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A household in England, Wales and Scotland using a typical amount of gas and electricity will now pay 拢1,717 a year, a rise of 10% or 拢149.

Experts have encouraged people to submit a meter reading as the change comes in so they can avoid being charged on estimated usage at the higher rate.

It comes as winter approaches without extra cost-of-living payments for those on low incomes, and as winter fuel payments are withdrawn for about 10 million pensioners.

Speaking to 5 Live鈥檚 Naga Munchetty, Martin said: 鈥淣obody listening who is capable of switching and understanding should be on the price cap.鈥�

鈥淲hat we have now is a time-lagged price cap where the price cap is going up even though wholesale rates are actually coming down.

鈥淲hile the price cap is time-lagged, the switchable deals, the deals that you can move to, they are able to take advantage of the current short term lower wholesale rates so you have a much bigger differential right now between the price cap and what you can switch to than we鈥檝e seen since probably before the crisis.鈥�

This clip was originally from Naga Munchetty on 1st October 2024.

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