A noted British economist and personal finance expert is sounding the alarm that citizens will face massive — even “cataclysmic” — energy bills this coming winter that could surpass £3,000, or more than $3,500 per month.
Speaking on Good Morning Britain, Martin Lewis, the Money Saving Expert founder said that Britons are facing a “bleak winter” with millions if not more than 10 million people experiencing real poverty.
Lewis went on to say that he believes the coming winter will be the worst the country has experienced since the 1970s in terms of personal finances.
He said he thinks that the energy price cap will rise at least to £3,000 in October, an amount nearly four times what it cost just two years ago when the most inexpensive deal was roughly £800. He also said he is concerned that the higher amount is a massive amount of income that someone on universal credit is receiving, according to the Coventry Telegraph.
Lewis, in his interview, said that kind of money for energy is simply “unaffordable” in an interview with hosts Kate Garraway and Ben Shephard.
He said: “We are heading for a very bleak winter. It doesn’t feel it now. The sun shining. It’s a nice time. It’s easy to forget what’s going on with energy bills.”
“Your prediction of £2,800 was what the regulator Ofgem said in May. Well, since May the year ahead wholesale prices which the price cap are based on have been higher than before. The latest prediction I have, which was a couple of weeks ago from Cornwall Insight, is that for somebody on typical bills, the price cap will rise to £2,980 in October and £3,000 in January,” he continued.
“But even that, I believe, is probably now out of date. And after what’s happened in the last couple of weeks, I suspect we’re looking at an over £3,000 for a typical bill coming in October,” Lewis noted further.
“Now, to put that in context, a couple of years ago, the cheapest deals you can get just two years ago were around £800. So that’s a nearly fourfold increase. And £3,000 a year is such a substantial portion of the amount that a state pensioner receives or an amount somebody on universal credit, a single person on universal credit receives,” he added.
“So let’s be under no uncertain terms. What we are facing is potentially cataclysmic,” he predicted.
“We are talking about millions, if not 10 million people moving into real poverty this winter, the worst winter we have seen, well, maybe since the 1970s and maybe before that in financial terms. And to deal with that, the government was too slow to deal with the warnings that were given,” said Lewis.
This comes as the European continent allowed itself to become too addicted to Russian energy, even as NATO members. After Russia invaded Ukraine in February, NATO countries, the EU, and the United States all sanctioned Moscow and cut themselves off from Russian oil, which left the European continent in a huge void, energy-wise, after spending the past decade-plus ‘transitioning’ to “clean energy” that cannot possibly deliver enough to power modern economies.
The left-wing global elites who have pushed this nonsensical ‘transition’ away from cheap, plentiful and mostly clean-burning fossil fuels even as our enemies (Russia, China, etc.) double down on them has led to something of a rebellion, according to Ralph Schoelhammer, an assistant professor in economics and political science at Webster University in Vienna, Austria.
A popular uprising of working-class people against the elites and their values is underway—and it’s crossing the globe. There is a growing resistance by the middle and lower classes against what Rob Henderson has coined the “luxury beliefs” of the elites, as everyday folks realize the harm it causes them and their communities.
The era of left-wing elitism and their insane globalist policies aimed at enslaving the vast majority of the planet while they live in the lap of uber-luxury are coming to an end.