Martin Lewis has warned that energy prices are projected to increase in April, with the Ofgem Energy Price Cap expected to rise by figures between 3.3% and 5.7%. This adjustment, influenced by wholesale market costs, is set to become effective soon, indicating that a decrease is almost impossible. Additionally, households in England and Wales will face an average 26% increase in their water bills, highlighting broader trends in rising household costs.
The predictions for what'll happen to the energy price cap in April keep rising. EDF now predicted Ofgem will increase it by 3.3%, British Gas predicts 5%, Eon Next predicts 5.7%. We're only a couple of weeks from the end of the assessment period.
It is now nearly unthinkable that it'll drop; it is going to rise, the big question is by how much.
Households in England and Wales will see an average 123 or 26% increase to their yearly water bill from April 1.
The cap limits the amount providers can charge them per unit of gas or electricity, so those who use more energy will pay more.
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