OCTOPUS Energy is handing out Winter Fuel Payments of up to £200 to vulnerable pensioners this winter.
Thousands of pensioners who are otherwise set to lose out on their government Winter Fuel Payment this year could seek the cash from the energy firm.
It comes after the benefit was slashed in the Autumn Budget for anyone over state pension age who does not also receive pension tax.
It resulted in thousands of households losing out on their yearly payment of £200 or £300 which was essential in heating their homes through the colder months.
For this reason Octopus Energy has extended its Octo Assist Fund to help support pensioners who are struggling to pay their bills this winter.
Octopus Energy announced: “We’re extending our £30m Octopus Assist fund so that thousands of customers missing out on the Winter Fuel Payment and struggling with bills can now claim discretionary credits of £50, £100 and £200 from the fund.
Eligible pensioners can apply for the energy firm’s very own Winter Fuel Payment using a form on its website or via mail or phoneline.
It is only available to those who already have an account with Octopus.
Customers can claim the support of £50, £100 and £200 from the fund based on their individual needs.
When you apply, the energy firm will ask for some details about you to assess how much of the payment you should get.
For example, you might be asked to share some information about your health, any vulnerabilities, your income and monthly costs, and whether you are in receipt of any other government support or benefits.
Bear in mind that you must be over state pension age – which is 66 years old for both men and women.
The scheme will run until the end of March and is set to be renewed next year.
The payments are made on an ongoing basis, as and when customers apply.
Once approved, a payment can be credited instantly into a customer’s energy account.
The Octo Assist Fund is a scheme which has been made to support customers who are struggling to pay their bills in the cost of living crisis.
Over the last three years the energy firm has racked up a £30 million pot of funding and helped 80,000 customers.
Its support includes payment breaks, standing charge holidays and clearing energy bill debt.
The company has also distributed over 60,000 electric blankets to UK households with a “heat yourself not your home” initiative.
An electric blanket costs as little as 3p to run – resulting in an average £150 winter saving per household.
It has also offered thermal imaging in homes to figure out which areas of a house are creating draughts or leaks.
While the company has also sought to deliver in-person advice to households, such as recommending energy usage at off-peak times and offering account help to those who do not have online access.
They also advise those who have not yet claimed pension credit to make sure they are receiving what they are owed by the government.
When you apply for the Assist Fund, Octopus will calculate if you are missing out on any support and advise you on how to claim.
Octopus Energy said: “Overall, we’ve spent well over £150 million to support customers since the beginning of the crisis, between helping the most vulnerable through the Assist fund and absorbing some of the highest energy costs off everyone’s bills.”
Pension Credit is a benefit which gives you extra money to help with your living costs if you’re on a low income in retirement.
It can also help with housing costs such as ground rent or service charges.
You may be able to get extra help of you’re a carer, have a disability, or are responsible for a child.
It also opens up access to lots of other benefits such as the warm home discount scheme, support for mortgage interest, council tax discounts, free TV licences once you’re over 75, and help with NHS costs.
To qualify, you need to be over state pension age and live in England, Scotland or Wales.
If you have a partner, you need to include them on your claim.
Pension Credit tops up:
However, even if your income is higher, you might still qualify if you have a disability or caring responsibilities.
There is also another element to Pension Credit called savings credit. To get this, you need to have saved some money towards your retirement.
You can get an extra £17.01 a week for a single person or £19.04 a week for a married couple.
If you have more than £10,000 in savings, the government uses a calculation to work out how much it adds to your income.
Every £500 over £10,000 counts as £1 income a week. For example, if you have £11,000 in savings, this counts as £2 income a week.
British Gas
British Gas has reopened its £200 million Energy Trust’s Individual and Families Support Fund for this winter.
Unlike Octopus and many other supplier grants, British Gas extends its grant scheme to both British Gas customers and non-customers.
However, there are certain requirements to be eligible for the fund.
Pre-payment meter customers must be within £50 and £1,700 of energy debt.
They must also live in England, Scotland or Wales, and have not received a grant from the British Gas Energy Trust within the last 2 years.
It is recommended that customers from companies with hardship funds first seek assistance from their own schemes.
To apply for the British Trust Fund, go to ‘Grants Available’ on their website.
If you are eligible, British Gas can offer free energy grants, finding for small businesses and charities, tailored support for businesses and energy advice for vulnerable households.
Scottish Power
Scottish Power’s Hardship Fund has handed out more than £60 million to struggling customers.
Help is available if you receive from a long list of benefit schemes, including Income Related Employment and Support Allowance or Income Based Jobseeker’s allowance.
You may also be eligible if you are facing circumstances impacting your earnings, such as illness.
Read here to find out if you are eligible and how to apply.
Utilita
Utilita also offers grants to customers to help clear or minimise energy debt.
The scheme operates through Utilita Giving, which is the company’s charity partner.
Utilita Giving also partners with other charities such as IncomeMax, which helps customers make sure they are claiming what they are entitled to, and Let’s Talk, which provides replacement white goods.
To get in touch with Utilita and apply to the scheme, go to their website and provide the details of your current debts and finances.
EDF
EDF provides a customer support fund which helps those who are struggling to clear debt and replace essential white goods.
You can apply to the scheme through the Let’s Talk website, but must have taken independent debt advice before you can be considered.
E.ON
E.ON’s Next Energy Fund also provides grants and appliance replacement services to struggling customers.
To apply, you must submit proof of household income, and show that you’re committed to financial stability by submitting proof of regular payments across three months.
More information available on the provider’s website.
Utility Warehouse
Operated by Citizens Advice Plymouth, Utility warehouse offers payments of up to £140 to customers about to go in debt, or are currently indebted.
The team has helped 6,000 customers increase their combined disposable income in the last year by £9 million.
To find out whether you are eligible for financial assistance, visit their website.
Laura Court-Jones, Small Business Editor at Bionic shared her tips.
1. Turn your heating down by one degree
You probably won’t even notice this tiny temperature difference, but what you will notice is a saving on your energy bills as a result. Just taking your thermostat down a notch is a quick way to start saving fast. This one small action only takes seconds to carry out and could potentially slash your heating bills by £171.70.
2. Switch appliances and lights off
It sounds simple, but fully turning off appliances and lights that are not in use can reduce your energy bills, especially in winter. Turning off lights and appliances when they are not in use, can save you up to £20 a year on your energy bills
3. Install a smart meter
Smart meters are a great way to keep control over your energy use, largely because they allow you to see where and when your gas and electricity is being used.
4. Consider switching energy supplier
No matter how happy you are with your current energy supplier, they may not be providing you with the best deals, especially if you’ve let a fixed-rate contract expire without arranging a new one. If you haven’t browsed any alternative tariffs lately, then you may not be aware that there are better options out there.
Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.
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