MyBnk has teamed up with SGN to bring back My Moneycast for a two episode special – we’ll be exploring how things have got to where they are now, what help is on offer and sharing some tips on how to get through this situation.
It’s all over the news – energy prices are about to soar and for a lot of people, paying for their gas and electric is about to become that little bit harder.
The reasons for this price hike include the cost of gas going up, the two year pandemic we’re just emerging from where we used more gas as we worked from home and a mix of world politics that has resulted in prices increasing, not just in the UK, but around the world as well.
But what can we do about it? Clearly making more money would be lovely but we know it’s not always easy to just get another source of income to help. We could try and save some money in other areas to help pay for the energy bills but people might find there’s very little left to cut to help here.
In England, the government is about to give households £350 to help with the bills this year – A £150 Council Tax Rebate and a £200 Energy Bills Rebate.
For the Council Tax Rebate, £150 will be given to any household that is council tax band A-D by your local council on April 1st. If you pay by direct debit, the money should go straight to the account you usually pay with. If not, you’ll need to contact your local council to find out how to get your payment. If you have a low income and live in a band E-H property, you should contact your local council to see what other help you might get – they’ve been given money for cases like yours!
Other parts of the UK, such as Scotland and Wales, will be provided a pot of cash to offer similar help – in fact, Scotland has decided to match the council tax rebate as its offered in England – £150 if you’re in bands A-D.
For the Energy Bills Rebate, the government will also pay £200 toward every ELECTRIC bill – whether you share with 10 people or live alone, the figure doesn’t change. However, this is actually a loan – the government is planning to take back this £200 at a rate of £40 a year starting in 2023 when they hope prices will be more normal than they are right now! (And at the time of writing, there’s no way to opt out of this scheme either!)
There’s been loads of dodgy advice too – with energy companies sending customers socks to help keep warm and telling them to hug pets. So, where can you get the latest info on all the help on offer that might ACTUALLY be useful?
Well, we’ve teamed up with SGN to bring back My Moneycast for a two episode special – we’ll be exploring how things have got to where they are now, what help is on offer and sharing some tips on how to get through this situation.
Join us on Youtube on March 17th at 4pm for our first of two specials looking at the energy crisis, starting with a look at how to beat the bills as they keep changing. Then, on March 24th, join us again as we explore the world of Energy Safety – making sure you’re safe and secure in your home!
We’ll have someone in the chat on the day to take your questions but if you have anything you’d like to ask a MyBnk trainer, please email us on firstname.lastname@example.org.
See you then!