MARTIN LEWIS has called for action after experts warned energy bills could reach £4,200 this winter.
The MoneySavingExpert founder has urged the government to take action over fears the price rise could leave people “destitute”.
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He tweeted: “Action and planning is needed now. The zombie government needs wake up sooner than September 5 – these amounts are unaffordable for millions.”
The consumer champion said the political fallout following Boris Johnson’s resignation isn’t helping the “tragic” situation.
He added: “The leadership debate must not ignore this portentous national cataclysm any more.
“People’s livelihoods, mental wellbeing and in some cases very lives depend on this. This is a desperate.”
He previously warned Tory leadership candidates Liz Truss and Rishi Sunak that they face a “financial time bomb” over energy bills when the new PM takes office in September.
Martin’s new warning comes after Cornwall Insight said that bills are set to soar to around £3,582 in October, from £1,971 today, before rising even further in the New Year.
Ofgem is set to put the price cap at £4,266 for the average household in the three months from the beginning of January.
The energy consultancy said that this was around £650 more than its previous forecast.
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Ofgem last week announced changes to how it will calculate the price cap on energy bills going forward.
The energy regulator reviews the energy price cap – which limits how much suppliers can charge customers – every six months.
But this week it announced it will now be reviewed twice as often, meaning bills are likely to soar not just two times, but four times, a year now.
Part of the increase in the forecast is also due to rising wholesale energy prices, experts said.
Earlier this month, Martin Lewis said there will be “exponential problems” if people stop paying their bills and the government doesn’t get a handle on the situation.
He made the comment when asked on ITV’s Peston show about a growing campaign calling for energy customers to stop paying their bills.
The “Don’t Pay” campaign is calling on households to stop paying bills as suppliers post record profits while an energy crisis continues.
But charities have warned households that there could be “serious consequences” if they stop paying bills.
For example, your supplier could appoint a debt collector to chase your money down.
Or a warrant could be granted which could allow your supplier to enter your home and fit a pre-payment card meter.
What help can I get to help me with my energy bills?
Unfortunately, there isn’t a lot you can do to escape the rising energy prices.
As the cost of living and inflation rises, everyone is going to be affected.
However, help is available through various schemes and funds.
British Gas have a hardship fund which may mean you could loan up to £1,500 free cash towards your bills.
If you have a pre-payment meter, you could receive a one off fuel voucher. You’ll need to contact your supplier directly to see what’s being offered and whether you could be eligible.
The Household Support Fund will also help support families during the cost of living crisis, which provides you with cash to pay your bills or food costs.
Former chancellor Rishi Sunak revealed earlier this year that every household would receive a £400 discount towards their energy bills.
Pensioners are also able to receive an extra £300 in November or December.
If you’re struggling with your bills these organisations are here to help:
