Martin Lewis has provided clarification on what the postponement to the Energy Price Guarantee (EPG) rise means for customers.
Chancellor Jeremy Hunt announced during his Spring Budget that the proposed 20 per cent rise to the EPG would be postponed for three months until June 2023. It means that the maximum amount an average household will spend on their energy bills will remain at £2,500.
The money-saving expert has been one of the chief campaigners to stop the rise in the EPG over the past few months. However, he warned that while the EPG won't rise, it doesn't mean a complete saving on your energy bills due to one other support package being left behind at the end of this month.
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Mr Lewis said: "It means in April they will stay roughly flat, although I'll detail the exact changes on that in a moment. But it is worth remembering at the same time as that was due to up, we lose the winter bill support - that's the £400 paid at £66/£67 a month to subsidise either giving you cash or off your bill or as a voucher to reduce what you pay.
The winter bill support scheme will end from the beginning of April, which means the government will no longer provide discounts to people's energy bills through this support package. Mr Lewis continues: "And that goes in April. So in practice, you will still pay more, just not as much more as you were paying.
"And especially for those with lower usage where that £66/£67 was a disproportionate boost. Because if you're a lower user it had a bigger effect. This is going to feel a big loss when you come to April, so you still have to be planning that you're going to need to get that money for that £66/£67 a month increase."
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