Energy dominates the news again. My choice if you want a positive article Let us optimize your heating. For statistics on how bad it already is, see Citizens Advice’s new cost of living dashboard: The crisis we see unfolding.
Tweet of the week
Energy company pic.twitter.com/gHaOIGVE7c
— TwistedDoodles (@twisteddoodles) July 28, 2022
Our new cost of living dashboard: The crisis we see unfolding Advice to citizens: There’s no getting around how bleak the situation is. Electricity bills rose to £2,000 in April and are expected to rise even higher in October to £3,250.
Let us optimize your heating Nesta: Anyone with a combi boiler (gas heating, no hot water tank) should read this. And debt counselors should encourage our clients to read it. You could reduce your gas consumption by 6-8% by making small changes to the way you heat your home. And all without changing the temperature in your rooms.
Martin Lewis says energy bills are in a “desperate” state BBC: “Between October last year and October this year, a typical home will pay £2,300 a year more in electricity bills alone.”
Energy companies are forcing thousands of customers to use pre-paid meters as bills soar Big problem: This year, courts have issued more than 187,000 warrants to energy companies to break into customers’ homes and forcibly install prepayment meters.
Electricity debt now dominates household debt as charities call on Ofgem to ‘step up’ help for those struggling in the face of price cap hikes Mail: The average electricity debt among those who came to StepChange is now £1,399.
£400 discount on electricity bills to support households this winter gov.uk: Tells how the £400 will be paid out, which depends on how you pay your electricity bills. My note: the two big concerns are that people will fall for scammers asking for their bank details/offering help with their claims, and that people with old pre-paid meters won’t cash in the vouchers they’ve received as they may not see/may think , that they are frauds. What a world we live in.
Energy pricing and the future of the energy market House of Commons BEIS committee: Condemning Ofgem for poor regulation and the government for favoring competition over good regulation. Calls on the government to consider introducing a social tariff for the most vulnerable consumers.
The biggest return to the catalog I’ve seen so far, see How to get money back from catalogs and credit cards:
A fifth of UK households now have ‘negative disposable income’ Guardian: On average, one in five are £60 short each week between their pay and the money they need to cover essentials, including rent.
Cost of living: Britons are borrowing more and saving less as the crisis begins to hurt sky: Analysts say the figures are “only the tip of the iceberg” as wealthier households dip into savings and poorer ones increasingly rely on credit.
Buyers lag behind the ‘buy now, pay later’ appeal Time (paid): So far this year, 41 percent of customers have missed at least one repayment, up from 11 percent last year.
As long as inflation does not decrease, it is necessary to stop the payment of benefits, according to the deputies Guardian: Committee calls for ‘respite’ for millions whose Universal Credit is docked to pay off advances, debts or overpayments
School uniform: UK parents urged to buy early amid supply problems Guardian: Supplier warns of Covid-related disruption amid calls for VAT to be levied on schoolwear for over-14s
FCA Consumer Duty: What is foreseeable harm? And why is it important? Trust Money Advice: The FCA’s public firms “must take proactive and reactive measures to avoid harming customers through their conduct, products or services….[including] their design, terms, marketing, [sales] and support.”
News summaries released every Sunday.
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