
Martin Lewis: the ‘Money Saving Expert’ has advice that could save you hundreds of pounds if your energy supplier is overcharging you.
It seems some energy firms are playing fast and loose with customers on direct debit, with price hikes of up to 250 per cent.
So take a hard look at what your energy firm is charging you.
It seems some of them are trying to boost their own bank balances in advance of another expected price hike in October – in effect, relieving their own cash flow problems by inflicting them on you.
But it could lead to a fine of up to one-tenth of a company’s turnover if it is caught.
‘Money Saving Expert’ Martin Lewis has given advice on this, warning that there are some circumstances in which higher bill increases may be allowed.
But if you are in credit and “on the price cap”, and seeing a bill increase of more than 54 per cent, then you should call up the companies – politely – and dispute the new bill by asking them to justify the hike.
This would not be a “negotiation” as there is a legal requirement for your direct debit to be fair.
If the firm refuses to reduce the bill, then you should announce that you will take the matter to the Ombudsman. This will cost the energy company money.
Source: Martin Lewis’ urgent advice to anyone who uses direct debit to pay for their energy bills
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