It already is the awful reality for some families
Households can expect to take a “seismic” hit to their energy bills which could force some to decide whether to eat or heat their homes, according to Martin Lewis.“The energy price crisis needs substantial intervention from the Government.
According to Cornwall Insights, an energy sector specialist, bills could rise from £1,277 a year under the current price cap to £1,865 a year when the next revision is announced, a rise of 46%. “The Government didn’t intervene early enough so we’re all paying for the market collapses we’re seeing.”Several firms went bust in 2021, with customers at other energy firms picking up the tab for the collapses, whilst the Government also took over the running of Bulb after it failed last November.
Mr Lewis added that there needs to be greater protection for the most vulnerable, who may not be able to shop around for the best deals, or may be stuck on more expensive pre-payment options.He said: “What’s coming in April is a seismic hit for fuel bills which is going to be astronomical.
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