Soaring prices the number one money

ENERGY price hikes kicked in last week, hitting households across Wales. Local democracy reporter Richard Youle visited the town of Pontarddulais, near Swansea, to hear the stories – and of the sense of powerlessness – of those not on fixedterm energy contracts.

“There’s nothing we can do about it, but it’s frightening, isn’t it?” said Matthew Cromwell, who runs No. 86 Estate Agency, St Teilo Street. “I’m not rich by any means, but I’m comfortable.”

Matthew said he lived in an old house with high ceilings which took time to heat up. His monthly energy bill was rising from £200 per month to around £320.

“It’s becoming like another mortgage,” said the 43-year-old. “Next winter will be the test. I think we will be wrapping up warm, and shutting the curtains and doors, and putting logs on the fire.”

Elizabeth Walls is 68 and works three days a week. Her anger at what’s coming is palpable. She said her monthly gas and electric bill a little over a year ago was £70 per month. It has risen since then and was now, she said, up to £202 per month.

“It’s affecting me massively,” she said. Luxuries like new clothes and holidays would, she said, be put to one side. “I should be retired by now, but if I retire my standard of living goes down,” she said.

“I feel so sorry for people on benefits who are really struggling. I cannot understand why the Government has not intervened and put a tax on the energy companies.”

Lorna Powell, who lives in nearby Llannon with her husband, heats the house with heating oil.

“My husband knows how much it’s going up,” said the 52-year-old. “Some heating oil companies can’t deliver for about five weeks, and they can’t give you a price. It just creeps up and up.”

Heating oil is not protected by the energy price cap, and if anything price hikes are steeper than those of gas and electricity.

“The Government should be doing more,” said Lorna. “It feels they are making the less fortunate even less fortunate.”

The majority of householders will receive £150 of Government support towards energy bills on April 1.

All householders will get £200 off their bills from October, but this sum will be clawed back over the following five years.

Some people will also qualify for discretionary relief. Chancellor Rishi Sunak has not ruled out further measures in October.

Factors including the rapid expansion of the global economy after Covid lockdowns have pushed gas prices up.

A hot summer in Asia in 2021 increased demand for electricityhungry air conditioning units. Weeks of balmy weather in Europe last summer becalmed wind turbines and meant more gas was needed to generate electricity. The war in Ukraine has sent wholesale gas prices into a spin.

“You can’t live in the cold,” said Craig Lewis, of Pontarddulais. He said his electricity bill was about to go up by more than 50%. His gas bill increase will be lower.

“I don’t use a lot because I live on my own,” said the 38-year-old. “You just pay it, I guess. But even Martin