Ahead of Chancellor Jeremy Hunt’s Spring Budget on March 15, energy experts at Forbes Advisor have looked at how much more running essential and popular household items could cost people from next month - if the UK Government increases the £2,500 Energy Price Guarantee (EPG) to £3,000 as planned.
There is widespread speculation that a campaign led by consumer Champion, Martin Lewis, to freeze the EPG at £2,500 until July is going to be announced on Wednesday. The open letter to the Chancellor has been backed by over 110 charities and organisations, however, Secretary of State for Energy, Grant Shapps MP, wouldn’t commit to an answer when appeared on the Martin Lewis Money Show Live last week - which prompted the financial journalist to respond he is now “99 per cent certain” the hike will not go ahead on April 1.
However, if the Chancellor decides the 20 per cent increase will go ahead, the cost of doing a single load of laundry could go up from 71p to 86p.
