Martin Lewis has updated us with his latest news on the energy price cap.
Mr Lewis has told us that there is a confirmed 7% Price Cap drop coming on 1st July.
The following details are what is to follow the initial drop.
Martin Lewis posted to X:
Not great news. The Energy Price Cap now predicted to RISE about 2% or 3% in October.
The latest predictions from Eon, British Gas & EDF have just come out. All are up on a week ago when it was predicted Oct would stay roughly the same as now (we're now 1/3 of the way through the Oct Cap assessment period).
Much of this is on the back of the rise in energy wholesale prices due to the conflict in the Middle East.
Current predictions range
- Up 1.6%-2.8% Oct
- Up c.1% on top of that in Jan
- Up c.3% on top of that next April
Though the further out you go the more crystal ball gazing it is.
https://twitter.com/MartinSLewis/status/1934931617371361788
