When you need to phone up a business, whether it's your energy provider, a retailer or anything in between, it's often because something has gone wrong and you're trying to sort it out.
23.11.2023 - 10:43 / manchestereveningnews.co.uk
Martin Lewis has issued a warning to billpayers that their bills are set to skyrocket.
It comes after Ofgem increased the energy price cap in response to rising wholesale prices. The industry regulator confirmed that the price cap will rise from £1,834 for the average household to £1,928 from January 1, 2024.
The money-saving expert explained to his followers on social media that the 5 per cent rise means they'll pay "more than any winter before" as it comes alongside the scrapping of one vital form of government support. Overall, the unit rate on electricity will go up 4.6 per cent while gas will go up 7.6 per cent.
Read more: Everything chancellor Jeremy Hunt said about pensions in autumn statement
Read more: How much monthly DWP Universal Credit payments will be in 2024/25
Writing on X, formerly Twitter, Martin explained: "So bigger rises for gas households than electricity and proportionately bigger for higher users (due to impact of unit rates). Yet the reason you'll pay so much more is as last winter every home got £66/mth govt reduction.
"You don't have that this winter. So while Oct 'inflation dropped due to cheaper energy bills' - that ignores the missing govt support, in reality we're paying more for energy..."
According to Martin, it means that households should have paid on average £198 a month in January 2023 compared to £160 in January 2022. However, with the government discount factored in, people actually paid around £132 a month.
He added: "In other words a typical home pays £28/mth more this winter, or factor in seasonal adjustments due to high winter use and as a back of envelope calculation it is more like £45more."
Similar warnings of rising bills in the winter have come from other
When you need to phone up a business, whether it's your energy provider, a retailer or anything in between, it's often because something has gone wrong and you're trying to sort it out.
Martin Lewis has issued a message to anyone with a student loan, as over one million people overpaid on their loan repayments in the last tax year. It means students could be owed hundreds of pounds.
As the temperatures continue to drop across the UK, we’re all reaching for the thermostat to crank the heating up, but with the current cost of living crisis we’re feeling the pinch when it comes to our heating bills. As Martin Lewis said, try to heat the person not the room when it comes to staying warm this winter, and it seems savvy shoppers have discovered the perfect low cost way of doing exactly that.
Martin Lewis has issued urgent Student Loan advice to over 1m people tonight.
Millions of people on disability benefits including Personal Independence Payment (PIP), Disability Living Allowance (DLA) and Attendance Allowance will see their payments rise by 6.7 per cent next April after the uprating was confirmed by Chancellor Jeremy Hunt during the recent Autumn Statement.
HM Revenue and Customs (HMRC) has published the proposed new weekly payment rates for people claiming Child Benefit or Guardian’s Allowance, which will come into effect next April. The guidance was published on GOV.UK following Chancellor Jeremy Hunt’s announcement at the Autumn Statement that State Pensions will rise by 8.5 per cent (triple Lock earnings growth) and benefits will increase by 6.7 per cent (September inflation rate).
December is right around the corner which means many people will be getting their pennies together for Christmas shopping.
Martin Lewis has pointed out that "it isn't fair" after someone complained to him about an extra benefit charge.
Chancellor Jeremy Hunt announced a series of new measures to reward people in work, help make work pay, and reform the welfare system, during the Autumn Statement on Wednesday. The measures aim to build on the Department for Work and Pensions (DWP) new ‘Back to Work’ plan, which focuses on helping disabled people and those with long-term health conditions who have difficulties finding employment to overcome barriers to secure and stay in work.
OK! has put together a comprehensive guide to the shopping event with answers to common questions like when is Black Friday 2023? Skincare enthusiasts, listen up! Elemis has kicked off its Black Friday sale, offering discounts and freebies that will have you jumping for joy, and if that wasn't enough, we've even figured out a way to make the most of the deal. Elemis has been known to offer some amazing deals and discounts lately, and this latest sale is no exception, because you can save nearly two-thirds on the regular retail price.
There was some good news for Greater Manchester in the autumn statement today (November 22), but local leaders have warned that many people will still face a difficult winter. Jeremy Hunt announced changes to pensions, benefits and national insurance in his speech this afternoon, telling MPs the country has 'turned a corner' after a turbulent time which saw some 'difficult decisions' made.
NHS staff are travelling from all over the country to Manchester to perform songs, poems, plays and more to show of an array of creative skills. 'Our National Health Stories' is an England-wide project with the finale in Manchester, sharing what it's like to work in the NHS in 2023.
Chancellor Jeremy Hunt made some major announcements as part of today's autumn statement which will affect millions receiving Universal Credit from the Department for Work and Pensions (DWP).
Chancellor Jeremy Hunt delivered his autumn statement in the House of Commons on Wednesday (November 22) saying the country's economy is "back on track".
The price of duty on beer, cider, wine and spirits will be frozen until next summer. Chancellor Jeremy Hunt announced in his autumn statement on Wednesday that alcohol duty will be frozen until August 1 next year.
Martin Lewis has issued a warning to anyone looking to put money away in a savings account ahead of major potential changes this week.
Martin Lewis has issued a warning to shoppers ahead of Black Friday, the biggest shopping event of the year.
Scotland’s Finance Secretary has urged the Chancellor to avoid "ill-timed tax breaks" for wealthy people in the upcoming Autumn Statement.
A good hair day can make you feel like a million bucks and hair care fans say you won't even have to spend £20.
Martin Lewis has a word of advice for shoppers after Amazon kicked off its Black Friday sale early.