Cash knowledgeable Martin Lewis has given an replace to all power prospects on the lacking zero standing cost tariffs.
Martin Lewis has given an replace on zero standing cost tariffs (Picture: ITVX)
They have been heralded as a protracted awaited revolution in power invoice pricing on their announcement final 12 months however now Martin Lewis has given an replace on the hotly anticipated zero standing cost power tariffs and it’s not excellent news.
The cash knowledgeable returned on The Martin Lewis Cash Present Stay on ITV1 on Tuesday the place he gave viewers an replace on the state of affairs with the tariffs.
For years, Martin blasted standing expenses on payments as a ‘ethical hazard’, as a result of they successfully punish low power customers, who are sometimes the poorest and most weak.
Standing expenses are a every day cost added to your invoice, successfully a cost only for being related to the grid, and are charged individually on each fuel and electrical energy.
Proper now, the standing cost is ready at 54.75p per day for electrical energy and 5.93p per day for fuel. It implies that any twin gas family has to pay £18 a month each month even when they haven’t used any energy in any respect.
Then, power regulator Ofgem introduced in February 2025 that it might introduce low or no-standing cost tariffs for patrons.
Later within the 12 months, Ofgem then launched a session on the plans which might make a zero standing cost tariff necessary from all power suppliers, akin to British Gasoline, EDF, EON, Octopus Power and all different companies.
It stated that this could be put in place by January 2026, however that has been and gone and there may be nonetheless no signal of the zero-standing cost tariffs.
On Tuesday’s present, Martin gave an replace on the state of affairs and it’s not optimistic.
He advised viewers: “What occurred to Ofgem’s low or no standing cost tariff it promised?
“All companies have been supposed to supply these by the tip of January, after which they stated it might be early 2026. And now…tumbleweeds.”
However a change to the value cap to include the federal government’s £150 rebate also needs to see power payments considerably decreased on the following value cap announcement.
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Martin added: “The boss of Ofgem, the large boss, is on the present in two weeks’ time, on the following present, when the value cap is being introduced. That’s presumably the largest change we’ve seen to power within the final three years, power costs are prone to come down each should you’re on a variable and should you’re on a repair. It’s a should watch on February 24.”
The Martin Lewis Cash Present Stay February 10 episode remains to be out there to look at by way of ITVX.
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