FabSwingers.com forum: Price cap/ energy guarantee news…

By *abio OP Man
over a year ago

Newcastle and Gateshead

So….. news.. good/bad/ something in between

Remember the proviso that the price cap changes every 3 months and the energy guarantee changes every 6 months…

So the figure have come out starting 1apr 20203.. remember this is for average usage!

Ofgem price cap… down from £4200 to £3280

Price guarantee… going up from £2500 to £3000

So as of April, the average bill will go up roughly 20% (basically because of less government support)

However the first initial forecasts have come out from Cornwall associates ( who have been really good at predicting where the price cap will be) … they are suggesting that as of July 1… the ofgem price cap may be at £2150… which means that because cap would be lower than guarantee, bills may finally start coming down!

So… bearing in mind those people who hated the OBR for their forecasts and the government have spent far less money on the policy than originally predicted…. Should they just keep the cap where it is?

By (user no longer on site)
over a year ago

Sounds like typical establishment media narrative to us.

Typical headline (lie);

Look, the price cap is going down! We over estimated, so people are in fact better off!

Reality;

Fuel bills go up even more.

Remember, war is peace, imdemtured servitude is freedom, love means love, men can get pregnant, you will own nothing and be happy.

By *ch WellMan
over a year ago

Scotland

Current price cap however is effectively £2100 given it's £2500 minus £400 further support which also ends in April so a rise to £3000 would be a 42% increase for households