MARTIN Lewis has warned that the price of energy bills is expected to rise in April – warning that the “big question” is by how much.
The Money Saving Expert founder said the Ofgem energy price cap is predicted to rise as much as 5.7% in April.
Ofgem, which is an independent energy regulator, changes the price cap for UK households every three months, largely based on the cost of energy on wholesale markets.
The cap does not set the maximum a household will pay for their energy but limits the amount providers can charge them per unit of gas or electricity – meaning those who use more energy will pay more.
Ofgem will change the cap in April, with Lewis saying that it is “nearly unthinkable” that prices will drop.
Early predictions by the energy regulator believed the cap could rise by around 3%.
However, in a post on social media the money saving expert said some of the industry’s biggest suppliers are expecting it to be around 5%.
Bad news. The predictions for what'll happen to the energy price cap in April keep rising. EDF now predicted Ofgem will increase it by 3.3% rise, British Gas predicts 5%, Eon Next predicts 5.7%. We're only a couple of weeks from the end of the assessment period. So that means…
— Martin Lewis (@MartinSLewis) February 3, 2025
Lewis said in a post on X/Twitter: “Bad news. The predictions for what'll happen to the energy price cap in April keep rising. EDF now predicted Ofgem will increase it by 3.3% rise, British Gas predicts 5%, Eon Next predicts 5.7%.
“We're only a couple of weeks from the end of the assessment period. So that means this is getting pretty firm. It's now nearly unthinkable that it'll drop, it's going to rise, the big question is how much.”
The price cap for a typical dual-fuel household is £1738 per year and is in place until March 31.
If the price cap is to rise by 5%, as British Gas and Eon Next predict, it would rise by £86 to a total of £1824.
