Martin Lewis has revealed his 12-point plan to survive the crippling cost of living crisis after sounding the alarm for yet more eye-watering bill hikes.
04.05.2022 - 13:25 / manchestereveningnews.co.uk
Martin Lewis' Money Saving Expert website plans to release the results of a huge survey after energy companies were accused of taking more money than they need from customers. It comes as energy regulator Ofgem revealed it had issued 'Compliance Reviews' to several energy firms.
With huge price hikes hitting customers and some energy firms boasting massive profits, energy suppliers are coming under increasing scrutiny from the public and the press. The massive rise in gas and energy bills means that customers are facing paying an extra £700 a year for their fuel.
Business Secretary Kwasi Kwarteng announced today that Ofgem suspects that some energy companies have been charging customers more than they needed to through their direct debits. He took to Twitter to explain the situation.
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The MP said: "Some energy suppliers have been increasing Direct Debits beyond what is required. I can confirm @Ofgem has today issued Compliance Reviews.
"Suppliers have three weeks to respond. The regulator will not hesitate to swiftly enforce compliance, including issuing substantial fines."
Ofgem is the country's independent energy regulator and works to protect customers and make sure the market is operating correctly and fairly. If companies act unfairly or break the law, Ofgem can fine the firms.
Martin Lewis said his website, Money Saving Expert, was already aware that many customers may have been charged more than needed via their direct debits and had conducted an online survey to find out the extent of the issue. The survey garnered more than 20,000 responses and Money Saving Expert plans to release the results soon.
Retweeting Mr Kwarteng's
Martin Lewis has revealed his 12-point plan to survive the crippling cost of living crisis after sounding the alarm for yet more eye-watering bill hikes.
Martin Lewis has revealed his 12-point plan to tackle the cost of living crisis which is affecting millions of households across the country. He urged the government to address the issue as he warned energy prices could be set to rocket by another 30 per cent by the end of the year.
Money Saving Expert Martin Lewis has issued a passport warning to all adults in the UK. He's warned that people risk losing all of the money they have paid for their holidays if they're not properly prepared.
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Martin Lewis has replaced Richard Madeley on Good Morning Britain for the first show of the week. On Monday 9 May the 65 year old was replaced by the financial journalist who appeared alongside Susanna Reid, which ITV viewers were delighted to see. The Money Saving Expert took the opportunity to discuss the latest changes to the cost of living as well as university fees and viewers rushed to Twitter to praise the switch-up.
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