Martin Lewis has beckoned people to look closely at the fixed rates on offer as the cost of living crisis spirals. The energy price cap will rise to £1,971 a year for the average household this Friday (April 1).
10.03.2022 - 13:27 / manchestereveningnews.co.uk
We've all seen the headlines, we are in a cost of living crisis. Whether it's the unfolding Russian invasion of Ukraine, or concerns over poverty in the UK, it seems there's plenty to worry about right now.
Next month millions of people, including myself, will have to face huge energy bills and the prospect of debt, struggle and cold, sleepless nights because we simply cannot afford to pay the rise in costs. Going without a hot shower, skipping a meal or avoiding putting the heating on altogether may become the new norm for so many due to the extortionate increase in energy bills.
READ MORE:Martin Lewis warns there are three things everyone must do before April 1
On April 1, energy regulator Ofgem will hike its energy price cap by 54%. The energy price cap, which limits the rates a supplier can charge for each unit of gas and electricity you use, will jump by £693 from £1,277 to £1,971.
Prepayment customers will be worse hit, with a jump of £708 from £1,309 to £2,017, and that's without the possibility of further hikes following the Russian invasion of Ukraine, with wholesale gas prices increasing 40% on the day of the invasion.
So it's pretty hard to escape the impending sense of doom, and the ultimate question of how on earth are we going to keep our house warm, and ourselves warm when we can't even afford to acknowledge these energy bill price rises let alone pay for them?
Many energy companies including Shell, EDF, British Gas and E.ON, have sent out letters and emails to UK householders this month, setting out price plans of their tariffs if they choose to stay and explaining the energy price hike.
Some are still waiting for that dreaded email but unfortunately I received mine this week which included details of
Martin Lewis has beckoned people to look closely at the fixed rates on offer as the cost of living crisis spirals. The energy price cap will rise to £1,971 a year for the average household this Friday (April 1).
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Martin Lewis has outlined three top tips concerning energy bills, as households get prepared for next month's price hike. Brits are set to see their energy bills soar from 1 April, when the Ofgem price cap will rise from £1,277 will go up to £1,971 – an increase of nearly £700. Most energy firms are increasing their standard tariffs to the maximum allowed by the cap, meaning millions of households will see their bills dramatically increase.
If you're paying your energy bills using a direct debit, then Martin Lewis is here with a warning ahead of the price hike.The Money Saving Expert founder has received a surged of questions from worried bill payers ahead of the price rise, which will see most bills rise by £693 from April 1. Martin, who donated £50,000 out of his own pocket after a This Morning phone-in, has been urging the government to do more to help people ahead of the rise, as well as providing a huge amount of advice for those in need. And he recent took to Twitter to address a question most have regarding their energy bills.
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The cost of gas and electricity bills is set to rise next month following Ofgem's energy price cap announcement. The energy regulator has revealed that the price cap will increase by 54%.
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Millions of households across Scotland and the rest of the UK are facing an even bigger increase in their fuel bills from next month following Ofgem's price cap announcement in February.
Martin Lewis has long been the person we all turn to when we need easy to follow advice on saving our pennies, and he's now warned us there are three things families must do now before next month's huge hike in energy bills. Households up and down the UK are set to feel the pinch and could face wallet-hurting rises of 54% as energy regulator Ofgem has confirmed it is increasing its price cap by £693, from £1,277 to £1,971, on 1 April.