Martin Lewis explains ‘unprecedented’ energy bill change coming on April 1 – My London
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He also warned that energy bills could rise steeply later this year
Energy bills are expected to surge later in the year(Image: PixeloneStocker via Getty Images)
Need to know: Martin Lewis explains April energy bill cuts but warns of July price surge
Money expert Martin Lewis has revealed an unprecedented change to energy bills that will see costs cut from April, even for those on fixed tariffs.
Speaking on The Martin Lewis Money Show Live, Lewis explained that government policy changes will remove charges for energy schemes from bills. This will result in a 7-9 per cent reduction for existing fixed-rate customers, reports the Express.
However, Lewis warned that energy prices are set to rise significantly from July due to the ongoing conflict in Iran. The wholesale gas rate spike is already affecting fixed tariff prices, with suppliers pulling their cheapest deals.
Lewis told ITV1 viewers: “It means an unprecedented 7-9 per cent typical fall on existing fixes on April 1, you understand what I’m saying, not new fixes existing ones.”
Analysts Cornwall Insight forecast that Ofgem’s price cap for July to September could surge to £1,801 annually for typical households. This represents a £160 increase from April’s cap.
Lewis urgently advised customers still on the price cap to secure a fixed rate now. He warned on X, formerly Twitter, that many of the cheapest fixes could be “gone by this time tomorrow” as firms reassess their pricing.
The money expert emphasised that customers can still lock in rates around 14 per cent less than the current price cap, providing both savings and peace of mind against future rises.
Read more: Martin Lewis shares urgent energy price warning amid Iran war – act today
