So the government has handled the situation so badly, that you want the government to run the energy companies???
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Well yes. The government arenât going to bankrupt themselves with their own incompetent meddling and inaction like theyâve done to so many companies here.
Nationalising is really the only way to realise the promise of the price cap and weather storms such as this one. Especially when itâs looking more and more likely that the only companies that will be left are the ones whose very existence prompted the creation of the price cap in the first place. Maybe weâll still have Octopus if weâre lucky. Ecotricity are probably safe too, but theyâve never been cheap.
As incompetent as the government are, nationalising our energy sector feels like a good step forward to me. Itâs just the same energy you get regardless of who you pay. They donât need to be competent to take my money and give provide that. Pricing will be fairer and cheaper. It wonât go bankrupt. I think itâll be better for the planet too.
I think the calls for nationalising energy are the most logical reactions to whatâs happened here.
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Have you met our government? Sounds very much like something theyâd do - particularly if they can line their own pockets in the processâŚ
Yes I want the government to suddenly realise the price cap needs to go by it cutting into the treasury coffers?
Wow, just wow⌠Bulb is going up and then some
From 1 April, our prices will be increasing
We're increasing our electricity unit rate from 20.067p to 27.358p per kWh and electricity standing charge from 26.815p to 48.527p per day.
We're increasing our gas unit rate from 3.982p to 7.280p per kWh and standing charge from 26.112p to 27.219p per day.
And thatâs pretty much, penny for penny, what Shell told me yesterdayâŚ
The End of DaysâŚ.
Interesting that they have different unit prices and standing charges for different customers. Your price increase seems steeper than mine?
How does this work? Itâs all just so messed up
You sound surprised!
Mines the steepest so far then!
27.9058p per kWh
50.0546p per day (ÂŁ182.70 per year)
The discrepancies are based on region, hence some going up more than others.
Bulb have a page that makes these transparent here, but theyâre rounded. Youâll note mine are for North Scotland.
https://bulb.co.uk/tariff/current-rates-feb-22/
They estimate itâs going to cost me ÂŁ712 more per year. My calculation puts the figure closer to the ÂŁ800 ballpark. ÂŁ140 shy of a 50% increase.
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Hereâs the Shell tariff:
It doesnât look thereâs anywhere to turn just nowâŚ.
.
As Plato said, âJust gotta suck it upâ
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The standing charge is just a complete nonsense - the cost of running the network hasnât gone up that much. It will hurt the poorest. I wonder how much input and control her majestyâs government is exerting on bulb.
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I was more surprised by the tone of the email. No attempt to soften the blow, just straight up youâre [insert favourite expletive]
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I was predicting that this would happen. Big increases in electricity tariffs and standing charges but not much done to gas.
This way they can fleece customers even in summer when gas isnât used so much, customers on electricity only will also feel it almost the same, if not more, and you canât hide completely by not using energy.
This is why I think the way the price cap is done is not great
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One of the reasons the standing charge has increased is to cover the costs of reimbursing the credit balances of all those customers who were with suppliers when they collapsed.
According to Ofgem about ÂŁ68 or 10% of the April 2022 energy cap increase is due to this.
ÂŁ68 = 18.63p/day
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Thanks for this. Iâve just got the email from Bulb setting out the increases and couldnât get why the standing charge had to go up. Now I know. R-
Just to put it out there for those that arenât aware:
I have to admit, Iâve only ever paid CT by d/d but apparently a lot of people donât.
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My Council Tax has gone up ÂŁ40 this year.
Compared to everything else, thatâs achievable.
Surprisingly, my council tax isnât going up. Although we apparently pay the most in the whole of Wales (maybe even the UK - not sure), so a bit of a relief!
Rate wise for gas and electric, as of 1st April:
- 28.289p per kWh (Electric)
- 7.443p per kWh (Gas)
And standing charge:
- 34.503p per day (Electric)
- 13.620p per day (Gas)
Thatâs with UW (Utility Warehouse)
Yikes. First one is absorbable. Another 50 puts us over double. Thatâs scary. A lot of people are going to really be struggling to live this Christmas.
The few companies that are being transparent about their own cost increases and hit to their margins only elevates it. Your shopping this year, assuming you buy all the same things in the same quantity as last year is going to be costing 20% more at least. The increases are mostly likely to be more sneaky.