Martin Lewis: Money Saving Expert predicts Rishi Sunak will cancel planned energy bill increase

Currently, the government Energy Price Guarantee has capped bills at £2,500, but this is due to rise to £3,000 in April despite Ofgem lowering the energy price cap. Due to the fall in the price of energy, Martin Lewis is now predicting Prime Minister Rishi Sunak will backtrack on the 20% increase.

There has been widespread calls for the planned increase to be scrapped and Martin Lewis believes the PM will give into the pressure. Speaking on LBC radio, he said: “Reading the runes, and I’m careful of my phrasing, I think we may well get a win here. I think there is better than a 50/50 chance of it not going up.