MARTIN Lewis has issued a warning and advice to UK consumers as energy bill prices are set to soar. The MoneySavingExpert founder said “we’ve never seen anything like what is happening …
However, consumers will likely have to pay a lot more for energy.It will jump 12% to £1,277 on October 1 for someone with typical energy usage.
Based on the current rate of price increases, when the energy price cap moves again on April 1 next year it could jump to £1,500 or more, Martin said. If your cheap fixed rate energy tariff is about to come to and end, Martin shared advice on what to do next.Once your fixed rate period has come to an end, your provider will automatically put you on the Standard Variable Price.
However, in the current climate there are "very, very few tariffs" that will be cheaper than that, Martin said.
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