Martin Lewis says there is 'good and bad news' as £1,200 energy bills rise predicted for next year
Martin Lewis says there is 'good and bad news' in the latest predictions over how much households could be paying for their energy next year. He said the average household could be looking at a yearly bill of £3,700 after the energy price guarantee comes to an end in March.
Money saving expert Martin Lewis suggested that the end of the energy price guarantee will likely see a return to the energy price cap, set by Ofcom. The energy price cap was expected to jump from £1,971 to £3,549 a year from October 1, before the government stepped in to freeze prices.However, with support now coming to an end after just six months, analysists have predicted what the price cap may be for April if it is reinstated.
Mr Lewis tweeted to his followers this afternoon: "Bad & good news. It's early days but @CornwallInsight's latest prediction for the April price cap is a 48% rise; taking a typical bill to £3,700/yr from £2,500 Yet its less than the 72% predicted be4."
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