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Martin Lewis: Energy price cap may rise 5.1 percent in October

Martin Lewis: Energy price cap may rise 5.1 percent in October
Energy price cap may rise in October

Martin Lewis, founder and finance commentator at MoneySavingExpert, reports that the average prediction from three sources indicates the energy price cap will rise by 5.1 percent on 1 October due to very high wholesale rates seen in the past week.

This projected increase would add £93 to a typical annual bill, potentially wiping out any household savings.

Lewis has raised energy market concerns in earlier commentary. He previously highlighted the drop in crude oil prices to $73, while noting the figure remains above typical pre-war levels. In a separate warning, he advised younger adults to consider opening Lifetime ISA accounts before replacements are introduced.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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