The brand new vitality value assure is being launched at present (October 1) amid a rise on family vitality payments.
The typical family will see their vitality payments frozen at £2,500 per 12 months, however it could possibly be extra relying on how a lot fuel and electrical energy is getting used.
Whereas the value assure has been frozen as a part of the Power Invoice Assist Scheme, many individuals are understandably nervous since that is greater than earlier value caps and the price of meals, petrol and different necessities can also be rising.
Nevertheless, as a part of this scheme, each family will obtain a £66 low cost on their vitality invoice, the Mirror reviews.
This is the whole lot you should know concerning the low cost, together with the way it's utilized and the way lengthy for.
How a lot is the vitality invoice low cost?
In complete, households will obtain £400 off the price of their vitality payments.
This might be cut up throughout six month-to-month instalments, from £66 in October and November and £67 from December to March 2023.
This would possibly not have an effect on another advantages or funds you may obtain, and does not must be paid again.
For those who pay your vitality invoice by way of Direct Debit, this might be taken off your invoice routinely or the cash might be refunded into your checking account every month.
Will these on good or prepayment meters obtain the low cost?
Anybody with a sensible prepayment meter will see the low cost added on to their good meter within the first week of every month.
Nevertheless, in case you have a standard meter, you will get a voucher out of your provider every month by way of textual content, electronic mail or submit. These may be redeemed in the case of paying.
For those who pay after you've got obtained your month-to-month invoice, you should have a credit score added to your account within the first week of the month. You do not want to use, or pay it again and it's routinely being issued by your vitality supplier.
What has the federal government mentioned about vitality costs?
When the Power Invoice Assist Scheme was introduced again in July, former Enterprise and Power Secretary and new Chancellor of the Exchequer, Kwasi Kwarteng, mentioned: "Folks throughout the nation are understandably nervous concerning the world rise in vitality prices, and the stress that is inserting on on a regular basis payments.
"Whereas no authorities can management world fuel costs, now we have a accountability to step in the place we are able to and this vital £400 low cost on vitality payments we’re offering will go a way to assist tens of millions of households over the colder months."
Nadhim Zahawi, who was Chancellor of the Exchequer on the time of the announcement, added: "We all know that individuals are combating rising vitality costs which is why now we have taken motion with help over the winter months to assist ease the stress on family budgets.
"This £400 off vitality payments is a part of our £37 billion of assist for households, together with 8 million of essentially the most weak households receiving £1,200 of direct help to assist with the price of dwelling.
"We all know there are robust occasions forward and we'll proceed to do the whole lot in our energy to assist folks."
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