Don’t pop the £5.75 Asda sparking wine corks just yet, but it’s rumoured on Thursday (8th of September 2022) the UK Government will announce plans to freeze the cost of energy, which means the average UK home would see no greater than £2,500/yr costs minus the £400 the Government has already said they would reduce bills by, so instead of a 80% increase in October it would be an average of 6.5% increase!
So that would mean:
£0.28 / kWh Electricity today (September Price Cap)
~£0.30 / kWh Electricity (Price Freeze)
October Price Cap of £0.52 / kWh Electricity
The BBC states:
The government’s plans to subsidise bills means that customers will not be expected to repay the support.
It is unclear how long the government support will last, but the overall government support package is expected to total around £100bn.
We still believe the Government need to:
- Delink the price of electricity from the cost of gas (as explained by Octopus Energy)
- Address the excessive profit-making that energy producers are allowed to make (e.g. Shell making £10bn profit between April and June 2022)
- Help fuel-poor households decarbonise their homes
- Help investment in UK renewable energy sector considering it’s so cheap to generate compared to fossil fuels and has a much lower cost to our environment
- Find how we can change the energy market to ensure energy is an affordable essential for all?
- Find out why some politicians (from all sides of the house) are allowed to continue to have investments in companies such as fossil fuel companies (e.g. Royal Dutch Shell) which are currently profiting from our country’s exorbitant energy costs
- Address why our old and new housing stock is still under-insulated and relies on old technology to heat/cool?
- Address why our Government are not investing more in renewable energy storage like Hornsdale Power Reserve in Australia which saved Australia A$116 million in operational costs
- Address the fact any freeze is still much higher than pre Putin War time.
What we’ve been doing:
- Explaining the price cap in kWh
- Calling all of the UK to write to their MP with our FREE template
- Writing about ways to save money over your lifetime (up to £50,000 saving across your lifetime)
- Recommending people move to renewable energy providers such as Octopus Energy (free £50 when you join – https://share.octopus.energy/mauve-marsh-338)