Martin Lewis has urged bill payers to do one important thing before the end of the month. Energy bills are set to increase dramatically after regulator Ofgem raised its price cap by 54 per cent from April 1 – rising by £693 from £1,277 to £1,971.
In preparation for this, Martin has advised households to take a metre reading on March 31. By doing this, you can then go to your energy provider and explain exactly how much energy you used before the price cap increase came into effect.
Speaking on his ITV Martin Lewis Money Show Live broadcast last week, the MoneySavingExpert said: “That way you draw a line in the sand that says to your energy firm, I’ve only used this amount at the cheaper rate. Don’t start charging me more on the higher rate and estimating I use some of it afterwards.”
In a separate video posted this week, Martin reminded those who are on older prepayment meters to check if they can “stockpile” energy now, the Mirror reports. This would mean topping up now and then using this energy after the price changes, meaning you’d be charged for your gas and electric at the rate that applied when you topped up.
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Money Saving Expert contacted 11 of the biggest energy suppliers – including British Gas, SSE, E.on and EDF – and only one said the stockpiling trick wouldn’t work.
Scottish Power was the only provider that said the additional amount you would’ve paid under the new rates would be recovered by adding a small amount of debt to your meter at your next annual statement. Money Saving Expert has asked Ofgem if Scottish Power is allowed to do this but hasn’t issued a further update.
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Martin has also urged families to check how they can claim a £150 council tax rebate from April. The council tax rebate will apply to homes in council tax bands A, B, C or D in England and Wales – roughly 80 per cent of properties – but not those who live in council tax bands E, F, G and H (or I as well, in Wales).
Those who live in England have been told they’ll receive the rebate automatically if they pay for their council tax by direct debit. If you don’t pay by direct debit, you’ll be instructed on how to apply from your council.
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