Martin Lewis has urged every UK household to start budgeting ahead of the energy price cap rising again this October.
The energy price cap is currently £1,971 a year for those on a default tariff who pay by direct debit - but experts are predicting another eye-watering increase in just two months.
Latest predictions from analysts at Cornwall Insight suggest the price cap could hit £3,244 from October - up from the £3,003 figure they estimated last month.
It is then predicted that the price cap could reach £3,363 from January.
The price cap sets a limit on the rates a supplier can charge for each unit of gas and electricity you use - it isn’t a total cap on your energy bill, despite what the name suggests.
Are you worried about your energy bills this winter? Let us know: mirror.money.saving@mirror.co.uk
In a question and answer session on Facebook yesterday afternoon, Martin urged families to be prepared for huge price hikes.
The MoneySavingExpert founder said: “Start budgeting now for the rise coming in October.
“If your direct debit goes up in advance, it's actually not the worst thing because it will help spread the cost even though you might not like it.
“It is going to be horrendous."
Martin added: "What's likely to happen if you're on the price cap, if you're paying £100 a month now, it'll be £165 in October.
"If you're paying £200 a month now, it'll be £330 in October on average. That's the scale."
How to get help with your energy bills
If you're struggling to pay your energy bill, the first step is to speak to your supplier as soon as possible to see what help they can offer you.
For example, they may be able to put you on a payment plan or try to find a way to lower your bill.
It is worth checking with them if you’re being billed the right amount - particularly if you think you’re being overcharged - or if there is a lower tariff you could be moved to.
All the big energy firms also have charitable hardship funds and grants that you may be eligible for if you’re struggling.
For example, the British Gas Energy Trust can be accessed by anyone - not just its customers - providing you meet the eligibility criteria.
If you’re over the state pension age, you may be eligible for the Winter Fuel Payment scheme, worth between £100 and £300 during the winter months.
The Government is also giving all people in receipt of this benefit an extra £300 this winter as a one-off cost of living payment.
The Warm Home Discount scheme, which is a one-off payment of £150 distributed by energy suppliers, will open again this winter for vulnerable households.
This will be available to those who get the Guarantee Credit portion of Pension Credit and people on certain means-tested benefits who have high energy costs.
Meanwhile, every household in the UK that is in charge of paying its own energy bill will also get £400 off their bill from October.
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