Martin Lewis has warned ‘people will die’ amid confirmation of the Ofgem energy cap rise to £3,549.
The financial journalist told his followers on Twitter this morning more help is needed ahead of further likely hikes.
Martin also noted when speaking on Radio 4 that the £3,549 figure is an average for those on direct debit.
Those with higher than average energy use will pay more, as will those on pre-payment meters.
Martin Lewis tweets about energy price cap
Addressing his 1.6million Twitter followers today (Friday August 26), Martin rebuked those who accused him of assuming the worst will happen.
However, Martin focused on the most important issue facing millions in the UK.
He insisted intervention is needed for the poorest and most vulnerable to ensure they survive the winter months.
Martin tweeted: “I’ve been accused of catastrophising about the energy hikes that have now come true.
“Yet let me be plain, ‘doom-mongering’ or not.
“More help is desperately needed for poorest or people will die this winter due to unaffordability of an 80% SO FAR energy price cap hike.”
I’ve been accused of catastrophising about the energy hikes that have now come true.
Yet let me be plain, ‘doom-mongering’ or not.
More help is desperately needed for poorest or people will die this winter due to unaffordability of an 80% SO FAR energy price cap hike.
— Martin Lewis (@MartinSLewis) August 26, 2022
‘Lives will be lost this winter’
Speaking on Today on Radio 4, Martin also explained the new price cap is 37% of the new state pension. Furthermore, it is an even bigger proportion for those who retired early and for those on universal credit.
He said: “This is a catastrophe, plain and simple. Unaffordable.”
Martin went on: “If we do not get further government intervention, on top of what was announced in May, then lives will be lost this winter.
This is a catastrophe, plain and simple. Unaffordable.
“Too many people to think about, because of these unaffordable, terrible, rises in energy bills.”
Martin also highlighted how the cap figure is an average for those on direct debit. And so those with higher than average energy use and those on pre-payment meters will pay more.
He fears there will be households – with adults or childen with disabilities, for example – requiring special electrical equipment who could pay up to £10,000.
Martin added: “We are in an absolutely horrendous situation, and it is going to get even worse in January when the cap for somebody on typical use will move up to over £4,000.”
Boris Johnson on energy cap and bills
Earlier this week the PM said UK households must endure high energy bills as part of efforts to resist Putin.
Boris Johnson announced a new package of support in Ukraine as he met with President Volodymyr Zelenskyy.
In his final visit before leaving Downing Street, the Prime Minister said: “If we’re paying in our energy bills for the evils of Vladimir Putin, the people of Ukraine are paying in their blood.”
Read more: Martin Lewis announces huge new GMB job to ‘hold power to account’
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