Overview
- Santander identified about 146,000 customers likely to spend more than 10% of their monthly income on energy after July’s Ofgem price-cap rise and has completed proactive contact with them.
- The bank sent emails and mobile-app notifications explaining support options and encouraging customers to get in touch before payments are missed.
- Around 400 dedicated financial and customer care specialists are available to provide budgeting advice and more intensive help for those in arrears.
- Mark Weston, Santander’s director of financial support, said contacting the bank will not affect a customer’s credit file and urged people to seek help early.
- The government has cut VAT on electricity for short-term relief, which is expected to save a typical household about £45 a year, but forecasters say ongoing Middle East instability could push the price cap up roughly 2% in October, keeping pressure on household budgets.