Cost of living crisis.

[Tommy G]

Price cap now over estimated over £5K come April, the MSM will be loving it!

[Steve_Guppy_Left_Foot]

I've asked this before and never got an answer maybe nobody knows but why is the price cap going through the roof now, but it never has before? Bills have always gone up over time but why all of a sudden now are they tripling for people? What's the law behind it? It makes no sense to me. 

[Trumpet]

25 minutes ago, Steve_Guppy_Left_Foot said:

I've asked this before and never got an answer maybe nobody knows but why is the price cap going through the roof now, but it never has before? Bills have always gone up over time but why all of a sudden now are they tripling for people? What's the law behind it? It makes no sense to me. 

I’d be interested to know too. My guess would be that because the cost of a unit of gas or electricity is rising then if the price cap doesn’t rise, it’d be the energy companies that would take the hit and go bust like the few that did last year. The price cap is now allowed to be reviewed every 3 months instead of 6 as was previously. That’s very much a guess / a simplistic view of the situation.

[bovril]

The meaning of the word 'cap' really being stretched to its limit here

[Parafox]

3 hours ago, Dames said:

I see the expected energy price cap is now revised daily. Its going up like £100 each forecast at the minute.

 

All to drum up fear and when it comes in slightly cheaper we'll be made to feel grateful for it.

A bit like the current drop in fuel prices at the pumps. Seems bizarre to think £1:81 is a "decent" price.

[Fazzer 7]

7 hours ago, ClaphamFox said:

Inflation is to hit 18% in January, according to Citi:

https://www.reuters.com/world/uk/uk-inflation-hit-18-early-2023-citi-forecasts-2022-08-22/

Any advance on 18, let’s round it up to 20. Realistically it will be closer to 10. Can you invest in the ‘price cap’.

Edited 22 August 2022 by Fazzer 7

[zorro en españa]

You can invest - would you like a (spread) bet.  10 being neutral as you intimate - you can set the £ per 0.1 percentage point at the same time next year.

 

If you feel confident you could make a few bob - there has to be intervention surely?
 

You up for it? (to @Fazzer 7)

Edited 22 August 2022 by zorro en españa

[SecretPro]

Genuinely been making olive oil lamps as alternative lighting in winter. Bleak. (But with ambience)

Edited 22 August 2022 by SecretPro

[ozleicester]

One of Australia's highest paid genius CEO's has just presided of a near $2 billion loss...coz as the head of Qantas...he didn't expect it to be so busy after COVID.


"...I’m amazed at how rapidly it’s recovering.”

 

 

Thank goodness for these genii 

Edited 25 August 2022 by ozleicester

[yorkie1999]

On 22/08/2022 at 16:25, bovril said:

The meaning of the word 'cap' really being stretched to its limit here

Nah, if they didn’t cap it the energy firms would charge us a million quid a month

[yorkie1999]

On 22/08/2022 at 18:26, Fazzer 7 said:

Any advance on 18, let’s round it up to 20. Realistically it will be closer to 10. Can you invest in the ‘price cap’.

I think it’s a lot more than 18%. It might be fine measuring the state of the economy on a loaf of bread and a pint of milk, but try measuring it on fuel bills, petrol prices and building materials, I’d say it was more like 50%.

[Parafox]

We've just had a bill from Virgin media of £138. this month after a deal came to an end. We found a website called ismybillfair.com, entered details required and within 2-3 mins we had an 18 month deal of £88 per month. 

 

If you haven't already, it's worth a check. They check bills for many energy as well as TV, broadband providers and whilst they're not a switching site, if your supplier has a deal that isn't advertised, they can check if one exists and advise you accordingly.

[CollinsLCFC]

24 minutes ago, Parafox said:

We've just had a bill from Virgin media of £138. this month after a deal came to an end. We found a website called ismybillfair.com, entered details required and within 2-3 mins we had an 18 month deal of £88 per month. 

 

If you haven't already, it's worth a check. They check bills for many energy as well as TV, broadband providers and whilst they're not a switching site, if your supplier has a deal that isn't advertised, they can check if one exists and advise you accordingly.

I'd still call the provider for a better deal as they can offer further discounts. 

 

My VM contract has just came to an end, similarly the new monthly payment was due to go from £84 to £130. I called and was offered a new 18m contract for £80. 

 

Looking at this website, it shows the best deal to be £88. Not a significant amount, but every little helps. 

 

 

 

 

 

[grobyfox1990]

51 minutes ago, Parafox said:

We've just had a bill from Virgin media of £138. this month after a deal came to an end. We found a website called ismybillfair.com, entered details required and within 2-3 mins we had an 18 month deal of £88 per month. 

 

If you haven't already, it's worth a check. They check bills for many energy as well as TV, broadband providers and whilst they're not a switching site, if your supplier has a deal that isn't advertised, they can check if one exists and advise you accordingly.

The best way is always to call the provider directly, tell them what you want to pay and haggle over the difference. Broadband, TV, mobile phone, insurance, credit cards, banking are all very competitive markets with very low barriers to the consumer switching, therefore they are always able to offer you a bit extra.

[Parafox]

52 minutes ago, CollinsLCFC said:

I'd still call the provider for a better deal as they can offer further discounts. 

 

My VM contract has just came to an end, similarly the new monthly payment was due to go from £84 to £130. I called and was offered a new 18m contract for £80. 

 

Looking at this website, it shows the best deal to be £88. Not a significant amount, but every little helps. 

 

 

 

 

 

 

29 minutes ago, grobyfox1990 said:

The best way is always to call the provider directly, tell them what you want to pay and haggle over the difference. Broadband, TV, mobile phone, insurance, credit cards, banking are all very competitive markets with very low barriers to the consumer switching, therefore they are always able to offer you a bit extra.

We only have mobile phones, no landline, and the number Virgin has on their site comes up as invalid when called.

 

Anyway, thanks for your advice and when this new deal ends we will contact them direct.

[Unabomber]

1 hour ago, Parafox said:

We've just had a bill from Virgin media of £138. this month after a deal came to an end. We found a website called ismybillfair.com, entered details required and within 2-3 mins we had an 18 month deal of £88 per month. 

 

If you haven't already, it's worth a check. They check bills for many energy as well as TV, broadband providers and whilst they're not a switching site, if your supplier has a deal that isn't advertised, they can check if one exists and advise you accordingly.

Thanks for that. Just checked my sky deal and looks like I have a fantastic deal atm.

[Zear0]

Rise of £3,549 from £1,971 for the average consumption then. Stick another 80% on your bills for October... 

[fox_up_north]

Yep. Looks to be about £200+ a month for me, as a single person, per month for energy. 

 

But the government don't want to intervene and the frontrunner for PM has repeatedly rejected calls to do anything. 

[Legend_in_blue]

Don't worry.  Truss is giving back your NI contributions and taking off the green levy.  

 

It's called delivering.  Apparently.

Edited 26 August 2022 by Legend_in_blue

[adam]

Any sign of boris yet? Or is he still posing for photos in Ukraine? 

 

What a complete shit show this country is. 3500 quid!!! 

[st albans fox]

1 minute ago, adam said:

Any sign of boris yet? Or is he still posing for photos in Ukraine? 

 

What a complete shit show this country is. 3500 quid!!! 

Don’t worry mate - that’s just for 3 months before it goes up to £4800 in Jan ! 
 

im not sure that the appetite for helping ukraine will survive this winter ……

[StanSP]

Will the new PM actually do anything in 10 days or whenever they're elected? Or are they likely to just brush it off asking people to fight through it. 

 

France and Germany and presumably other parts of Europe have already capped it at minimal percentages. Meanwhile we've seen over 100% rise from March alone. 

 

I heard Germany will give everyone £300 this winter with an extra £100 per child, and that's on top of capping at 6 (?) percent. 

[Steve_Guppy_Left_Foot]

I think the correct term for these energy companies is capalist terrorists. 

[adam]

29 minutes ago, st albans fox said:

Don’t worry mate - that’s just for 3 months before it goes up to £4800 in Jan ! 
 

im not sure that the appetite for helping ukraine will survive this winter ……

And over 6k In April! 

[st albans fox]

28 minutes ago, StanSP said:

Will the new PM actually do anything in 10 days or whenever they're elected? Or are they likely to just brush it off asking people to fight through it. 

 

France and Germany and presumably other parts of Europe have already capped it at minimal percentages. Meanwhile we've seen over 100% rise from March alone. 

 

I heard Germany will give everyone £300 this winter with an extra £100 per child, and that's on top of capping at 6 (?) percent. 

So the German and French governments must be spending many thousands per household to cover the cost 

 

Seems we aren’t prepared to do that - just the £600 I think for now …