Energy bills could rise again in the New Year. Millions of households across the UK are due to be hit with a surprise bill rise on January 1, 2023, according to Money Saving guru Martin Lewis. The consumer champion has issued to warning to bill payers to expect a hike from next month.
As households battling with the cost of living rise, Birmingham Live reported Martin as saying: "The energy price guarantee was meant to guarantee prices until the end of March (when we know the cost people pay will increase by 20%). So it will come as a surprise to many to see prices change in January". Ofgem, The Office of Gas and Electricity Markets, will update its price cap from the first day of the new year, January 1, meaning a discount on bills will change slightly.
However, the price hike, while unwelcome, may not be as dramatic as it first sounds for most households. The ITV Good Morning Britain regular says: "For most people the change will be trivial, but it is disappointing to see more substantial increases, with some on prepay meters seeing rises of 1%, which include most of the poorest in society".
