Martin Lewis urged UK bill payers to ensure that their energy direct debit bills are correct - warning that people could be paying thousands more than they need to. Speaking on his podcast, the financial wizard explained that Ofgem has recently introduced "tweaks" to UK energy prices at the turn of the year.
It comes after the regulatory body upgraded their price cap from £3,549 to £4,279 as of January 1. Martin told listeners that for most people, it wasn’t going to be a big change as households are covered by the Energy Price Guarantee, but some have seen their energy costs increase by a "material amount" due to regional differences in the Ofgem price cap, as reported by The Mirror.
The MoneySavingExpert founder first explained how the Government’s Energy Price Guarantee worked and how much the energy bills for each payment method - direct debit, prepayment and pay on receipt of bill - have risen slightly. Martin then told listeners that it was "absolutely worth checking" if their energy direct debit was correct.
