Martin Lewis has issued a stark warning to anyone on a State Pension as energy bills are set to rise.
The consumer champion appeared on Good Morning Britain after shock forecasts from analysts Cornwall Insight have predicted bills will rise even higher this winter than had been previously thought. Bills are now expected to reach approximately £3,582 per year for the average household from October - up from the £3,359 predicted earlier this month.
From January, that amount is expected to rise to £4,266 before rising again in April to £4,427 - the previous forecast was for £3,729 in April. Cornwall Insight said these changes were due to "a change in calculation methodology" by energy regulator Ofgem.
READ MORE: DWP issues one week cost of living payment warning to everyone of State Pension age
The finance guru branded the rise as "cataclysmic" and warned the typical bills for people on State Pension will likely be higher. He said: "Many pensioner households will be more because they have the heating on more for very understandable reasons.
"That is 45% of the full new State Pension and a bigger proportion of the old State Pension. We're not talking mortgages or rent. This is absolutely catastrophic."
The Conservative government claimed it is unable to introduce any new measures until a new leader is elected. Martin blasted the "zombie government" and urged candidates, Liz Truss and Rishi Sunak, to reach an agreement to support people.
Mr Sunak has indicated in his pledges he plans to evaluate the cost of living payment, but Martin said this must be doubled to be in line with the new forecasts. He said: "The gap between the current price gap and the average over October - March has doubled from where it was in May so we need to see a doubling of his amounts."
The finance guru also blasted Ms Truss' proposed pledges to cut taxes and suspend the green levy. He said: "This is a sticking plaster on a gaping wound. She needs to come out and give us tangible promises of what will happen now."
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