Cost of living crisis: Lets pay more to water companies so they can invest more in their shareholders.

[nimic]

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[TwoSheds]

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Maybe she is Boris' daughter...

 

[Pexbo]

So our mortgage fixed rate runs out in February and we’ve just had a quote for the new amount. It’s a 55% increase, which means we’re gonna have to find another £480 per month from somewhere. We can do it but we’re obviously gonna have to find a lot places we cut back and make a lot of sacrifices. The frightening thing is that we’re not unique in this situation and we know that and there’s gonna be a lot of people out there who literally cannot afford this so what happens to these people? It’s not like a Home is a luxury, so if they lose that they can go on living without one and it’s not like rents are any cheaper than mortgages - they’re actually worse. This country is hanging on the edge of a cliff.

Some good news on this - the new rates mean we have locked in a deal which is “only” £345 a month more. Still, it’s £135 a month saved for the next 3 years.

 

[JB08]

Some good news on this - the new rates mean we have locked in a deal which is “only” £345 a month more. Still, it’s £135 a month saved for the next 3 years.

Glad you got a decent (crazy to say) resolution Pexbo.

We're almost ready to get our first mortgage and the property values in Bristol mean our monthly payments will be ridiculous. They've come down about £150 from their peak so far, so I'm hoping they fall a little further before we buy.

 

[Pexbo]

Glad you got a decent (crazy to say) resolution Pexbo.

We're almost ready to get our first mortgage and the property values in Bristol mean our monthly payments will be ridiculous. They've come down about £150 from their peak so far, so I'm hoping they fall a little further before we buy.

Oh nice, where in Bristol are you looking?

 

[JB08]

Oh nice, where in Bristol are you looking?

Not a fan of living in the city so suburbs most likely - cheaper parts of Downend, Staple Hill, Emersons, maybe south towards Keynsham, this type of area. We don't have a massive budget so tough to balance niceness of area with affordability.

 

[Carl]

Some good news on this - the new rates mean we have locked in a deal which is “only” £345 a month more. Still, it’s £135 a month saved for the next 3 years.

What rate did you end up getting?

 

[Pexbo]

Not a fan of living in the city so suburbs most likely - cheaper parts of Downend, Staple Hill, Emersons, maybe south towards Keynsham, this type of area. We don't have a massive budget so tough to balance niceness of area with affordability.

All good areas IMO, we are on the very edge of Kingswood basically in Hanham, and it’s got everything we need on our doorstep. Downend and Staple Hill in particular I think you will see a good return over the next 5 years as they seem to be the next gentrification spot.

 

[Pexbo]

What rate did you end up getting?

4.44% very happy with it

 

[JB08]

All good areas IMO, we are on the very edge of Kingswood basically in Hanham, and it’s got everything we need on our doorstep. Downend and Staple Hill in particular I think you will see a good return over the next 5 years as they seem to be the next gentrification spot.

I don't know much about Hanham but it's somewhere we've considered looking further into - do you like it?

 

[Pexbo]

I don't know much about Hanham but it's somewhere we've considered looking further into - do you like it?

Yeah, there is two lovely Pubs which are a short drive or long walk away - Chequers and Old Lock & Weir. Chequers does good food and a great roast. It takes like 15 mins to drive to the centre or 30mins by bus. Loads of dog walking places if that’s important to you - down on the river, Hanham hills, Willsbridge Mill. Then its short drives to Longwell / Emerson’s Green. Everything on doorstep really and we’ve not had any issues with crime or antisocial behaviour or anything (think the other side of Kingswood has issues with that to be fair)

 

[11101]

So I've been in the UK for a few months now and have been averaging a pay as you go energy bill of about 100 quid a month. I keep getting pestered by the energy company to sign up for direct debits as its cheaper. I asked them the cost...£300 a month. Am I missing something?

 

[fergieisold]

So I've been in the UK for a few months now and have been averaging a pay as you go energy bill of about 100 quid a month. I keep getting pestered by the energy company to sign up for direct debits as its cheaper. I asked them the cost...£300 a month. Am I missing something?

They massively over estimate your usage, and then try and jack up the direct debit for some reason. At the moment my gas smart meter is broken so they often do an estimated which is > 100£ per month than my actual usage. It's ridiculous.

 

[F-Red]

I'd expect to see more businesses, especially hospitality, close their doors in the first half of this year. Some of the business tariffs I'm paying at work at the minute are hitting £1800 a month.

 

[11101]

They massively over estimate your usage, and then try and jack up the direct debit for some reason. At the moment my gas smart meter is broken so they often do an estimated which is > 100£ per month than my actual usage. It's ridiculous.

I figured it was something like they were trying to get more money upfront. Feck them then, I'll stick to pay as you go.

 

[That'sHernandez]

I figured it was something like they were trying to get more money upfront. Feck them then, I'll stick to pay as you go.

They say you pay X amount year round so you ‘don’t pay more in winter’ but really it’s just so they can use the credit you have sitting doing nothing in their account as capital. We switched to pay as you go a couple of years ago and seen our bill reduced year round.

It might work for some people but for most I think it’s a scam

 

[buchansleftleg]

So I've been in the UK for a few months now and have been averaging a pay as you go energy bill of about 100 quid a month. I keep getting pestered by the energy company to sign up for direct debits as its cheaper. I asked them the cost...£300 a month. Am I missing something?

Their payment strategy is to get customers to build up a large credit balance, even at the time of biggest demand (depths of Winter). So they tend to set the direct debit amount at around 120 -130% of your annual usage. This is also partly to give them some wriggle room for the large amount of customers that have fallen into arrears. The energy companies also love to play the markets with the cash surpluses they hold so that is another reason they massively overestimate usage on direct debit bills.

The "rate" for Direct debit CAN be cheaper but it can also include lots of other restrictions that mean you can't benefit from cheaper off peak energy prices etc. The energy companies can just create a baffling series of rates at different times etc and this can be very hard to keep track of.

The estimate of usage can be miles off as they tend to base it on previous history at that address and some people can be more economical than others but once you have been in for a few months and have got a sense of how much your annual bill will be then you can ring them and get them to "reset" the direct debit figure. They will argue the toss with you when you ring up to do this, as they want to avoid your account being in surplus in the summer and going close to negative into Winter.

Some energy companies absolutelty hated us doing this because we were using way less energy than "expected" because we had solar water heating and PV solar energy, but had been doing so for 20 years so some energy companies clearly just base this on a very rough "Average" figure for a household irrespective of how it is setup.

 

[Balljy]

Their payment strategy is to get customers to build up a large credit balance, even at the time of biggest demand (depths of Winter). So they tend to set the direct debit amount at around 120 -130% of your annual usage. This is also partly to give them some wriggle room for the large amount of customers that have fallen into arrears. The energy companies also love to play the markets with the cash surpluses they hold so that is another reason they massively overestimate usage on direct debit bills.

The "rate" for Direct debit CAN be cheaper but it can also include lots of other restrictions that mean you can't benefit from cheaper off peak energy prices etc. The energy companies can just create a baffling series of rates at different times etc and this can be very hard to keep track of.

The estimate of usage can be miles off as they tend to base it on previous history at that address and some people can be more economical than others but once you have been in for a few months and have got a sense of how much your annual bill will be then you can ring them and get them to "reset" the direct debit figure. They will argue the toss with you when you ring up to do this, as they want to avoid your account being in surplus in the summer and going close to negative into Winter.

Some energy companies absolutelty hated us doing this because we were using way less energy than "expected" because we had solar water heating and PV solar energy, but had been doing so for 20 years so some energy companies clearly just base this on a very rough "Average" figure for a household irrespective of how it is setup.

I've noticed since I went on a Smart Meter that my balance is being credited based on usage during the winter months and is allowed to build a bit more during summer. The credit is every month and automatic and seems like a better system than the old ring up when there's loads sitting on the account.

 

[Pogue Mahone]

Two new words for you. “Shrinkflation” and “Skimpflation”.

Which? highlighted a range of products it said were subject to “shrinkflation” – when pack sizes are made smaller but the cost is not cut, or “skimpflation” – when expensive ingredients are reduced but the price consumers pay remains the same.

Listerine Fresh Burst mouthwash was “among the worst examples of shrinkflation”, it said, with the size of a bottle cut by 17%, from 600ml to 500ml. At Tesco it went up in price by 52p, meaning the price per 100ml was up 46%.

Examples of recipe changes found by Which? included two own-brand lasagnes, with Morrisons and Sainsbury’s reducing their premium ranges to 26% beef. Previously, Morrisons The Best lasagne had 30% beef, while Sainsbury’s Taste the Difference version had 28%.

At Tesco, the meat content of “tex mex” chicken enchiladas had been cut from 27% to 20%, while the pork in the Finest sausages had been reduced from 97% to 90%.

Tesco said the recipe for the sausages had been reformulated in 2021, before the inflation rate escalated, and that changes to its products were “often to make them tastier or healthier”.

In the dairy section, Which? found the organic dairy brand Yeo Valley’s spreadable butter had gone from containing 54% butter to 50%. The consumer group also highlighted cuts in the pack sizes of some Lurpak and Yeo Valley products.

 

[That'sHernandez]

Water bills to rise above inflation in April

https://www.bbc.co.uk/news/business-68172008

Can they just feck the feck off? I'm so fecking sick of these absolute parasites leaching our money to pay dividends

 

[Bert_]

Water bills to rise above inflation in April

https://www.bbc.co.uk/news/business-68172008

Can they just feck the feck off? I'm so fecking sick of these absolute parasites leaching our money to pay dividends

Saw an interview with the CEO of Water UK (not a water company, just a body that represents water companies who's entire organisation is funded by water companies i.e. your water bill) and he balmes the "victorian era" water system that hasn't been upgraded in decades. That's why the water companies need more money, it's needed to upgrade the infrastucture.

Water bills in England could be a quarter more expensive by 2030. But customers may not realise that almost 20p of every pound they pay goes to servicing company debts, rising to more than 25p for customers in some parts of the country.

England’s privatised water companies have a huge £60.3bn debt pile, which they say was taken on to fund essential infrastructure. The last 33 years of company accounts tell a different story about where the money from those loans has gone.

Between 1990 and 2023, English water companies have paid out a total of £53bn in dividends, meaning that they have given almost the same amount to shareholders as they currently have in debt.

https://www.theguardian.com/environ...l-is-swallowed-up-by-company-debt-interactive

 

[That'sHernandez]

Saw an interview with the CEO of Water UK (not a water company, just a body that represents water companies who's entire organisation is funded by water companies i.e. your water bill) and he balmes the "victorian era" water system that hasn't been upgraded in decades. That's why the water companies need more money, it's needed to upgrade the infrastucture.



https://www.theguardian.com/environ...l-is-swallowed-up-by-company-debt-interactive

https://www.ft.com/content/ee03d551-8eee-4136-9eeb-7c8b51169a99

Maybe the money for upgrades could come from some of the £1.4bn they paid to shareholders?

 

[One Night Only]

Why the feck are we paying companies debts if they're paying out to shareholders?

 

[Bert_]

https://www.ft.com/content/ee03d551-8eee-4136-9eeb-7c8b51169a99

Maybe the money for upgrades could come from some of the £1.4bn they paid to shareholders?

It's legalised racketeering.

 

[Frosty]

Why the feck are we paying companies debts if they're paying out to shareholders?

Here's an interesting take: https://dieterhelm.co.uk/regulation...ll-the-plug-on-the-water-privatisation-model/

 

[MarylandMUFan]

Honestly, I am shocked that basic services like water are privatized in the U.K.
That seems like such a clear role for government services to provide.

 

[MegadrivePerson]

Honestly, I am shocked that basic services like water are privatized in the U.K.
That seems like such a clear role for government services to provide.

It's different in some countries in the UK.

In Scotland for instance you don't even pay for water, although you sort of pay for it with your council tax.

It still blows my mind that water was ever privatised. The argument for privatisation is that it increases competition and will lead to a better price for the customer, but you don't have a choice where your water comes from!

 

[Vidyoyo]

Seems harsh to expect the government to be responsible for taking care of their citizens. This is their kingdom after all

 

[maniak]

In the spirit of this thread, portuguese energy company GALP announced a record profit last year of 1000 million euros! Yay the economy is great!

On a completely unrelated note, 1 in 5 portuguese can't afford to keep their houses warm in winter because the energy bills are too high.

 

[Don't Kill Bill]

In the spirit of this thread, portuguese energy company GALP announced a record profit last year of 1000 million euros! Yay the economy is great!

On a completely unrelated note, 1 in 5 portuguese can't afford to keep their houses warm in winter because the energy bills are too high.

'

What is the temperature in Portugal by month?


Portugal Average Temperature Table

Western Coast
Jan – Mar	17.1 °C, 62.8 °F	14,9 °C. 58.8 °F
Apr – Jun	21.8°C. 71.2 °F	17.5 °C. 63.5 °F
Jul – Sep	26.3 °C. 79.3 °F	19.5 °C. 67.1 °F
Oct – Dec	17.2 °C. 53.0 °F	16.1 °C. 60.0 °F

I'm crying a river for you here.

(I get your point though)

 

[maniak]

'

What is the temperature in Portugal by month?


Portugal Average Temperature Table

Western Coast
Jan – Mar	17.1 °C, 62.8 °F	14,9 °C. 58.8 °F
Apr – Jun	21.8°C. 71.2 °F	17.5 °C. 63.5 °F
Jul – Sep	26.3 °C. 79.3 °F	19.5 °C. 67.1 °F
Oct – Dec	17.2 °C. 53.0 °F	16.1 °C. 60.0 °F

I'm crying a river for you here.

(I get your point though)

I know your joking, but some info. The average night temperature in the winter in portugal is under 10 degrees, in some northern regions you get negative temperatures quite often.

You got your table from a tourist website and foreigners often get this idea that it's always great temperatures in portugal, but away from the coast in the winter it gets quite cold. Incidentally these are in general the poorer regions, so the people struggling more to pay the bills are the ones that get lower temperatures.

 

[Mr Pigeon]

It's different in some countries in the UK.

In Scotland for instance you don't even pay for water, although you sort of pay for it with your council tax.

It still blows my mind that water was ever privatised. The argument for privatisation is that it increases competition and will lead to a better price for the customer, but you don't have a choice where your water comes from!

Our water tastes better as well.

I know that seems like an ancient joke, but I'm not joking. The water down south tastes like shit.

 

[Stobzilla]

Our water tastes better as well.

I know that seems like an ancient joke, but I'm not joking. The water down south tastes like shit.

There is literally zero difference between Scottish water and North Yorkshire water.

Agreed with the rest of England though, swill.

North Wales is good as well.

 

[Mr Pigeon]

There is literally zero difference between Scottish water and North Yorkshire water.

Agreed with the rest of England though, swill.

North Wales is good as well.

You heard it here first, folks. Yorkshire is in the South.

 

[Stobzilla]

You heard it here first, folks. Yorkshire is in the South.

You Scots are weird about that shit so I was just playing along to be polite.

 

[The Corinthian]

 

[Jippy]

Mum says she is struggling on £60,000 a year and has had to ditch holidays, second car and Waitrose avocados

"I can't afford to go into the theatre anymore, I can't afford to buy my avocados in Waitrose."

https://www.lancs.live/news/cost-of-living/mum-says-struggling-60000-year-28713087

 

[Vidyoyo]

Mum says she is struggling on £60,000 a year and has had to ditch holidays, second car and Waitrose avocados

https://www.lancs.live/news/cost-of-living/mum-says-struggling-60000-year-28713087

Obviously this is silly but it might be the perceived threat of the cost of things that causes her to react that way. I can well believe a deep sense of fear generates some people toward extremes in this godless, increasingly joyless universe.

 

[Jippy]

Obviously this is silly but it might be the perceived threat of the cost of things that causes her to react that way. I can well believe a deep sense of fear generates some people toward extremes in this godless, increasingly joyless universe.

Yeah some of the stuff she's saying will hardly garner sympathy, particularly the bit about low income folk get benefits, but the fact quality of life is fairly poor on above average income sucks.

 

[Vidyoyo]

Yeah some of the stuff she's saying will hardly garner sympathy, particularly the bit about low income folk get benefits, but the fact quality of life is fairly poor on above average income sucks.

Yes I know what you mean. That income group should be much better off, as should people on low incomes