Jasmine Birtles
Your money-making expert. Financial journalist, TV and radio personality.
Could British Gas’ £140m Fund Help You?
Reading Time: 3 minutesWhile many people have a credit surplus as we move into spring, thanks to higher winter direct debits and more awareness of energy saving practices, millions of households are still in or facing energy debt. British Gas has a £140m fund designed to help households (and small businesses) to avoid financial difficulty caused by energy bills.
The British Gas Energy Trust – For Anyone
What is the British Gas Fund?
British Gas allocated £140m to support households and small businesses with education about energy saving tactics, grants to help with energy debt, and their unique You Pay: We Pay scheme to help people avoid financial difficulty with energy bills.
Since 2021, the fund has already helped 21,000 customers with average grants of £2,000 to write off energy debts. It has also set up additional regional advice services, invested in more customer service representatives to reduce call times and improve communication with customers struggling to pay their energy bill, and set aside £15m to help small businesses like pubs and shops with rising costs.
You Pay: We Pay Scheme
This is a unique scheme as part of the £140m British Gas fund, not offered by any other energy supplier. It is designed to help you get out of or avoid energy debt if you’re struggling with your bills, by incentivising you to pay something towards your bills each month.
British Gas will then match what you pay towards your bills – so if you pay £100, so will they, meaning you’ll get a total of £200 paid towards your energy bill. This is a six-month scheme starting from June 2024, so that would mean £100 a month paid by customer over six months (£600 total) plus a further £600 matched by British Gas. This is a brilliant scheme designed particularly for households who have built up some debt on their account and are struggling to pay it off.
Eligible customers will be identified and contacted by British Gas, so you don’t need to do anything to apply.
Money Advice Services
As part of its commitment to improving financial outcomes for households of their customers, British Gas has also used some of the large fund to invest in financial education and money advice services across the UK.
These hubs are designed to give people control over their finances by providing free education about money management and energy saving tips to save on their fuel bill even if costs rise again. Some hubs are specifically run by British Gas, while others are within local Post Offices with advisors fully trained by the fund.
Energy Grants
Some customers struggling with energy debt will be able to access up to £250 credit grants towards their bills – which means they won’t need to pay it back. British Gas is identifying the customers suitable for this scheme, which uses £10million of the total fund money, so you don’t need to apply.
If you think you might need their help and haven’t had information from them, however, get in touch with them. The first step to preventing or sorting out energy debt is to talk to your energy supplier – and this will help them to know that you’re struggling to pay your bills. Many people will prioritise their energy bill over other costs, so it appears to their supplier that they aren’t in financial difficulty. Highlighting your difficulty with your energy supplier is the first step to finding out what schemes and grants you could be eligible to claim.
The British Gas Energy Trust – For Anyone
Even if you’re not a British Gas customer, you could get help from their independent charity, the British Gas Energy Trust. Families and individuals facing fuel poverty can apply to the Trust for financial support in the form of grant to money management tips and energy saving advice.
The Trust has been around a long time – in fact, this year is its 20th birthday. To celebrate twenty years of the charity, British Gas have donated an extra £20million to the charity – taking their total contribution to helping fight fuel poverty to over £200million in twenty years.
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