Martin Lewis has issued some key advice for people who may be struggling to pay their energy bills this summer. Energy costs are set to skyrocket for most families, as the energy price cap goes up at the end of the this month.
Energy regulator Ofgem sets the energy price cap on standard variable and default tariffs. It is currently priced at £1,277 per year on average for a typical household. The current energy price cap lasts until 31 March, and will shoot up to £1971 per year on April 1.
In February, Chancellor Rishi Sunak announced a £9 billion package of help for consumers who will be impacted by the 54% price cap rise. It includes a one-off repayable £200 discount and a £150 rebate on council tax bills, and £144 million to councils to support vulnerable households amid surging energy prices.
