Gas and electric price increases ?

[robj20]

For me my account is normally in deficit by December (so it's like free money as they don't charge interest) and credit by August so it pretty much balances it's self out.
Yes with the sky high interest rates I just wouldn't know what to do with all that money.

Now I don't know where you live, how large your property is, who your account is with or even if you are one of the lucky few still on a fixed term tariff but even before the rise we have just had I wish I could have spent as little as £120 a month on my winter fuel bills.

I got approx 15% interest last year, yeah it's not mega high it's not going to make me rich but it's better in my pocket than there's.
I live in Manchester, on the standard variable tariff since last October. Having room by room heating made a huge difference to my bills, paid for itself in a couple of years.

 

[tarric]

I got approx 15% interest last year, yeah it's not mega high it's not going to make me rich but it's better in my pocket than there's.
I live in Manchester, on the standard variable tariff since last October. Having room by room heating made a huge difference to my bills, paid for itself in a couple of years.

15% I wish I could get even close to that without taking to big a risk for me.
I have a multi zone smart heating hence I have been able to reduce my energy usage still couldn't get my winter bill even close to £120 a month my average bill for the 6 months from the 1st October 2021 to 31st March 2022 was approximately £170.

 

[JohnC6]

Totally agree, with the gas/electric rises and fuel not to mention food prices going up weekly I think there is going to be a lot of people struggling soon, if they aren’t already, next winter will be a nightmare!

I listen to Five Live quite a lot, the daily Nicky Campbell phone-in 0900-1100 and Stephen Nolan Friday/Sat/Sun and it's on now 8-midnight..and the financial situation that those calling in are experiencing is shocking and,as you say, there's another energy hit coming in October. The war in Ukraine will cause basic food prices to increase because between Ukraine and Russia they account for 30% of world wheat production.The 'so-called 'breadbasket of Europe'. Wheat, maize and vegetable oil (sunflower oil) Since the war wheat has increased on the exchange by 50% to US $13 a bushel. Yesterday ,I heard that cooking oil will go up significantly so I told my wife to get a couple of bottles on the next shop. She told me that there were only two left this morning . Obviously, the word is out.

I've just listened to one male caller on the Nolan Show .He's struggling to heat his home now and he works from home .He's cancelled his holiday, cancelled his 30th wedding anniversary celebration and it's affecting his mental welfare. People who get root vegetables at food banks aren't taking them because they can't afford the gas/electricity to cook them. At least the government need to re-introduce that £20 a week increase to universal credit they recently stopped.It beggars belief that they thought those recipients needed an extra £20 prior to the petrol price hikes and now energy price hikes along with food price hikes and haven't ,it seems, even looked at it.

A 65 years old single lady has just called in. She has an NHS pension and RN pension that comes to less than £600 a month Gets help with housing costs and council tax. Pays half of her income in council tax and rent. Gas and electric was £43 a month now £80. She's left with next to nothing..Leaves her with £50 a week.She's had to sell her car. She doesn't turn the heating on in the day and only one hour at night. No broadband, no Sky, can't see her children, (no car to get to them) can't buy presents. She's eating one meal a day. She says "What am I suppose to do ? " Next June she gets her state pension so all her benefits will go. Nolan asks how it's affecting her self-esteem. Not good. She thought her taxes and NI that she's payed all her working life was to stop this sort of thing happening. Nolan has asked her to keep in touch with the programme.

The government is so worried about the backlash from pensioners ..ie voting..that from April next year the triple-lock will be re-introduced. It will be about 7% . I don't suppose people on universal credit vote Conservative.

 

[tracybradbury]

Unfortunately I’m on benefits as I’m a single parent with 2 children at home now ( oldest has left) and both my sons have disabilities, the youngest is severely disabled.
My youngest also can’t regulate his temperature so I need to keep the house warm but with recent prices hikes it’s going to be a lot harder.
I have a motability vehicle which again unfortunately is diesel, and I live rurally so I need my car.
I literally have no idea how I’m going to pay for the constant increases, this government really don’t give a damn!

 

[JohnC6]

Unfortunately I’m on benefits as I’m a single parent with 2 children at home now ( oldest has left) and both my sons have disabilities, the youngest is severely disabled.
My youngest also can’t regulate his temperature so I need to keep the house warm but with recent prices hikes it’s going to be a lot harder.
I have a motability vehicle which again unfortunately is diesel, and I live rurally so I need my car.
I literally have no idea how I’m going to pay for the constant increases, this government really don’t give a damn!

Really sorry to see you're in such a precarious situation.I don't think it's an exaggeration to say that, overall, for so many people it's frightening. Even those who consider themselves to be comfortable..at least nowhere near struggling, will feel this squeeze. The lady I mentioned also has some debilitating condition but I couldn't quite catch what it was. I don't think it's an exaggeration to say that it's a national emergency. I think Sunak is going to have to address it shortly.

Re gas. here's a Guardian article..Sept last year about how UK storage levels have been allowed to drastically drop.

‘Relying on luck’: why does the UK have such limited gas storage?

Analysis: Closure of huge storage plant, misplaced optimism in fracking and demise of North Sea gas have all played a part

www.theguardian.com

'The UK’s stores hold enough gas to meet the demand of four to five winter days, or just 1% of Europe’s total available storage. The Netherlands has capacity more than nine times the UK’s, while Germany’s is 16 times the size '