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The Martin Lewis Podcast

Energy Price Cap Rise: what to do… and why we pay more than the rest of Europe

Feb 27, 2025
Get ready to navigate the rising energy price cap, increasing by 6.4%. Find out why UK prices are soaring compared to Europe, with expert insights on the energy market. Learn how to cut costs on train travel and tackle childcare expenses. Discover the risks of 'pay by app' methods and hear shocking stories about unexpected bills. Plus, there's valuable advice on workplace pensions and managing council tax debt. Tune in for smart money-saving strategies!
01:11:54

Podcast summary created with Snipd AI

Quick takeaways

  • The UK energy price cap will rise by 6.4% in April, compelling consumers to actively seek better deals to save costs.
  • Payment methods like PayByApp offer convenience but lack essential consumer protections, urging caution when used for significant transactions.

Deep dives

Rising Energy Prices and the Price Cap

The energy price cap in the UK is set to rise by an average of 6.4% starting April 1, following two previous increases in January and October. This change means that typical users, who average £100 spent on energy, will experience a bill of approximately £106.40 for the upcoming three months. However, higher users will see their bills increase significantly more, with some facing hikes up to 9%. It's emphasized that the price cap serves as a backup for those who do not switch providers, and consumers are encouraged to explore better deals available in the market.

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