00:00The crunch point is going to come in May. May is the crucial time. In May, we will get the
00:06announcement of the July price cap. Now, we can be in one of two scenarios at that point. And this
00:11is something I talked through with the Secretary of State, because I think this is the key nodal
00:15point for whether it's going to really explode and whether there's a ticking time bomb or not.
00:20If we are in May, when the new price cap is announced, and we're starting the assessment
00:25period for the October price cap, and prices are back to normal then, well, then what the
00:30government would probably say is, look, this is only over three months, and it's the lowest use
00:34period of the year. And because wholesale prices have dropped, there will be lots of cheap fixes
00:38available at that point. So people should go and fix, and then you won't face the price hike,
00:43but then we'll still have to look after those people who are unable to fix if we're going to
00:46have a very heavy price hike coming in July. Still too early to say whether it'll just be a 5
00:51% or 10%
00:51rise, not good, I know, or whether it'll be a 20% or 30% rise and really hurting people.
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