Martin Lewis shares details of new energy 'social tariff' system in reaction video to Autumn Statement
Martin Lewis has shared details of a proposed new ‘social tariff’ aimed at supporting vulnerable customers through the cost of living crisis next year. Chancellor Jeremy Hunt announced that the UK Government’s £2,500 Energy Price Guarantee will increase to £3,000 from April and will be in place until the end of March 2024.
The founder of MoneySavingExpert.com also shared details that were not mentioned in the Autumn Statement but have been confirmed. He explained that there is a consultation on that proposal and that it could come in as part of the Energy Price Guarantee before March 2024. The financial journalist said: “After April 2024 they are also consulting on moving to a social tariff system.”Top Money Stories Today Martin explained: “The most vulnerable who can’t engage in a competitive market will automatically be put on a cheaper tariff without having the need to switch on it.”
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