The Martin Lewis Podcast Energy Price Cap Rise: what to do… and why we pay more than the rest of Europe
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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!
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PayByApp Warning
- PayByApp is convenient but offers no consumer protections like chargebacks or Section 75.
- Use cards for large purchases to retain these protections.
Price Cap Rise and Fixes
- The energy price cap rises by 6.4% in April, but it's a poor deal.
- Switch to a fixed tariff if possible, as cheaper options are available.
Price Cap Purpose
- The energy price cap exists as a backstop, primarily for those who don't switch.
- Not everyone switches, despite efforts to promote competition, due to complexity or inertia.