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Martin Lewis Explains 'Virtually Unprecedented' Change to Bills Coming This Year
The UK government’s budget will reduce the Energy Price Cap in April, cutting average bills by £150 and lowering unit rates by up to 6.5%, Martin Lewis explained.
- Martin Lewis explained that April will bring a 'virtually unprecedented' change in energy bills, with electricity unit rates down by about 3.5 pence and gas by about 0.35 pence.
- Amid that shift, the cap is set to drop in April, as the Energy Price Cap, which two thirds of households are on and rose last week, looks likely to fall by up to 6.5%.
- Data show the unit-rate shifts will cut electricity unit rates by about 3.5 pence and gas unit rates by about 0.35 pence, while current cheapest fixes remain around 15% below the price cap.
- If your fix is ending, Martin Lewis warned customers on fixed tariffs that doing nothing defaults them onto the Energy Price Cap and urged reassessment due to April changes.
- The UK government has pressed energy firms to pass on savings, and Martin Lewis said most will do so on the first of April, calling the cap the `energy pants cap`.
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