Martin Lewis warns people may have to choose between food and heating

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Money Saving Expert Martin Lewis has warned that households may face a “devastating” choice between food and heating as gas prices rise.

Money Saving Expert Martin Lewis has warned that households may face a “devastating” choice between food and heating as gas prices rise, saying that the cost of energy was increasing “in a way we have never seen before”.

It is expected that Brits will pay an extra £139 when the cap on the price of gas and electricity is raised next month.

Following the announcement of the rise, the wholesale price of gas has “exploded again” and Lewis claims that the cap could increase by over £200 on April 1.

Lewis said: “The situation is catastrophic, in a way we have never seen before. There will be many people making the devastating choice between heating and eating.

“The government is talking about intervening with energy companies, it needs to intervene with consumers as well.”

He advised that customers can choose to sign up for a new energy deal now for protection: “As I never thought I would say, one option is prices have gone up so much the price cap is now not a bad deal for the next six months and you get six months of protection.

“But you could bide your time and just go onto the price cap when your current deal finishes because it cannot go up until April 1.

“The second option is to try and lock into a one or two-year fixed rate. There are still a couple of tariffs out there where you can lock in for a year or two years at below what the price cap will be on October 1. They offer protection if things do not get better.”

He added: “Everybody needs to understand you will be paying more for your energy.

“This is not a question of saving money, this is a question of reducing the rise.”

Small energy suppliers had fears raised last week when firm People’s Energy collapsed.


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Written by

Laura Kemp

Originally from UK, Laura is based in Axarquia and is a writer for the Euro Weekly News covering news and features. Got a news story you want to share? Then get in touch at [email protected]

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