Martin Lewis has been thanked by grateful fans after the Government announced the energy price guarantee (EPG) will remain in place until June.
The announcement was made on Wednesday ahead of Chancellor Jeremy Hunt‘s Spring Budget.
The measure will save millions of families £160 on their gas and electric bills, according to the Treasury.
Fans of Money Saving Expert Martin Lewis have now thanked him on social media for his efforts to highlight the impact the rise would have on families and households.
Responding to a post in which Mr Lewis announced the news, Simon Oliver wrote: “Absolutely fantastic news Martin - due to your continued work millions maybe able to survive the spring without going further into debt or below the poverty line. Legend.”
Leanne Sewell added: “Thanks for all your hard work advocating for the most vunerable. Awesome!”
Bob Luck wrote: “Well done sir. You are a fine example of how we should all question the government workings and how they affect our lives. Your observations and advice are to be applauded. Thank you.”
CONFIRMED: The Energy Price Guarantee 20% rise has been postponed from April to July - meaning in practice it's cancelled. Exactly what my letter (below) to Chancellor asked for. Thanks to the govt for listening & to the 135 charities backing the campaign
— Martin Lewis (@MartinSLewis) March 15, 2023
Video explainer to come pic.twitter.com/093u4e6MSd
Others were quick to point out that despite the move, many households will soon be worse off when the government’s winter energy support stops in April - bringing an end to the scheme that has seen every household receive around £67-a-month in contribution to their bills.
Michael Crowther responded to Mr Lewis: “Yes, well done for this. But I wish you would also point out that people like me will be £67 a month worse off. My finances will get considerably worse.”
Meanwhile another Twitter user, named only as Dave F, wrote: “People may still be unaware, however, that their bills are going to effectively go up by £67 per month from April as the government payments to households stop, which seems to get overlooked in a lot of the coverage.”
Mr Hunt made the announcement that the EPG will not rise in April as planned after the cost of gas fell sharply, ahead of his 2023 Budget which is due to be delivered to MPs in the Commons about 12.30pm.
It means average bills will be capped at £2,500 a month until June, rather than increasing to £3,000 next month as planned.
The Treasury U-turn is expected to cost the Government around £3billion.
The Chancellor’s “Budget for growth” is also expected to include announcements on childcare, benefits reform and pensions allowances.
Read our full live coverage of the Budget announcement here.
