Martin Lewis gives major update on chances of energy bills NOT going up in April – and it could save millions money | The Sun

MARTIN Lewis has issued an update on whether he thinks energy bills will rise in April.

Speaking on BBC Radio Four's Today programme this morning, he said there's a "better than 50% chance" of bills NOT rising to £3,000 in April.

The Energy Price Guarantee, which is currently set at £2,500, is set to rise by £500 in April.

It determines how much the average household pays for energy bills.

But consumer champion Martin Lewis has said there's an 85% chance the government will extend the help, so that the cap remains at £2,500 in April.

Chancellor Jeremy Hunt previously said this will not happen.

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Speaking on the radio this morning, Mr Lewis said: "I wouldn't say it's a done deal. I was saying in the office I think it's a better than 50% chance."

Other reports have suggested that energy firms are already preparing to amend bills, as they expect the support to continue.

It's understood the support will continue for an extra three months, until wholesale prices have fallen, The Times reports.

What is happening to energy bills?

At the moment, household bills are protected by the energy price guarantee which is £2,500 a year on average.

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In April it is due to rise to £3,000.

Households have also been benefiting from a £400 energy rebate, which has been applied to energy bills in six instalments.

The last payment is being made this month, meaning bills will rise by £67 a month at the same time as the energy price guarantee goes up.

However, wholesale energy costs are falling.

Earlier this week, Ofgem revealed that the energy price cap will fall to £3,280 a year from £4,279 a year in April due to a drop in wholesale costs.

The price cap was introduced in January 2019 to help protect households from bill rises and it currently changes every three months.

However, it was temporarily replaced by the energy price guarantee in October 2022, as the government wanted to protect households from catastrophic rises in bills.

The energy price guarantee will exist as long as it is more than the price cap.

Wholesale costs are still falling and it's been predicted that the cap will fall to £2,100 in July.

That's why Mr Lewis and charities have been calling on the government to postpone the EPG rise in April as they argue households can't afford the rise due to the on-going cost of living crisis.

If the support does continue the government will have to spend than previously planned support households.

What help is available now?

Millions are currently receiving a £400 energy rebate in six instalments starting from October last year, but the final payment worth £67 will be made this month.

At the moment all households with a domestic electricity meter or direct relationship with their provider receive the discount.

Martin Lewis' has unveiled a new calculator that can give you an estimation of what your bills might go up to from next month.

The Alternative Fuel Payment is another way struggling households can get help.

People on a direct debit should have had the cash into their account and those paying by standard credit should have had £200 added to their energy account.

Customers on prepayment meters should have had a voucher for the money by text, email or post.

Around 900,000 households can apply, including people who live in houseboats or have a communal electricity supply.

The government's online portal is now open.

Millions of households started receiving a £400 energy bill discount from October 1.

Households will have already received a £66 and £67 payment every month.

There will also be a payment worth £67 in March.

And don't forget between November 2022 and March 2023, a £300 one-off "Pensioner Cost of Living Payment" is being paid out to eight million households.

It is being given to those who already get the winter fuel payment – which is worth between £100 and £300 for those over state pension age.

There are also loads of schemes your energy supplier could provide, with some granting as much as £1,500.

British Gas, E.ON, Octopus and Ovo all offer grants worth hundreds of pounds.

But don't worry if you don't know who your supplier is – you can use Ofgem's supplier search tool on its website.

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Alternatively, just ask your supplier directly what funding is available.

We also did a roundup of energy suppliers offering free credit to hard-up households – read our guide here.

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