How to apply for help paying your energy bills
Money Box
BBC
4.2 • 825 Ratings
🗓️ 4 June 2022
⏱️ 26 minutes
🧾️ Download transcript
Summary
According to the charity National Energy Action 6.5 million households are now living in fuel poverty which is up 50% on October last year. Fuel poverty is defined differently across the UK, but if you cannot afford to heat your home to the temperature needed to be healthy then you are in fuel poverty. People struggling to afford their energy bill are always advised to contact their supplier. We've been finding out what help is available.
A report has highlighted the need to ensure low-cost flood insurance is available for those on lower incomes. According to the Resolution Foundation more than 1-in-3 of the lowest income households would like contents insurance but cannot afford it. It says as floods become more common in the UK more people could lose out financially. The government says everyone should have access to affordable flood insurance. The Association for British Insurers says there are already some low cost home contents insurance products for those in social housing and that it's looking at ways to improve financial inclusion. We'll speak to the Chief Executive of Flood RE which is a scheme designed to help insurers offer cheaper cover to those in flood-risk areas.
How will final salary pensions be affected by high inflation? The pensions consultancy XPS estimates that people on these pensions could be worse off by £7000 over the rest of their lives as inflation rises above the caps. We'll find our more about their research.
And what does the new Bank of England interest rate rise to one percent mean for your personal finances?
Presenter: Paul Lewis Reporter: Dan Whitworth Researcher: Sandra Hardial Editor: Jess Quayle
Transcript
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| 0:00.0 | You are about to listen to a BBC podcast and I'd like to tell you a bit about what goes into making one. |
| 0:06.5 | I'm Sadata Sese, an assistant commissioner of podcasts for BBC Sounds. |
| 0:11.2 | I pull a lot of levers to support a diverse range of podcasts on all sorts of subjects, |
| 0:16.0 | relationships, identity, comedy, even one that mixes poetry, music and inner city life. |
| 0:22.4 | So one day I'll be helping host develop their ideas, the next fact-checking, a feature, |
| 0:28.3 | and the next looking at how a podcast connects with its audience, and maybe that's you. |
| 0:33.6 | So if you like this podcast, check out some others on BBC Sounds. |
| 0:39.4 | BBC Sounds, music, radio podcasts. |
| 0:43.7 | Hello, welcome to this Moneybox podcast. |
| 0:47.1 | As the risk of flooding grows, two thirds of low-income homes have no insurance against the devastating losses it causes. |
| 0:55.5 | What does the new bank rate of 1% mean for your personal finances, |
| 1:00.3 | and will double-digit inflation dull the shine of gold-plated pensions? |
| 1:05.5 | But first, six and a half million households are now living in fuel poverty. |
| 1:10.7 | That figure from National Energy Action is up 50% from October last year. |
| 1:15.6 | Fuel poverty is defined differently across the UK, |
| 1:17.6 | but if you can't afford to heat your home to the temperature needed to be healthy, |
| 1:21.6 | then you're in fuel poverty. |
| 1:23.6 | The cause isn't hard to find, of course, large increases in the cost of electricity and gas, and in a few months the problem will get worse. The Bank of England forecast this week that energy prices would rise another 40% in October, adding £800 a year to the typical fuel bill. People struggling to pay their energy bills, though, may be able to get help from their |
| 1:44.6 | local energy supplier. MoneyBotch reporter Dan Whitworth has been finding out what's available, Dan. |
| 1:50.5 | Well, Paul, I've been speaking to the Big Five energy suppliers, and they all have slightly |
| 1:54.6 | different schemes with slightly different criteria, offering slightly different types of help. |
| 2:00.4 | But they're all aimed at helping people just |
... |
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