Martin Lewis has explained why millions of people will see a rise in their energy bills in April, despite Jeremy Hunt's budget announcement. The UK Government has confirmed that its energy price guarantee will stay at £2,500 for an additional three months from April to June.
The price guarantee, which caps the typical household bill at £2,500, was supposed to rise to £3,000 next month but the government had been under increasing pressure to cancel the increase with energy costs still high. It is estimated that Mr Hunt's decision, to be confirmed in his spring budget on Wednesday, March 15, will save the typical household £160.
Energy bills are currently forecast to fall even further in July, with consultancy firm Cornwall Insight currently predicting the price cap - which regulated the maximum a household could pay for their bills until it was replaced by the government's guarantee - will be £2,201 in July- well below the planned £3,000 guarantee from that date.
