They scare you with £5000 only to have you happy with £2500 which is double what you paid before. Not to mention we are still paying the energy companies the difference. Typical slight of hand .You must be mad if you are happy with this.😵💫
Yes I agree.. The great con has been accomplished with a degree of finesse too, :- making people wait weeks for 'salvation' so they are more likely to accept todays thin gruel. I suspect they became concerned by the huge backlash following the recent cap lifting announcements and realised they had gone too far.
Did he get the government to do something? No. This guy is a multi millionaire who gets kick backs from amazon, Tesco and the like...... from his website. He's no hero.
people have to /should try & help themselves a little bit more .i bought a plugin throw 2 years ago sit watching tv like a slice of toast total cost in electricity 1pence per day . dont depend on someone else all the time
In Parliament it was stated that the energy producers will make £175bn EXTRA in windfall profits over and above the profits they expected to make. A 100% windfall tax could GIVE every household in the UK (all 28 million of them) a 4kw solar PV array with 3.6kwh of lithium batteries (total cost £6250 each). That would give every household 4000kwh of free electricity every year for the next 25 years. The average household uses 3760kwh a year. They never want to talk about domestic solar PV with batteries. I wonder why?
Even smaller arrays with batteries to charge electricity cars instead of all pulling off the grid at 6pm when you get home. I dont think they are interested in solutions only money to be made from the problem.
Solar is not the best choice for the UK, other than a few months in summer. I hear that money would be better spent on wind and tidal and leave the solar for those with a more equatorial outlook. Also Lithium is not that plentiful, expect cost to skyrocket with that sort of demand.
My latest gas and electric bills were £350 combined for the month funny as I have not used any Gas since May but they insist I pay I told them no and will not. If the price cap comes in October my bills will be over 500 a month and I am a single parson living in a one bed flat. How is this even affordable still for the majority of people?
Are you on a tarif where you pay the same each month? In which case you’ll be in credit. But you may prefer to change to a variable if you don’t want to pay for gas when you’re not using it.
I’d question the fairness of what you’re being charged by your supplier. That’s about £140 more than my last combined bill, and I live in a 4-bed house with a family of 6. I currently pay £160 for gas and £90-something for electric.
Not possible. Unless you are just careless with your usage. We have an old large 6 bed house, last month we paid 150 for a family of 4. In the winter it will be higher though when we use start using the heating
It's disgusting that Truss won't hit the oil and gas companies with a windfall tax, despite the record profits they've "earned" throughout this crisis. So they'll just add the full cost on to the debt the peasants have to pay off through taxes. 🙄
@@dwatts670 Firstly - nonsense they are paying £5bn "windfall tax" - it was stated they stand to make £175bn in excess profits above what they expected to earn. We don't need "future investment" in fossil fools - we need PRESENT investment in renewables. For the £175bn they will steal from the British people we could GIVE every home in the UK (all 28 million of them) a 4kw solar PV array and 3.6kwh of lithium batteries (£6250 per household). That would save households £2500 a year - every year for the next 25 years. The £5bn windfall tax so far has been handed to people as £400 off their energy bills - which means it goes STRAIGHT back to the energy corps for something they were war profiteering on in the first place.
Martin honestly I can’t thank you enough for all of your hard work over the years. The difference you’ve made to so many peoples lives including my own is invaluable. You really are one of a kind.
@@andreahodson7031 LOL probably! How can someone be so clued up about money and also be oblivious to the real effect of all this big government borrowing.
@@everready800 The goverment created billions to cover the infection and it caused inflation..but this £100 odd billion will reduce inflation..work that one out
Surely we’re not seeing this as a victory? £2,500 is still an absolute joke and at the cost of £140 billion that’ll have to be paid back in taxes, it’s not exactly a solution at all
In Parliament it was stated that the energy producers will make £175bn EXTRA in windfall profits over and above the profits they expected to make. A windfall tax of £140bn would still leave them with £35bn over and above what they expected to make.
Its not a joke, it's a reality and so not as bad as it would have been; and at least the government has helped. Can please people stop worrying,stop complaining and just be more grateful!!! It's very concerning that people can't accept difficult times, yet a previous generation went through war. This generation is weak, childish and complain all the time, it needs to get a grip and grow up!
@@RAPTUREATTWILIGHT SPOT ON. People need to get in the habit of taking any Government Action above the normal as a bonus and focus on doing more for themselves. Energy Crisis is NOT a problem created by us. People forget money doesn't grow on trees, and the deficit being created with all this support will be ultimately paid back by the Tax Payer. I'm sure, those on benefits who are probably on it out of choice rather than need don't really care, since they simply have us to pay for their bills.
Martin, it is still a 27% increase in the actual cost per kwh in October so that one off payment of £400 might lower the percentage rate to 6.5% on the average yearly cost but for families who use more than the yearly average like our family of 6, it will still be an expensive proposition since we use about £2500 per year on electricity alone at the October rates which i am estimating to cost 34p per kwh on electricity. We only use our gas central heating through 4 to 5 months of the year but i expect the gas to cost £2500 per year. I have thought about a biomass pellet boiler but unbranded pellets now cost about £600 per ton and i estimate 3 to 4 tons per year to heat the home so not much of a saving there unless we could get the renewable heat incentive payments which i suspect the government will make it difficult to claim the payments to begin with and will start to phase out the scheme eventually. I was disappointed that our government said nothing about separating the price rises of electricity from the rises in gas prices since the cost to generate electricity is cheaper than the wholesale price of gas. Allowing the cost of electricity to rise in line with gas will add to the cost of everything that is manufactured and increase inflation further.
Yes, spending the last 20 years getting people to borrow on 0% credit cards and then switching every few months has helped people accept debt in a way that was never thought possible.
Irrespective of Mr Lewis personal wealth he has championed on behalf of the vast majority of the British public that were being traumatised by rising energy bills. His input has had an effect and for that I am very grateful 👏.
Well said, Ian, I pay £183 a month now for both gas/electric, I’m on my own I can’t afford anymore, I certainly won’t be having the heating on, only when it’s so cold the pipes will be safe, I’m hoping we have a mild winter 🥶
Still won’t help those who can’t afford to switch the heating on now though. Also still sucks that some will pay more than others. The standing charge and unit rate should be the same no matter how you pay for your services, and in reality, someone on a prepayment meter should get a discount since they are paying for their energy in advance and the energy company doesn’t have to cross their fingers that they’ll get paid unlike other methods of payment that work on credit/debt or quarterly billing. Also why do WE the taxpayer have to pay back this subsidy on our bills, if I go to the bank and borrow money I have to pay it back, they don’t expect my neighbour to pay it for me, same should apply here, the energy companies should pay back these loans/subsidies when this is all over, not us.
I read the following, recently, that indicates that companies producing energy at the cheapest rate, sell it at the same price as companies that produce it at the most expensive rate. Perhaps Martin can investigate this, as it seems that, for the past several years, my energy from renewable sources was legally overpriced. “The price of generating electricity varies greatly. Gas at current spot market prices costs about £611 per megawatt hour (MWh). Nuclear is about £60 per MWh, hydro £50, and £50 to £140 for on and offshore wind and solar. The electricity delivered to our houses is from a mix of all these sources. Bizarrely, that’s not how the wholesale price is set here. It is decided on “marginal costing”, which works against consumers’ interests right now. It means the wholesale energy price is set so the most expensive producer can make a profit from the sales they make into the wholesale energy market. Gas produced electricity is the most expensive to produce - and likely to remain so for a long time. Its manufacturing cost, plus a fair profit margin, sets the wholesale price for all electricity, however it is generated. It also means nuclear, hydro and renewables producers are paid the price that the gas generators get. This makes no sense at all.”
Thank you Barry. So... if I set up a company that provides energy even more expensively - can I make a profit and increase further the amount everybody pays for that energy?
That’s how the market for everything works, you sell your product for as high a price as you can get. There is a shortage of supply which ramps up the price, this is driven by the gas price as the total demand is more than the total supply.
@@Tom-ih8gr Why is the UK exporting 75 million cubic meters per day to Europe if there is a shortage? How is it able to do so? There is no shortage. Among the other things said by government yesterday was that the Britain intends to become a net exported of energy by 2040 - where is that energy going to be found if it cannot be found now? Maybe from wind and solar farms, which currently provided a combined total of 3% of the energy produced ?
Exactly the increase we pay is not based on the production cost but falls in the hands of the free market place , so basically in Britain it seems we pay a market rally on the energy stock exchange. It's amazing how no one still clarify Britain's energy resources. Of course there is an overall effect from Russia cutting supply off, but countries that where not dependent from mother Russia could be more effective on price control.
No sense at all, I agree. It's because these people put capital in front of everything, detached from the real material world. A price is based solely on whatever you can get away with, while covering costs. I too was on an energy provider that claimed they were 100% green with electricity generated from renewable sources. Turns out it's just a financial scheme they pay into "green projects" to offset the energy they buy from undisclosed sources. The national grid is not separated according to the source, there's no way to discriminate. They buy the energy they sell us, they don't produce it or control production.
I like how Martin said at the end 'I hope that's been useful'. He is practically the most important person in the UK, fighting for the average person. Martin, you've been the most useful person in almost everybody's life since you vowed to get back at the injustice dished out to us by banks, governments and other businesses.
So, as usual, businesses and those with the largest homes, will benefit the most from these caps. Paid for from public borrowing, therefore general taxation. Energy companies will continue to see their profits rise exponentially, with no increase in taxes on their obscene profits. Working people getting screwed over whilst the rich get richer once again. Start as you mean to go on Truss.
It's called conditioning. Induce fear and raise a price so they can lower it (to a still extortionate price), then look like the saviours while we still pay through the nose.
Thank you Martin for all your hard work on this. I have no doubt that you have made a big difference by bringing so much attention to this and lobbying on behalf of us all 🙏
I've been considering having my electricity supply shut off completely (I don't have gas) and finding some other way to live. For the past 12 years I've been managing to exist on a tiny annual budget of £800 [eight-hundred quid] per year. I use no more than 280kWh of electricity annually [two-hundred and eighty per year]. I live alone in an old [1913] 2-bedroom terraced house in Yorkshire. I had a free Smart Meter fitted a few years ago; it works. I've had no problems with it. Back when I could choose a zero-standing-charge electricity tariff I was pretty happy. Bills could be kept tolerably small [e.g. £60 per year]. I don't have any form of heating whatsoever or a fridge (I just wear lots of clothes when I'm cold, and the house has an old-school cellar which will keep food fresh for up to a week for free) so my power usage is basically a kettle (daily cuppa) and one hot meal a day cooked on an induction hob. In the past few years four (4!) of my 'poverty-spec' electricity suppliers have gone bust. I'm currently with 'SO Energy', but ALL the tariffs from ALL the companies have had a standing charge slapped on them. My annual bills have doubled. It's ludicrous. I can't even afford to use NO electricity! My last 2-year fixed tariff expires in November 2022; I shudder to think what deals will be available then. The government's £400 bill reduction would have been a tremendous help and seen me through at least three years before the recent outrageous price hikes; now I suppose it'll be swallowed up in a year by the standing charge even if I use no power at all. So... It'd be nice to have my supply cut off, cook my meals and boil a kettle on a DIY wood/charcoal stove in the back garden, and to be able to tell the power companies where to go, but I imagine the disconnection fee would be several hundred pounds. Sigh.
My son was thinking of doing the same sort of thing until I reminded him of the 'standing charge'. It's a con! Good luck to you whatever you do. We all need to be moving towards a simpler life
Set up a small 'caravan' type solar system, just to run some lights /charge a phone etc so you feel that you have some comforts in a long dark winter. Wood heater for winter heat. Sorted
Be careful, there are health complications that come with the cold air. It's not just about staying warm coz you are breathing the cold air. You would be better getting another job and using the electric/gas or getting a wood burner I think.
@@domsumner7307 As long as ones core temperature is good I'm not aware of any health complications come with breathing cold air. Do you have any evidence for that?
@@TONE11111 Yes it was the same supplier. I think most of the fixed deals are to existing customers. Martin Lewis's site actually strongly recommended the British Gas deal I went with based on the figures. I should have waited to see if there was a political solution but Liz Truss kept saying she would help the most vulnerable so I didn't think she would help everyone. However this help is much better than the fixed deal so I'm hoping to exit without paying. If necessary I will have to pay the exit fee it but the indications are I won't have to.
I know that Mr Lewis has already commented briefly on the situation that I find myself in, but I find it curious that I have been on 100% renewable electricity for years and yet my electricity unit rate will increase in October. I read that the cost of production of such green energy has actually been decreasing so how is it that I am now going to be paying more? Doesn't this expose the whole green energy market as presently set up as a sham?
Who knew that it's all about making money not about reducing carbon emissions? See also - Scotland cutting down 14 million carbon capturing trees to make way for wind turbines.
It is very complicated but simple explanation is that the price of renewables is actually set by the price of gas (strange I know) so as you say the price for wind produced electricity should not have gone up as wind is free. But it has and the generators of wind electricity and govt have benefited from this. The gov are looking to change this and delink the prices which will be a great improvement.
So …how do you actually think the electricity you receive at your meter knows it is R”Renewable”? Is there a different network for the wind produced electricity ?😂😂
How the heck does this help those folk who cannot afford to put the heating on in the first place ? This will be the fourth year that I will not be putting the heating on.
this roten female were not put it there for to HELP THE BRITISH CITIZENS ONLY AUSTRALIA AND THE ROYALS IN HOLYWOOD their own kids which lead the world to sadism against the white race and MOST CHRISTIANS BRITISH. THIS HAS BEEN ON FOR AGES. AT LEAST IN THE PAST 100 YEARS. WHEN FEMALES IS ELECTED THAT MEANS SLAVE THE ORIGINAL CITIZENS TO DEATH OR NEARLY FOR NOT TO GET IT TOO VISIBLE FOR THEM WHAT IS GOING ON.... ROTEN LIKE A HELL
The fixed amount handout (gratefully received) does not help lower usage consumers as much as suggested because the standing charge is so much higher - I have got my gas use down to zero but ALREADY pay £120 a year currently for NOTHING, and that is just gas. How do I get out of that? I'll bet that standing charge increase will cover the shortfall !!!
Both Ofgem and standing changes should be be done away with 👏👏👏👏 standing charge as it’s known today was once called meter change 🤔 but so many people were complaining they changed the name,
They have already forgotten that part. Mine jumped a huge amount and now again it’s going u. There is no way any business has their costs increase by 300%.
The £2500 average is based on typical use which is (according to Ofgem) 3100 units electricity, 12000 kwh gas per year. As Martin has said many times, if you use more, you pay more.
Many pensioners who have a small private pension from local authorities for example did not get that £600 the same if you have been frugal and planning for retirement having over £10,000 in savings. so if you have been getting by being just above the thresholds for any benefit you were stuffed.
I know bloody annoying isn’t it I miss out as I have a small private pension and I’m 2years off pension age so no extra there either they’re just encouraging you to spend all your money don’t provide for your old age we will
Yes the feckless get all the help going but if you have been careful and worked hard payed your taxes all your life you get next to nothing I feel iv been made a fool of
@@paulinepress3024 Dear Pauline, IN 2009 2 men attacked me, attempted murder, I died 3 times, 8 ops in 7 days, 13 years later I take 56 tablets a day and had worked every day and I was a martyr like you paying taxes, as someone who is Feckless, thank you so much for your assistance and support. And no one has been caught. SUCH A NICE HUMAN YOU ARE
The way around it. Phone up the bill company and tell them to come collect the money. You are not required by law to pay by bank, post office, or via card over the phone. If they want their money they can come and collect it. This will cost them millions employing people to collect and the fear of the collectors being mugged. They will soon bring the price down.
@@robmontier639 If everyone makes a stand they'd have to bring down the price. They won't want to employ thousands of people to collect cash. We are not talking about a few pounds but hundreds from each household. It would cost them millions. . It would be better for them to take notice and drop the prices
@@richardjones8699 oh, so you think the real world is just to pay as normal via bank, post office etc? If they want their money, let them come collect the f*^ker. They can't take you to court for not paying as you'd not be refusing to pay. It would be a ball ache to employ people to collect from each household.
Many people's annual bills have doubled (under this new figure), some have tripled. That's STILL unaffordable for many on benefits/lower incomes. Additional targeted support will still be needed.
It's still the biggest distribution of wealth in most people's lives..words cannot express the anger and frustration all people feel...utterly disgraceful?
Yeah,we are distributing it straight to the rich. Why don't tax the companies makin huge profits on war? What distribution you are taking about? Our kids will be paying it for decades, how can you call it distribution of wealth?
how much will an illegal immigrant who travelled through 10+ safe countries to get to the U.K and is staying in a nice hotel have to pay for their energy?
You can just worry about your mortgage now as interest rates will now rise sharply as the money markets will lose confidence in the UK for borrowing so much.
Martin, thank you for explaining; I already knew, but a great many do not. I think you're doing a tremendous job *that is so useful!* Best wishes from Wendi UK 🌻🌻🌻
We are all electric with night storage heaters and using Economy 7 (a slightly higher day rate than the normal variable and a much cheaper night rate). How will this be affected please?
No, this is not a relief in any way! This will ultimately be a disaster for everyone! The current Debt to GDP ratio of The British Union is just over 100%. Current debt stands at well over one Trillion that is causing massive increases in inflation that is in turn reducing the purchase value of the £ and destroying your savings! To service this long term price cap, the State will have to create more currency (the magic printing press) which will reportedly increase the debt to over 3 Trillion! Inflation will continue to rise quickly. Everything will become increasingly expensive and we will probably enter a recession. The creation of this huge debt has, of course all been based on LIES!
When I looked up the previous unit rate, it had a footnote that it varies from area to area with no link to where I can find out the cap for my area. So not much use really.
1. Prices are double what they were last winter. 2. Giving £400 off energy to those that can afford £2500 is insane. 3. She's getting the country into massive debt. 4. Businesses have no idea whether help is coming or how that will work. 5. Prices of everything will rise anyway because she hasn't helped businesses at all. 6. My business has done a 3rd of the turnover it did last year as people are terrified to spend money.
A decade of wage stagnation and then this, people have not got the spending power of over a decade ago and it’s looking like it will be two decades of decreasing spending power.
I sell collectible action figures online. My British customers have stopped buying this year but the Europeans, Australians and Americans are still paying my prices + shipping.
@@alfsmith4936 I used to collect particular figures and I have had to stop and am now looking at cataloguing them and selling them because we need the money to survive. I will only get 40% of their value tops sadly but needs must.
@@barrydoherty636 I just feel £150bn is unaffordable for future generations and middle classes don’t need the subsidy and energy producers could pay more out of their windfalls - Martin Lewis knows that better than most
The eye-watering sums that Truss and Co are about to borrow will have to be repaid in the future. This means her action is simply a postponement of the day of full reckoning. As we will all struggle to cope with the immediate rise in energy bills right now, what the hell will we have to stump up when the borrowing bill has to be repaid by all of us?
I grew up in the 60's in an old Georgian house with Large rooms and high ceilings, solid walls, v old single glazing, draughts and no insulation to speak of. We had one fire in the 'living room, and a rarely used 3 bar electric heater in the 'good room'. I remember being cold, sometimes having a hot water bottle at night, wearing jumpers. But that was normal. The first home I bought was similar and we brought up 4 kids in it. Whilst I don't wish to belittle the financial challenges facing most people this winter, I do believe its forcing us into facing up to modern our modern over consumerism. We'll have to turn down the heating, only have it on in one room, make some draught excluders, tape up windows ( all the things we used to do), using less energy is good for the planet. People are going to have to think ( as I'm having to do , being retired) about what I spend money on. This is a global problem and I'm just glad i live in a country wiling and able to offer some help.
@@richardjones8699 some maybe, its summer, come winter I suspect people who have grown up with plentiful central heating have a different perspective on what's warm enough than was the case in the past. I have. We're going to be forced to change though.
@@ianmatlock1 you remind me of the Government Minister who said everyone should wear an extra jumper. He was roundly ridiculed too. The very fact that your comment has got just '3' likes (after an hour +) should tell you something as to what people think of it - many others are in the hundreds of likes.
@@iearl504 so I presume you have a crystal ball,do you believe everything you read in the UK media circus,oh by the way in case you missed it I was talking about France😂
@@gerrypowell2748 you were referring to Brexit obviously , but all is not well in the EU hence me mentioning Germany. Sorry to poke holes in your silly little delusions
Reminds me of a double glazing salesman quoting, say, £6000, and then when you question it it's suddenly 'discounted' by a further £2000 and you're supposed to be grateful ! Truss, you haven't done anybody any favours, well, maybe the energy companies are happy with this guaranteed profit. Where's all this money coming from and how/when will we be paying it back???
I’m with British Gas and live in North Wales. My energy rates have just been changed to: Elec unit rate from 29.584ppKwh to 35.982ppKwh (21.63% increase) Elec daily charge from 47.581ppd to 48.594ppd (2.14% increase) Gas unit rate from 7.365ppKwh to 10.343ppKwh (40.43% increase) Gas daily charge from 27.22ppd to 28.485ppd (4.65% increase) Is this what the nation is facing? Hope this is of interest to someone. It’s going to be a tough winter.
These "average" rates and caps are all very well, but consumers in certain areas pay more (or less) for electricity and gas, even though the supplier operates nationally and apparently at the supplier's discretion - so the cap is seemingly not really fixed at all - BUT I can see consumers' in former cheaper areas being rounded upwards - could mark the end of regional pricing. MR LEWIS PLEASE SCRUTINISE CAUSE OFGEM DON'T..
Indeed. Regional pricing ….. So you can end up with a customer in IP9 paying 33ppkwh for electricity and a customer in N13 paying 25ppkwh. There needs to be a National cap on the unit rate and no energy company can exceed it. That is not happening and never will
Blanket cap is to fool all. It should fixed unit price cap and it is up to consumers to decide which suppliers to go for their energy. Linking gas price to electricity prices is also wrong.
Does this mean if the cap is in place for 2 years. That for 2 years that's basically the price even if the price of energy drops substantially for the provider they can still charge that same premium?
Sounds positive. I don’t understand anything that is being said; but Martin’s tone sounds positive. I just pray for Bank of England base rate interest rate to go down now. 🙏🏽
My cynical mate reckons this was always the plan. Tell everyone prices are going to skyrocket come October only to freeze them before hand. Tories look like heroes and energy companies can shareholder can have their fill from the pig's trough.
Tories don't look like heroes with the final bill going on general taxation and not being paid by the energy industry out of the £170billion they're going to make from us.
The WEF has said that people have too much money and money = power, so this energy price rise and the inflated price for food are 2 of the ways of taking it off of us. There are more ways coming.
Thanks Martin, we just need to know what the kw per hour will be on electric when it comes out so we can phone up our electric people. Your great. Thank you ❤️
It helps but big business wins again. The profits they are making are obscene. This is an extraordinary situation with the war in Ukraine and the government should be using extraordinary powers to ensure its people do not suffer at the expense of the oil companies.
Natural Gas has risen 600% due to the Moronic Sanctions on Russia and now the Moronic Ukrainian Flag waving public want to blame energy companies for profiteering when many of them are on the verge of bankruptcy.
Thank you Martin for all your raging at and shaming of this disgusting Tory government and this Cost of Tories Crisis, if it wasn't for people like yourself with such a large platform i shudder to think if this regime would have done very much at all to help. Thanks man.
@@adamrobson2423 If Labour got in in 2019 are energy would be Nationalised by now and we would have control over it instead of spaffing another 170 Billion of Tax payers money to the private Energy Shareholders, most of them abroad, so obviously we wouldn't be in this insane position right now no.
What about house holds that use coal as there only main heating and also our hot water as we do are coal in west wales has gone up to £23 a bag my family in England pay £15 a bag I have COPD my husband is also disabled and we use 5 bags a month do we get any help 🤞🤞
Profits keep rising yet they say the price hikes are to cover increased costs, the the tax payer has to cover the loans taken by the government to keep the enregy companies profits at record breaking levels. how is this allowed to be!?
I want to see how much is loaded onto the standing charge under the new charge. Under the August price cap announcement it was only 1p extra on gas and electric, if it’s a lot more on the new cap we’ve been screwed over. Keep an eye on that. On the face of it the big winners are energy retailers who now know they won’t have any cash flow problems for the next two years, and BP and Shell who can make as much excess profit as they like and the Government won’t touch a penny of it.
My daily standing charge on the new Standard Tariff from SSE (the standard tariff is the only one offered by SSE ) has doubled from 24p per day to 48p per day. I am a low user of elec. so the standing charge is over half my quarterly bill. It's robbery.
All of this information is on the gov.uk website: Average standing charges will remain in line with the levels set by Ofgem for the default tariff cap from 1 October, at 46p per day for electricity and 28p per day for gas, for a typical dual fuel customer paying by direct debit.
The Prime Minister has done as little as she could, by giving the provider a customers promise to pay (LOAN NOT A LOAN) the full costs regardless of how high the rate can go (4% in France - 400% in the UK). So we'll be paying this debt off for many years with interest in the likes of a credit card for the providers. Why not if there is £150Bn nationalise the companies then when paid off the profits can be put back into the Gov? #EnoughIsEnough #GTTO #NHSpay15
Who else is going to pay it? Govt aren't responsible for global pricing unless your complaint is the UK hasn't extracted fossil fuels more and invested in nuclear enough.
in UK we have power generation that has NOT increased in costs yet we do not get that electric at a lower price to UK people. Solar wind hydro and nuclear none of which needs gas or oil imported in to the uk to produce electricity. All that is happening is the energy companies are screwing with out reason the people of the UK.
@@jimwest7107 You may have noticed that Shell & BP haven't contributed taxes as a company for many years. Employers don't have a choice. We have an abundance of CH4 beneath our feet especially now all the coal mines are closed. Very little has gone to renewables, why? Nuclear isn't our answer, unless they build micro units per city say. We import only 4% gas, so why the increase of 400% for both energies? France has sustained a 4% increase because they have nationalised the rest of there providers. I pay my fair share, why not the companies who have given £17Bn to Conservatives over the years? For the few, not the many.
@@jimwest7107 This Gov set up the Ofgem www.ofgem.gov.uk/check-if-energy-price-cap-affects-you who set the fixed prices. Why have they changed from protecting the customer to the provider? Just the same as when the banks treated us all as cash cows with insurance fraud, they kept them afloat with our taxes. What's different now? Why no Quantitive easing for the non tax paying providers?
OILS 72$ A BARREL ENERGY SHOULD BE ALOT CHEAPER , ALSO ENERGY COMPANIES ARE MAKING TOO MUCH MONEY BY NOT ADJUSTING THERE UNIT PRICE TO THE CURRENT OIL PRICE , SO THE GOVERNMENT SHOULD FORCE THEM TO LOWER THE UNIT PRICE IF THEY REPRESENT THE PEOPLE
They scare you with £5000 only to have you happy with £2500 which is double what you paid before. Not to mention we are still paying the energy companies the difference. Typical slight of hand .You must be mad if you are happy with this.😵💫
You have hit the nail right on the head, aren’t your lucky having your bill doubled , f;:king bullshit,
Amen. Pretty much what I told my partner today after the announcement of £2500...
Yes I agree.. The great con has been accomplished with a degree of finesse too, :- making people wait weeks for 'salvation' so they are more likely to accept todays thin gruel. I suspect they became concerned by the huge backlash following the recent cap lifting announcements and realised they had gone too far.
Very true.
Nail On head
Thanks for all your hard work Martin! I’m sure everyone appreciates what you’ve done
Martin Lewis is a National hero? ua-cam.com/video/-RygZYHQSUE/v-deo.html
Did he get the government to do something? No.
This guy is a multi millionaire who gets kick backs from amazon, Tesco and the like...... from his website.
He's no hero.
I wish more people could see he's just part of the establishment. He does nothing but promote and encourage government schemes and big organisations.
@@sammyj3048
JUS ANOTHER ALEX BELLFEILD
THE VOICE OF REASON....
YH RIGHT
@@juniusvindex769 evidence please
It's still far too expensive. We cannot afford the cost now, never mind when winter sets in. So still no heating for us this winter.
What are you doing to resolve that? Is that really it? "too expensive ... i give up. no heating for us this winter." wow.
@@SuperRand13 What a bellend. You have absolutely on idea what the posters circumstances are.
@@SuperRand13 it’s not for us to resolve.
@@SuperRand13 any ideas on what they should do?
people have to /should try & help themselves a little bit more .i bought a plugin throw 2 years ago sit watching tv like a slice of toast total cost in electricity 1pence per day . dont depend on someone else all the time
In Parliament it was stated that the energy producers will make £175bn EXTRA in windfall profits over and above the profits they expected to make. A 100% windfall tax could GIVE every household in the UK (all 28 million of them) a 4kw solar PV array with 3.6kwh of lithium batteries (total cost £6250 each). That would give every household 4000kwh of free electricity every year for the next 25 years. The average household uses 3760kwh a year. They never want to talk about domestic solar PV with batteries. I wonder why?
The more the government intervenes the worse the cost-of-living crisis gets. ua-cam.com/video/eaLbbaljlAo/v-deo.html
Even smaller arrays with batteries to charge electricity cars instead of all pulling off the grid at 6pm when you get home. I dont think they are interested in solutions only money to be made from the problem.
Solar is not the best choice for the UK, other than a few months in summer. I hear that money would be better spent on wind and tidal and leave the solar for those with a more equatorial outlook. Also Lithium is not that plentiful, expect cost to skyrocket with that sort of demand.
Where do you get the parts to make the solar? Just a different country to be subject to.
It’s like telling China in the 70’s everyone must have a car and a tax if 20% of annual income for a bike tax.
My latest gas and electric bills were £350 combined for the month funny as I have not used any Gas since May but they insist I pay I told them no and will not. If the price cap comes in October my bills will be over 500 a month and I am a single parson living in a one bed flat. How is this even affordable still for the majority of people?
Are you on a tarif where you pay the same each month? In which case you’ll be in credit. But you may prefer to change to a variable if you don’t want to pay for gas when you’re not using it.
Change gas and electricity company to outfox the market check them out you won’t be sorry compare the numbers .. you have nothing to loose
My 4 bed house ( 12 yrs old ) gas and electric is £ 80 per month fixed until April
I’d question the fairness of what you’re being charged by your supplier. That’s about £140 more than my last combined bill, and I live in a 4-bed house with a family of 6. I currently pay £160 for gas and £90-something for electric.
Not possible. Unless you are just careless with your usage. We have an old large 6 bed house, last month we paid 150 for a family of 4. In the winter it will be higher though when we use start using the heating
It's disgusting that Truss won't hit the oil and gas companies with a windfall tax, despite the record profits they've "earned" throughout this crisis. So they'll just add the full cost on to the debt the peasants have to pay off through taxes. 🙄
@@dwatts670 BP have already said a windfall tax won't impact their future investment programme at all. Maybe you should do some research yourself!!
@@dwatts670 ? A handout 🤣
@@richardjones8699 Was just about to reply with exactly this! 🤛
@@dwatts670 Firstly - nonsense they are paying £5bn "windfall tax" - it was stated they stand to make £175bn in excess profits above what they expected to earn.
We don't need "future investment" in fossil fools - we need PRESENT investment in renewables. For the £175bn they will steal from the British people we could GIVE every home in the UK (all 28 million of them) a 4kw solar PV array and 3.6kwh of lithium batteries (£6250 per household). That would save households £2500 a year - every year for the next 25 years. The £5bn windfall tax so far has been handed to people as £400 off their energy bills - which means it goes STRAIGHT back to the energy corps for something they were war profiteering on in the first place.
@@dwatts670 Wow. You are a perfect subject.
Martin honestly I can’t thank you enough for all of your hard work over the years. The difference you’ve made to so many peoples lives including my own is invaluable. You really are one of a kind.
😂😂😂😂😂😂👌
Sadly he misses the elephant in the room. Which is the fact that the Bank of England creating £150BN for the Treasury is extremely inflationary.
@@everready800 He did not miss the "elephant" he was told to ignore it by his masters....
@@andreahodson7031 LOL probably! How can someone be so clued up about money and also be oblivious to the real effect of all this big government borrowing.
@@everready800 The goverment created billions to cover the infection and it caused inflation..but this £100 odd billion will reduce inflation..work that one out
Surely we’re not seeing this as a victory? £2,500 is still an absolute joke and at the cost of £140 billion that’ll have to be paid back in taxes, it’s not exactly a solution at all
In Parliament it was stated that the energy producers will make £175bn EXTRA in windfall profits over and above the profits they expected to make. A windfall tax of £140bn would still leave them with £35bn over and above what they expected to make.
Its not a joke, it's a reality and so not as bad as it would have been; and at least the government has helped. Can please people stop worrying,stop complaining and just be more grateful!!! It's very concerning that people can't accept difficult times, yet a previous generation went through war. This generation is weak, childish and complain all the time, it needs to get a grip and grow up!
@@RAPTUREATTWILIGHT This is satire right? Please tell me it’s satire before I lose even more faith in this country
There is no immediate "solution", only trade-offs. We're in a proxy war with Russia after all.
@@RAPTUREATTWILIGHT SPOT ON. People need to get in the habit of taking any Government Action above the normal as a bonus and focus on doing more for themselves. Energy Crisis is NOT a problem created by us. People forget money doesn't grow on trees, and the deficit being created with all this support will be ultimately paid back by the Tax Payer. I'm sure, those on benefits who are probably on it out of choice rather than need don't really care, since they simply have us to pay for their bills.
Martin, it is still a 27% increase in the actual cost per kwh in October so that one off payment of £400 might lower the percentage rate to 6.5% on the average yearly cost but for families who use more than the yearly average like our family of 6, it will still be an expensive proposition since we use about £2500 per year on electricity alone at the October rates which i am estimating to cost 34p per kwh on electricity.
We only use our gas central heating through 4 to 5 months of the year but i expect the gas to cost £2500 per year.
I have thought about a biomass pellet boiler but unbranded pellets now cost about £600 per ton and i estimate 3 to 4 tons per year to heat the home so not much of a saving there unless we could get the renewable heat incentive payments which i suspect the government will make it difficult to claim the payments to begin with and will start to phase out the scheme eventually.
I was disappointed that our government said nothing about separating the price rises of electricity from the rises in gas prices since the cost to generate electricity is cheaper than the wholesale price of gas.
Allowing the cost of electricity to rise in line with gas will add to the cost of everything that is manufactured and increase inflation further.
They will block us using any alternatives
Thanks, Martin. Your service to your country is greatly appreciated.
Yes, spending the last 20 years getting people to borrow on 0% credit cards and then switching every few months has helped people accept debt in a way that was never thought possible.
Irrespective of Mr Lewis personal wealth he has championed on behalf of the vast majority of the British public that were being traumatised by rising energy bills. His input has had an effect and for that I am very grateful 👏.
he has made it clearer,thanks Martin.
Well said, Ian, I pay £183 a month now for both gas/electric, I’m on my own I can’t afford anymore, I certainly won’t be having the heating on, only when it’s so cold the pipes will be safe, I’m hoping we have a mild winter 🥶
Still won’t help those who can’t afford to switch the heating on now though.
Also still sucks that some will pay more than others. The standing charge and unit rate should be the same no matter how you pay for your services, and in reality, someone on a prepayment meter should get a discount since they are paying for their energy in advance and the energy company doesn’t have to cross their fingers that they’ll get paid unlike other methods of payment that work on credit/debt or quarterly billing.
Also why do WE the taxpayer have to pay back this subsidy on our bills, if I go to the bank and borrow money I have to pay it back, they don’t expect my neighbour to pay it for me, same should apply here, the energy companies should pay back these loans/subsidies when this is all over, not us.
Yes, not so sure about this, or Martin TBH ua-cam.com/video/-RygZYHQSUE/v-deo.html
The 400 subsidy is now NOT REPAYABLE
Govt can only do so much. The Labour Windfall tax would only have delivered a very similar cap too.
So… do both?
How and when do we get the 400 subsidy?
I read the following, recently, that indicates that companies producing energy at the cheapest rate, sell it at the same price as companies that produce it at the most expensive rate. Perhaps Martin can investigate this, as it seems that, for the past several years, my energy from renewable sources was legally overpriced.
“The price of generating electricity varies greatly. Gas at current spot market prices costs about £611 per megawatt hour (MWh).
Nuclear is about £60 per MWh, hydro £50, and £50 to £140 for on and offshore wind and solar.
The electricity delivered to our houses is from a mix of all these sources. Bizarrely, that’s not how the wholesale price is set here.
It is decided on “marginal costing”, which works against consumers’ interests right now.
It means the wholesale energy price is set so the most expensive producer can make a profit from the sales they make into the wholesale energy market.
Gas produced electricity is the most expensive to produce - and likely to remain so for a long time. Its manufacturing cost, plus a fair profit margin, sets the wholesale price for all electricity, however it is generated.
It also means nuclear, hydro and renewables producers are paid the price that the gas generators get. This makes no sense at all.”
Thank you Barry. So... if I set up a company that provides energy even more expensively - can I make a profit and increase further the amount everybody pays for that energy?
That’s how the market for everything works, you sell your product for as high a price as you can get.
There is a shortage of supply which ramps up the price, this is driven by the gas price as the total demand is more than the total supply.
@@Tom-ih8gr Why is the UK exporting 75 million cubic meters per day to Europe if there is a shortage? How is it able to do so? There is no shortage. Among the other things said by government yesterday was that the Britain intends to become a net exported of energy by 2040 - where is that energy going to be found if it cannot be found now? Maybe from wind and solar farms, which currently provided a combined total of 3% of the energy produced ?
Exactly the increase we pay is not based on the production cost but falls in the hands of the free market place , so basically in Britain it seems we pay a market rally on the energy stock exchange. It's amazing how no one still clarify Britain's energy resources. Of course there is an overall effect from Russia cutting supply off, but countries that where not dependent from mother Russia could be more effective on price control.
No sense at all, I agree. It's because these people put capital in front of everything, detached from the real material world. A price is based solely on whatever you can get away with, while covering costs. I too was on an energy provider that claimed they were 100% green with electricity generated from renewable sources. Turns out it's just a financial scheme they pay into "green projects" to offset the energy they buy from undisclosed sources. The national grid is not separated according to the source, there's no way to discriminate. They buy the energy they sell us, they don't produce it or control production.
I like how Martin said at the end 'I hope that's been useful'. He is practically the most important person in the UK, fighting for the average person. Martin, you've been the most useful person in almost everybody's life since you vowed to get back at the injustice dished out to us by banks, governments and other businesses.
So, as usual, businesses and those with the largest homes, will benefit the most from these caps. Paid for from public borrowing, therefore general taxation. Energy companies will continue to see their profits rise exponentially, with no increase in taxes on their obscene profits. Working people getting screwed over whilst the rich get richer once again. Start as you mean to go on Truss.
Prices for domestic customers on standard variable rate tariffs are capped, but there's no such energy price cap for businesses.
Same old, same old. Socialism for the rich, capitalism for the poor.
@@piggypiggypig1746 Truss announced on the same speech businesses and companies will have help from the government, but didn't go into detail.
Exactly, I'm glad someone gets it👍It'll cost the same to heat and light a 10 bed mansion, as it will a 2 bed semi.
Oh yay! So they got what they wanted all along! And we are to feel grateful that they bought the price down… just for us ❤️
It's called conditioning. Induce fear and raise a price so they can lower it (to a still extortionate price), then look like the saviours while we still pay through the nose.
Thank you Martin for all your hard work on this. I have no doubt that you have made a big difference by bringing so much attention to this and lobbying on behalf of us all 🙏
Very clear summary, thank you ! A little bit of relief, but still tough times for many households who are already struggling
I've been considering having my electricity supply shut off completely (I don't have gas) and finding some other way to live. For the past 12 years I've been managing to exist on a tiny annual budget of £800 [eight-hundred quid] per year. I use no more than 280kWh of electricity annually [two-hundred and eighty per year].
I live alone in an old [1913] 2-bedroom terraced house in Yorkshire. I had a free Smart Meter fitted a few years ago; it works. I've had no problems with it.
Back when I could choose a zero-standing-charge electricity tariff I was pretty happy. Bills could be kept tolerably small [e.g. £60 per year]. I don't have any form of heating whatsoever or a fridge (I just wear lots of clothes when I'm cold, and the house has an old-school cellar which will keep food fresh for up to a week for free) so my power usage is basically a kettle (daily cuppa) and one hot meal a day cooked on an induction hob.
In the past few years four (4!) of my 'poverty-spec' electricity suppliers have gone bust. I'm currently with 'SO Energy', but ALL the tariffs from ALL the companies have had a standing charge slapped on them. My annual bills have doubled.
It's ludicrous. I can't even afford to use NO electricity!
My last 2-year fixed tariff expires in November 2022; I shudder to think what deals will be available then. The government's £400 bill reduction would have been a tremendous help and seen me through at least three years before the recent outrageous price hikes; now I suppose it'll be swallowed up in a year by the standing charge even if I use no power at all.
So... It'd be nice to have my supply cut off, cook my meals and boil a kettle on a DIY wood/charcoal stove in the back garden, and to be able to tell the power companies where to go, but I imagine the disconnection fee would be several hundred pounds.
Sigh.
My son was thinking of doing the same sort of thing until I reminded him of the 'standing charge'. It's a con! Good luck to you whatever you do. We all need to be moving towards a simpler life
Set up a small 'caravan' type solar system, just to run some lights /charge a phone etc so you feel that you have some comforts in a long dark winter. Wood heater for winter heat. Sorted
Be careful, there are health complications that come with the cold air. It's not just about staying warm coz you are breathing the cold air. You would be better getting another job and using the electric/gas or getting a wood burner I think.
@@domsumner7307 As long as ones core temperature is good I'm not aware of any health complications come with breathing cold air. Do you have any evidence for that?
Wow, that’s so inspirational £800 a year. Fantastic
Thanks so much Martin! Thank you for clarifying about the fix. I fixed only 3 days ago so I'm relieved to hear I can leave without being charged.
@@TONE11111 Yes it was the same supplier. I think most of the fixed deals are to existing customers. Martin Lewis's site actually strongly recommended the British Gas deal I went with based on the figures. I should have waited to see if there was a political solution but Liz Truss kept saying she would help the most vulnerable so I didn't think she would help everyone. However this help is much better than the fixed deal so I'm hoping to exit without paying. If necessary I will have to pay the exit fee it but the indications are I won't have to.
I know that Mr Lewis has already commented briefly on the situation that I find myself in, but I find it curious that I have been on 100% renewable electricity for years and yet my electricity unit rate will increase in October. I read that the cost of production of such green energy has actually been decreasing so how is it that I am now going to be paying more? Doesn't this expose the whole green energy market as presently set up as a sham?
Who knew that it's all about making money not about reducing carbon emissions? See also - Scotland cutting down 14 million carbon capturing trees to make way for wind turbines.
It is very complicated but simple explanation is that the price of renewables is actually set by the price of gas (strange I know) so as you say the price for wind produced electricity should not have gone up as wind is free. But it has and the generators of wind electricity and govt have benefited from this. The gov are looking to change this and delink the prices which will be a great improvement.
Alternatively I could answered no it is not a sham
So …how do you actually think the electricity you receive at your meter knows it is R”Renewable”? Is there a different network for the wind produced electricity ?😂😂
The whole green energy thing is a total con. Please do not fall for it
Just heard you on LBC, thank you Martin for everything you are doing to help us with this energy crisis 😊
Really? Martin Lewis is a National hero? ua-cam.com/video/-RygZYHQSUE/v-deo.html
How the heck does this help those folk who cannot afford to put the heating on in the first place ? This will be the fourth year that I will not be putting the heating on.
If you havent done in four years mate your heating probably doesn’t even work anymore
Maybe you'll think twice about the sanctions now eh
@@iearl504 What are you on about clown 🤡
you can obviously afford internet and a phone which are more important than heating lol
this roten female were not put it there for to HELP THE BRITISH CITIZENS
ONLY AUSTRALIA AND THE ROYALS IN HOLYWOOD their own kids which lead the world to sadism against the white race and MOST CHRISTIANS BRITISH. THIS HAS BEEN ON FOR AGES. AT LEAST IN THE PAST 100 YEARS. WHEN FEMALES IS ELECTED THAT MEANS SLAVE THE ORIGINAL CITIZENS TO DEATH OR NEARLY FOR NOT TO GET IT TOO VISIBLE FOR THEM WHAT IS GOING ON.... ROTEN LIKE A HELL
Thanks Martin, you have been a Godsend to us in the UK.
You're doing very important work here. Getting a clear conceptualisation in plainspeak, invaluable. Thank you sir.
The fixed amount handout (gratefully received) does not help lower usage consumers as much as suggested because the standing charge is so much higher - I have got my gas use down to zero but ALREADY pay £120 a year currently for NOTHING, and that is just gas. How do I get out of that? I'll bet that standing charge increase will cover the shortfall !!!
It's a miracle
get rid of the gas meter, the amount your paying(standing charge) is for the rental of the meter
Both Ofgem and standing changes should be be done away with 👏👏👏👏 standing charge as it’s known today was once called meter change 🤔 but so many people were complaining they changed the name,
@@TONE11111 If only 🤣
:-(
Let's not forget the price cap has risen 54% already.
They have already forgotten that part.
Mine jumped a huge amount and now again it’s going u.
There is no way any business has their costs increase by 300%.
The £2500 average is based on typical use which is (according to Ofgem) 3100 units electricity, 12000 kwh gas per year. As Martin has said many times, if you use more, you pay more.
Or if you use less you pay less
WTF I WAS ONLY USING £400 A YEAR , WHEN I WAS USING GAS IT WAS £1.50 DAY IF YOU LEFT IT ON 24/7 ON LOW SETTING
Without people like you this would never have happened 👍👏
Don't be silly.
Absolutely thank you Martin
You’re still being massively shafted though….. just by a slightly shorter stick! Yay!
Of course it would.....you seriously trust this guy?
Is good that we get some support, but this means wealth is being transfer from taxpayers to oil executives.
Many pensioners who have a small private pension from local authorities for example did not get that £600 the same if you have been frugal and planning for retirement having over £10,000 in savings. so if you have been getting by being just above the thresholds for any benefit you were stuffed.
I know bloody annoying isn’t it I miss out as I have a small private pension and I’m 2years off pension age so no extra there either they’re just encouraging you to spend all your money don’t provide for your old age we will
It's the middle-class that gets squeezed the most. We just never hear about it as politically it's seen as a bad statement to make.
Yes the feckless get all the help going but if you have been careful and worked hard payed your taxes all your life you get next to nothing I feel iv been made a fool of
@@paulinepress3024 Dear Pauline, IN 2009 2 men attacked me, attempted murder, I died 3 times, 8 ops in 7 days, 13 years later I take 56 tablets a day and had worked every day and I was a martyr like you paying taxes, as someone who is Feckless, thank you so much for your assistance and support. And no one has been caught. SUCH A NICE HUMAN YOU ARE
@@paulinepress3024 Yes, I know what you mean!!
Thank you Martin,
Something needs too be put in place to stop them putting up the standing charge?
We're still in the 💩
The way around it. Phone up the bill company and tell them to come collect the money. You are not required by law to pay by bank, post office, or via card over the phone. If they want their money they can come and collect it. This will cost them millions employing people to collect and the fear of the collectors being mugged. They will soon bring the price down.
Back in the real world though...
That'll affect the wholesale prices - how?
@@robmontier639 If everyone makes a stand they'd have to bring down the price. They won't want to employ thousands of people to collect cash. We are not talking about a few pounds but hundreds from each household. It would cost them millions. .
It would be better for them to take notice and drop the prices
@@richardjones8699 oh, so you think the real world is just to pay as normal via bank, post office etc? If they want their money, let them come collect the f*^ker. They can't take you to court for not paying as you'd not be refusing to pay. It would be a ball ache to employ people to collect from each household.
100% fantasy. Nobody will do this and if you do you’ll get cut off / taken to court. Simple as.
Many people's annual bills have doubled (under this new figure), some have tripled. That's STILL unaffordable for many on benefits/lower incomes. Additional targeted support will still be needed.
The more the government intervenes the worse the cost-of-living crisis gets. ua-cam.com/video/eaLbbaljlAo/v-deo.html
Mine is going up 425%
And businesses too.
It's not a never ending money tree. People will need to help themselves a little rather than expecting constant handouts
how are we going to find this money dear lord barely affording it now we need your help and advice Martin
£2.5k is the maximum you pay doesn’t mean that will be the price it’s a average, we are not all the same big families obviously use more 👍🏻
It's still the biggest distribution of wealth in most people's lives..words cannot express the anger and frustration all people feel...utterly disgraceful?
Yeah,we are distributing it straight to the rich. Why don't tax the companies makin huge profits on war? What distribution you are taking about? Our kids will be paying it for decades, how can you call it distribution of wealth?
Perhaps a more appropriate wording should be 'transfer' of wealth?
It was never going to be £5.000 . Scaremongering so we would feel great full for the rip off that should never be .
Totally agree
Thanks Martin, I feel you and the Don't Pay UK campaign had a significant impact with getting this 2 years freeze
Thanks for all you do martin keep up the great work.
Aha! Good to know you're still with us 👍
I wish you worked as The Chancellor or an advisor to them.
Having to sit and deal with those cretins all day would probably make you vomit. He's better off where he is!
@@borachon26 Yeh, your right. He's too good for government.
Thank you so grateful for all your help during this very difficult time!
That is not going to stop people from going into fuel poverty an starving a load of crap.
The standing charge is a disgrace. I get clobbered even if I don't use it.
But we can afford to send 3.8billion to 🇺🇦? Makes perfect sense
how much will an illegal immigrant who travelled through 10+ safe countries to get to the U.K and is staying in a nice hotel have to pay for their energy?
Nowt.
Thank you martin , you really have been a massive help , I've had lots of sleepless nights worrying how I was gonna cope . Thank you
You can just worry about your mortgage now as interest rates will now rise sharply as the money markets will lose confidence in the UK for borrowing so much.
Martin, thank you for explaining; I already knew, but a great many do not. I think you're doing a tremendous job *that is so useful!* Best wishes from Wendi UK 🌻🌻🌻
Been waiting 4 this thank u Martin 👍👍👍
We are all electric with night storage heaters and using Economy 7 (a slightly higher day rate than the normal variable and a much cheaper night rate). How will this be affected please?
Anyone know the unit kwh cost from October? It was going to be 52p.
Martin will get back to us asap
No, this is not a relief in any way! This will ultimately be a disaster for everyone! The current Debt to GDP ratio of The British Union is just over 100%. Current debt stands at well over one Trillion that is causing massive increases in inflation that is in turn reducing the purchase value of the £ and destroying your savings! To service this long term price cap, the State will have to create more currency (the magic printing press) which will reportedly increase the debt to over 3 Trillion! Inflation will continue to rise quickly. Everything will become increasingly expensive and we will probably enter a recession. The creation of this huge debt has, of course all been based on LIES!
...just what the World Economic Forum wants...
I note latest debt is over £2 Trillion!!!
When I looked up the previous unit rate, it had a footnote that it varies from area to area with no link to where I can find out the cap for my area. So not much use really.
1. Prices are double what they were last winter. 2. Giving £400 off energy to those that can afford £2500 is insane. 3. She's getting the country into massive debt. 4. Businesses have no idea whether help is coming or how that will work. 5. Prices of everything will rise anyway because she hasn't helped businesses at all. 6. My business has done a 3rd of the turnover it did last year as people are terrified to spend money.
A decade of wage stagnation and then this, people have not got the spending power of over a decade ago and it’s looking like it will be two decades of decreasing spending power.
I sell collectible action figures online. My British customers have stopped buying this year but the Europeans, Australians and Americans are still paying my prices + shipping.
@@alfsmith4936 not surprised, i personally barely have anything left at the end of the month.
@@alfsmith4936 I used to collect particular figures and I have had to stop and am now looking at cataloguing them and selling them because we need the money to survive. I will only get 40% of their value tops sadly but needs must.
Small business are not appreciated and do not deserve help as the lock downs for coronapanic indicated
Thanks Martyn. Xx
Great work Martin, you’re an selfless man.
Working for his knighthood from Liz more like
@@joeDi1960 some people out there will always see the worst in people (sad)
@@barrydoherty636 I just feel £150bn is unaffordable for future generations and middle classes don’t need the subsidy and energy producers could pay more out of their windfalls - Martin Lewis knows that better than most
@@joeDi1960 your probably right in what you’ve said, but all Martin is trying to do is help people.
Surely can see that.
Regards.
Barry.
My brother did not use gas and had the meter remover , he was paying a standing charge for it , not any more
The eye-watering sums that Truss and Co are about to borrow will have to be repaid in the future. This means her action is simply a postponement of the day of full reckoning. As we will all struggle to cope with the immediate rise in energy bills right now, what the hell will we have to stump up when the borrowing bill has to be repaid by all of us?
Exactly!
This will bring inflation down and reduce the cost of all government borrowing.
@@thomasb4152 Oh, ye of too much misplaced faith......
Thank you Martin Lewis for your passionate and tireless efforts in fighting the good fight on our behalf.
You are A True warrior🙏
I grew up in the 60's in an old Georgian house with Large rooms and high ceilings, solid walls, v old single glazing, draughts and no insulation to speak of. We had one fire in the 'living room, and a rarely used 3 bar electric heater in the 'good room'. I remember being cold, sometimes having a hot water bottle at night, wearing jumpers. But that was normal. The first home I bought was similar and we brought up 4 kids in it. Whilst I don't wish to belittle the financial challenges facing most people this winter, I do believe its forcing us into facing up to modern our modern over consumerism. We'll have to turn down the heating, only have it on in one room, make some draught excluders, tape up windows ( all the things we used to do), using less energy is good for the planet. People are going to have to think ( as I'm having to do , being retired) about what I spend money on. This is a global problem and I'm just glad i live in a country wiling and able to offer some help.
You don't think people aren't already doing all of this!!!!?????
@@richardjones8699 some maybe, its summer, come winter I suspect people who have grown up with plentiful central heating have a different perspective on what's warm enough than was the case in the past. I have. We're going to be forced to change though.
@@ianmatlock1 you remind me of the Government Minister who said everyone should wear an extra jumper. He was roundly ridiculed too. The very fact that your comment has got just '3' likes (after an hour +) should tell you something as to what people think of it - many others are in the hundreds of likes.
@@richardjones8699 Thankfully truth and my personal self worth isn’t dependent on likes
Thank you for all your help on this Martin.
I live in France and my electric bill has hardly increased even petrol has come down considerably,still the UK.has its sovereignty back😄
And Germany will have blackouts this winter... Kind of invalidates any point you're trying to make
@@iearl504 so I presume you have a crystal ball,do you believe everything you read in the UK media circus,oh by the way in case you missed it I was talking about France😂
@@gerrypowell2748 you were referring to Brexit obviously , but all is not well in the EU hence me mentioning Germany.
Sorry to poke holes in your silly little delusions
@@iearl504 I see you are brextshitter,so no point in communicating🏴🇪🇺🇫🇷
Thank you for the speed of your information Martin, we are not getting that from the news channels.
Thank you for explaining everything. Its so reassuring to have you do this video!
Thank you Martin great news.
Thanks for the explanation Martin, as a heating oil user I still don't feel very chipper. Anything on oil etc?
Thank you Martyn
Still unaffordable that’s £50 a week from £20 I can’t pay it
Reminds me of a double glazing salesman quoting, say, £6000, and then when you question it it's suddenly 'discounted' by a further £2000 and you're supposed to be grateful ! Truss, you haven't done anybody any favours, well, maybe the energy companies are happy with this guaranteed profit. Where's all this money coming from and how/when will we be paying it back???
Like the furlough scheme we'll end up footing the bill for this
It will be going on general taxation. What did you think all the fuss was about from Labour?
I’m cancelling my Direct Debit and just paying for the units that I use.
I’m with British Gas and live in North Wales. My energy rates have just been changed to:
Elec unit rate from 29.584ppKwh to 35.982ppKwh (21.63% increase)
Elec daily charge from 47.581ppd to 48.594ppd (2.14% increase)
Gas unit rate from 7.365ppKwh to 10.343ppKwh (40.43% increase)
Gas daily charge from 27.22ppd to 28.485ppd (4.65% increase)
Is this what the nation is facing? Hope this is of interest to someone. It’s going to be a tough winter.
Still cannot afford this, heating will only be turned on if temp goes below -5 deg.
I don't think you can set your heating for -4c
Unless you live inside a fridge freezer
@@TheVicar no but I can turn it on when the outside temperature reaches - 5
What’s going to happen to me as I am under fixed contract until Oct. 2023?
I live in country no gas have to use oil where is my discount
These "average" rates and caps are all very well, but consumers in certain areas pay more (or less) for electricity and gas, even though the supplier operates nationally and apparently at the supplier's discretion - so the cap is seemingly not really fixed at all - BUT I can see consumers' in former cheaper areas being rounded upwards - could mark the end of regional pricing. MR LEWIS PLEASE SCRUTINISE CAUSE OFGEM DON'T..
Indeed.
Regional pricing …..
So you can end up with a customer in IP9 paying 33ppkwh for electricity and a customer in N13 paying 25ppkwh.
There needs to be a National cap on the unit rate and no energy company can exceed it.
That is not happening and never will
Blanket cap is to fool all. It should fixed unit price cap and it is up to consumers to decide which suppliers to go for their energy.
Linking gas price to electricity prices is also wrong.
Triple last year. That is a result in their delivery. No. Can. Do. NO DEAL!!!!!!
Does this mean if the cap is in place for 2 years. That for 2 years that's basically the price even if the price of energy drops substantially for the provider they can still charge that same premium?
@@sl1d3r1984 it means the poor and sometimes the lower middle classes will be their b*tch forever. Glad to clear that up for you.
Government providing help with a problem of their own making, there will be a sting in the tail further down the line.
Sounds positive. I don’t understand anything that is being said; but Martin’s tone sounds positive.
I just pray for Bank of England base rate interest rate to go down now. 🙏🏽
Thank you Martin Xxxx 🤗💕 X God bless you 🙏 Xxxx 🇬🇧
Just a little reminder folks,. The UK'S reliance on Russian gas is just 3%.
I guess it was either the utility costs or meeting Boris and Liz Truss in the same day that saw off HRH EII
My cynical mate reckons this was always the plan. Tell everyone prices are going to skyrocket come October only to freeze them before hand. Tories look like heroes and energy companies can shareholder can have their fill from the pig's trough.
Tories don't look like heroes with the final bill going on general taxation and not being paid by the energy industry out of the £170billion they're going to make from us.
The WEF has said that people have too much money and money = power, so this energy price rise and the inflated price for food are 2 of the ways of taking it off of us. There are more ways coming.
Thank you Martin.
Oh thankyou so much aren't we lucky .
Energy price cap... average this average that... blah blah blah... what are the max tariffs and standard charges allowed?
Thank you for the explanation. Disappointing there will be no windfall tax on the billions of profits.
Any news on VAT reduction for EV charging? Those of us who can’t have a home charger are being penalised for having to public charge at 20% VAT
Thanks Martin, we just need to know what the kw per hour will be on electric when it comes out so we can phone up our electric people. Your great. Thank you ❤️
Thank you for all your help and explanations.
It helps but big business wins again. The profits they are making are obscene. This is an extraordinary situation with the war in Ukraine and the government should be using extraordinary powers to ensure its people do not suffer at the expense of the oil companies.
but the general public have shares in BP. Extra dividend payments will help them with their energy bills.
Natural Gas has risen 600% due to the Moronic Sanctions on Russia and now the Moronic Ukrainian Flag waving public want to blame energy companies for profiteering when many of them are on the verge of bankruptcy.
So what about the fixed rate I opted into last month that doesnt kick in till October... Will that go down now?
Thank you Martin for all your raging at and shaming of this disgusting Tory government and this Cost of Tories Crisis, if it wasn't for people like yourself with such a large platform i shudder to think if this regime would have done very much at all to help. Thanks man.
@@adamrobson2423 If Labour got in in 2019 are energy would be Nationalised by now and we would have control over it instead of spaffing another 170 Billion of Tax payers money to the private Energy Shareholders, most of them abroad, so obviously we wouldn't be in this insane position right now no.
What about house holds that use coal as there only main heating and also our hot water as we do are coal in west wales has gone up to £23 a bag my family in England pay £15 a bag I have COPD my husband is also disabled and we use 5 bags a month do we get any help 🤞🤞
Profits keep rising yet they say the price hikes are to cover increased costs, the the tax payer has to cover the loans taken by the government to keep the enregy companies profits at record breaking levels. how is this allowed to be!?
Thank you so much for being the voice of ordinary people 💛 💗
I’ve got a thought just stop sending money abroad
I want to see how much is loaded onto the standing charge under the new charge. Under the August price cap announcement it was only 1p extra on gas and electric, if it’s a lot more on the new cap we’ve been screwed over. Keep an eye on that. On the face of it the big winners are energy retailers who now know they won’t have any cash flow problems for the next two years, and BP and Shell who can make as much excess profit as they like and the Government won’t touch a penny of it.
My daily standing charge on the new Standard Tariff from SSE (the standard tariff is the only one offered by SSE ) has doubled from 24p per day to 48p per day. I am a low user of elec. so the standing charge is over half my quarterly bill. It's robbery.
All of this information is on the gov.uk website:
Average standing charges will remain in line with the levels set by Ofgem for the default tariff cap from 1 October, at 46p per day for electricity and 28p per day for gas, for a typical dual fuel customer paying by direct debit.
Thanks for fighting our corner and keeping us informed 👍
The Prime Minister has done as little as she could, by giving the provider a customers promise to pay (LOAN NOT A LOAN) the full costs regardless of how high the rate can go (4% in France - 400% in the UK). So we'll be paying this debt off for many years with interest in the likes of a credit card for the providers. Why not if there is £150Bn nationalise the companies then when paid off the profits can be put back into the Gov?
#EnoughIsEnough #GTTO #NHSpay15
Who else is going to pay it? Govt aren't responsible for global pricing unless your complaint is the UK hasn't extracted fossil fuels more and invested in nuclear enough.
in UK we have power generation that has NOT increased in costs yet we do not get that electric at a lower price to UK people. Solar wind hydro and nuclear none of which needs gas or oil imported in to the uk to produce electricity. All that is happening is the energy companies are screwing with out reason the people of the UK.
@@jimwest7107 You may have noticed that Shell & BP haven't contributed taxes as a company for many years. Employers don't have a choice. We have an abundance of CH4 beneath our feet especially now all the coal mines are closed. Very little has gone to renewables, why? Nuclear isn't our answer, unless they build micro units per city say. We import only 4% gas, so why the increase of 400% for both energies? France has sustained a 4% increase because they have nationalised the rest of there providers. I pay my fair share, why not the companies who have given £17Bn to Conservatives over the years? For the few, not the many.
@Glen Q so then why are we not getting the low prices they can offer within our energy bill
@@jimwest7107 This Gov set up the Ofgem www.ofgem.gov.uk/check-if-energy-price-cap-affects-you who set the fixed prices. Why have they changed from protecting the customer to the provider? Just the same as when the banks treated us all as cash cows with insurance fraud, they kept them afloat with our taxes. What's different now? Why no Quantitive easing for the non tax paying providers?
OILS 72$ A BARREL ENERGY SHOULD BE ALOT CHEAPER , ALSO ENERGY COMPANIES ARE MAKING TOO MUCH MONEY BY NOT ADJUSTING THERE UNIT PRICE TO THE CURRENT OIL PRICE , SO THE GOVERNMENT SHOULD FORCE THEM TO LOWER THE UNIT PRICE IF THEY REPRESENT THE PEOPLE