Energy

Almost every household has been charged the same price for their energy over the last year under the Energy Price Cap (EPC) and the Energy Price Guarantee (EPG), with no cheaper fixed deals to switch to. That has now changed, with Ovo launching a one-year fix for existing customers that undercuts the EPG level of £2,500 a year. Here's what you need to know...

Typical household energy bills will remain at £2,500 a year for at least three months from 1 April as the Government has heeded our and others' calls to postpone a planned 20% rise. The announcement ahead of today's Budget follows a month-long campaign led by Martin Lewis, founder of MoneySavingExpert.com, which has been backed by 130 charities and consumer organisations. 

Next month's 20% energy bill price rise is now likely to be scrapped by the Government as energy firms are preparing for it not to go ahead. That's what MoneySavingExpert.com (MSE) founder Martin Lewis told Nick Robinson on BBC Radio 4's Today programme this morning (Friday 3 March).

Energy companies have agreed to stop forced installations of prepayment meters, industry regulator Ofgem has confirmed. This includes the remote switching of smart meters into prepay mode, as well as physical meter installations through the use of court warrants. It follows reports that some households were being forcibly switched despite being clearly vulnerable. 

Prepayment meter customers typically pay more for their energy than those paying by direct debit. But the Chancellor Jeremy Hunt says from 1 July the "prepayment penalty" will end, cutting bills for over four million households.

A social tariff is the best way to stop millions of vulnerable people overpaying for energy, according to a new report from Citizens Advice published today. The consumer charity says eligible households could save up to £1,500 a year on their bills under the proposals. A social tariff is something MoneySavingExpert.com founder, Martin Lewis, has also long argued for. 

Tens of thousands of financially vulnerable people are likely slipping through eligibility cracks in the £150 Warm Home Discount support scheme, according to MoneySavingExpert.com (MSE). After direct contact between MSE founder Martin Lewis and energy secretary Grant Shapps, the minister has promised he will look into the complaints.

Struggling British Gas customers with prepayment meters will receive a £250 free credit to help with bills. The energy company would not tell us specifically who would be getting the payment but said it will identify those in need and make the payment without the need to apply.

Major energy suppliers STILL have millions of pounds worth in grants – in some cases worth thousands – available to support households experiencing financial difficulties. So check now if you're eligible to claim.

MoneySavingExpert.com and its founder Martin Lewis are among a coalition of organisations today calling on energy firms to take urgent action to ensure households on traditional (non-smart) prepayment meters can access the Government's vital energy help.