Martin Lewis has shared how much households face paying for energy later this year as the cost of living crisis deepens.
Latest predictions from analysts at Cornwall Insight suggest the price cap could rise to £3,244 from October - up from the £3,003 figure estimated just two weeks ago.The price cap sets a limit on the rates a supplier can charge for each unit of gas and electricity you use. It is currently set at £1,971 and covers 22 million households., he said: “I feel sick writing this!
“It’s horrendous. Especially as we’re now near the end of the assessment period that sets Oct’s cap, so this is the right ballpark.”mooted in May & that was what Sunak based the £400-£1,200/yr help on. More will be needed!Mr Lewis explained that the planned increases means families currently paying £100 a month for energy will be set back £165 from October and £170 from January.
Dr Craig Lowrey, principal consultant at Cornwall Insight, previously said:"There is always some hope the market will stabilise and retreat in time for the setting of the January [price] cap.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'Warm banks' on way as Martin Lewis warns of 'cataclysmic' price rises'Warm banks' coming to Lancashire as Martin Lewis warns of 'cataclysmic' energy price rises
Read more »
Martin Lewis shares Zara holiday hack that could cover the cost of your flightAnyone who is going to Spain and is planning on buying clothes from Zara in the UK should 'stop right now' according to Martin Lewis, as the money-saving hack could cover the cost of your flight abroad.
Read more »
Martin Lewis shares new energy fix 'magic number' to help beat £3,245 price capCornwall Insights predicts a 64% hike on Ofgem’s current cap of £1,971 in just 11 weeks time.
Read more »
You can now get your tweakments including filler and Botox at John LewisJohn Lewis has teamed up with The Cavendish Clinic to provide cosmetic tweakments, including aesthetic treatments and facials, at six of its department stores across the UK
Read more »
John Lewis shoppers 'love' £12 handheld fan that's a 'godsend'The £12 John Lewis handheld fan is described as 'surprisingly powerful' for its size and 'quiet' too. Perfect for the heatwave 🥵 aff
Read more »
Brentford complete £16m club-record signing of Keane Lewis-Potter from Hull'I am pleased that we have managed to sign one of the biggest young talents in the Championship,' says Brentford boss Thomas Frank.
Read more »