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3 hours ago, Halbeath Raith Rover said:

Maybe a stupid question, but if my mortgage has exactly £100k left and the interest rate goes up 1% is that an extra £1000 a year in theory ?

I appreciate it won't be exactly £1000 as each payment in the year will take the balance slightly lower than £100k.

Loads of companies have mortgage calculators where you put in how much you owe, the length of time remaining and the interest rate.  It then spits out your monthly repayments.  You can play with the Interest rate to check how you’ll be affected.

Google “google mortgage calculator”

Edited by Left Back
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1 minute ago, mizfit said:

Can we just start fucking rioting?

You get started and we'll be along presently.

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C4 saying that average EU energy price rise is 44%, we're at 215%. Germany's 20%, France is 4%.

But we mustn't interfere with the markets, where would it ever end?

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19 minutes ago, welshbairn said:

C4 saying that average EU energy price rise is 44%, we're at 215%. Germany's 20%, France is 4%.

But we mustn't interfere with the markets, where would it ever end?

Not comparable figures.

EDF (nationalised) is suing the French government for around £8bn relating to losses they’ve incurred in selling at below market price. Inevitably this will be picked up by the French government who will then need to claw it back from taxpayers.

We are subsidising the poorest but I would think more direct action will be coming once the new PM is installed.

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4 minutes ago, Michael W said:

They're waiting on you starting it. 

That’s the problem in Britain - we’re all up for complaining on social media but leave it to someone else to actually be proactive. 

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23 minutes ago, Dawson Park Boy said:

Not comparable figures.

EDF (nationalised) is suing the French government for around £8bn relating to losses they’ve incurred in selling at below market price. Inevitably this will be picked up by the French government who will then need to claw it back from taxpayers.

We are subsidising the poorest but I would think more direct action will be coming once the new PM is installed.

They'll have to do something.

Truss can talk about not introducing further handouts but she'll have no choice unless she wants to be routed at the 2024 election.

They might well have to do something radical like abandoning raising the cap and subsidising the difference.

Right now she's talking to Tory voters. In 4 weeks time she'll have a much bigger audience to satisfy and she'll absolutely shift her position because that's what she's done her whole career.

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There is little point worrying about how much prices are up in other countries, because we're not all paying the same for it. And at any rate, what works in Germany/France might not work here either. 

https://www.nationalworld.com/news/politics/energy-crisis-countries-cheapest-gas-and-electric-3674055

Britain's electricity was towards the higher end of the spectrum in the European context, with gas amongst the cheapest. I am sure an up to date version of this table will have some pretty wild fluctuations (e.g. the Netherlands now has the most expensive gas in Europe). 

The key thing is that the measures taken are sufficient in order to properly mitigate the impact of the bills. Whether that be financial support or limiting the price rises. It is more than clear that that it is not. 

Meanwhile: 

Quote

Some people have described the increase of £677 on average each year for households as a "disgrace".

It follows a 58% rise in April, which the company said was due to disruption in the wholesale supply of gas caused by Russia's invasion of Ukraine.

https://www.bbc.co.uk/news/world-europe-isle-of-man-62438384

It's not something likely to go away any time soon. Several EU Member States are having to reduce gas usage to prevent running out in winter and the UK has planned for blackouts also. What is missing from the blame is 'western sanctions on Russia', which led to a predictable response. Whether you agree with that or not or question whether it's fair, tit-for-tat is how sanctions work in practice. The west can't just wean itself off Russian gas overnight, but it really needs to start finding alternatives even on a temporary basis. Sorry your bills are astronomical, Russia innit? just isn't acceptable. Support is needed now and solutions need to.be found - they won't be instant but the situation is an emergency. 

Edited by Michael W
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It;s not really surprising there's not been any sizeable public protests yet.

I don't think any of this has sank in yet to most of the public. And combine that with the fact that we're in another heatwave and I don't think most people will be giving serious thought to October. Maybe there's an assumption that the threats of massive increases will come to nothing.

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1 hour ago, Dawson Park Boy said:

Not comparable figures.

EDF (nationalised) is suing the French government for around £8bn relating to losses they’ve incurred in selling at below market price. Inevitably this will be picked up by the French government who will then need to claw it back from taxpayers.

We are subsidising the poorest but I would think more direct action will be coming once the new PM is installed.

We get 50% of our gas from the North Sea which costs no more to supply now than it did last year. Equally, the wind generated electricity from the North Sea has its price linked to the global market price of gas, despite costing no more to produce. We're making a deliberate choice to cripple our economy and living standards as a sacrifice to the gods of free market capitalism, a market which is being deliberated skewed and manipulated by Vladimir Putin. Russia cut down gas supplies to Europe for months before invading Ukraine, forcing Europe to run down their reserves. The UK weren't affected by this of course, since we've had no reserves since 2017 when the Tories decided we didn't need them and the infrastructure was dismantled.

Edited by welshbairn
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12 minutes ago, welshbairn said:

We get 50% of our gas from the North Sea which costs no more to supply now than it did last year. Equally, the wind generated electricity from the North Sea has its price linked to the global market price of gas, despite costing no more to produce. We're making a deliberate choice to cripple our economy and living standards as a sacrifice to the gods of free market capitalism, a market which is being deliberated skewed and manipulated by Vladimir Putin.

In response to sanctions placed on Russia by NATO countries as they waded into a conflict they didn't actually need to...

Western leaders are directly responsible for the increase in the wholesale cost of gas and, as such, are directly responsible if no action is taken to mitigate this increase in their own countries.

The first point you make, however, about North Sea gas being no more costly to produce than last year, is mooted by the fact those producing it are under no compulsion to sell it at cost + nominal profit or indeed even within the UK. As a result UK based energy suppliers need to purchase it at European market rates or it would simply be sold to a higher bidder.

The UK is more than capable of being self sufficient in energy production, however privatisation, the stigmatisation of coal and fracking to appease the green lobby, and the reluctance to extend the use of nuclear power has left us completely exposed to external factors.

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7 hours ago, sonsism said:

£100 for electricity and £100 for gas

Please double check T&Cs as some will have that it only applies if you leave supply. 
 

Tariff to tariff and moving home are ways of avoiding the fees. Not every company does it but worth a look

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