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Daily Mirror
Daily Mirror
Business
Sam Barker

Join us LIVE as our experts explain all the cost of living payments still to come

Millions of households have already had cost of living payments from the Government - and there is still more to come.

People on means-tested benefits will be given a £324 cost of living payment from November 8, the Government confirmed last week.

There is extra help coming for the elderly as well, so it is important to keep track of which payments you're eligible for.

Meanwhile, £400 in energy bill help started to be paid out from this week, and an extra £421million has also been put into the Household Support Fund.

Mirror experts will be hosting a Facebook Live at 1pm tomorrow to explain everything you need to know about all the financial help coming down the tracks for the rest of this year.

Join us today (October 6) at 1pm live on the Daily Mirror Facebook page

They will explain who is getting the help, how much - and when.

You can ask us a question during the live broadcast, or drop us a line now at: mirror.money.saving@mirror.co.uk.

What is the Household Support Fund?

The money is handed out by local councils , and is normally handed out as cash or vouchers.

Now, the DWP will put another £421million into the fund from tomorrow, October 1.

The new pot of cash will be distributed until March 31, 2023.

To obtain grants from the Household Support Fund, applicants must contact their local authority.

If you’re not sure of your local council, you can find out by entering your postcode into the Government’s online tool.

Household Support Fund grants are intended to help people on low incomes pay for everyday essentials. The exact eligibility criteria, and the amount of money on offer, will vary between different local authorities.

What about energy bill help?

Energy bills have risen for millions of households from tomorrow as the £2,500 Energy Price Guarantee came into effect from October 1.

The new Government initiative replaces the Ofgem price cap - which would’ve seen bills rise to £3,549 for someone with typical use - and will be in place for two years.

It means households won’t face the hideous rises that were expected to come next year - with analysts previously predicting that gas and electricity bills will hit £6,000 in 2023.

But the £2,500 figure that kicked in from October 1 is still higher than the old price cap, which was £1,971 a year.

Much like the old Ofgem price cap, what the Energy Price Guarantee does is cap the unit rates you’re charged for gas and electricity, plus the standing charges.

This means if you use more energy, you could end up paying more than £2,500. Similarly, use less energy and your bill should be less.

The £400 energy discount is still happening and is on top of the £2,500 figure - so this takes the average bill for someone with typical use to £2,100 a year.

You should start to get the rebate from October, spread out over six months - you'll get £66 off your bill in October and November, then £67 from December 2022 to March 2023.

There are no plans currently to extend this.

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