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Levi Winchester & Sonia Sharma

Martin Lewis says Ofgem price cap rise is 'almost totally meaningless' for energy bills

Consumer expert Martin Lewis says the new Ofgem price cap is “almost totally meaningless” for energy bills.

Ofgem has confirmed its price cap will rise to £4,279 a year from January. Households are currently protected from rocketing prices through the Energy Price Guarantee, which started on October 1.

At the moment, the typical household pays £2,500 a year for their energy. This level will remain in place until April 2023, when the Energy Price Guarantee will rise to £3,000 for one year.

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