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Liverpool Echo
Liverpool Echo
World
Lottie Gibbons

Martin Lewis' warning if you pay your energy bills by direct debit

Martin Lewis has issued a warning to anyone who pays their energy bill by direct debit.

The MoneySavingExpert was on This Morning sharing his financial advice as the cost of living crisis cripples Brits across the country. During his segment with Alison Hammond and Dermot O'Leary, Martin shared a warning about energy companies.

As reported by Birmingham Live, Ofgem has found four of them to have "serious weaknesses."

READ MORE: DWP's warning to people expecting £326 cost of living payment

Martin said: "They have weaknesses in their processes, so there is action happening on direct debits.

"We would expect direct debits to go up - if it has gone up by more than 100%, they are being asked to review it. So if it is you, and yours has gone up by more than 100%, 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".

Martin said the energy cap is predicted to rise 65% in October, taking typical bills to £3,240 a year. He added: "The latest prediction for October is up 65% from where we are now, taking a typical bill to £3244.

"It will then rise again by 4% in January to £3,300 and probably start to drop but only by 5% next April."

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