Martin Lewis warns energy bills will rise on two specific dates in 2025

Martin Lewis has warned that energy bills for all suppliers from British Gas to OVO, EDF, EON and Octopus will go up twice more in 2025. The BBC Sounds star says energy customers will see their bills skyrocket twice - in January and in April.

The ITV regular Mr Lewis said: “ In October there was a 10 per cent rise from where we were on the price cap. At the time, I was predicting a 1 per cent rise, on Friday we got the announcement it will go up a 1.2 per cent rise. I’ll take that. I was close enough.

“So that is what we know is happening, what is important really for deciding whether to fix or not is what happens after that. So here are the current predictions. In April, and we’re one week into the three-month assessment period for that, it is currently predicted it will go up again by three per cent.”

READ MORE New 50 per cent energy bill social tariff could replace £300 Winter Fuel Payments

Given the price cap rise in October, many will have been hoping to see a fall in the cap for January. Unfortunately, forecasts show that prices will be staying relatively high for the remainder of winter. Cornwall Insight explained: "The cap level is a reflection of a relatively volatile wholesale market, influenced by supply concerns tied to geopolitical tensions, maintenance on Norwegian gas infrastructure, weather disruptions, amongst other smaller factors.

"Despite prices stabilising in comparison to the past two years, the market remains very sensitive to global events. This is leaving prices substantially above historic averages. Given that higher prices are likely the new normal, it is important that the government look at ways to protect the vulnerable from high energy bills.

"Whether this be through social tariffs, to bring energy in line with telecommunications, changes to the benefit system, or review of the price cap mechanism. Ofgem is currently undergoing a comprehensive review of the price cap with potential changes to elements such as the standing charge expected over the coming year."

Dr Craig Lowrey, Principal Consultant at Cornwall Insight, said: “Our final price cap forecast for January indicates, as expected, bills will remain largely unchanged from October. Supply concerns have kept the market as volatile as earlier in the year, and additional charges have remained relatively stable, so prices have stayed flat. While we may have seen this coming, the news that prices will not drop from the rises in the Autumn will still be disappointing to many as we move into the colder months."