Energy Price Increases After Hours

[Boot Cleaner]

Energy price cap for 22 million households to rise by 54% from April, Ofgem confirms. Standard tariff customers to pay £1,971 a year, prepayment meter customers £2,017 a year.

Remember that is "typical usage" everyone's actual bill be different based on usage.

 

[Dylan]

Prices on average will rise by about £55 per month for millions. Going to be a lot to some.

 

[Franco Pinion]

Not really offering much to help are they? £150 off council tax and then a £200 payment that has to be repaid. Considering someone paying £150 a month will now be paying an extra £80 a month, that £350 isn't going to be a huge help.

People who are already struggling can't find an extra £50 a month, and likely to go up again in October.

Not sure what they should do though, and in my circumstances it's going to work out okay I think, but I really worry for worse off families

 

[Dylan]

The Government also confirmed it will not cut in VAT to help with this

 

[Siobhan]

I kind of get the reluctance not to reduce VAT. It won't be a massive break and will benefit the more well off more with larger homes.

However, they should never have taken the £20 a week off universal credit, they should seriously look at reinstating it.

They simply cannot do nothing, people shouldn't have to choose between feeding their children/themselves or putting the heating on in a country as rich as ours.

Just had an email from BT broadband is going up 9.3%, everything is rising. People's finances are being stretched from every direction on all their basic needs. It has to impact the whole economy sooner or later.

I absolutely detest the Tory Party, the best part of £10bn can be lost/written off (which will ultimately find its way back to the Tory Party and party members once they are out of office) but they cannot help the people who need it most.

Their levelling up nonsense is rubbish as well and will put funding back to 2010 levels by 2030.

The country is a mess.

 

[Best]

As much as the £150 council tax reduction will help some, it does nothing for those on benefits who get full council tax benefit, like pensioners on pension credit for example, who are pretty much at the bottom of the income tree.

The £20 uplift to UC was badly thought out and can't see them doing it again, there's already a court case thats waiting on a judgement saying it was discriminatory in not giving it to disabled claimants on ESA (which it was) so the chances of it being added back while that is ongoing is probably zero.

 

[Tom]

Meanwhile, Shell announces a 14 fold increase in profits, no doubt BP will follow suit.

I'm surprised the energy companies weren't dropping emails in our inboxes within minutes of the new cap announcement, to be honest

 

[Sazzy]

Thankfully I'm not going to be effected by the rise at the moment. My tariff protects me from any rises until November 2022.

Don't know what will happen come November though!

 

[Jason]

I'm sure the £150 off council tax is only in England (and possibly Wales). I don't think the Scottish government has made any announcement about that yet

 

[Fraser]

Will be interesting to see what Scotland's Finance Minister announces tomorrow and how, if anything, it differs from what Westminster announced.

I've just updated my readings. My direct debit has jumped from £109 a month the £235 a month. That can't be right surely?

Wish I hadn't bothered ffs.