PortafilterProcrastinator DavecUK I really hope you are wrong and Ofgem do their job and make sure they aren’t just supporting bigger bonuses and dividends to share holders.
Personally, I have never seen any evidence that Ofgem was there to help the consumer in any way at all…they always seemed to be representing industry interests. I remember how (many years ago)they were going to bring down the number of confusing tariffs….that didn’t exactly work out. Companies were not going to be able to hold large credit balances…British Gas has had a positive credit balance for almost 7 months now£600, it was going up by around £100 per month in summer and £50 per month in winter. With most companies billing and customer service are a mess, considering that’s all they really do, it’s not good.
I cannot see any incentive to return electric prices back to 17p per kW and gas back to 3 or 3.5p…..ever. If we can pay, trust me, they will continue to make us pay.
It’s like council tax, ours goes up year-on-year by the maximum this year it is 4.99% (so they can look like they are not doing the maximum). People are not getting this sort of wage rise….logically if council tax keeps going up at the same rate above wages, it will become more than people earn. At some point they have to stop the inexorable rise.
Ultimately all this drives inflation, which will feed through to interest rates they are trying to hold down (which further devalues savings), once interest rates go up the Mortgages interest rates follow..
All not good for the next few years….
(rant by moaning old git)
