Energy prices are expected to go up a substantial amount towards the end of the year – the Money Saving Expert CEO issues advice
Martin Lewis has issued a warning for energy customers, urging them to fix their bills now, before prices rise. The Money Saving Expert founder shared in his latest newsletter that despite the falling energy prices so far this year, the 'energy crisis is far from over'.
The energy price cap could rise as much as 10% In the newsletter distributed on Tuesday , Martin said: 'Sadly the energy price crisis is far from over. What is the energy price cap? The energy price cap is set four times a year by set by Ofgem, the energy regulator. This is a limit on how much suppliers can charge households for each unit of electricity or gas they use.
The price cap was first introduced by the energy regulator, Ofgem, in 2019 during the cost of living crisis. What does Martin Lewis recommend? Martin Lewis recommends considering fixing your energy bills before the new cap comes in on 1 October.
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