Cost of Living update – at 18 November

Chancellor Jeremy Hunt announced further measures in his autumn statement yesterday. Here, we’ve provided a quick update on the energy price change and additional cash payments to help towards those energy costs.

The government has adjusted the energy price guarantee so a typical household’s annual energy bill will now be £3,000 per year from April 2023 to the end of March 2024.

Remember, this is not a cap on how much you will actually pay – your bill depends on how much energy you actually use. The more energy you use, the more you’ll pay – use less energy, the less you’ll pay.

From April 2023, some groups will receive cash payments to help with energy costs:

£900 Cost of Living payment to households on means-tested benefits from the Department for Work and Pensions (DWP) in 2023/2024. These are: Universal Credit, Income-based Jobseekers Allowance, Income-related Employment and Support Allowance, Income Support, Working Tax Credit, Child Tax Credit and Pension Credit.

£300 Cost of Living payment for pensioner households.

£150 Disability Cost of Living payment in 2023-24, for customers on disability benefits.

We’ll provide further details once more information is available.

If you’re struggling to pay your bills or are confused about what payments you’re entitled to, you can get free, independent support from our Tenancy Sustainment Team on 0800 533 5442 or email enquiries@bykerct.co.uk