Martin Lewis has announced he is taking a break from work and social media, saying he needs to "recharge his batteries".
The finance guru has been on hand to help people across the country through the cost of living crisis. But now Martin is taking a well-earned holiday to spend time with his family.
Updating his followers on Twitter and Instagram, Martin said: "And then there was quiet. For a few weeks, I'm going off social to focus on being a dad, a husband and to recharge m'batteries.
READ MORE: Ofgem confirms huge price cap change affecting all energy bills
"So I'm on form to help when the awful winter bills hit people. I'll be back for the day the new price cap's announced. Take care. Enjoy August's warmth!"
In his MoneySavingExpert newsletter, Martin confirmed his team would be in charge of the site over the coming weeks. He said: "The site and email will continue to flourish in the overly capable hands of the MSE team. Ta-ta."
Martin's absence comes as Ofgem warned of a "very challenging winter ahead". Energy customers are likely to see significant bill increases every three months rather than half-yearly following a change to the price cap.
The regulator said the change will provide some stability for the market following Russia's actions in Ukraine leading to ongoing volatility, adding it is "not in anyone's interests for more suppliers to fail and exit the market".
The price cap was introduced in 2019 and designed to change twice a year. It changes in April, to cover the summer months when people tend to use less energy, and again in October before an expected increase in usage.
The next change will be announced at the end of this month and take effect in October. Ofgem chief executive Jonathan Brearley suggested in May it is likely to soar to "the region of £2,800" for an average household, but he has since warned of a significant increase over and above the estimate made in May. "That just shows you how dramatically the market is changing," he said.
Ofgem has now confirmed it will update the price cap quarterly because the market is moving so quickly and it is not sustainable for people to pay a rate up to six months old.
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