BILL BLOW
Martin Lewis warns thousands of Brits will spend MORE on energy bills from next month – here’s why
MARTIN Lewis has warned thousands of Brits will spend more on energy bills from next month.
The money-saving expert explained in his Budget special last night why such costs will start climbing again.
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He said that the energy bill support scheme, which thousands across the country have been automatically receiving, will come to an end on March 31.
This means such bills will no longer be subsidised, seeing the costs fall back on Brits.
Martin explained: "The £66-£67 a month that you've been getting ends in April.
"So you are going to need to budget for the fact that you're going to pay more.
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"The less you use, the proportionally more you're going to feel that - if you're a very heavy user you wouldn't notice it.
"If you've got smaller bills that £66-£67 a month is a much bigger proportion."
The scheme was first announced in July last year, with the government saying all households with a domestic electricity meter or direct relationship with their provider would receive a discount on their energy bills.
In most cases, the discount was applied automatically by energy firms so customers didn't have to do anything.
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The £400 payment was split into six instalments - which started being made in October - shall end next month.
In the ITV Budget special, Martin also revealed how Brits on Universal Credit can get free cash with specific savings account.
And he shared an easy trick that could save you hundreds on your energy bill.
Meanwhile, the money saving expert warned thousands of Brits are missing out on free help with childcare costs.
Yesterday Martin offered his verdict on the Budget - he spoke to tax, energy bills, pensions, and free cash.
He was speaking after seven major changes were announced for childcare amid yesterday's Budget, while the price of a packet of cigarettes rose to £14.39.
Elsewhere, Jeremy Hunt gave millions of workers a pension boost by scrapping the lifetime pension allowance (LTA) to tempt people to work longer.
The Energy Price Guarantee (EPG) cap will also continue at £2,500 for another three months.
It was meant to rise to £3,000 a year for households in April but Hunt scrapped those plans today.
This will save the average household around £160, the government said.
Meanwhile, it was also announced drivers won't pay more for fuel as duty was frozen.
What energy bill help is available?
A £900 payment will be going to millions on means-tested benefits and Universal Credit this year.
To be eligible for the payment, households will need to be claiming at least one of the following:
- Income-based Jobseeker’s Allowance
- Income-related Employment and Support Allowance
- Income Support
- Pension Credit
- Tax Credits (Child Tax Credit and Working Tax Credit)
- Housing Benefit
- Council Tax Support
- Social Fund (Sure Start Maternity Grant, Funeral Payment, Cold Weather Payment)
- Universal Credit
Elderly Brits will receive another one-off £300 pensioner cost of living payment.
Those with certain disabilities will also qualify for a further £150 cost of living payment.
Energy suppliers also offer plenty of energy grants and schemes to help you out if you're struggling. Here's a list of schemes open right now:
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- British Gas Energy Trust Individuals and Family Fund
- British Gas Energy Trust
- EDF Customer Support Fund
- E.ON and E.ON Next Grants
- Octopus Energy Assist Fund
- OVO Energy
- Scottish Power Hardship Fund
There's also a one-off fuel voucher from your energy supplier if you're on a prepayment meter.
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