麻豆社

Consumer finance expert Martin Lewis explains to 麻豆社 5 Live鈥檚 Nihal Arthanayake what the energy price cap means and how it will affect our energy bills.

鈥淩emember, there is no such thing as the maximum you can pay, the price cap isn鈥檛 a price cap, it is a change to the unit rates of energy,鈥� says Martin.

鈥淐urrently, the price cap is 拢1,277, on 1 April 2022 it will be going up to 拢1,971鈥�, Martin continues.

The price cap currently lasts for six months.

鈥淵ou will have heard in the news鈥�that it could go up to 拢3,000 in October, that is not implausible, but those numbers have been done based on the high one-day spikes we are seeing right now,鈥� says Martin.

Martin uses current analysis 鈥渂ased on a spread over a month鈥� to explain his predictions.

This content is originally from Nihal Arthanayake on 2 March 2022.