Utilities

Martin Lewis looks at the big question of whether households should do nothing and stay on the energy price cap or fix their tariff on the back of the unprecedented announcement that the cap will shoot up by 54% in April. Watch the latest clip from The Martin Lewis Money Show Live for the MoneySavingExpert.com founder's view on what to do below (and for an explainer on the new £200 'energy bills rebate', see Martin's two-minute new energy loan video).

Energy regulator Ofgem has announced today that it will be reviewing whether to update the energy price cap more frequently in future as a result of the "unprecedented rise in wholesale market prices and volatility". This follows its decision yesterday to increase the price cap by 54% – adding a typical £700 a year to the bills of 22 million households from April.

Martin Lewis explains how a new £200 energy bill loan offered by the Government really works in his latest video. The initiative was announced this week in a bid to help households with the rising cost of living, following confirmation that typical energy bills will rise by £693 a year from 1 April. But there's lots of confusion about the loan, which MoneySavingExpert.com founder Martin debunks below.  

Tens of thousands of Three mobile users are set to lose a perk that allows them to roam at no extra cost in 71 countries. MoneySavingExpert.com can reveal that the mobile operator is 'forcing' certain customers to sign up to new plans, which means they'll lose their 'free' roaming benefit. It's a U-turn from Three, which had said it would keep inclusive roaming for those on older contracts.

Virgin Media is offering automated discounts to cable customers put on hold who call up seeking a price cut, MoneySavingExpert.com has learned, although we've also heard of users securing far better deals if they stay on the line and haggle in person.

Together Energy, including its subsidiary Bristol Energy, has ceased trading. In total, the two brands have about 176,000 household customers between them. If you're affected, your supply will continue and credit balances are protected. While it's likely you'll pay more now, there are no savings to be had by switching.

The recent collapse of many UK energy companies will add an extra £94 to household bills from next year as the firms left in the market look to pass on the costs of taking on stranded customers, according to a damning new report from Citizens Advice that is also highly critical of the regulator. 

Orbit Energy and Entice Energy, which have over 70,000 household customers between them, have become the latest energy providers to cease trading – meaning a total of 22 domestic energy suppliers have failed since September. If you're affected, your supply will continue and credit balances are protected. While it's likely you'll pay more now, there are no savings to be had by switching.

Bulb, which supplies more than 1.7 million households, has collapsed into a so-called 'special administration', becoming the largest firm to fail during the current energy crisis. This process, which hasn't been used before in the energy market, means Bulb will continue to operate as usual for existing customers for now. But it will no longer take on new customers and its future as a company is uncertain.

Neon Reef and Social Energy Supply, which have over 35,000 household customers between them, have become the latest energy providers to cease trading – meaning 19 domestic energy suppliers have gone bust since September. If you're affected, your supply will continue and credit balances are protected. While it's likely you'll pay more now, there are no savings to be had by switching.