Martin Lewis reacts to new Ofgem energy price cap and warns some will pay ‘nearly double’

https://www.mirror.co.uk/money/martin-lewis-reacts-new-ofgem-33523424?utm_source=reddit&utm_medium=post&utm_campaign=reddit

Posted by Traditional-Check160

7 Comments

  1. What a terrible headline, “nearly double” they were (paying) pre-crisis is the full quote. Sure, I suppose if you compare the price to 4 years ago that’s true. Why stop there, why not say paying nearly 4x (compared to pre 2008 financial crisis)

  2. JimJonesdrinkkoolaid on

    I saw the Ofgem head basically saying it was 10% so that the energy companies could make a small profit in his words.

    I’m not sure that’s what his role is as the regulator.

  3. No-Particular-2894 on

    Hysterical headline aside…

    How can people mitigate these sort of things?

    Literally insulate every possible nook and cranny of your home, only heat particular rooms?

    But then you still get stung with the base rate fee whether you have used very much energy or not?

    I’m sure ML has lots of tips but any one got any practical advice?

  4. What the government *needs* to do, is uncouple generation prices from each other.

    Having all the nuclear, solar, wind, and hydro which costs a fraction per unit to generate compared to gas, charged the same as gas, is unbelievably idiotic.

    That’s how companies make mammoth profits.

  5. salamanderwolf on

    9.5%

    Does Poseidon want more sacrifices in an even bigger yacht?

    The fact they still allow a standing charge for something you have to have is abhorrent. Getting rid of that and not allowing the companies to add more to the bill to cover it would be a good start to easing bills.

    National infrastructure privatization was a terrible idea. Now we’re paying for it.

  6. We fixed last week when we got Lewis’s newsletter & got an decent deal of 20p p/KWh.

    We have a standard 2-bed new-build flat with insulation, double-glazing & thermal curtains for the balcony door, in the East Midlands. This allowed us to keep the elec last year to just about £940.

    Getting a heated airer for clothes drying helped a bunch too, I’m sure. But we kept the Sunday roast… that was our trade off.