There is a 'better than 50/50 chance' the government will intervene to stop energy prices rising drastically in April, Martin Lewis has said
Money saving expert Mr Lewis has been pushing for the government not to increase Brits' energy bills by 20% in April by increasing the energy price guarantee.
Mr Lewis told LBC's Tonight with Andrew Marr on Monday: "From July, the prediction is from July the price cap will drop below the price guarantee so we’ll start to see prices drop.Addressing the government, Mr Lewis said: "Don’t do it! Protect people from getting the letters, protect people from inflation going up, it is a national act of mental health harm.
"I think it has to come before the budget as well. Because if you leave it to the budget, energy companies are obligated to write to people saying that their bills are going up 20%." Ofgem CEO Jonathan Brearley said: “Although wholesale prices have fallen, the price cap has not yet fallen below the planned level of the Energy Price Guarantee. This means, that on current policy, bills will rise again in April. I know that, for many households this news will be deeply concerning.”
“However, prices are unlikely to fall back to the level we saw before the energy crisis. Even with the extensive package of government support that is currently in place, this is a very tough time for many households across Britain.”
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