New Energy Price Guarantee

[melduk]

Great news on the new energy price guarantee that has just been announced:

Government announces Energy Price Guarantee for families and businesses while urgently taking action to reform broken energy market

Prime Minister Liz Truss sets out decisive action to support people and businesses with their energy bills.

www.gov.uk

Fingers crossed this means some reduction in EV charging from businesses/Tesla Superchargers. Has anyone seen much about this? Early yet I guess to see if this has an impact on this, hopefully it does. EV charging away from home is ridiculously expensive now and will be even worse from October.

 

[Darreno]

Great news on the new energy price guarantee that has just been announced:

Government announces Energy Price Guarantee for families and businesses while urgently taking action to reform broken energy market

Prime Minister Liz Truss sets out decisive action to support people and businesses with their energy bills.

www.gov.uk

Fingers crossed this means some reduction in EV charging from businesses/Tesla Superchargers. Has anyone seen much about this? Early yet I guess to see if this has an impact on this, hopefully it does. EV charging away from home is ridiculously expensive now and will be even worse from October.

Posted some details on current fixed tariffs that are interesting - Octopus Energy, including Intelligent

 

[PITA]

Great news? ... I don't think so.

Liz Truss has decided enough is enough.

She'll allow the Oil & Gas Companies to charge what they like, but... she'll pay their bill above her new Price Guarantee of £2,500 for an average household, allowing these Companies to grab this Government money pot, as they see fit.

Pushing the UK into more and more debt. Involuntarily by it's Citizens, but forced into more debt which will be repaid over 10 to 20 years.

She isn't challenging the Oil & Gas industry... she's complicit in it's profit making actions. It's point blank robbery..

 

[M1tch]

As with almost everything these days it’s all smoke and mirrors to hide the multitude of lies and deceit in the background. The country is an absolutely shambolic mess - and getting worse.

 

[Andy_RS2113]

Great news? ... I don't think so.

Liz Truss has decided enough is enough.

She'll allow the Oil & Gas Companies to charge what they like, but... she'll pay their bill above her new Price Guarantee of £2,500 for an average household, allowing these Companies to grab this Government money pot, as they see fit.

Pushing the UK into more and more debt. Involuntarily by it's Citizens, but forced into more debt which will be repaid over 10 to 20 years.

She isn't challenging the Oil & Gas industry... she's complicit in it's profit making actions. It's point blank robbery..

This. She’s the worst thing to happen to this country since boris johnson…

 

[cryo]

Liz Truss previously worked for Shell it looks like she still does

 

[ItsNotAboutTheMoney]

Liz Truss previously worked for Shell it looks like she still does

So she's a Shell shill?

 

[pdk42]

Crazy idea with current debt levels to fund this by more state borrowing. Why not a windfall tax? The profits by the energy giants are eye-watering. Even Thatcher wasn't afraid of windfall taxes on big corporations.

 

[PITA]

Liz Truss previously worked for Shell it looks like she still does

When she left Oxford, Truss joined Shell as a graduate trainee, where she gained her accountancy qualification.

The scheme reportedly had a focus on "project economics and contract negotiation", and Truss' roles at the company included commercial manager for liquid natural gas shipping, project economics and contract negotiation.

 

[goRt]

Great news? ... I don't think so.

Liz Truss has decided enough is enough.

She'll allow the Oil & Gas Companies to charge what they like, but... she'll pay their bill above her new Price Guarantee of £2,500 for an average household, allowing these Companies to grab this Government money pot, as they see fit.

Pushing the UK into more and more debt. Involuntarily by it's Citizens, but forced into more debt which will be repaid over 10 to 20 years.

She isn't challenging the Oil & Gas industry... she's complicit in it's profit making actions. It's point blank robbery..

To be clear - it's a rate cap not a bill cap

 

[Zilla91]

I can’t wait to foot the bill for this in the future. So much for ruling as a Conservative, eh?

 

[Andywil]

To be clear - it's a rate cap not a bill cap

I think most people on this forum understand that, but at what price units capped at. Without this no one can known what effect it will have on bills.

 

[goRt]

I think most people on this forum understand that, but at what price units capped at. Without this no one can known what effect it will have on bills.

The post I quoted clearly didn't
The actual rates are promised for "later" - they've only had a few months notice

 

[Andywil]

The post I quoted clearly didn't
The actual rates are promised for "later" - they've only had a few months notice

I saw that in the announcement but how can you put a figure on the capped average bill without having a figure for the individual components.

 

[Darreno]

I saw that in the announcement but how can you put a figure on the capped average bill without having a figure for the individual components.

Unit costs are to come in the following days. It seems to work out around 35p pkwh.

 

[goRt]

I saw that in the announcement but how can you put a figure on the capped average bill without having a figure for the individual components.

It's a populist government, it just says whatever it needs to to move on and we should watch our tone

 

[PITA]

The post I quoted clearly didn't
The actual rates are promised for "later" - they've only had a few months notice

Actually the post you quoted was very clear.

"she'll pay their bill above her new Price Guarantee of £2,500 for an average household"

£2,500 for an average household.

If you are not the OFGEM average household, then you will pay less, or more depending how much you use.

 

[GRiLLA]

This 'average household' is infuriatingly obscure, no one can possibly know if their use is average or not. Just publish the unit prices FFS then anyone can look at their bills and see what this would cost in the future. There is a lot of misdirection here, I suspect that it's going to become clear that this programme leaves many workers still unable to heat their homes this winter but keeps middle classes comfortable and the wealthy most wealthy.

 

[Jason71]

This 'average household' is infuriatingly obscure, no one can possibly know if their use is average or not. Just publish the unit prices FFS then anyone can look at their bills and see what this would cost in the future. There is a lot of misdirection here, I suspect that it's going to become clear that this programme leaves many workers still unable to heat their homes this winter but keeps middle classes comfortable and the wealthy most wealthy.

Its fine to use the average household to calculate it. and for some not savey people that might actually be more useful as a guide than p/kwh
But I agree FFS as soon as you do that convert it to p/kwh and publish that at the same time since that is what the other 90% of us need to know.

 

[GlynG]

Joe public - well lots of them understand this cap rate as the maximum bill - I wonder just how many will put their heating and lights on 24/7 thinking they may as well get maximum value - I'm waiting for the TV interview with someone who says they are in debt, can't afford to eat - whilst smoking a fag, holding their mobile phone - have clearly just had their hair done and eyebrows microbladed and being obese, whilst shouting at the kids to turn Sky off the 65 inch TV.

Seriously, some people have been informed of their new CAP rates, some haven't, just what is frozen - where they are or where they were? All suppliers are charging similar rates - does this mean they will all charge the same now?

I have no idea what average is - I know my bills are higher than most because a few years ago a company i was with used to report quarterly how my energy compared to similar homes in the area - and i was always significantly higher.
I have a low level B in energy performance for a 4 bed detached, 1970s build, I'm fully insulated inc cavities, double glassed, Thermostatic valves, new boiler 6 years ago, Hive, All LED lights, Solar and 13.5Kw storage batteries and all appliances rated A and some AAA, just two people in the house - yet my overall bills are £200 per month (obviously a lot less during Summer but well in excess of that in Winter - so I build up credit - but about neutral on the year)
So am i now "average"?