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Liverpool Echo
Liverpool Echo
World
James Rodger & Sophie McCoid

Martin Lewis' 60 day warning over energy bills

Martin Lewis has issued a warning over energy bills, saying that people will feel "no real benefit" over the coming months.

The Money Saving Expert appeared on BBC's Sunday with Laura Kuenssberg on Sunday to speak about the current financial climate.

ITV star Martin warned that while people usually see a reduction in their energy bills over the summer, people will still be paying what they were over winter, because the help from the government will stop. - reports Birmingham Live.

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He said: "In practical terms what you pay from July will drop by somewhere between 15 and 20% We're pretty sure it's in that ballpark. Then the next price cap is in October. The current prediction - and the further out you go it's more crystal ball gazing it is - is that it will drop a little bit more and then go up a little bit in January but still be in roughly the same amount it is now.

"It is an improvement, it's not the biggest improvement, it's worth remembering in April everybody lost the £66-£67 winter bills support."

Mr Lewis, who appears regularly on Good Morning Britain, added: "In practical terms people aren't going to be feeling any real benefit, they're going to be paying the same that they were over winter and next winter is going to be the same as just gone - which is over double what we always thought."

"We've monumental questions about consumer energy bills coming forward - they're too expensive, they're badly structured, there's no competition in the marketplace.

"Clearly the people who have been in charge have been asleep at the wheel for the last few years. There's support for people on the lowest incomes, the important thing that will happen in July that we haven't seen since last October is that the energy price guarantee ends, which means the state subsidy of everyone's bills is ending.

"(It's) nine months earlier than it was predicted to, the expenditure on it is tens of billions of pounds less than than we thought. There is money to help those on middle and lower incomes and it's the people just above the threshold who don't get the cost of living help for whom £2,000 a year energy bills are unaffordable."

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