The Prime Minister has just announced that an Energy Price Guarantee (EPG) will be introduced from the 1st October under which all GB domestic energy bills will be capped for two years at the cost of £2,500 for the average household (plus all households will receive the £400 Energy Bill Support Scheme previously announced). The Prime Minister claims this will save a typical household £1,000 a year over what they would have had to pay, and reduce inflation by 4%. Park homes, homes on heat networks, Northern Ireland homes and those using heating oil will be supported by a fund to ensure all UK consumers are supported. More to follow…*
The first of April saw energy bills increase by 54%. Although this is a worrying time for many households across Britain, especially with the anticipated rise in energy bills again in October, help is available.
So, what support is on offer and how can you find out more?
Chancellor Rishi Sunak announced (26th May) that every household in the UK will get an energy bill discount of £400 this October to help tackle soaring prices. This £400 is a grant and replaces the original proposal of £200 which was intended to be a loan. So households won’t need to repay this £400 in the future.
The lowest income households (those on means-related benefits) will also get a payment of £650 to help with the cost of living.
Around 6 million pensioner households will receive a separate one-off payment of £300, and individuals receiving disability benefits – groups who are “most vulnerable to rising prices” will get £150.
The Emergency Household Support Fund, allocated by councils in England, is being extended by £500m to £1.5bn. The devolved governments will receive equivalent funding.
Read the Government’s Cost of Living Factsheet which summarises all the financial support available.
Find all the latest updates on the government website.
Around 29 million eligible households across Britian will receive a non-repayable £400 discount on their energy bills this winter. Households do not need to apply for the discount. Energy suppliers will deliver this support to households with a domestic electricity connection over 6 months from October 2022.
More information can be found on the Government’s website.
If you live in a property in council tax bands A to D, you are likely to receive a one-off payment of £150 from the Government to help with rising energy bills in the midst of the cost-of-living crisis.
80% of households are eligible for this rebate, which will be paid between April and September 2022.
If you set up a direct debit, the rebate will go straight into your account. Please note that this does not need to be paid back.
Contact your local council for more information and if you need help setting up a direct debit.
More information can be found on the Government’s website.
The Household Support Fund has recently doubled to £1 billion to help support pensioners and families with the rising cost of living.
This support is provided by your local Council who will ensure those vulnerable and most in need receive vital support to meet essential household costs.
You can find what help is available in your area by contacting your local Council.
If you’re looking to install energy saving materials such as insulation or solar panels, then you won’t have to pay any VAT for the next five years. This will help households improve energy efficiency while keeping heating bills down.
Find out more about Government energy support
With energy prices soaring, Martin Lewis recently investigated the cheapest ways to keep yourself warm. You can now check how much it will cost you to keep warm, from hot water bottles to electric blankets.
Find out more on Heat the human.
If you use an oxygen concentrator at home, you can get money back for the electricity it uses. The company that supplies your concentrator can make payments to your bank account. Contact them to find out how to claim.
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Read all of our energy efficiency guides
