Martin Lewis has explained how much households can expect to pay for their energy bills when the Government's price cap comes to an end in less than five months' time.
The MoneySavingExpert founder referenced a new forecast from energy market analysts at Cornwall Insight, who said that energy bills are set to be lower than previously expected in the spring due to wholesale gas prices falling - but still "significantly above" the Energy Price Guarantee that is currently in place. They added that the prices will "likely prompt calls for greater Government intervention" next year.
Describing the prediction from Cornwall Insight as "bad and good news", Martin explained on Twitter that energy bills are forecast to increase by 48% in April. This will take the average household's energy bill from £2,500 a year up to £3,700, in a blow for many who are already struggling to make ends meet amid the rising cost of living.
