As the energy price cap is set to rise again, Martin Lewis has issued important advice to anyone paying by Direct Debit.
Experts predict that the energy price cap will rise by a staggering 64 per cent in October - this is on top of what people are paying now which has already seen a 54 per cent rise back in April. Come October, the average energy bill is estimated to reach over £3,000.
With this, the financial guru gave a warning while speaking to Alison Hammond and Dermot O'Leary on ITV's This Morning earlier this week. He explained that energy regulator Ofgem looked into energy firms and found a number of them to have "serious weaknesses" and energy companies are being asked to review Direct Debits.
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He explained: "They have weaknesses in their processes, so there is action happening on Direct Debits. We would expect direct debits to go up - if it has gone up by more than 100 per cent, they are being asked to review it. So if it is you, and yours has gone up by more than 100 per cent, the company should be reviewing it."
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This comes just after he warned of a "catastrophic" future that will "cost lives" as energy bills will rise to record breaking amounts.
Martin added: "The latest prediction for October is up 65 per cent from where we are now, taking a typical bill to £3,244. It will then rise again by four per cent in January to £3,300 and probably start to drop but only by five per cent next April."
If you are concerned about your direct debit amount, it is worth calling your energy firm if it has risen more than 100 per cent, as Martin told a caller earlier this year.
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