Martin Lewis issues new energy bill warning to every household ahead of change in April
Households can expect to see energy bills rise in April, according to a new warning from consumer champion, Martin Lewis. The financial guru took to social media this week to share ‘bad news’ with millions of households on the standard tariff - if you’re not on a fixed tariff then you’re automatically put onto the standard tariff, which is set by Ofgem’s price cap.
Posting on X, formerly Twitter, the founder of MoneySavingExpert.com said: “Bad news. The predictions for what'll happen to the energy price cap in April keep rising. EDF now predicted Ofgem will increase it by 3.3 per cent rise, British Gas predicts 5 per cent, E.ON Next predicts 5.7 per cent. We're only a couple of weeks from the end of the assessment period. So that means this is getting pretty firm. It’s now nearly unthinkable that it'll drop, it's going to rise, the big question is how much.”
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Following the recent predictions, E.ON Next is urging customers to check their energy bills to make sure they are on the most appropriate tariff for their circumstances ahead of the new price cap kicking in.
Ofgem will announce the new price cap, which will be in place until the end of June, on February 25.
Bad news. The predictions for what'll happen to the energy price cap in April keep rising. EDF now predicted Ofgem will increase it by 3.3% rise, British Gas predicts 5%, Eon Next predicts 5.7%.
We're only a couple of weeks from the end of the assessment period. So that means…— Martin Lewis (@MartinSLewis) February 3, 2025
Since January 1, the cost for a typical household using both gas and electricity has been £1,738 per year, under the price cap. But it’s important to remember if you use more, you’ll pay more and similarly, if you use less, then you’ll pay less.
The price cap relates to standard variable tariffs, with most suppliers able to offer cheaper rates on other energy tariffs.
E.ON Next is offering an innovative tracker tariff, Next Pledge, which tracks the cap to give households peace of mind their energy prices will stay below the cap - with the typical household saving £50.
Julian Lennertz, Chief Commercial Officer at E.ON Next, said: “The new forecasts suggesting another increase to the Energy Price Cap will be distressing to customers who may be struggling to pay their bills. It is important that households understand their options and pay attention to their current tariff - as there may be a product more suitable for their circumstances, such as our innovative Next Pledge tariff.”
Households looking to switch tariffs should be aware of any exit fees relating to their current tariff or supplier and take note of any conditions on tariffs they are considering, such as if a smart meter is required.
