The cost of living crisis is continuing to spiral, with the new Energy Price Guarantee coming into effect from this month.
The new Government initiative will "freeze" bills at £2,500 for the average household for two years - but this isn't a total cap on your bills.
Instead, the Energy Price Guarantee sets a limit for the units of gas and electricity that you use, along with the standing charge.
This means if you use more energy, you could end up paying more than £2,500 - this figure is just used to illustrate a typical household.
Meanwhile, inflation is now at a 40-year high of 9.9% - prompting the Bank of England to raise interest rates to 2.25% to try and get a hold of rising costs.
Are you worried about rising energy bills? Let us know: mirror.money.saving@mirror.co.uk
To help families, the Government has announced several cost of living payments - with most of the help targeted toward the most vulnerable.
Here, we explain all the payments still to come...
£650 cost of living payment - low income benefits and Tax Credits
The £650 cost of living payment is being awarded to households who claim means-tested benefits. These are payments where your income and savings are taken into account.
The money is being split into two parts, with the first half - worth £326 - having already been sent to eligible households.
The £326 started to reach families claiming Universal Credit, income-related Employment Support Allowance, income-based Jobseeker’s Allowance, Income Support and Pension Credit from July 14.
The date for when these households receive the second half of the £650 payment - worth £324 - has now been confirmed.
This will start to hit bank accounts from November 8 and is expected to arrive for most people by November 23.
Those who claim Tax Credits (Working Tax Credit and Child Tax Credit) received the first half of the £650 payment - the £326 one-off sum - from September 24.
The date for when Tax Credits will get the second half of the £650 payment - worth £324 - hasn't been confirmed yet but is expected to be sent shortly after November 23.
For the £326 payment, the criteria was that you must have received a benefit payment - or later found to have been eligible - between April 26, 2022 and May 25, 2022.
To get the second half of the £650, you need to have been paid - or been eligible for - one of the benefits listed above for any day between August 26, 2022 and September 25, 2022.
£300 cost of living payment - pensioners
Pensioners who are in receipt of Winter Fuel Payments will get an extra £300 as part of the cost of living package.
This money is expected to be handed out in November and December.
Winter Fuel Payments are worth between £100 and £300 normally - but it does depend on your circumstances.
How much you get also depends on your age, who you live with and the benefits you get.
The £300 cost of living cash is on top of your Winter Fuel Payment.
Age UK says those who were born on or before September 25, 1956, should qualify for a Winter Fuel Payment this year.
As well being the right age, you need to have been living in the UK for at least one day in the qualifying week.
The qualifying week is September 19 to 25, 2022.
£150 cost of living payment - disability benefits
Those who claim certain disability benefits received an extra £150 one-off payment. This money started to be sent out from September 20.
The benefits that qualified you for this payment are:
- Attendance Allowance
- Constant Attendance Allowance
- Disability Living Allowance for adults
- Disability Living Allowance for children
- Personal Independence Payment
- Adult Disability Payment (in Scotland)
- Child Disability Payment (in Scotland)
- Armed Forces Independence Payment
- War Pension Mobility Supplement
To get this payment, you must have been eligible for a benefit payment - or later found to be eligible - between April 26, 2022 and May 25, 2022.
£400 energy bill discount
An energy discount worth £400 is being sent out from this month, spread out over six months.
You should get a discount worth £66 in October and November, rising to £67 each month from December through to March 2023.
This will be applied automatically to your electricity account and doesn't need to be paid back.
The discount will be applied monthly regardless of whether you pay monthly, quarterly or through manual payments.
Direct debit customers will receive the energy bill discount automatically, with the cash being applied to your bill.
If you don't pay by direct debit, the discount will be applied as a credit to your energy account each month.
The credit should appear as if you'd made a payment to your energy bill.
Smart prepayment meter customers will also receive the discount automatically each month.
But if you’re a prepayment customer, then you’ll need to manually apply the discount to get the money off.
Prepayment customers will be given vouchers or Special Action Messages (SAMs) in the first week of each month, issued via text, email or post.
Customers will then need to redeem these at their usual top-up point.
