Octopus Energy UK - Notification of Price Increase 2023 - Energy Bill Support Scheme Ends

Depends how much energy you use?

Regardless of energy usage:

As the Government’s Energy Bills Support Scheme (EBSS) comes to an end, reports of ‘confusion’ have surfaced with some people taking to social media to ask just what help comes next for their household. Some were under the impression that the £67 per month payment, which formed the six instalments of the £400 EBSS, was continuing.

Chancellor Jeremy Hunt delivered his Spring Budget in March announcing the next round of support. However, with some people on social media claiming that they have had letters or emails from their energy company confirming support was continuing until the end of June, it is no wonder uncertainty surrounds the assistance now in place. The ‘support’ referred by those claiming to have energy firm letters refers to the Energy Price Guarantee (EPG) scheme, which is remaining at £2,500 rather than increasing to £3,000 as originally planned.

Despite the £2,500 EPG for the average family, millions of households will be paying more for gas and electricity from this month as the £400 energy rebate scheme has now come to an end. The £400 discount was split up over six months, from October to March, and given to households in instalments of either £66 or £67.

I know all that, but the comment stands, for low energy users, all the £67.00 grant did was increase their in credit situation with the energy companies.

ALL domestic energy users have now lost the £67 per month government credit.

I know, but if you aren’t using as much energy as you are paying in direct debit, which, you should not be in spring time, then, apart from your credit figure no longer rising, you should not notice any difference, it was £67.00 we were not previously receiving.

I pay by direct debit and I usually have a healthy credit balance, which increases over summer, as you suggest, but this month that credit balance is eroded by the £67 (which went towards paying the bill) that I didn’t receive.

Your previous government-paid £67 will now have to come out of your pocket (or credit balance).

I think most people will feel the difference now the £67 pm EBSS scheme has ended.
I know I will.
I used to pay 12 equal monthly payments over the course of a year, to even out the seasonal fluctuations, so that my energy account built up credit in Summer and ended up just about at Nil at the end of the Winter period.

Thanks to the £67 pm EBSS, my monthly payments did not increase at all last year even though energy prices shot up.

This year is a different story - even though I managed to reduce my total energy usage this year by 20% for both gas and electricity, the increased cost of energy and the loss of the £67 pm means that my new monthly payments will be doubled this year if I am to cover the cost of energy, based on last year’s usage when I cut down on energy consumption as much as comfortably possible.

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So, folks expect a £67.00 per month hand out ad infinitum?, if that cash really went to the NHS, it would be better spent there, but, I suspect it won’t, it will probably end up giving tax incentives to folks with squillions already, that’s the way it works.

Quite … :+1:

The energy companies and their shareholders will be laughing all the way to their offshore banking services while the rest of us struggle through what should have been a period of summer savings … :angry:

Meanwhile, you will end up paying the £67 to the energy companies.

Wrong, the £67.00 came into being 6 months a ago, now removed we are paying the massive increase in energy bills which, should now be reducing as a result of global prices but probably won’t but that is a different matter.

I’m right.

Despite the £2,500 cap for the average family, millions of households will be paying more for gas and electricity from this month as the £400 energy rebate scheme has now come to an end. The £400 discount was split up over six months, from October to March, and given to households in instalments of either £66 or £67.

But some are convinced the monthly payments are continuing and are devastated to find out that they will will have to find an extra £67 a month to pay for their energy from this month onwards.

I’ve decided to stop paying the same amount each month to build up credit during the Summer months and just adjust my DDR to pay enough per month to cover my Summer usage, so my Account isn’t in Debit but isn’t building up much Credit either.
Now that energy costs are so high and interest rates are much higher too, I reckon the money saved towards next Winter’s Fuel bills would be better off being put into my own Savings Account earning me interest rather than paying it in advance to the energy company.

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I think that’s a good idea … :+1:

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I repeat, an extra £67.00 after the “TEMPORARY” winter assistance plan ends, if you don’t use any energy, you will just pay the standing charge, this £67.00 means nothing now we are back under our own steam, just us and the market place.

What bit of temporary do folks not understand?

Hi

I am with Octopus, moved there when my old supplier went bust.

I am really noticing the costs now, I have to keep one room at 21c, which is expensive.

If you don’t use any energy why pay a standing charge for something you don’t use … :017:

What you weren’t paying before you will be paying now.

But, everyone knew that!!