Martin Lewis' MSE's urgent £3,600 payment warning to everyone in the UK
manchestereveningnews.co.ukMartin Lewis' website Money Saving Expert has shared a bleak warning to all bill-paying adults. The Money Saving Expert website says people need to brace themselves for yet another financial hit.
The warning comes after experts predicted an even sharper rise to the energy price cap in October. Yesterday Energy consultant Cornwall Insight said the average gas and electricity bill in England, Wales and Scotland could reach as high as £3,615 by the new year - this is hundreds of pounds higher than previous predictions.
Speaking to BBC Breakfast, the company said that the average bill could reach as high as £3,358 from October and £3,615 from January.
Cornwall Insight's principle consultant, Craig Lowrey, told the programme: "However, while the rise in forecasts for October and January is a pressing concern, it is not only the level – but the duration – of the rises that makes these new forecasts so devastating,” he told the programme. READ MORE: Warning that energy bills could hit £3,615 this winter “Given the current level of the wholesale price, this level of household energy bills currently shows little sign of abating into 2024.” He added: "While the Government has pledged some support for October’s energy rise, our cap forecast has increased by over £500 since the funding was proposed, and the truth is the £400 pledged will only scratch the surface of this problem.” MoneySavingExpert has warned of the £3,358 increase, and has flagged some deals that are cheaper than the predicted October price cap.
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