Martin Lewis says there is 'good and bad news' in the latest predictions over how much households could be paying for their energy next year. He said the average household could be looking at a yearly bill of £3,700 after the energy price guarantee comes to an end in March.
Last month, it was announced that the two-year energy price freeze, which sees the average household pay a yearly bill of £2,500, will now run for just six months. The guarantee, which caps the price per unit of energy, will be reviewed following the winter with targetted support introduced from April 2023, the government said.
Money saving expert Martin Lewis suggested that the end of the energy price guarantee will likely see a return to the energy price cap, set by Ofcom. The energy price cap was expected to jump from £1,971 to £3,549 a year from October 1, before the government stepped in to freeze prices.
