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.
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