‘Walking into disaster,’ Martin Lewis exclaims, ‘there’s no price cap!’

0

‘Walking into disaster,’ Martin Lewis exclaims, ‘there is no price cap!’

MARTIN Lewis sounded the alarm, warning that the UK is “walking into a catastrophe” unless energy prices are capped.

Martin Lewis warned that the cap could rise by as much as 51%, putting thousands of Britons on the hook for up to £1,925 in annual energy bills.

Mr Lewis insisted that the government still has “a window” to intervene and prevent the “catastrophe” that he claims the UK is about to face.

“It’s just going to be very, very hard,” the money expert told Lorraine Kelly on her daily show.

“I have to be careful not to sound too political, but I believe political intervention is absolutely necessary, or we’re on the verge of a disaster, where it is not an exaggeration to say that people across the country will have to choose between heating and eating come April.”

“And that price cap, which isn’t actually a price cap; it’s a rate cap – there’s no maximum amount you can pay.”

“People frequently use the number 1277, £1,277, as the cap for someone with typical usage; however, if you use more, you’ll be higher; if you use less, you’ll be lower.”

“However, just to help people, we’ll take that number.”

On April 1, the price cap is expected to increase by 51%, meaning people will pay half as much as they do now.

So, for someone with typical bills, that means £1,277 now, £1,925 from April 1, a £600 increase.”

“I remember last June when I was presenting GMB to the energy minister and saying there was going to be a crisis and just getting brushed off,” he continued.

“What you need to understand is that the position we’re in right now is that we have a pretty good idea of what’s going to happen on April 1st.”

“It’s all about the price ceiling.”

61 percent of homes in England, Scotland, and Wales have an energy price cap.

“You’ll be on it if you’ve never switched tariffs, or if your fixed deal is coming to an end and you haven’t done anything else – which most people can’t do now because there aren’t any cheap tariffs out there, so most people are coming out of their fixes and onto the price cap.”

“You’ll do it.

“Brinkwire News in Condensed Form.”

Share.

Comments are closed.