Martin Lewis issues important update on ‘unfair’ increases in monthly energy direct debit payments
Martin Lewis has helped millions of households through the energy crisis by sharing the latest updates on planned increases coming later in the year and realistic ways to manage rising gas and electricity costs .
Earlier this week, the finance guru shared on social media that the price of wholesale gas is at its lowest level since October 2021, but warned it was still nearly three times the old rate. typical execution.
This could mean that Ofgem’s next price cap review in October could be lower than the 30% currently predicted by energy analysts.
While that’s not exactly what energy consumers want to hear, the outlook is less bleak than what we’ve faced since February’s announcement of April’s 54% price cap.
However, Martin is still concerned about energy customers who have seen their monthly direct debit payments increase by more than the 54% price cap and has answered several questions on the subject during his many television appearances.
He recently explained on This Morning three reasons why energy drawdowns may be higher for some people.
Martin explained, “First, if you were on a patch and that patch ended, because that would have been cheaper than the price cap – but that doesn’t apply in this case.
“Number two you went to a fixed rate not a price cap rate – just check that didn’t happen because some energy companies pushed hard and you may not have realized that the offer they made to you was an offer as opposed to a mandatory thing you had to do.
“Check if you’ve upgraded to fixed rate rather than variable rate as they are much more expensive.”
But the founder of MoneySavingExpert.com explained that the third reason, and the most common reason, why your energy bill is well above the ceiling price is that your estimate has gone up.
And now he has made an important request to everyone who pays their bills by direct debit in hopes of ensuring fairness among all energy suppliers.
Whether your direct debit has stayed the same or has increased, Martin urges everyone to complete a survey on the MoneySavingExpert.com website so that the results can be submitted to Parliament and Ofgem to see if “energy companies unfairly increase DCs [direct debits]”.
In a post on Twitter, he wrote: “Important: unfair increases in automatic energy bill
“We are collecting data to submit to parliament/Ofgem to see if energy companies are unfairly increasing DDs. Whether you think yours is unfair or not, please take 5 minutes to complete our survey.
He followed that up with another tweet after some people responded to say their payouts were fair.
He said: “Some people say ‘actually my business has been really fair’.
“Awesome, please take the survey – we look at trends both in the market and between companies.
“PS, we are obviously aware that more people who feel aggrieved will fill it out.”
You can complete the five-minute survey on MoneySavingExpert.com here.
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