Cost of living warning: £400 energy bills boost may be ‘faff’ for Britons on older devices | Personal Finance | Finance
The financial expert also warned that the Government’s cost of living package announced in May is already out of date, with inflation set to reach 11 percent by the end of the year.
He said: “Every little helps when battling the onslaught of inflation, but the multi-billion energy support package announced in May is already out of date, with some sections of the energy industry predicting that the energy price cap could rise by £3,420 in October – a much higher sum than the £2,800 predicted in May by Ofgem.
“Prices could soar further still by an additional £500 for the month of January alone.
“This winter is set to be the bleakest when it comes to energy bills in a generation.