Martin Lewis issues ‘bad news’ ahead of new energy price cap starting next week
dailyrecord.co.ukEarlier this week Martin Lewis urged people to take meter readings before the new energy price cap starts on Monday, April 1 to ensure their next monthly bill will be accurate and in-line with the upcoming 12.3 per cent drop.
Annual costs are set to fall from £1,928 to £1,690 - a saving of £238 over the coming year. However, the financial guru has now shared some ‘bad news’ on social media, warning that the next price cap in July is not going to be as much as initially forecast.
Energy consultants Cornwall Insight said they expect the typical household's energy bill to be around £1,560 per year from July, rising further to £1,631 from October - around 7 per cent higher than the consultancy's previous forecast from around a month ago.
However, Martin added that “overall over the next year this means you'd pay on average 15 per cent less than the current price cap once you factor in seasonal usage”.
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