Energy Price Cap to Rise 10%.

[Robbie]

As you may be aware, OFGEM are going to raise the Energy Cap by 10% on first of October.

Some good info on this video by Martin Lewis.

 

[BromPie]

It's outrageous how they lower the prices, only to raise them even higher than before. It shouldn't be this high, but at the very least, it should stay at a reasonable level. How much profit does an energy company really need to make at the expense of people's lives?

[thommo]

Martin Lewis gives good advice. People should listen to him to lock in their payments. It helps save money in the long run. It’s wrong that prices are going up though.

[KingMaynard]

Why does it have to go up? I’m not sure if it’s relevant, but I did read this on the Citizens Advice site.

https://citizensadvicegateshead.org.uk/energy/why-is-ofgem-increasing-the-energy-price-cap/

[liampie]

i work long hours to be able to fuel my car, pay my utility bills and food. then have to repeat to make sure i can save money, instead of spending it all. the uk is very poor with helping and making living conditions better. i know there is worst issues that exist, but we are supposed to be one of the best countries. its an unfair increase. i am already agreed to a tariff which is okay for me but the cost of living is too high. 

[Robbie]

@liampie I extended my fixed tariff a few days ago so we will save getting the increase at least till next August. But many customers cannot get a fixed tariff, so it will be tough for them.

[Fan of Big Tone]

I’m a big fan of Martin Lewis, I get weekly emails with his money saving tips, thanks for sharing this @Robbie I’ll be looking at getting a fixed tariff.

[CliftonMagpie]

It makes sense to join a fixed tariff. However, if prices were likely to go down, people would be locked in. Unfortunately, prices won’t go down. The UK needs to control energy prices. Martin Lewis is brilliant with his financial advice.

[Chris]

It does make a lot of sense to beat the price rise, although not everyone will be able to do this. I do hope something changes to make it easier for people, because the cost of living does make things harder. I watched the news earlier, and it had a segment on this and the water price. Trying to justify giving the stakeholders money from the profits, at the expense of people who can't do much on a daily basis is just wrong.

Meanwhile, these "stakeholders" make so much money, they don't have to worry.

[Blake]

I like Martin Lewis; he provides excellent financial advice, and his analysis helps people avoid being affected by changes.