Consumer champion Martin Lewis took to ITV's This Morning programme on Wednesday (July 13) to share a stark message about fuel prices and companies. Issuing his statement, the Money Saving Expert said anybody who has an energy bill direct debit should be aware of what is to come and the check their bills.
Presenters Alison Hammond and Dermot O'Leary looked visibly shocked as Martin issued the warning during a segment in the show with Dermot dropping his head on hearing the shocking account. Birmingham Live picked up on the money expert's warning over energy companies.
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Ofgem has found four of them to have "serious weaknesses". Mr Lewis said "they have weaknesses in their processes", adding: "We would expect direct debits to go up - we saw the price cap go up 54% in April... If it has gone up by more than 100 percent, they are being asked to review it. So if it is you, and yours has gone up by more than 100 per cent, the company should be reviewing it."
The financial expert also shared how an energy rebate is coming. The help comes just after he warned of a "catastrophic" future that will "cost lives". Mr Lewis says that the latest prediction for October is "up 65% on where we are now, taking a typical bill to £3,240" a year. Martin added: "It will then rise again by 4% in January to over £3,300 and probably start to drop but only by 5% next April."
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