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Martin Lewis apologizes after branding Ofgem a ‘f*****g disgrace’ over energy changes

MoneySavingExpert founder Martin Lewis flared up at Ofgem’s energy regulator about their latest plans, saying their planned billing changes would “sell consumers down the drain”.

martin lewis
The MoneySavingExpert founder was annoyed with how bills are changing

martin lewis has apologized for “losing his rag” during a phone call with energy regulator officials about upcoming budget bill changes.

Regulator Ofgem said today it wants to change that how often energy bills go up or down in price .

The proposals would see energy bill limits instead of just four times a year as before.

That means your price would fluctuate more frequently.

The MoneySavingExpert founder had a phone call with Ofgem staff this morning but said he was overheated at the thought of consumers losing out as a result.

Speaking on Twitter, Lewis said: “I would like to formally apologize to Ofgem staff for having just lost my rag in a background briefing and saying his changes are a ‘fucking disgrace selling consumers down the river’. I should have behaved better.

“My anger is institutional, not individual, it was inappropriate…

“I lost it when I received a briefing on today’s proposals where it feels like it has ignored every consumer request at every turn in these desperate times when lives are at risk and instead put itself ahead of the industry bent (I hope history proves me wrong )…

“I ended the conversation by asking that they at least consider lowering the standard charges, as these huge charges are preventing people from making real savings by reducing energy consumption. I’ve had good meetings with Ofgem for years so I’m sorry this blew up (they were quiet I wasn’t)…

“I pray I have to apologize again for further analysis as I was very wrong (if not then I worry about the bad consequences for consumers – we need to do more to make things better for them).”

Ofgem wants to change how often it checks the price cap it monitors.

energy bills in this case rise and fall much faster.

The price cap works by capping how much the average household pays for electricity each year when paying by direct debit on a variable-rate tariff. The cap was introduced to help the most vulnerable households, who are statistically most at risk of using these tariffs.

The price cap is currently reviewed every six months.

Ofgem now advises on this every three months.

What is Ofgem’s energy price cap?

Despite what the name might suggest, the price cap isn’t technically a limit to how much you pay for energy.

Instead, it sets a limit on the unit price a supplier can charge for each unit of gas and electricity you use, and is reviewed twice a year.

The price cap changes every six months in April and October.

Launched in 2019, it is based on a number of factors including wholesale electricity costs over the past six months.

Get help with your energy bill

British Gas has an Energy Trust fund which is accessible to everyone, not just British Gas customers, provided they meet the eligibility criteria.

You can also get help from the following energy suppliers if you are already a customer:

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https://www.mirror.co.uk/money/martin-lewis-loses-rag-brands-26974375 Martin Lewis apologizes after branding Ofgem a 'f*****g disgrace' over energy changes

Fry Electronics Team

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