Speaking to Kate Garraway and Ben Shephard, Martin didn't have the best news for the public. "We are headed for a very bleak winter," he remarked before explaining: "With the latest prediction, I suspect we are looking at over £3000 for somebody on typical bills." To put that into context, a couple of years ago the cheapest price you could get was around £800 so that's a nearly four fold increase."
WATCH: See the moment Martin Lewis goes missing from live TV
We must wait for the end of August announcement which will reveal the 1 October price cap, but with Martin's foresight, he is evidently worried. "What we are facing is potentially cataclysmic," he warned. Going on to say this could be the "worst winter we have seen since the 1970s in terms of finances".
Martin is concerned about the future
Martin has been in talks with OVO energy to make plans for more transparency on pricing, a decrease in the standing charge and more help for those who simply can't pay their energy bills, but he concluded the interview with a plea to the government for action, to prevent this crisis unfolding.
So what can you do to reduce your energy bills?
While not much can be done to make a huge difference with the rising energy costs, there are small changes you can make which do add up. Here's what to do right away:
Make changes now to save money
- Only boil the water you need in the kettle, otherwise you're just heating up and cooling down water for no reason!
- Turn your computer off over the weekend if you work from home
- Dry your clothes outside in the sunshine and ditch the dryer
- Do your dishes by hand instead of whacking on the dishwasher
- Turn your thermostat down by one degree
- Bleed your radiators ahead of winter
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