A depressing stat for you:
From 1 April, a typical household will be paying more than £500 a year more for their energy than they did pre-COVID.
At the same time, competition in the energy market is all but dead. Before the energy crisis, fixed energy deals were the best way to pay the lowest price possible as suppliers jostled to win customers.
Now, only paltry savings can be made by switching, meaning most of us don’t bother. (Though @get_nous can help - usually quite a lot!). It’s time for the Government to compel the regulator to do its job and deliver fair prices and good service.
Wow. That is one misleading chart. I got an email earlier from Confused.com about their latest energy deal. Right there at the top was this flashy, graph.
There’s so much wrong here.
• Why does the £100 saving flash up multiple times when you only get it once?
• How much am I paying each month on each of these deals?
• Where does the Y axis even start?
Ouch - it's already looking like 2025 will be another tricky year for household finances. Energy bills rose on 1 Jan, and @SkyNews analysis suggests a typical household could see their major bills rise by almost £270 by April.
Great to be powering the @MailOnline ’s coverage of the @Ofgem price cap announcement with our latest calculator! Bills are rising on 1 January - give it a try to see how you'll be impacted.
dailymail.co.uk/news/article…
Today's inflation rise has dashed hopes of a Christmas interest rate cut. Bad news for the 90k households due to refinance their mortgages in December.
We'll find out on Friday exactly how much we'll be paying for energy in the coldest months of the year. Unfortunately bills are likely to go up a bit - bad news when energy debt is already at record levels.
Greg Marsh retweeted
Inflation rate remains above target at 2.2%.
So why is it bad news?
Here's @gregmarsh.
#KayBurley OM
🚨NEW: @ofgem has revealed a plan to try and get energy companies to improve their dismal customer service. The vision is to 'deliver five-star customer service fit for an increasingly complex market'. So... just how bad are things right now? (1/6)
This suits the energy giants very nicely. After all, why would they want a return to price competition when right now they have guaranteed, baked-in profits, and a customer base that has no reason to switch to a competitor? (5/6)