The topic of energy prices and the cost of living continues to cause confusion and worry. Martin Lewis, however, was praised for an optimistic prediction on energy bills during his latest Money Show Live show.
The episode tackled the subject of energy bills as Ofgem confirmed the price cap will be reduced from April by £1,000 to £3,300 for someone on typical use. Despite this, energy bills are still set to rise as the Government is expected to lift the energy price guarantee. The Government has previously subsided energy bills, saying an average household would pay around £2,500 for their energy.
"I also have other sources that tell me prices are not going up. And since I did that, The Times has reported sources in Government saying prices are going up and the BBC has reported sources in Government saying prices are going up." Mr Shapps remained tight-lipped as he said the Government policy would be announced in Mr Hunt's Budget next week. But Martin said, based on information he has received, that he is now hopeful the Government will u-turn on its decision and energy bills will remain around the current price until July.