The next energy price hike is to be with us very shortly, 10% from 1st October. The next hike along, a late and unwelcome Christmas present arriving 1st of January, is predicted to be “a further 3%”*. But that’s not the end…
“It’s a fool that predicts what’s going to happen to the gas price… a reasonable assumption for all of us is that [these hikes] may well be here for some time to come.” – Regulator Ofgem’s CEO Jonathan Brearley, 23rd August 2024.
Asked by Sky News about future hikes, Ofgem CEO Jonathan Brearley said of future increases:
“Now, what I say is it is not a bubble that’s going to go away, necessarily.
This is not a situation that we can say, well, you know, things will ease and we’ll get back to normal. They might… but as I say, it’s a fool that predicts what’s going to happen to the gas price.
But I think a reasonable assumption for all of us is that this may well be here for some time to come.”
The interminable burden of energy price hikes
A new scheme by Green Streets, proven in Sheffield, adds income from energy export to savings, covering all the cost and leaving a monthly surplus going into the household budget.
“Kicking the can down the road has cost British households billions and billions of pounds and left us prey to these Global fossil fuel markets and Global fossil fuel Giants – and we don’t need to do that”* – Octopus CEO on October energy price rises, Sky News 23rd August 2024.
Electricity price hikes make up around two thirds of most household energy bills. We need protection from price rises, all while doing our bit for the environment and the fight against climate change. And soon Green Streets will be able to avoid hikes in gas prices too, and even the standing charge, as we extend our scheme to involve heating.
This post first originated from Green Streets Priority Club‘s newsletter on LinkedIn.
*Octopus CEO Greg Jackson says we don’t have to be prey to global fossil fuel markets.
