Martin Lewis shares horrendous average energy price of £4266 per year by January

Taking to social media the Money Saving Expert Martin Lewis shared the ‘Tragic News’ regarding Cornwall Insights energy price predictions. The post which you can read below shows just how hard people will be hit as the price is set to jump massively once again.

‘The latest @CornwallInsight prediction, based on Ofgem’s new methodology, is an 81% price cap rise in Oct (taking typical bill to £3,582/yr) and a further 19% in Jan (so £4,266/yr). That will leave energy prices far more than double what they are today.

Action & planning is needed now. The zombie govt needs wake up sooner than 5 Sept.

These amounts are unaffordable for millions. The Jan figure equates to 45% of the full new state pension, and a higher proportion of the old one.

The rise alone on the Jan prediction, from when the help was first announced in May, is roughly £1,400/yr.

That rise swallows up not just the £400 help for all homes,but even the £1,200 for the poorest.

This will leave many destitute. Tax cuts won’t help poorest incl many elderly & disabled who’ve higher usage.

Cutting the green levy’d be just tiny sticking plaster on a gaping wound.

The leadership debate must not ignore this portentous national cataclysm any more.

-They can’t say they weren’t warned

-The excuse “we need to wait for Ofgem figure” doesn’t wash. In May govt asked Ofgem for forward guidance & made plans based on that. It can do the same now.

An action plan is needed TODAY

They are all in the same party, let’s call on them to come together for the good of the nation rather than personal point scoring.

People’s livliehoods, mental wellbeing & in some cases their very lives depend on this.

This is desperate.’