GMB interrupted for breaking news and it's 'nightmare for Brits'
Good Morning Britain was interrupted for a breaking alert as Chancellor John Healey announced an end to standing charges on gas bills for around 23 million households ahead of the Autumn Budget. Delivering further details on the breaking update, Martin Lewis said: "Standing charges are going to end on gas next year. So there's £108 a year coming off bills and it will be shifted onto the unit rate. What that means, as I've long said, is it means lower users will pay less. Higher users will pay more. As someone who's been campaigning on this for a very long time, I think standing charges are a moral hazard. I think they disincentivise people from cutting their bills.
TL;DR
- Standing charges on gas bills will be abolished from next year for around 23 million households.
- This change is expected to save households £108 per year by shifting costs to unit rates.
- Lower energy users will pay less, while higher users will pay more.
- Martin Lewis predicts a 27% increase in the energy price cap in January, potentially adding £450 to typical bills.
- The period from January to March could see an increase of approximately £100 on energy bills.
- The Warm Home Discount is mentioned as a potential measure to help alleviate bill shock, with suggestions to increase it to £250.