Martin Lewis warns ‘people could die’ as energy price cap soars 80%

Martin Lewis has hit out at the ‘hideous’ energy price cap increase forecasted for October, warning ‘people could die’ if the government don’t intervene.

This morning, Ofgem announced that the energy price cap will increase by 80% from October 1st, hiking the average annual energy bill from £1,971 to £3,549.

The Money Saving Expert founder responded to the news on Twitter, where he urged the government to do more to help vulnerable people this winter.

He wrote: “I’ve been accused of catastrophising [sic] 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 per cent so far energy price cap hike.”

He added that the situation is a ‘genuine social and financial catastrophe that is putting lives at risk’.

Read More: Ofgem boss issues warning to people planning energy bill boycott

Lewis explained: “The figure that’s quoted, the £3,549, is what the cap would be for someone who has typical usage – of course, most people don’t have typical usage, they’re more or less. That means there is no maximum amount that you can pay for gas or electricity.

“You could easily be paying £5,000 or £10,000 a year if you have high usage.

“I worry terribly for some of those who have disabled children or disabilities themselves who need lots of electrical equipment to keep their houses warm because of medical conditions.”

Ofgem has said the increase reflects the continued rise in global wholesale gas prices, which began to surge in the wake of the Covid pandemic, and had been driven still higher to record levels by Russia restricting gas supplies to Europe.

The regulator’s chief executive Jonathan Brearley urged the incoming Prime Minister and new Cabinet ‘to provide an additional and urgent response to continued surging energy prices’.

He said: “We know the massive impact this price cap increase will have on households across Britain and the difficult decisions consumers will now have to make. I talk to customers regularly and I know that today’s news will be very worrying for many.

“The Government support package is delivering help right now, but it’s clear the new Prime Minister will need to act further to tackle the impact of the price rises that are coming in October and next year.

“We are working with ministers, consumer groups and industry on a set of options for the incoming Prime Minister that will require urgent action. The response will need to match the scale of the crisis we have before us.

“With the right support in place and with regulator, Government, industry and consumers working together, we can find a way through this.”