Martin Lewis' website Money Saving Expert has shared a bleak warning to all bill-paying adults. The Money Saving Expert website says people need to brace themselves for yet another financial hit.
The warning comes after experts predicted an even sharper rise to the energy price cap in October. Yesterday Energy consultant Cornwall Insight said the average gas and electricity bill in England, Wales and Scotland could reach as high as £3,615 by the new year - this is hundreds of pounds higher than previous predictions.
Speaking to BBC Breakfast, the company said that the average bill could reach as high as £3,358 from October and £3,615 from January. Cornwall Insight's principle consultant, Craig Lowrey, told the programme: "However, while the rise in forecasts for October and January is a pressing concern, it is not only the level – but the duration – of the rises that makes these new forecasts so devastating,” he told the programme.
