Martin Lewis has called on Chancellor Rishi Sunak and the Government to take action amid an expected 50% rise in the energy price cap.

Average energy bills are set to increase from around £1,275 to £2,000, and the MoneySavingExpert founder argued that "help has to come" for many people.

He said: "We have at least a year of extremely high prices, which is why it is incredibly important we see a form of intervention coming."

The cap, which comes into effect in April, covers consumers on standard variable energy tariffs, rather than fixed tariffs, equating to around 22 million households. 

Ofgem will make the announcement at 11am today (Thursday, February 3) on price cap changes, which is an hour before the Bank of England is expected to increase interest rates again to tame surging inflation.

What did Martin Lewis say on the potential energy price hike?

On Wednesday (February 2), Lewis said the next 24 hours will now be pivotal in the crisis, and that he hopes the Chancellor will intervene to help those most in need.

Speaking to Yahoo News he said: "It is a very big day for energy as to exactly what will happen.

"I don't know - but we will hear the price cut rates coming and then, on the back of it, I hope we'll hear mitigation methods - because, bloody hell, do we need them.

"My hope is that it is big enough to help people. Help has to come. A 50% rise is absolutely unsustainable."

Lewis believed that Sunak would implement measures that would help the most vulnerable but also support the "Red Wall" conservatives, which didn't leave Brits with many options to lessen the impact of this price rise.

He went on: "There are very few tools left in my arsenal; you can no longer switch, you're stuck with it

"The worst thing is that if wholesale rates stay where they currently are right now, that won't be the end of it - we expect to see the first October's price cap to rise again by 20%."