Martin Lewis has warned households to expect their energy bills to soar in the spring following Jeremy Hunt’s Budget U-turn today.
The new Chancellor has scrapped plans to continue the Government’s previously announced Energy Price Guarantee, which was due to see the average bill capped at £2,500 a year for the next two years. The support will instead end six months after it was introduced, in April 2023.
In a series of Tweets, MoneySavingExpert founder Martin explained what this will mean for people in the UK. While the Chancellor said that help will only be available to the poorest after April, Martin warned that even those on higher incomes will still need assistance with their bills when the Guarantee ends as the cost of living rises yet again.
