THE ENERGY price cap will come into place this weekend, meaning the typical household energy bill will be frozen at £2,500.
The Energy Price Guarantee, which was announced by Prime Minister Liz Truss earlier this month, replaces the Ofgem price cap – currently set at £1,971.
It’s worth noting the Energy Price Guarantee only caps the cost per unit households pay, so your actual energy bill could be more or less than £2,500.
It comes as millions of Brits are being forced to sell their belongings to pay off their bills during the cost of living crisis, a shock report has found.
Which? said energy firms “can and should do more to help” after a new survey suggested 65% of households had resorted to measures such as cutting back on essentials, selling items or dipping into savings to fund the increasing costs of bills.
Read our cost of living live blog below for the latest updates….
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What are budgeting loans?
If you’ve been on benefits for six months, you may be eligible for a Budgeting Loan. This can be used for household items, rent in advance and travelling costs.
Check here if you’re eligible.
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Who are Don’t Pay?
According to Don’t Pay’s website, 192,920 people have signed up to support them.
They are a movement against the rise in energy bills, and their aims are:
- To demand a reduction in energy bills to an affordable level.
- To withhold payment together if they are ignored.
- They will take this action when they reach 1 million pledges to strike.
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Which other groups are protesting against the rising cost of living?
Enough is Enough, a campaign supported by the postal workers’ union, CWU, is organising 28 rallies.
Don’t Pay, which is spreading virally through more than 400 WhatsApp groups, is staging events in 18 towns and cities, according to Guardian Online.
They are backed by Insulate Britain, Just Stop Oil, and Extinction Rebellion.
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Cost of living protests trigger Britons to BURN their energy bills
British householders are set to burn their energy bills today, as they are set to protest about surging gas and electricity bills.
Guardian Online reports that supporters of Don’t Pay UK, a grassroots organisation that has the support of 200,000 people, will wield lighters today and cancel their direct debits unless the government does more to help them.
Many community organisations and trade unions are organising the protests to pressure the government further.
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What is the Household Support Fund?
£1.5 billion has been made available to support the most vulnerable to pay for their daily costs, like energy bills.
According to gov.uk, those who will benefit from such a payment include pensioners and families with children.
Food vouchers are also available to families via local authorities.
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What is the Energy Price Guarantee?
The Energy Price Guarantee will cut the unit cost of electricity and gas so that a typical household only pays £2,500 for their energy bills over the next two years from October 1.
It applies to all households and will save the average household £1,000.
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Roughly 6 million £150 Cost of Living payments available for disabled people
Almost six million £150 Cost of Living payments worth around £900 million were distributed yesterday.
The government announced on September 20 that those on disability benefits will receive the £150 immediately.
Most of them will be paid out in early October.
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New price cap – what you need to know
There is no absolute cap on the total energy a household pays for.
The government’s two-year price guarantee means the average unit price for dual fuel customers paying by direct debit for variable deals is limited to 34p per kWh for electricity and 10.3p per kWh for gas.
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How much are energy bills going up by?
Today marks an increase in the price of energy bills for millions of homes, despite government support to cap costs.
Politicians were forced to intervene after an 80 percent increase in gas and electricity bills ahead of this winter.
A standard bill has gone up from £1,971 to £2,500.
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Government support for rising energy bills not enough, head of charity warns
Government support for rapidly rising energy bills is not enough, the head of an energy charity has warned.
“The most vulnerable, including children, will be cold and hungry as energy prices spiral, despite government support,” Adam Scorer, from charity National Energy Action, told the BBC.
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Get up to £1,000 with the welfare assistance scheme
The welfare assistance scheme is similar to the household support scheme.
Your local authority provides you with vouchers for rent, energy bills, food and furniture.
The Sun has previously revealed that you can get up to £1,000 with this scheme.
However, not every council offers it.
Click here to find out more.
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How high could interest rates go?
The Bank of England has predicted interest rates to rise to 6% by Spring next year.
Typically, this would result in 7.5% mortgage rates far higher than what many Brits are currently paying.
Click here for more mortgage help.
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Turn off your appliances to save up to £500
Keeping appliances on standby can massively add to your bills.
While some are less damaging than others, it is best to turn off appliances at the plug when you can.
Here are some of the worst:
- Fridge freezers: adding £150 a year to bills
- Game consoles: adding £40 a year to bills
- Washing machine: adding £40 a year to bills
Click here to read more.
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October’s energy bill discount explained
From today, Brits will start receiving the first part of the £400 energy bill discount, designed to aid with the soaring price of energy bills.
However, it isn’t as simple as £400 appearing in your bank account.
The payments will be split into six almost-even instalments, running from October to March.
Some energy operators will send you the money, others will simply take it off your bill.
Click here to read more.
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New Energy Price Guarantee starts today
The new Energy Price Guarantee (EPG) will save the average household £1,000 over the next year.
The EPG puts a cap on the wholesale cost of domestic gas and electricity for those on the standard variable tariff.
The cap should mean that the average household pays no more than £2,500 a year.
But the cap only limits the amount firms can charge customers for each unit of energy.
So if you use more energy than the average household – expect to pay more than £2,500 a year.
-
Get up to £1,000 with the welfare assistance scheme
The welfare assistance scheme is similar to the household support scheme.
Your local authority provides you with vouchers for rent, energy bills, food and furniture.
The Sun has previously revealed that you can get up to £1,000 with this scheme.
However, not every council offers it.
Click here to find out more.
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Every shop giving employees a pay rise this year
As the cost of living continues to rise, employers are looking to ease the pressure on their workers.
Here is a list of highstreet workplaces giving their employees a pay rise this year.
- Aldi – £10.50 from September
- Asda – £10.10 from July
- Currys – £10.35 from October 30
- Lidl – £10.90 from October
- Marks & Spencer – £10.20 from October
- Morrisons – £10.20 from October
- Pret a Manger – £9.80 from April
- Sainsbury’s – £10.25 from October
- Tesco – £10.10 from July
Click here to read more.
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Cheap broadband deals for struggling Brits
Four million Brits are eligible for low-cost social broadband tariffs.
But despite a slew of firms providing low-cost deals, only 1.2% of eligible Brits have signed up.
Here is a list of companies which offer low-cost social broadband tariffs.
Click here for more information.
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Brits rush to log meter results ahead of price hike
The websites of energy companies were swamped by Brits attempting to log their meter readings ahead of today’s bill increase.
Brits were unimpressed to be met with waiting times.
One said: “The Shell Energy website has an 11-minute waiting time to just login. All I wanted to do was check my payment history.”
Another said: “Shell Energy – Meter reading web page not working. Typical.”
A Shell Energy spokesperson said: “Our website is accessible, and customers are making full use of the different ways they can submit their reads, including online, via the app, and over the phone.”
Click here to read more.
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How high could interest rates go?
The Bank of England has predicted interest rates to rise to 6% by Spring next year.
Typically, this would result in 7.5% mortgage rates far higher than what many Brits are currently paying.
Click here for more mortgage help.
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Today is your last chance to use old paper money
The Bank of England (BoE) is withdrawing the legal tender status of paper £20 and £50 banknotes after today, September 30.
Meaning, today is your last chance to use them.
They won’t become worthless overnight, however, you can still deposit them at your bank or in a Post Office over the next few weeks.
Click here for more information.
-
Turn off your appliances to save up to £500
Keeping appliances on standby can massively add to your bills.
While some are less damaging than others, it is best to turn off appliances at the plug when you can.
Here are some of the worst:
- Fridge freezers: adding £150 a year to bills
- Game consoles: adding £40 a year to bills
- Washing machine: adding £40 a year to bills
Click here to read more.
-
October’s energy bill discount explained
From tomorrow, Brits will start receiving the first part of the £400 energy bill discount, designed to aid with the soaring price of energy bills.
However, it isn’t as simple as £400 appearing in your bank account.
The payments will be split into six almost-even instalments, running from October to March.
Some energy operators will send you the money, others will simply take it off your bill.
Click here to read more.
-
New Energy Price Guarantee starts tomorrow
The new Energy Price Guarantee (EPG) will save the average household £1,000 over the next year.
The EPG puts a cap on the wholesale cost of domestic gas and electricity for those on the standard variable tariff.
The cap should mean that the average household pays no more than £2,500 a year.
But the cap only limits the amount firms can charge customers for each unit of energy.
So if you use more energy than the average household – expect to pay more than £2,500 a year.
-
Get up to £1,000 with the welfare assistance scheme
The welfare assistance scheme is similar to the household support scheme.
Your local authority provides you with vouchers for rent, energy bills, food and furniture.
The Sun has previously revealed that you can get up to £1,000 with this scheme.
However, not every council offers it.
Click here to find out more.
