Martin Lewis has issued a warning to anyone looking to put money away in a savings account ahead of major potential changes this week.
02.11.2023 - 12:31 / ok.co.uk
Martin Lewis has issued a warning to all energy customers who pay by direct debit, as he reveals that despite the energy price cap dropping, many people's bills are still going up.
The money-saving expert highlighted this issue on his website and ITV Money Show. He said: "Rates dropped on October 1, but many direct debits have still risen.
"So do an up-to-date meter reading, make sure you're not in any energy debt. Go online and use an 'is my direct debit correct' calculator where you put in your annual usage and it should tell you roughly what you should be paying." This tool can help you figure out if you're paying too much.
If you are, Martin says you have the right to ask for a fairer direct debit under the energy company's licence conditions. "So you politely get on the phone - it's not the call centre operative's problem - and you say 'can you justify why the direct debit is so high when I'm not using anywhere near that much, my calculation shows I shouldn't be paying that much and I would like you to lower it' and you come to an arrangement of where it should be lowered." "If they refuse to well you can take them to the Energy Ombudsman if you think it's unfair." The Energy Ombudsman helps to resolve disputes between customers and suppliers free of charge.
It recommends customers first raise a dispute with their supplier and wait eight weeks before contacting them. Following this they will review the dispute and tell you what their decision is as well as what the next steps will be.
Martin Lewis has issued a warning to anyone looking to put money away in a savings account ahead of major potential changes this week.
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