Rishi Sunak increases energy bills discount – and you now WON’T have to pay it back
Martin Lewis: Tips on how to get a good fixed energy deal
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The Chancellor made the announcement at 12 noon today in the House of Commons. This replaces the previous £200 loan towards energy bills which many people said they didn’t want.
The Government has also come under a lot of pressure from Money Saving Expert founder Martin Lewis who has been pushing the Government to do more to help people who are struggling.
The announcement follows warnings from Ofgem this week that millions of people could see their energy bills rise by a staggering £800 to £2,800 later this year.
Jonathan Brearley, Ofgem’s chief executive said: “The price changes are genuinely a once in a generation event not seen since the 1970s.”
British householders on the energy price cap have already experienced a rise of £693 to their annual energy bill, with those on the lowest incomes left with no wriggle room.
Martin Lewis hosted a one hour TV special this week to help people with the cost of living crisis.
During the show the money saving expert shared tips on how to manage energy bills as prices soar.
He spoke to one caller Roger who had seen his direct debit triple from £46 to £146.
Martin said it’s not unusual for someone’s bill to increase by up to two and a half times, but three and a half times seemed extreme.
He advised the caller to give his energy supplier a call and ask them to explain why it has increased three and a half times.
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He also suggested Britons ask their existing energy provider for a fixed energy deal if it works out at no more than 30 percent above the current price cap.
Martin said: “If you can find a deal around 30 percent more than the current price cap then it’s probably worth doing.
“The cheapest open market fix at the moment – forget it – it’s 42 percent.”
People should also check they are receiving all the benefits they are entitled to at Gov.uk
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