Martin Lewis On Ofgem Announcement to Reduce Energy Price Cap by 12.3%.

Martin Lewis will be sharing his top tip to beat the incoming energy price cap and save hundreds of pounds on gas and electric bills. The Money Saving Expert founder will explain how energy prices are predicted to drop by around 17 per cent this year.
Broadcast on 23/02/24
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[@terrythornton1549]

Reduce prices when demand drops then put them again before the winter cold. Not that big a help to people who are struggling.

[@smvsspould]

Standing charges are disgusting. Roll it into the unit cost.

[@jessede1970]

standing charge is too high!

[@andrewthomas2406]

Martin Lewis is the peoples champion.

[@chrysalis4126]

If they reduce the standing charge by 12.3% I'll celebrate. It makes up over 40% of my bill.

[@leonthompson3433]

Love Martin, though we are we paying an increasing standing charge when the energy costs are the lowest pre-Ukraine? Ofgem are corrupt, supporting Tory donors leading to massive profits to the energy companies. How else can you frame it?

[@aficio698]

DO SOMETHING ABOUT THE STANDING CHARGE!!

[@RobertBrown-de6cw]

I don’t remember giving ofgem consent to how I spend my money? What gives them the right to decide that I’ll pay towards another person’s energy bill because they can’t pay

[@user-ol6rd7pl5t]

It's not just energy prices that need to be capped, it's the profits of the energy suppliers that need it more.

[@tonyrobinson362]

British Gas just announced 945% profit! 945% profit!

[@billienomates1606]

Ofgem have given the go ahead to energy suppliers to add £28 fee to customers to cover the loss they have made from those that have not been able to pay their energy bills, you could not make this stuff up.

[@ForceSabersUK]

Really wow what a utter shock that they do this just around the time we start to use it less. I'd be even more shocked if it goes back up when it starts getting cold again

[@andyh3873]

I have my bills back to 2016, and worked out that my standing charge (just for electricity) has increased 200% since then!

[@DankerTVTimeCapsule]

told ya, that standing charge abolishment isn't going to happen anytime soon.

[@billienomates1606]

Daily charges go up again of April 2024 and a one off £28 fee to be paid by customers this year to energy suppliers!!!!!!!!!!!! Whilst whole sale gas prices tumble.

[@colinmcnally5931]

I changed to DD and it saved me precisely nothing!!

[@blue_jay31]

Is this right ,you have to pay more because some people haven’t paid there Bill ! So they are stealing your money? Please till ?

[@michaeljohnson1006]

We are still being ripped off! After April when its warming up. Is it going the way of petrol prices?

[@anthonywilson8998]

Who areOfgemsupposed tobe working for ? Who pays their wages? What exactly is their purpose. I am sure millions think they are there to ensure we pay exhorbitant sums billions overall too much, while 100 billion£ have been gained in excess profits, but where is the. tax n windfall .? I don’t believe we are getting much back. If we are where is it ????

[@davidwilliams2840]

Ofgem are operated by the government they are all in it together that's why the country is so corrupt

[@ianmorrison5474]

I think we will all still be paying a lot more compared to pre 2020.

[@englandcalling9721]

With electricity standing charges, in some regions, increasing by over 25%, for low users, the new price cap is little or no cheaper, than the current price cap. Certainly nowhere near the 12.3% quoted.

[@alanoliver535]

Gas and Electric should be the same price for everyone forget this compition thing .

[@alanconway94]

Yep. Everyone is saying it. If the standard charge isn't reduced, after being hiked to bail out the energy companies that failed; this means very little. And we learn, here, that it will be increasing. Great. FFS! Those who can are already using the bare minimum of energy.

[@jeffhgv]

They increase standing charge, this is disgraceful while they’re paying shareholders massive handouts.

[@arpadvarga3475]

Really makes me angry the standing charge is nearly a 1£ daily 🤬🤬🤬🤬 Like seriously??? How this is allowed? Apparently costumers paying more because that's how they sort people debt... How marvelous...I just stop paying then?

[@Markfarrar60]

Wouldnt call 12% slashing

[@kayoedowner6711]

How is it fair these hugely profitable companies make their failures to collect debt the problem of their paying customers? Their greed and inhumanity towards struggling customers is breathtaking.

[@vickyingramnymann8543]

So energy is now only 50% more than it was pre pandemic.🤮

[@richardbrown1189]

Given that the price of gas and electricity has more than doubled, not to mention the totally iniquitous rises in standing charges, I'd hardly call 12.3% a slash in prices as described in the headline for this video...

[@jonshadow4052]

Nearly a £1 aday standing charge 🤬🤬

[@evgeniynagornyak1150]

Im wondering, if i won't pay standard charges + 5% vat Will i win a court process?

[@georgethompson453]

We’re all going to pay nearly £3 a month extra to cover the shortfall from late or non payers! That’s why the standing charge is rising. Competition is still some way off!

[@DavidJohnson-dc8lu]

Now explain why energy companies are seeing 1000% profits!

[@akhusal]

They should remove the standing charge so the essential energy for living is affordable - this way there will be less arrears.

[@baltukur3368]

what about the vat standing charge and unit charge these Stealth charges privitization has failed there is no competition its time to nationlise the gas and electric companies under government control this is essential not a luxury

[@motorr7394]

why in April!? why not now

[@Mike_5]

The big part of this is that Smart Meters are not very clever at all

[@LB-my1ej]

No good reducing the unit price if they are increasing the daily service charge.

[@seeseeteevee]

The wholesale price of gas has been trading last few weeks at $1.557per million British thermal units (MMBtu) or 0.0005 pence per kWh, this is the lowest price over the last 20 years so why are consumers paying 7p/kWh retail to gas companies and also highest electricity prices?

[@dinkydaz6711]

The plebs are supposed to be grateful

[@paulwilson7234]

Fair play to you Martin.

[@akhusal]

Get rid of energy companies, they don't provide energy just billing. Billing can be automatic on a smart meter. These companies pay their bosses huge amounts but still go bust cost us billions on our bills. Standing charge must be removed and the initial essential energy to live on should be cheaper tariff.If its affordable there will be less arrears (which we (not the energy companies) have to pay for anyway). With no standing charge those who waste energy with swimming pools and jukuzi and uninsulated properties should pay more as they use more - the price per unit should increase the more you use.

[@AdmiringBabyPenguin-on6fd]

All that means is they swap the charge, if we just pay national grid it would cost so much less because there is no middle man

[@mattwu7884]

standing charge is a scam. Very disgusting and shouldn't be even allowed. It's really like day light robbery.

[@paulmitchell1580]

Some people are becoming seriously rich.

[@peeg09]

Why didn't Kate go with Ben to This Morning? They were looking for people with chemistry.

[@neilchapman9266]

This is just turning to legalised theft. I am paying a crazy amount at the moment and I am convinced my meter is knackered. I have an energy efficient TV, small efficient fridge/freezer and my fish tank. I am paying over £5 a day. One day £3.20, next day £5.20. All for the same usage. I am setting up solar

[@natsdaley9615]

Slashed electricity but increased council tax -

[@juliaw7533]

DO NOT TRUST anyone that promotes Smart Meters and Prepayment Meters. Whatever the sweetener is, it's guaranteed that you will ALWAYS lose more than you may 'appear' to gain.

[@PAUL-wv6vu]

Still 50% up from two years ago

[@paulharris1502]

Wind and solar are very expensive.

[@penman1289]

Meter charges should be scrapped it falls on the most vulnerable in society. Where is martin Lewis on this.

[@colinmcnally5931]

We have an election coming up soon!! Any connection anyone??

[@neilchapman9266]

Does a smart meter replace your current pre pay meter. Or does it run alongside each other. How do these companies get away with it. They say it is because they have to pay high prices but they are more than doubling their profits since this all began.

[@tyjakkty8668]

oh Ofgem have finally woken up,good to see they doing something for there money

[@keithwinters3031]

It's all a con. Down this...up this.