Martin Lewis spent most of Friday last week appearing on various TV and radio programmes commenting on the new price cap announced by Ofgem. The consumer champion made several passionate pleas to the UK Government to put additional financial support in place to help millions of households across the country who face the very-real prospect of choosing whether to eat or heat their homes this winter.
On August 26, the industry regulator announced that energy bills for 24 million households on a standard tariff will increase by 80 per cent from October, taking the average household bill from £1,971 per year to £3,549. The cap remains in place until December 31 when energy analysts predict it could surge again to around £5,400 in January and £7,000 in April.
For many, the prospect of facing steeper Direct Debit payments is making them consider cancelling this payment method and paying their bills directly. However, in a new video released on social media and YouTube, Martin Lewis warns people that doing so may seem like a win in the short-term, but long-term, there would be a higher price to pay - some £200 extra a year.
