Money saving guru Martin Lewis issued an important warning about the new energy guarantee in an emergency live show on Thursday night (September 22). Live on ITV, Lewis explained the new price guarantee intervention introduced by the government.
Earlier this month, Prime Minister Liz Truss announced that the Government would guarantee that the average household will pay no more than £2,500 in its energy bills, with the new energy price guarantee set to be in place for households from October 1. The money guru warned that the new price guarantee is on standard charges and unit rates, and that there is actually 'no cap' on how much households could end up paying.
And he warned that average households could still be paying almost twice as much as they were last winter. "From October 1, the huge shift coming to households has gone. The household bills will still be just under double what people were paying last December," he said.
