Martin Lewis issues 60-day energy bill warning to every UK household
Martin Lewis has urged every household in the UK to complete a vital check ahead of the energy price cap rise this October. The financial guru has issued his latest advice ahead of prices soaring beyond GBP3,000 in just a few months. The MoneySavingExpert.com founder is warning people to begin budgeting now ahead of the increase to bills later this year, Yorkshire Live reports.
Recent estimates have suggested that the price cap will rise to over GBP3,300 at the next review, with the official figure set to be confirmed in August. Mr Lewis said: “If your direct debit goes up in advance, it’s actually not the worst thing because it will help spread the cost even though you might not like it. It’s going to be horrendous and I hope that when a new Prime Minister comes in place, the current sort of freeze on policy-making ends on that day, on September 5.
Read more: Pickup truck crashes into front of Lincolnshire fuel station “What’s likely to happen if you’re on the price cap, if you’re paying GBP100 a month now, it’ll be GBP165 in October. If you’re paying GBP200 a month now, it’ll be GBP330 in October on average, that’s the scale.
Annual household energy bills are set to rise further in October when the price cap goes up. This will be the second major rise in one year, as prices already rise by 54 per cent in April. Mr Lewis told ITV’s Peston programme: “The big movement that I am seeing is an increase of growth in people calling for a non-payment of energy bills, mass non-payment.
Effectively a consumer strike on energy bills and getting rid of the legitimacy of paying that.”