Energy regulators Ofgem this morning announced yet another worrying price hike.
From October, the cap on energy bills will rise by 80% up from the current figure of £1,971 to £3,549 per year - nearly 10% of the average UK worker's salary.
This is if you are paying by direct debit on a default tariff.
For those paying by prepayment meter the jump is to an even bigger figure, from £2,017 to £3,608.
This will particularly hit vulnerable households or those already struggling to pay their energy.
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Standard credit customers - so where you pay once you've received your bill - will see their price cap rise from £2,100 to a staggering £3,764, working out as the most expensive way of paying.
Direct debit is the cheapest way of paying your bills - this is because suppliers provide a discount for people paying this way as it works out as lower costs and administration for them to sort.
It is also advised that you submit meter readings the day before the new energy price cap comes into effect in October.
This is so you can lower your chance of being overcharged on the higher rates, for the days before they come into place.
You can find out more on how to do this here.
Martin has called the latest cap on bills as "staggering" and a "catastrophe", warning "lives will be lost" if the incoming Prime Minister does not urgently take action next month.
Lost for words this morning, he told BBC presenters he had "no answer" for what more households could do.
“If you are really struggling, it is very difficult for you to be disconnected these days if you can’t pay,” he told Breakfast presenter Charlie Stayt.
“They might move you, if you’re not already on to a prepayment metre – and there is some emergency help on prepayment meters.
“Some people are going to have massive help problems because they don’t have heating in their home. There are people voluntarily disconnecting.
“I said - I think six months ago, maybe a little less - that I was out of tools to help the most vulnerable with energy, and Government help is needed.”
Why are bills going up?
At least half your energy bill covers wholesale costs – this is the actual cost of gas, oil or whatever is used to power our homes.
As countries have emerged from Covid lockdowns and the worst of the crisis over recent months, prices everywhere have shot up as demand for energy soared.
But these surged astronomically following Putin's invasion of Ukraine, as much of our oil comes from Russia.
Fears over whether Russia will turn off the taps have sent gas prices through the roof.
You can see more answers to questions about rising energy bills here.
