Will your energy bills rise this winter despite a falling price cap?

This is Money Podcast

This is Money

Business News, Business, Investing, News

4.1 • 650 Ratings

🗓️ 6 October 2023

⏱️ 56 minutes

🔗️ Recording | iTunes | RSS

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Summary

Inflation is easing, food prices are coming down from their peak and the energy price cap dropped last weekend.

But you are still paying around 10 per cent more for your groceries now than last year, petrol prices are rising, mortgage rates are still high, and you may end up paying more for your gas and electricity this winter too. But how is that possible?

This week, Angharad Carrick, Georgie Frost, Lee Boyce and Helen Crane tackle energy bills and look at who might be paying more in the next three months.

And when it comes to water bills, some firms are looking at charging 44 per cent more over the next seven years. Why?

Crane on the Case this week tackles a parking charge issued after someone waited too long in a McDonald’s drive-thru queue.

Despite that, Helen managed to get a positive result – but why are so many parking charges being dished out every day, and where is the promised government help to stop it happening.

Lee gives you a run through of another busy week in the world of savings and banking.

NS&I has pulled its best buy one year fix paying 6.2 per cent; NatWest has a secret top 5.2 per cent easy-access deal; Moneybox is offering the top cash Isa of 5 per cent; and Starling Bank is now offering to pay you for having a current account.

It’s also been a hairy week for Metro Bank – but we explain why FSCS has you covered.

And finally…the list of the UK's 'perfect' retirement locations has been revealed - and there are some surprising names on it, including the Outer Hebrides.

Consumer group Which? has taken retirees' wish-lists for their later-life locations to work out its own grouping of the 12 top places to spend your golden years.

But does it tally up to what you think is a perfect retirement location?

Transcript

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0:00.0	Welcome to This Is Money podcast. I'm Georgie Frost and joining me and Lee Boyce today is Helen Crane and Ang Harrod Carrick.
0:09.0	And coming up, bills, bills, bills. The price gap has fallen, so why will some of us, me included, be paying more for our energy this winter?
0:17.6	Meanwhile, water bills are set to soar by almost 50% by 2030. Find out how much
0:22.5	extra your provider wants to charge you. Also today, the big whack. I got a parking ticket
0:28.1	waiting in the McDonald's drive-thru. I didn't. A reader did, but Crane is on the case. Plus,
0:33.3	lots to talk about in the savings market, NS&I pulls its top fix, but you can bag an easy access of 5.2
0:40.1	and the best easy access cash is a rate in 15 years hits the market, plus the current account that pays you.
0:48.0	And forget Bournemouth, forget the cost of down so.
0:50.6	Find out where the perfect place to retire to is.
0:53.7	Don't forget you set stop to date with all the
0:55.1	latest breaking money news. Just go to this ismoney.co.com.com or download the app.
1:00.8	Don't forget, you can stay on top of what's going on in the markets by tuning in to the
1:04.4	Digest and Invest podcast by Itara. Go to your regular podcast platform and listen on the go. Digest
1:09.3	and Invest by Itara, the podcast for
1:11.4	those interested in trading and investing. But first, inflation may be falling, but the cost of living
1:16.4	crisis is far from over. Food prices are coming down from their peak and the energy price
1:21.4	cap dropped last weekend. But you're still paying around 10% more for your groceries now than
1:26.5	last year. Petrol prices are rising.
1:28.6	Mortgage rates are still high.
1:30.2	And you may end up paying more for your gas and electricity this winter too.
1:34.6	But how is that possible?
1:36.0	And we haven't even got started on water bills.
	...

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