800 based on meter readings that are up to date. Thermostat will be lower this winter than last and we're intending to use the oven less. Try to limit running hot taps and reduce boiler hours for hot water.
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Rob
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Post by Rob on Aug 28, 2022 15:00:10 GMT
When I fixed my energy last September for the beginning of October I tried to convince my mother to do the same. She couldn't understand that whilst the deal I was suggesting was higher for her, it would protect her. But no she was happy to stay on her fixed deal.
So going against the advice of Martin Lewis I fixed it for 2 years. Assuming I continue to use roughly the same energy, it will be about £1200pa for gas and electric with standing charges (including VAT). But we should get £400 towards that from October. This is a 3 bed semi with two adults. It will of course shoot up next October.
I think people should sue Martin Lewis.
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Post by bromptonaut on Aug 28, 2022 19:46:06 GMT
I think people should sue Martin Lewis. He gave advice based on what we knew at the timeIt looked then as though Nordstream 2 was about to be commissioned. That avoided the risk of Germany being cut off to spite Ukraine for transit fees. Hindsight is wonderful. Back in February So Energy offered me a 1 or 2 year fix called So Guava. Quite a lot more than the cap at the time and not a lot less than the October Cap. I'd have paid over the odds for 6 months followed by, if market prices were lower by then, a significant exit fee.
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Rob
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Post by Rob on Aug 28, 2022 20:30:27 GMT
Funny how at the time I thought it would go up more than the cap though and so switched with a deal that allowed me to move at any time without penalty or cost. I never thought it would get this expensive but I did think things were on the up. And this was before we knew what Russia would do.
Hindsight is great but I locked in last September because it looked like the way to guarantee it and if I was wrong I could change to a lower tariff.
Note there is no exit fee on my deal. I wonder what EON would have done if Martin Lewis recommended that tariff?
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Post by EspadaIII on May 15, 2023 13:02:10 GMT
Just had a second storage battery fitted to complement my solar array. Another 8.2kWh battery in time for the longer days. Not cheap but certainly we are getting immediate benefit as unless we are using more than 2.5kW at any time (and the house ticks over at between 300W and 700W depending upon the fridges, freezers, lights and stuff kicking in), no mains juice is required and we can go overnight without using grid power.
Mind you I had a quotation for an air-sourced heat pump and it was £24,000 to save £1,000pa. Doesn't really stack up at the moment, unless the boiler failed.
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Post by Humph on May 15, 2023 14:34:15 GMT
Even then, you’d have to plan to live at least another 25 years. In my case that possibility is at best marginal. 😬
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bpg
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Post by bpg on May 15, 2023 15:22:11 GMT
Are you still doing the face planting ? If you fit stabilisers you could probably do the next 25 years.
I'm still looking to do the solar panels and battery installation, finding someone that doesn't install Huawei or other Chinese kit is the challenge.
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WDB
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Post by WDB on May 15, 2023 15:32:57 GMT
Stabilisers might stop him toppling sideways but the full over-the-bar Humphersault is still very much on. 😛
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Post by Humph on May 15, 2023 15:51:42 GMT
Actually (completely wrong thread I know but hey ho) yesterday was a bit of a red letter one bikely speaking. 53 weeks after “that” incident I finally managed to get myself and the bike properly airborne at exactly the same spot where it all came a bit unraveled last year. I was, I freely admit, totally bricking myself as I approached the take off point but as I’m still not very good at operating the back brake there came a point of no return and, well, it was in fact just what I needed to remind me why I still go to the bother of slogging up hills!
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Post by Humph on May 15, 2023 15:55:51 GMT
Edit above - and anyway, I was following “her” and she made a clean jump at the same spot and you know how it is… 😉
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