Martin Lewis warns anyone who pays by direct debit about rising energy bills

Martin Lewis has issued a price hike warning to anyone paying theirs energy bills by direct debit.

That Money Saving Expert Founder shared the warning during a regular appearance on ITV This Morning, where the cash-saving guru regularly gives viewers financial advice.

This week he appeared alongside hosts Dermot O’Leary and Alison Hammon.

Speaking on Wednesday’s episode of the show, he shared and revealed a price hike warning from energy companies Ofgem found four companies with “serious weaknesses”.

He said: “They have weaknesses in their processes so action is being taken against direct debits.

“We would expect direct debits to go up – if they’re up more than 100 per cent they’ll be asked to review them. So if it’s you and yours is up more than 100 percent, the company should check it out.”

Ways to reduce your energy costs

Martin Lewis reveals ‘terrible’ energy bill hike this year

It comes after Mr Lewis revealed he was “feeling sick” after sharing the latest predictions for energy prices later this year.

In April, energy bills for the average household rose 54%, with energy bills playing a key role in the ongoing cost-of-living crisis that has crippled Brits’ finances.

“It makes me sick to write this,” Mr. Lewis warned.

The cash saving guru continued: “Just got the latest price cap forecasts from @CornwallInsight. A huge rise in key wholesale price for the year ahead means…

“OCT cap forecast up 64% (i.e. £3,244/year on typical bills).

“JAN cap forecast up 4% (i.e. £3,363/year)”

This Morning continues to air weekdays from 10am on ITV. Martin Lewis warns anyone who pays by direct debit about rising energy bills

Fry Electronics Team

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