Beware the vultures are circling

14th Mar 2022

 

I can tell you, from personal experience, that energy costs are a hot topic on the doorstep. People are genuinely concerned about how they can afford to pay. And this is before national insurance rates are increased. The only thing that I believe is stopping people from getting angry are the scenes of devastation, carnage, and misery on our TV screens each night, it does put things into perspective.

But those emails and letters are being received in homes up and down the country, mine included, informing me that my monthly direct debit will be increasing by over 50 per cent. And just yesterday, my neighbour popped his head over the hedge to tell me how much he had been quoted for heating oil (an unregulated sector) and he was simply going to use what he’d got then turn the boiler off and resort to burning logs.

The Government is lucky. We are rightly distracted by events in Ukraine and Spring is here, so demand for heating will soon tail off. But if they don’t do something more substantial to help consumers very soon, they will be hit by a political tidal wave as voters blame them. Before you say, “well that’s a bit unfair it’s an international problem, not just one faced by the UK”, I tried that in a former life, it doesn’t work. Government always get the blame.

Away from any sympathy we may have for a Chancellor trying to get a grip of rising energy prices, economic growth that’s tardy, and demands for spending on a whole range of areas, let’s keep our eyes open for the vultures circling above. They’ll take advantage of the situation and the consumer will be their prey.

I’ve already seen claims about how to cut bills, some sensible, some possible, others outright lies. And to my mind, those who seek to take advantage of the financially vulnerable, preying on their insecurity, deserve to be condemned to a special place, where it is permanently hot and a bloke carries a pitchfork.

Best Wishes

Mike Foster, CEO

Mike Foster

EUA's Chief Executive

 

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