Martin Lewis breaks down the average debit rates for energy bills in October

martin lewis has broken down average household direct debit rates to standard rates from early October.

That energy price cap is set to rise to £2,500 next month, which is still a freeze on Ofgem’s cap to help people survive the cost of living crisis.

If no action had been taken, the price cap would have risen to £3,549 instead, putting more people at risk of not being able to pay their bills.

To try to help people martin lewis offers advice on what to do and he has now broken down the new average direct debit rates too.

Lewis posted a thread on his Twitter and wrote: “The new average direct debit rates for the October 1 Price Guarantee have been announced. Electricity Unit Rate: 34.00p per kWh Base Charge: 46.36p per day. Gas unit rate: 10.30 pence per kWh. Permanent fee: 28.49p per day.

“This is just an average, prices are set regionally.

“They’ll also likely be a few percent higher for those using prepayment or paying by invoice.”

Lewis also said initially: “These rates only apply to houses with default standard rates (about 85% of houses). Fixes that cost more than the new price guarantee will likely lower their rates as well. But we are still awaiting clarification on how and what will happen to those with cheaper fixes.”

However, he later clarified this, saying: “Sorry [I was] Confused by myast [sic] Sentence. Whoever has cheaper fixes can stick with it. The clarification is whether their fix rate will be lowered further or remain the same. And how that kind of rule would apply.”

https://www.theargus.co.uk/news/21372699.martin-lewis-breaks-average-energy-bill-direct-debit-rates-october/?ref=rss Martin Lewis breaks down the average debit rates for energy bills in October

Fry Electronics Team

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