The % rate of Corporation Tax only matters if you pay any.
Smashing; Germany has a modern, efficient, invested-in economy and national infrastructure, not to mention a more grown-up and consensual approach to politics and industrial relations, we’ve got unicorns, FPTP and a class (from the left)/culture (from the right) war.
There was an interesting thread on twitter yesterday about some comparisons between the UK and Germany in how economic investment pays off, and how the UK basically hasn't done any;
https://twitter.com/thomasforth/status/1487507686627364864
The UK government, after what feels like a decade of chatting about it, cancelled a new underground central railway station in Bradford -- a city about the size of Leipzig. "Too expensive" appaz.
Let's be honest, if the UK government had tried to complete this project, it would be late, 3x over budget and with some critical errors meaning it wasn't fit for purpose so nobody used it. Might as well cut out the middle man and not bother building it.
It's when those energy price rises filter into Every. Single.Thing you buy, that's the thing being overlooked in the news reports
One of my mates created and built up a successful UK tech company. He’s moving to Germany this summer to start a new one. Sitting out the next decade in another European country is a wise option if you have the means and skills to do so. Tax rates are only a tiny part of the business environment. And the domestic/family environment. Nominal low tax rates for business can sit side by side with lots of impediments to running a business, and falling quality of life for business people, their staff, and their families.
Unfortunately for me I chose soup over a Sandwich this lunchtime and therefore have used up this years £40 energy credit already.
If only that was actually something to laugh it.
wtf is tech unicorn?
Privately held business allegedly worth over 1 billion US dollars. Its mostly based on previous funding rounds to calculate and hence may or may not be worth the paper it is written on.
Hope the Government look after those groups.
ROFLOL
Having just said that, looks like I'll get two council tax rebates of £150 each in April!
Mainly due to the randomness of council tax banding...
With house price rises seen as a good thing (for homeowners) - we are witnessing a recalibration of inflation (supply shocks) in the economy. There always has to be inflation in some part of the economy - it's been debatably good for the Tory voters that house prices (not part of CPI) have seen the brunt of this to the benefit of the wealth of middle-classes.
Things are swinging in other direction as consumables now take the hit.
This will not go down well with Tory voters one bit. Good.
We could long term see a shift in House Prices not blasting upwards.
Has anyone else spotted that the £200 handout to reduce their bills is actually a govt backed loan that you have to pay back in installments from 2023 onwards? So that's not a reduction, that's a deferment that could well be repayable on top of another big increase.
Hope the Government look after those groups.
Doesn't seem likely. Sunak is no doubt being handicapped by Johnson, can't have his biggest rival looking too good right now, but it really isn't going to go that way.
The average family in the UK is going to have to face the following increased annual costs:
£720 NI. (based on 2 people working on average UK income)
£75 Council Tax.
£390 Food.
£300 Vehicle Fuel.
£693 Gas/Electric
£800 increased mortgage payments.
£350 isn't going to make much of a dent, in that!
Has anyone else spotted that the £200 handout to reduce their bills is actually a govt backed loan that you have to pay back in instalments from 2023 onwards? So that’s not a reduction, that’s a deferment that could well be repayable on top of another big increase.
Yeah, it was supposed to take the form of loans directly to Energy Suppliers, who in return would reduce bills, but I guess either it didn't sound as good, or they couldn't them to actually do it.
I think they're gambling on either the Russian situation improving, or at least some of the non-gas powered power stations in the UK that are currently down, coming back...
Has anyone else spotted that the £200 handout to reduce their bills is actually a govt backed loan that you have to pay back in installments from 2023 onwards?
tbf I watched Sunak's speech and that was pretty clear.
reluctant - that was pointed out on pg1 as soon as sunak said it.
I've only read the reports and it was only the Guardian that made it clear. How many others are not going to realise and think that they're being given 'free' money?
I’d rather not get the rebate, is that an option?
Rachel Reeves has had a strong coffee today and sounds up for this, as it's an open goal
The "discount" needs to be outed as fake news
I think they’re gambling on either the Russian situation improving, or at least some of the non-gas powered power stations in the UK that are currently down
You've got to love the way this lot do 'policy'
My sister said recently their heating costs went from £90 a month to £198...
Ouch.
It's quite interesting what people think of as acceptable heating, for me it's enough to stave off damp and prevent ice on the inside of the windows.
Others accustomed to strolling around in thier Pjs at sub tropical temps are in for a sharp shock.
Has anyone else spotted that the £200 handout to reduce their bills is actually a govt backed loan that you have to pay back in installments from 2023 onwards? So that’s not a reduction, that’s a deferment that could well be repayable on top of another big increase.
Yes, and then I posted on Twitter asking for folk to list the frauds that were possible and what do they estimate the likely write-off will be by 2027.
It’s quite interesting what people think of as acceptable heating, for me it’s enough to stave off damp and prevent ice on the inside of the windows.
Others accustomed to strolling around in their Pjs at sub tropical temps are in for a sharp shock.
My wife considers anything between 22 & 30 degrees indoors to be comfortable 🙁
So, anyone had a new bill / DD value from their energy supplier yet?
Our £81/month DD hasn't changed in years, am expecting a letter upping it any day...
Not yet but my suppliers went bump on the same day whilst switching from one to the other, ffs.
So far I've had no contact from shell about the gas other than a single email from them back in September/October, haven't paid them a penny yet either. Electricity was switched to octopus who have been very good, DD setup plenty of contact and awaiting my credit to be transferred over.
I keep a close eye on usage and readings and drop them into a spreadsheet every so often so I know exactly what I'm using and costs so it won't be a surprise when shell finally sort themselves out.
If last year's payments were about right then double it and add a bit more for good measure especially if you were locked in on a good tariff.
So, anyone had a new bill / DD value from their energy supplier yet?
yes, our previous supplier (pure planet) went bust in october and we were transferred over to shell, they've just got round to giving us a new DD of £277 per month for gas & elec up from £197 per month. The £197 with PP was their SVR.
We have reduced our consumption this winter by about 10% though, so that new dd reflects that reduction in usage I think.
Just waiting on contracts for solar panels and battery to be fitted in June, won't help the initial price hike but will for the later ones
Octopus make it easy to pull out your previous energy usage so looked at last years.
Current fixed rate ends in July, if we'll go to capped rates it's near enough a doubling of energy bills. £140 extra per month.
Think this will be the year I rip up the downstairs floor and insulate it properly. 1930s semi with a suspended floor and it feels cold all winter, suspect loads of heat just goes into the void below.
grahamt1980
Full Member
Just waiting on contracts for solar panels and battery to be fitted in June, won’t help the initial price hike but will for the later ones
Sorry to be uncouth but may I ask how big the install is and roughly what you're paying?
Fairly big install. 8.3kW panels and a single tesla battery for now.
Works out about £23k. Discussing if to reduce the size and if the battery is worth it.
Not sure on payback times but as we work from home the majority of the time i suspect that it shouldn't be too long given current electric prices
The current cap for electricity is roughly 21p per kwh and 25p a day standing charge. I still can't find what the actual price cap will be changed to as all the figures give the increase for an average bill which hardly anyone pays (most will be over or under).
Why would the wholesale price of gas affect the daily standing charge?
So, anyone had a new bill / DD value from their energy supplier yet?
Our £81/month DD hasn’t changed in years, am expecting a letter upping it any day…
Changes don't come into effect until April.
It's going to be a difficult job, or at least justifying it for Energy suppliers. Prices go up, but usage falls rapidly. Do they hammer customers in April, in readiness for another massive hike in Oct, or let it sit, hoping for a reduction in wholesale prices in the next 6 months?
I looked back on my last 6 months smart meter reading and we're using about £120 a month on average through the winter, and paying £140, so we're paying too much really. Summer we're down to about £80 a month so I think our monthly should 'only' rise to £170 a month. It's a big number, but we won't miss £30 a month... it's the the £90 rise in October I'm worried about.
Fairly big install. 8.3kW panels and a single tesla battery for now.
Works out about £23k. Discussing if to reduce the size and if the battery is worth it.
Not sure on payback times but as we work from home the majority of the time i suspect that it shouldn’t be too long given current electric prices
I'm going to be very surprised if you ever have return on that investment.
Generally you'd want an investment to provide you with a return on a 10 year basis, so in simple terms you'd have to reduce your bills by £2,300 pounds per year
So lets say you'd be expecting a 50% reduction in usage, you'd have to be spending £4,600 a year on electric (£383 per month)
Changes don’t come into effect until April.
Ah forgot about that. I guess they'll still send out letters early to forewarn people....
So lets say you’d be expecting a 50% reduction in usage
With a big battery you could get close to 100% as you'll have free leccy 24/7.
Fairly big install. 8.3kW panels and a single tesla battery for now.
Works out about £23k. Discussing if to reduce the size and if the battery is worth it.
We had a 5kW array installed last October and are waiting for delivery of our 13.5kWh Tesla Powerwall end of April. Based on my experience over winter I'd say if your house is unoccupied during the day then battery storage is a must because even if you use solar to heat your water tank, have washing machines on timers etc then most of your generation will go to the grid for a measly 7.5p per kWh (export guarantee with Octopus). Even if you have an EV that will probably be sitting in the work car park so you can't capture any solar generation with it.
Like you me and Mrs Uponthedowns work from home so our house is occupied during the day but even in the depths of winter there's surplus solar for 2-3 hours on a sunny day which I'm soaking up charging our EV but this will go into the Powerwall eventually. Having a Powerwall will also allow you to take full advantage of a time based tariff like Octopus Go so in winter if there is not enough solar to charge your battery during the day the Powerwall will charge at night on cheap rate for use next day. The Powerwall even looks at the weather forecast and decides automatically if it should charge at night or wait for the sun the next day.
With octopus of you have a tesla battery you can get the tesla tariff which has import and export of electric at 11p/kWh which should help on payback.
But i am still wondering if it will payback. Looking at 20+ year life span so i would hope it is paid back by then
Already had mine go from £79 to £144 when the supplier went bust. Best start saving to make it through next winter and another price rise.
@goslow this is doing my head in too. I wouldnt expect to find some actual useful figures in the dross red top articles, but I cant even find on the Ofgem press release exactly what the figures are?
Because as I have the ability to add up and multiply and as @simon_g says
Octopus make it easy to pull out your previous energy usage
then I'd like to actually work it out.
Can anyone actually work out, what the price cap ACTUALLY is? I cant find it!?
Standing charge and ppkwh for Gas and Electric? I dont really care about Mr and Mrs Joe Blogs and there 2.4 children!
With a big battery you could get close to 100% as you’ll have free leccy 24/7.
True
But, it would have to be a big enough battery and panel to take you completely off grid, especially in the middle of winter and if you were currently consuming £383 of electricity a month.
The long term way out of the energy crisis is to invest in these technologies as well as insulation, but for the vast majority of people its going to be uneconomic to do so.
Energy prices in Spain increased for us towards the end of last year after the electric company raised prices and changed from a 2 tariff to a 3 tariff system in June.
The new low tariff is the old normal tariff, the new normal tariff is the old peak tariff and the new peak tariff is the old peak tariff on steroids. No one actually believed the blurb that told them they would be better off with the new 3 tariff system - and as far as I know, no one is.
I can access our account on-line and watch our daily consumption - which does give you an idea of what to expect on your next bi-monthly bill, but since we're pretty careful already we really have nowhere to go in terms of being more careful. We do almost nothing electrical except run the fridge during the peak period and we already run the washing machine and dish washer (infrequently) before we go to bed just after midnight on the low rate.
Don't understand that, corporation tax rate in the UK is going up to 25% and it's 15% in Ireland? (Is Ireland not 'developed'?)
Must mean that tax breaks for oil companies are best in the UK or something
But i am still wondering if it will payback. Looking at 20+ year life span so i would hope it is paid back by then
No way i'd be looking at a payback period of 20 years.
Technology is advancing at such a rate, that in 5 years you could have a system thats twice as effective for half the price.
I'm doing a lot of work, at work, to look at these types of technology across 35,000 properties, spending multiple times the amount you're looking at.
We wouldnt entertain any investment that didnt pay for itself over a 10 year period.
Yes, and then I posted on Twitter asking for folk to list the frauds that were possible and what do they estimate the likely write-off will be by 2027.
Take the rebate 2021. Move to a Band E house in another local authority in 2022. Bet you it doesnt get repaid!
MSE:
Under the new cap, the rates on average (it varies by region) are about 7p/kWh for gas, with a standing charge of 27p per day. For electricity, it's about 28p/kWh, with a standing charge of 45p per day.
