Earlier this week, Martin Lewis warned millions of households on typical usage, with a standard energy tariff, are facing a 64 per cent hike in bills from October following industry analysts’ new prediction that the Ofgem price cap will rise to £3,245.
Cornwall Insight also estimates that it will go up by a further £360 in January to £3,364. The founder of MoneySavingExpert.com is also warning that not having a new prime minister in place until September 5 is “too late” to prevent the “panic” that will arise as a result of the official confirmation from Ofgem of the October price cap, due to be announced in August.
He added that by then, direct debits will already be rising, not leaving ministers enough time to act. The price hike will undoubtedly put more financial pressure on households, especially the vulnerable, those on lower incomes and the thousands of employees now working from home on a permanent or hybrid basis.
However, Deyan Dimitrov, laundry expert and CEO of Laundryheap, may hace some simple solutions to help everyone save some money this summer and make some changes that could make a huge difference during the colder months.
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