Martin Lewis has issued a warning to all UK householders over increases to their gas and electricity bills, due to an energy price cap announcement on Friday, February 5.
The consumer champion explained to viewers on The Martin Lewis Money Show Live how higher wholesale costs mean households on standard tariffs, paying by direct debit are likely to pay more for their energy in 2021.
The new cap will start on April 1 and will last for six months. Energy regulator, Ofgem, sets the limit in a bid to cut the price a supplier can charge per unit of electricity and gas.
As a result, Martin said the big energy firms are likely to start raising their bills. The founder of MoneySavingExpert.com explained: "They call it a price cap, in reality it.
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