Martin Lewis issued a stark warning to every energy customer across the country as he returned to the small screen for a new series of the Money Show Live this week. The consumer champion devoted the first part of the programme to the energy crisis, following the announcement from new Chancellor Jeremy Hunt that the UK Government’s £2,500 energy price guarantee will end next April.
The guarantee, which replaced Ofgem’s price cap, prevented bills rising from £1,971 to a predicted £6,000 this winter. However, Martin told viewers that early forecasts from industry analysts at Cornwall Insight, suggest that the nation is facing a 73 per cent hike in gas and electricity bills from April to an estimated £4,350.
And with that bombshell, the financial guru issued another to British Gas and EDF customers over their Direct Debits payments. Martin explained how these two energy firms only review Direct Debits twice a year, linked to when customers joined, which means they could be facing a huge rise in their payments next year.
