![Pinterest](https://pinterest.com/pin/create/button/?url=https://uknews.evprotec.com/martin-lewis-issues-energy-bills-rise-update/&media=https://uknews.evprotec.com/wp-content/uploads/2022/11/crop-20346571.jpg&description=MARTIN Lewis has explained the latest predictions for energy bills from next year. The Money Saving Expert this morning told his followers on Twitter that a typical yearly bill will cost £3,702 from April 2023. Martin Lewis has issued an update on energy bills risesCredit: PA It comes as fresh forecasts by energy analysts at Cornwall Insight predict that the average consumer will pay over £600 less than was predicted last month. Cornwall Insight's April to June 2023 figures released on October 17 predicted the price cap to be £4,347.69. But the new figure is still well above the £2,500 current price cap. Martin described the updated predictions as "bad and good news". He said: "It's early days but Cornwall Insight's latest prediction for the April price cap (which returns then unless govt changes rules) is a 48% rise; taking a (meaningless but illustrative) typical bill to £3,700/yr from £2,500. "Yet it's less than the 72% predicted before." The new figures will still see the average household paying £1,202 more than the Energy Price Guarantee (EPG) that is in place at the moment. Energy bills were initially set to be frozen at £2,500 for the typical household for two years. The two-year price freeze on bills would have saved households £1,000 a year. In mid-October, Chancellor Jeremy Hunt announced that the guarantee will only last until April. The emergency measures came into place on October 1 to help with soaring bills as the cost of living worsens. It applies to customers on standard variable tariffs. It sees the Government limit the price suppliers can charge customers for units of gas, and replaced the price cap set by regulator Ofgem. Further predictions from Cornwall Insights show that prices for January to March next year will remain high. While domestic consumers will be shielded from the increase by the Energy Price Guarantee, the rise in prices will see higher costs for the government as they make up the difference with suppliers. The forecast per unit){kind=link}
MARTIN Lewis has explained the latest predictions for energy bills from next year.
The Money Saving Expert this morning told his followers on Twitter that a typical yearly bill will cost £3,702 from April 2023.
It comes as fresh forecasts by energy analysts at Cornwall Insight predict that the average consumer will pay over £600 less than was predicted last month.
Cornwall Insight’s April to June 2023 figures released on October 17 predicted the price cap to be £4,347.69.
But the new figure is still well above the £2,500 current price cap.