richard10012
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Millions of people are struggling and what do Ofgem do, let energy companies charge us more.
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MatureStudent37
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(Original post by richard10012)
Millions of people are struggling and what do Ofgem do, let energy companies charge us more.
As we’re out of the EU now, hopefully we can rid of VAT on utility bills.
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TheStupidMoon
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If we have our own oil industry why are we paying so much. Americans have far lower energy costs.
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MatureStudent37
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(Original post by TheStupidMoon)
If we have our own oil industry why are we paying so much. Americans have far lower energy costs.
Most of U.K. fuel prices are tax.

Fuel duty tax - U.K.
VAT -EU
Green taxes - U.K./EU.

America has lower taxes because it has lower government spend. No NHS and not such a bountiful benefits system.
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Quady
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(Original post by richard10012)
Millions of people are struggling and what do Ofgem do, let energy companies charge us more.
Is it OFGEM's fault the price of wholesale gas has risen over the last year?

Like are you thinking OFGEM should subsidise the price. Will you pay more tax so I can have my heating on overnight? Like uts cold if I wake up in the middle of the night.
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Rakas21
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(Original post by MatureStudent37)
Most of U.K. fuel prices are tax.

Fuel duty tax - U.K.
VAT -EU
Green taxes - U.K./EU.

America has lower taxes because it has lower government spend. No NHS and not such a bountiful benefits system.
Actually it spends about the same on health proportionately because while insurance is great, it does it in the worst way possible.

It just chooses to devolve taxation (non-federal taxes are actually quite high as a result).

It's basically the same as abolishing fuel duty and telling councils they can leave the roads and parks dirty or raise council tax.
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hotpud
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(Original post by MatureStudent37)
Most of U.K. fuel prices are tax.

Fuel duty tax - U.K.
VAT -EU
Green taxes - U.K./EU.

America has lower taxes because it has lower government spend. No NHS and not such a bountiful benefits system.
Is this true? I thought tax on home energy was 5%.

As for Ofgem - they have allowed the standard tariffs to rise. Why so many people insist on signing up to the standard tariffs when there are so many massively cheaper options out there makes no sense.
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MatureStudent37
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(Original post by hotpud)
Is this true? I thought tax on home energy was 5%.

As for Ofgem - they have allowed the standard tariffs to rise. Why so many people insist on signing up to the standard tariffs when there are so many massively cheaper options out there makes no sense.
John major introduced VAT on domestic fuel after Maastricht.

It wasn’t a poorly thought out Westminster decision.

It was part of this

https://en.m.wikipedia.org/wiki/Euro...alue_added_tax

Just like the Tampon Tax.
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the beer
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(Original post by Quady)
wholesale gas has risen over the last year
Wasn't it at a record low not long ago?
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Rakas21
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(Original post by the beer)
Wasn't it at a record low not long ago?
Last March/April.

Oil is back above 50 dollars as demand recovers.
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the beer
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(Original post by Rakas21)
Last March/April.

Oil is back above 50 dollars as demand recovers.
Is that a rise over the last year then? looks to be slightly down over the year still, my prices have been increased 3 times since last year.
Last edited by the beer; 3 weeks ago
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Quady
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(Original post by the beer)
Wasn't it at a record low not long ago?
OFGEM lowered the price cap in April '20 (announced Feb '20)

OFGEM lowered the price cap in October '20 (announced Aug '20)

Raising it this April still means it's lower than last April.
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the beer
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(Original post by Quady)
OFGEM lowered the price cap in April '20 (announced Feb '20)

OFGEM lowered the price cap in October '20 (announced Aug '20)

Raising it this April still means it's lower than last April.
Err ok sounds like you're talking about something different now. Isn't the price cap only helpful for those that can't be bothered to switch providers all the time?
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Rakas21
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(Original post by the beer)
Is that a rise over the last year then? looks to be slightly down over the year still, my prices have been increased 3 times since last year.
Did you get a cut last Spring?


Price fell about 66%, it's risen around 200% since then.
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Quady
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(Original post by the beer)
Err ok sounds like you're talking about something different now. Isn't the price cap only helpful for those that can't be bothered to switch providers all the time?
Different to what?

What did you think the OP (who I was quoting) was on about if not the price cap? Since they created the thread when the increase was to the cap was announced....
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the beer
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(Original post by Quady)
Different to what?

What did you think the OP (who I was quoting) was on about if not the price cap? Since they created the thread when the increase was to the cap was announced....
I asked you about your claim on wholesale prices, you ignored it and talked about price caps.
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Quady
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(Original post by the beer)
I asked you about your claim on wholesale prices, you ignored it and talked about price caps.
Thats because I only mentioned wholesale gas in relation to the changes over the last year to the price cap.

For completeness then...

No, they wholesale gas prices weren't recently at a record low. But they were the lowest that they've been in the last 10 years or so. Since that recent low the price has risen. That helps explain why the price cap was cut twice last year but is now rising after the last review point.
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