Get all the latest news and headlines from Edinburgh, Fife and the Lothians sent straight to your inbox twice a day by signing up to our free newsletter.įrom breaking news to the latest on the coronavirus crisis in Scotland, we'll have you covered. "The cap is actually on the standing charges and the unit rates for gas and electricity, and this means if you use more energy, you'll pay more. He shared a link to a page on the MoneySavingExpert website, which states: "The energy price cap is misnamed – there's no cap on how much you pay. It's only for direct debit for now, as we're still awaiting prepay prices." "It varies by region and usage hence the calc. How much will you pay under the new Eng, Scot, Wales energy price guarantee from 1 October? Taking to Twitter, Lewis said: "New Calculator (pls share). READ MORE - Woman queues to see Queen's coffin in Edinburgh 'seven times' in a row
With many people unsure of exactly how much their energy bills are set to rise by, financial expert Martin Lewis has unveiled an online calculator to help households determine the approximate value of their new bills. While the UK Government has announced that it will replace the price cap with an Energy Price Guarantee that will ensure typical UK households pay no more than £2,500, bills will still increase substantially on October 1.
#MARTIN LEWIS MONEY CALCULATOR UPDATE#
Martin Lewis has shared a new a new update regarding the energy price cap rise in October.
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