Martin Lewis Gives His Advice On The 5% Increase To The Energy Price Cap | Good Morning Britain

Martin Lewis is back today to explain what the Autumn Statement will mean for household bills this winter. While taxes appear to be going down energy remains a huge concern, and with the 5% increase on the price cap, it looks like another expensive winter lies ahead.
Martin gives his advice on switching providers, deal hunting and more!
Broadcast on 23/11/23
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#GMB #martinlewis #energybills #costoflivingcrisis #pricecap #autumnstatement

[@stephenjohnson9560]

Its about time energy was Nationlised again. Privatisation has never worked.

[@meltedsnowman9637]

Unless you avoid all of history where central planning such as in places like China led to the largest famine in all of history with tens of millions dead when their economy was fully nationalised.

[@bereal6590]

It's out of control and unaffordable. Unfair and all the big oil and gas companies making record profits

[@urbanfox53]

Yes and I dare say many MP's have got shares in energy companies while eldely people die of hypothermia this winter!.

[@thefastandthedead1769]

From Scotland's oil!

[@Rbourk252]

I’m considering disconnecting it all. It is unacceptable for any company to decide to empty public bank balances purely for their own gain. Money down the drain to fund someone else’s family. I can’t keep them alive any more.

[@johntthomson7538]

Sack this regulator.

[@Ayeright.]

How can Sunak afford to heat his private swimming pool?

[@willbodek702]

Cos he's a Billionaire..😊

[@Gius3pp3K]

Tax payers money pays for that 😂

[@Max-uv8le]

Everyone in England should cancel their direct debits and refuse to pay

[@urbanfox53]

How many MP's have got their sticky little fingers into energy company shares?.

[@yofinance1777]

Hopefully 100%, wouldn’t you? Sheeples continue to pay

[@urbanfox53]

@@yofinance1777 No not if it meant I was complicit in the deaths of elderly folk who could not pay their exorbitant heating bills!, some of us have a conscience.

[@bowjana8128]

Feel sorry for kids bow absolutely nothing for them

[@GavstarLeo]

The UK has become so soft. No backbones, no fight NOTHING. Getting shafted because YOU allowed it.

[@neilchapman9266]

I topped up my meter at the start of October, like you advised. At that time I was using as approx £2.70 a day. After top up I am now paying £4.80 a day. Energy is getting to be a real rip off and I am looking to go over to a wind turbine to run my small appliances....£4.80 to run a small fridge/freezer a TV and my fish tank in a one person household.A JOKE

[@leetonge5171]

I got charged £322 fo 1 month for a single guy in a 1 bed flat so i feel your pain. at work 5 days a wekk and to scared to use anything as i get high bills every month

[@Jamesyahyah]

My standing charge will rise by £80 a year for electric a 60% inrease how they justify such a rise

[@yofinance1777]

Because you’ve moaned on KZbin, will comply and pay. They know this hence the increase

[@fintamaria2429]

It is not about anything at all. Only the interest of the billions and billions of profits of these corporations!!!!

[@English_Rose4]

Why do they always go up in the winter!? What's all the racket 😡

[@yofinance1777]

Read what you’ve just written. When is gas more in demand? In the summer. 😂

[@English_Rose4]

@@yofinance1777 who'd you think your talking to!!!? Mind your attitude 🤨

[@adrianaspalinky1986]

General Election Please

[@lee6023]

😂😂😂

[@yofinance1777]

Noooooo. Why ? So you Sheeple can vote in a different group of puppets to “govern” you. 😂 Tool

[@adastra7553]

I don't get it, energy companies are showing record profits, yet bills are going up again?????

[@esecallum]

scam

[@adastra7553]

we can use "scam" for the government, banks, big business too! @@esecallum

[@RCKickschannel]

Why as energy wholesale prices have fallen off a cliff?? Money grabbing

[@garethjones2125]

Of course they will come down in summer and then back up again next winter. We a being taken for a ride.

[@smellslikethinice1107]

The UK had what it had, because people were willing to fight for it. Sadly that's the past of " collective bargaining"...now the UK is passive and obedient.

[@robhingston]

But how can you control standing charge?

[@user-ym5ml3he1b]

Wage rise will make little difference 11..44

[@volvo906]

Energy prices will never come down to anywhere near what they were. People are making far too much money out of it so why would they want to……we are stuffed!

[@yofinance1777]

Yep. Sheeple continue to pay and be distracted. Shameful

[@jhamPlays]

It's the only goal of a capitalist company. Increase profits, then increase them again. As we know from physics you can't create something from nothing, so they will always turn on the customer to fill that gap that the shareholders demand be filled every year.

[@daveaglasgow]

Oil prices dropped to lower than before the pandemic last year, but they made excuses and kept the energy prices high. The whole reason why energy prices went up was because the price of oil went up.

[@gauravmahajan1371]

total mess!!!!!

[@shaniholland6918]

I have pay as u go and entitled to 150 rebate and they insisted I take 5 payments to get it. When I argued this I got a code and got it immediately. The govt have given them the money, how many millions have they made in interest making ppl run around to get rebate???!

[@user-rq9bc6qt3r]

Scrap the standing charges

[@MendeleevLabshorts]

Good Man

[@juliascorey999]

Time to get rid of tge meters and get a generator

[@anthonyrigley4402]

They dropped the price in summer and put them up in winter when you need heat

[@sisulart]

High energy prices are here to stay by the looks of it. I can’t see it ever getting down to pre 2022 levels again.

[@robhingston]

Skulduggery, goes on between the government and Energy companies

[@ynwa3476]

Abolish standing charges !

[@bowjana8128]

I feel sorry for kids now imagine this country in another 10 years

[@ynwa3476]

@@bowjana8128 Working class kids in this country will be priced out of everything. It's disgusting.

[@thahleel]

The vast majority of my energy bills are standing charges. As I understand it, these charges are to cover the cost of supply of energy but I don’t understand why that cost represents something like 70% of my energy bill on an average month. I would happily switch to a tariff with no standing charge and slightly higher prices but there doesn’t seem to be any such tariff available

[@goinblinddoggone]

There was until the big 6 companies bought them all out in the last few years. Our govt is allowing this to happen and the public are not making enough fuss about it.

[@cliveclerkenville2637]

This whole energy thing is an utter con.

[@user-hv7kt9zc3m]

I can't put any more on so I'll just have to go with out electric for the last week of each month

[@guss2099]

I want to know the names of every single politician that has dealings with the energy companies and want to see their allowances cut so they have to pay like everybody else! This is getting! People will die from not having the heating on for fear of not being able to pay their bills! Seriously! This supposed to be a 1st World Country, not a Banana Republic!🤦🏻‍♂️

[@urbanfox53]

They all have shares in energy companies profits while the elderly die of hypothermia!.

[@yofinance1777]

😂😂 Did you just write that on KZbin or did you actually demand it from your local MP / Council? Sheeple puppet

[@bowjana8128]

Third world country now

[@DevilbyMoonlight]

can you imagine if we started protesting on the streets over this like a certain segment of society?

[@BlondieBrunette14]

we need to, people are too compliant

[@pauldean8638]

A man you can trust 👏 can’t we have him run the economy

[@lporquai9048]

The government wouldn't let him , because he's for the people 🙄

[@gameova5962]

I work full time, my salary goes on living expenses.. im left with a tiny amount. When my mortgage rate renews from 2.3 to 6 am done. Its either homeless or death for me, i dont care anymore.

[@seeseeteevee]

The price today of wholesale gas on the market is US$ 2.776 per Million BTUs (less than US$0.01 / kWh) , that is LOWER than the prices since 2000 apart from a few brief dips in 2001/02, 2012, 2015/16 and 2019/20 (Covid), so why is the retail UK gas price the highest at £0.07 / kWh? British consumers are being ripped off!!!

[@hayedehtavakoli6847]

Yes Why?

[@dannyrichardson2838]

My house stays warm regardless to the price

[@bigpants6121]

how nice and how smug.

[@yofinance1777]

@@bigpants6121Because he wants to stay warm and healthy? Not even one is Sheeple. Some of us have worked hard, saved, invested and are doing ok.

[@bigpants6121]

As you are doing so nicely why waste your precious time listening to Martin Lewis who wants to help people who are struggling.@@yofinance1777

[@ENTERJAYKASHI]

Wholesale price goes down but we pay more, its an engery crisis yet companies are making record profit.. its disgraceful!

[@paulbryant4518]

Unfortunately switching to the eon deal states you must have a smart meter installed, meaning they can force you onto pay as you go if you fall behind.

[@ZenosOsgorma]

and there goes the apirl wage increase..sunaks great idea to allow more drilling only to sell it off , for us to buy it back .

[@djsiuk]

It’s criminal that past politicians haven’t made the UK 100% energy secure. It’s disgusting that the energy sector isn’t properly regulated. We have foreign companies owning critical infrastructure that can’t happen if you want security. We must bring all energy supplies in house and invest internally on energy infrastructure. Let’s do what F1 does, let’s poach all the best engineers from EDF for example.

[@BLUESKY-zt1nv]

British Gas are not making enough profit .

[@kevinwoolass5946]

This goverment are not protecting the genaral public, people need to vote. If you do not vote, then just keep paying.

[@coopz1969]

So for months theyve said energy is going down but nope its going up but how we going to pay it because im still paying the last increase off

[@thefastandthedead1769]

Scotland's oil and wind energy!

[@user-wl4cl1ph3b]

Every householder in Britain must pay more Taxes to cover the cost of mass illegal immigration by the CONservative junta

[@johnsandland2900]

scrap the standing charge

[@hurleyflyer263]

Stop paying massive millions on 4star hotel bills, or sending money to fund wars in countries, thousands of miles away, that has nothing to do with us. Just a thought.

[@bowjana8128]

Agree

[@esecallum]

18 billion to ukraine dictator

[@bowjana8128]

@@esecallum 2 billion to India aswell

[@esecallum]

@@bowjana8128 no. it was stooped in 2015 and was mostly related to trade. we give you this so you can buy our goods and services and create jobs on both sides.

[@BlondieBrunette14]

yup

[@septicoo]

they increase because they can and because nobody will say anything while in other European countries is getting cheaper

[@cliveclerkenville2637]

Hence the expensive mess.

[@Retrofordguy]

As an eon next customer asking for the better deal they are trying to for a smart meter which we dont want what do i do

[@andrewsmith1452]

Wasn't it obvious this was going to happen, he just gave you 2% off national insurance they have to get it back from somewhere

[@alanc457]

At least you’ll have a choice about the 2%

[@sadi4098]

Which eon next deal does he mean

[@seanyboyyy18]

Why does no one ask the question. If profits are rising and at record breaking levels. What is the justification for price hikes. Isn’t there a regulatory body that can intervene to protect consumers and the economy? Instead our government and regulatory bodies seem to be created to justify to obscene price increases from private corporations who’s sole aim is to increase profits at any cost

[@esecallum]

ofgem is corrupt. they go to 'work' for the energy companies after raising prices. they need to be jail

[@peterthefoxx]

The price cap is excellent for energy companies, everyone will follow martins advice to happily accept the price cap as the ‘current price’ and rejoice at 2% discounts, while the actual wholesale cost of energy is currently (and has been for most of the year) far below the cap prices.

[@nathanthomas2343]

I goto get outa this country country is run so bad working class treated like slaves to the system

[@macca2760]

Rather pay 10% more than join eon ! Worse provider ever

[@joeboyce8917]

Scrap the standing charge

[@TheFartbreakKid]

Looking like im putting another jumper on at bed time.

[@jaycc2704]

Just scrap the standing charge food still rising hasn't come down same with energy.

[@JohnnyMotel99]

I just don't get it, looking at Nat Gas futures, the price is going down!

[@bigpants6121]

Hunt has his finger on the pulse again!

[@jackwaycombe]

The pulse is the last thing Hunt's sticky fingers are interested in...

[@alangordon3283]

Nothing to do with Hunt.

[@bigpants6121]

what isn't?@@alangordon3283

[@petergore1972]

Peter Gore Seer, The Rich Like Lewis Will Never Worry About The Price Of Leci Full Stop.

[@esecallum]

NO competition at all. the ENERGY CARTEL. fueling inflation

[@karenjones4306]

There's a shock......NOT

[@adrianrouse5148]

And they will continue to rise. Westminster has had the chance to improve our situation but has chosen not to make the UK independent.

[@beverleyprice7468]

Why?

[@jpblack2148]

It. Is. WINTER. WE. NEED. ENERGY. NOT. TO. FREEZE. TO. DEATH. Can oil and gas wholesalers understand this simple sentence????

[@dean8282]

Image if we once owned our own energy companies and the profit went back into the infrastructure and not off shore tax havens

[@stephendixon8575]

“Who’s the winners and losers?” - Don’t need an expert like Martin Lewis to tell you that (even though he didn’t say) as it’s crystal clear - The Winners are the obscenely greedy Energy companies, who’s wholesale prices have plummeted, and they all steadfastly refuse to pass on those savings in search of ever greater profits! The Losers? Well as usual that would be the people who pay the Energy Companies. So much for ‘free market’ economics that ‘drives competition’! Last year, they subsidised them (with Tax Payer’s Money!) instead of curbing the obscene profits they’re making - This year, they’re doing neither and just letting them run riot. It’s disgusting and we should re-nationalise the lot of them, but in a modern way making them Not For Profit organisations with high levels of public engagement and accountability

[@goinblinddoggone]

Spot on friend ✊

[@leedstown]

That jet is black hair😂

[@rossspenser8314]

Takes then gives .What a con

[@RobertBrown-fh6to]

I'm on eon next would recommend l different per code metre top up 30 electric and gas 20 but on put extra 10

[@G-Man..277]

So much for cheap wind farm power

[@dinkydaz6711]

it’s only 5% on the added to the manufactured 100% price hike

[@davidwilliams5300]

The energy bill seems to go up month on month. In a small 1 bed flat, 3 economy 7 radiators. really careful with appliances and £160 per month. I can't seem to get a handle on the heating it is off for about 4 months does this seem about right

[@hamiltonharman9962]

Our Heating off for 6 months and set to turn on in hour blocks in the morning/evening only add an extra hour once it changes from autumn to winter £60pm for 6 months £100-£160 for the other 6 months

[@Dangerous_Brian]

Greedy company: We need more money, let's put prices up during the Winter and drop it in the Summer?

[@leetonge5171]

My company has been ripping me off since Feb and the Ombudsman has no teeth even after they ruled in my favour i am still fighting to get money back. So this just means i will be screwd over more by them. And until its solved i cant move

[@Woofersgalore]

Jeremy Hunt really is that radio 4 slip up!

[@evgeniynagornyak1150]

On that case, we shouldn't pay 5% vat

[@Jimyjones333]

I’m using bare minimum electric and gas and it’s over 200 a month

[@darrensutton5940]

This man speaks more sense and truth than any politician of any party.

[@peterthefoxx]

A lot of people follow his advice, the “don’t bother switching provider” and his support for the price cap in the first place is harmful however and only benefits energy companies. anti competition = high prices. The wholesale cost of energy has been far below the price cap for most of the year - energy companies profit massively from the price cap since it means they can inflate their price - if it goes beyond the cap then the taxpayer pays for it. A practical example of this is the octopus tracker tariff which follows the actual wholesale cost with a fixed markup - right now it’s 21p for electric and 5.7p for gas and has been very steady at this price for most of the year while most of tariffs Martin suggest you go on a tariff at or close to the cap. Tracker is not fixed but you can freely switch to fixed at any time should the cost go up. I just don’t get why Martin never addresses this while otherwise making good points.

[@mokhan8146]

Politicians aren't there to speak the truth

[@dean8282]

Not sold his soul to corp

[@dinkydaz6711]

He’s the face to deliver the bad news but everyone seems to big him up Nothing against him but he doesn’t exactly save you much at this present climate

[@Andy1119]

there's 0 reason to put up the energy prices.... regulator getting backhanders to put the price cap up

[@myjulie60]

Rip off 🤬

[@gigapig23]

Conveniently it goes up when you need it and down when you don't. Best advice, don't use it.

[@BrianArnold-fh6ks]

This is absurd. Electricity should only cost a maximum of £0.06 / kwh. Get solar panels, I sell at £0.22 per watt in 1 x 2m panels.

[@robertward6813]

Here we go again 🙄

[@malcolmspeakman9699]

Has anyone audited how many MPs have shares in energy companies? and can you tell me why energy prices ALWAYS go up in the winter months never in the summer months? wake up folks.

[@KM2399]

Shares is the only thing they don't have to declare....

[@mespud6753]

Prices go up and down due to supply and demand. If there isn’t enough prices go up, when there is too much prices drop.

[@lporquai9048]

Ben and susanah it won't affect you so stop with the insincerity

[@core-element]

Love Martin, but I don't call it all crystal ball gazing, it always goes up over coldest months when we use more, energy companies making record profits, summat wrong.

[@beadlesastout]

Energy companies are having to invest in renewables and they simply dont want to pay for it themselves. They want the public to foot the bill. Green energy is vastly more costly and will be for years. We are forced to pay this bill rather than them investing their own cash.

[@openbabel]

Martin Lewis is reminded that some the UK blind and severely disabled have not received any of their legally entitled incomes and support payments since the 2nd June 2022. This was the result of the collapse of the DWP payments systems at the post office for the most vulnerable in our society. This was inspite of warnings from parliament in January 2022THis is the biggest disaster for this government which has excluded his legal right to stand for reeliction in may. The charities have called for sunaks imprisonment and resignation which the law provides for. Martin be actuate. this group of people have not received any cost of living payments since 2022 confirmed by the DWP. The will not receive any cost of living payments in 2023-24 confirmed by the DWP, Michael Gove wants a parliamentary enquiry and group compensation scheme for those effected similar to the post office counters disaster. Kier starma wants a judicial enquiry. Jeremy Hunt MP is clearly misleading parliament and has to resign this week as he has breached the ministerial code. Alleged genocide of the uk blind disabled children and adults Must lead to the arrest of hunt and sunak this dying government.

[@fubar.1]

We need a new party in politics, one that is transparent, truthful and non self serving, nothing like the corrupt two parties we have

[@bigpants6121]

The one in power is a greater risk.

[@TheFartbreakKid]

Dream on

[@danielcollinson4456]

How is this Labour's fault. They stated they would put a windfall tax on energy companies, and this would mean bills would be way lower. Which is what has happened in almost every country on earth, but not the UK.

[@bigpants6121]

probably donor friends in the energy companies.@@danielcollinson4456

[@Euphoftoday]

Political parties are all the same basically because the central banks control what they say and do.

[@Trd809]

Fiscal drag is the LARGEST burden on all people in the UK on PAYE.

[@oneleggedwonder1]

I locked in with my energy supplier never set up the direct debit as it was £240 and I'm only using on average £181 so by not setting up the direct debit I saveing around £54 by doing this I'm able to pay my water bill with the money I save they might not like what I've done but they always get what they need and no more

[@ZenosOsgorma]

I just ignore the energy company advise they make assumptions and suggest x amount on direct debit . found out I'm only using £97 pm both gas and electricity but they are advising me to pay near double that ..my bet is energy companies arevpushing up their prices to Rob peoples account credit. (a lot of people save credit for winter)

[@rossspenser8314]

Martin for PM

[@royeasto885]

Insulate,, insulate, insulate and improve efficiency. This is always more important.

[@georgesaunders4141]

2% tax cut is too pay for the high energy increase

[@cliveclerkenville2637]

Anyone vote for this ?

[@WhichDoctor1]

i wish people would stop calling it fiscal drag and call it what it is, an income tax hike. they are just choosing to tax peoples incomes more. its that simple.