Martin Lewis has issued a two-month warning to UK households urging everyone to make a vital check before another energy bills price hike in October.
The Money Saving Expert founder shared the message ahead of a further increase in energy bills expected this winter.
With three months to go until the new price hike, Mr Lewis has told households to start budgeting for the new price now.
He said: "If your direct debit goes up in advance, it's actually not the worst thing because it will help spread the cost even though you might not like it.
"It's going to be horrendous and I hope that when a new Prime Minister comes in place, the current sort of freeze on policy making ends on that day, on September 5."
He added: "What's likely to happen if you're on the price cap, if you're paying £100 a month now, it'll be £165 in October.
"If you're paying £200 a month now, it'll be £330 in October on average. That's the scale."
Martin Lewis ‘feels sick’ ahead of October price hike
NEWS:
— Martin Lewis (@MartinSLewis) July 8, 2022
I feel sick writing this!
I've just got the latest price cap predictions from @CornwallInsight. A huge spike in the key year-ahead wholesale price means
OCT cap prediction UP 64% (so £3,244/yr on typical bills)
JAN cap prediction UP 4% (so £3,363/yr)
/contd
It comes after the cash-saving guru revealed he “feels sick” after sharing the latest predictions for energy prices later this year.
“I feel sick writing this,” the Mr Lewis warned.
He continued: I've just got the latest price cap predictions from @CornwallInsight. A huge spike in the key year-ahead wholesale price means…
“OCT cap prediction UP 64% (so £3,244/yr on typical bills).
“JAN cap prediction UP 4% (so £3,363/yr).
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