Today sees the next price cap announcement from Ofgem with some expectations that the next cap is going to increase as much as 82%
With this increase will come more people throughout the UK unable to afford to pay their energy bills so on top of existing industry schemes like the Warm Home Discount and the government assistance we take a look at what some of the support on offer through the energy suppliers.
Suppliers already have a range of support in place for customers which they put into place at the beginning of the Covid-19 pandemic, and have committed to continuing them throughout the energy crisis including:
- Payment holidays
- Restructured payment plans
- Credit advances to customers on pre-payment meters
In addition to the above initiatives, eleven of the largest energy suppliers are signatories to Energy UK’s Vulnerability Commitment pledging to improve services they provide to those most in need.
What are the companies doing to support the consumer?
Centrica – British Gas Energy will donate 10 percent of all profits to the British Gas Energy Support Fund to provide grants to customers for the duration of the energy crisis and have also doubled the emergency credit available to customers who are on pre-payment meters for their gas and electricity after April’s month’s increase in energy prices.
This includes writing to customers who have electric key or gas card telling them that they can continue to use energy until they are £10 over their pre-payments, up from the previous £5.
EDF Energy – EDF Energy has doubled the amount of financial support available to its customers in 2022 to £10.4 million and has increased the number of frontline advisors by 500 to help support customers.
E.ON – E.ON Energy Fund supports the payment of customer debt and the provision or replacement of boilers and white goods such as washing machines, fridges, freezers and cookers when urgently needed by our customers.
Octopus – Octopus have created a £5 million ‘Octo Assist financial hardship fund’ dedicated to helping customers who are unable to afford the cost of living.
The fund has already helped over 50,000 customers and recently got increased in size to £7m.
Utilita – Utilita are going to be introducing a hardship fund to help customers write off debt and have doubled the size of its Extra Care Team in response to the cost-of-living crisis.
Dan Alchin, Energy UK’s Director of Retail, said: “Suppliers have been increasing the amount of support, on top of that which they already provide to customers, as well as working closely with charities and consumer groups who can provide specialist help to those who need it. Any customer who is struggling to afford their bills should contact their supplier to see if they can benefit from any of the help on offer.
“At the same time, the industry knows this will be nowhere near enough given the amount of customers who will be left struggling by the predicted rise in bills, which is why we need the Government to step in and help further.”
