I just had one positive thought about winter coming and energy prices. We’re all probably a bit wary of running our coffee machines in the summer, and they only make the house warmer which we don’t want, all that energy is effectively wasted. Of course in winter we want the house to be warmer so leaving our coffee machine on all day is not the problem it is in summer, all that heat energy transfers back into the house where it’s actually wanted.

Something positive to think about him otherwise horrible energy situation.

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That’s the good thing about the cold days, the efficiency of many appliances becomes less relevant (unless the produce things like hot water which goes down the drain while it’s above freezing)

£170 B rescue plan to freeze energy prices cap is being prepared! Hmm…costing, credibility and the how aspects are to be worked out. The fiscal deficit / open-market operations is the obvious route.

With a promise to roll back the NI hikes, I am thinking if a long-dated bond offering to the rich businesses, the fund managers and the public is an attractive option. 🤔

I’m wondering what this means for my fixed-rate, should I actually bin it and go back to the price cap? Will they let us down, u turn in three months and bung up the prices?

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till jan i have read… but then till 2024 so dunno

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It’s all up in the air. I think Oct rise is done and dusted. I doubt the government will cap at current levels, although I think they should.

As far as the sustainability of this measures is concerned, it rests crucially on the chances of a snap election and the outcome of it. I would expect a snap election early next year, if the year end is not possible.

    LMSC rests crucially on the chances of a snap election and the outcome of it. We should see a snap election early next year, if the year end is not possible

    I actually think they would be very stupid to go for a snap election. Mind you perhaps they will believe their own sizzle just like Theresa May did….and that didn’t work out so well. One benefit of an 80 seat majority, they can push policies through. A coalition won’t do anything. As far as the energy issues, there’s a lot needs doing… especially getting rid of net 0 and the banning of petrol vehicles.

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        DavecUK I actually think they would be very stupid to go for a snap election. Mind you perhaps they will believe their own sizzle just like Theresa May did….and that didn’t work out so well. One benefit of an 80 seat majority, they can push policies through. A coalition won’t do anything.

        She doesn’t have the people’s mandate. Having been elected as a new PM, she should seek one, IMO. I do not know, if she will go that path.

            No UK government will drop the net zero commitment for one simple reason - keeping it doesn’t commit them to do anything immediately but dropping it almost certainly would. All the big polluters were happy to sign up to it for this reason. Remember the target is 2050, governments realise that they can spin this and act any way they want for a good 20 years, by which point better options will be available.

            LMSC She doesn’t have the people’s mandate. Having been elected as a new PM, she should seek one, IMO. I do not know, if she will go that path.

            We vote for our MP though, not the prime minister. If this wasn’t the case, no prime minister would ever be removed from office by their own party, as it would be political suicide? Theresa may, Gordon Brown, Nicke Clegg in the Coalition, none of them were elected by the people. I guess for it to be any other way, we would need a constitution change and a presidential system, like the USA?

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                DavecUK I understand what you are saying! Mrs May did call as it was the correct thing to do as she did not lead the party to an electoral victory. So did Mr Johnson! IMO, the new PM should do the same thing! 😊

                    LMSC the new PM should do the same thing!

                    I am sure Labour, Lib Dems and the SNP will be calling for her to do just that, every day for the next few years. After all they asked for Boris to resign almost every day of his premiership… “will the prime minister resign”, and the other favourite “will the prime minister apologise”.

                    For me there is simply too much politics in politics now from all parties. I would love to see decisions being made for the good of the whole country for a change. I didn’t vote for decades, then I started voting, now I wonder why bother.

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                        DavecUK May misread the situation and thought she could improve on her very slim majority by calling an election. She reduced it. Boris realised that the influences on the Commons did not reflect the feeling of the nation and so, one day, Corbyn woke up and thought, I can win an election today! Thank god for that one! If anyone likes a larf, please watch this but do not be pseudo offended afterwards

                        Boris got his election call spot on. truss has the mandate to rule because the Conservatives have the mandate. Right now the shambles of a political system can sense blood for a short period of time. They know that if Truss comes out punching and is successful, her honeymoon period will destroy their chances now of an election. There is no point in truss having endured a leadership battle to throw it away quickly

                        https://www.suddencardiacarrestuk.org/2024/02/thank-goodness-for-madeira-cake/

                          So what they are saying is clear as mud, and now with the queen passing all parliament business is closed for 10days.

                          This is apparently the average is 12000kw of gas and 2900kw electricity, which I find really low, I’d say I’m fairly low use, all our lights are led and we’re out most of the day with work/school. We use 300 units of electric a month.

                          So my bill is still going over £3k a year.

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                            Cuprajake The other bit I find interesting is:

                            1. Estimated cost of the rescue package over 2 winters: £130 billion
                            2. Estimated windfall profit for energy companies during same period: £170 billion
                            3. Ms Truss: “To look at everything through the lens of redistribution is wrong"

                            This smells of dooh nibor

                                ive just been told, truss used to work for shell? not sure if true?

                                torries wont bite the hand that feeds, they will let the commoners deal,

                                the scary thing is (having spoke with a family member) not alot of people under stand the units thing, she was saying she cant spend more than £2500, i explained the units, she currently uses 4000kwh a yr on electric, so she will pay a lot more than £2500

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                                  Cuprajake I think this and some other posts reflect the general misinformation people are provided with from all sides. This includes all politicians, government departments, advertising companies, large corporates etc. We are positively bombarded with misinformation dressed up to look real, or complicated maths to prove a point which is erroneous. I personally hate this, and I really don’t know how the British public can make any rational decisions when presented with all sorts of misinformation. I remember when I was working I had a team many were graduates and virtually none of them could work out percentages! E.g how to calculate 18% of 346 was beyond their capability. One with a 1st told me he hadn’t studied maths.

                                  Basic statistics was also beyond them…so how does the general public have any chance of understanding some of this stuff.

                                  Jake’s comment about the energy price cap is well-made, the price cap is not a meaningful number to the majority of people, they’re even having to have it explained, this isn’t the maximum they will pay. So I wonder why was ofgem ever allowed to quote the price cap in this way, why didn’t it just set a unit price for gas and electricity and the standing charge. That’s something everybody would have understood. Why won’t successive governments, and the Civil service change this. If I was ruler of the UK, it’s one of the first things I would change.

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