Martin Lewis, the BBC and ITV star, has spoken out and said households must take action and fix their energy bills without delay.
UK households have been told they must do a quick energy bill check today as cheap deals will disappear in the next 24 hours. Martin Lewis, the BBC and ITV star, has spoken out and said households must take action and fix their energy bills without delay.
He said: “Sadly, no surprise, Ofgem announced what we’ve long warned you about. The simple answer is fix now to lock in a price cheaper than the current cap, which means it’ll be far cheaper than the cap once it rises in April.”
Martin warned on February 25 that the cheapest deals currently available could disappear within 72 hours – with February 28 coming tomorrow. Kara Gammell, personal finance expert at MoneySuperMarket, said: “The latest price cap rise means it’s more important than ever to take action so you’re not paying more than necessary for your energy.
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“This deal could save households £200 a year on energy bills, making budgeting your monthly and annual bills easier and offering protection from any future price hikes,” she said. When energy prices spiked most households slipped energy price cap tariffs, but it is now possible again to switch to fixed rate energy deals that can save you money.
uSwitch lets you compare the best energy deals for you, based on your home and gas and electricity costs. By entering your address and energy usage, you can search for energy deals that can cut your costs and suit how you live.
Switching energy provider can also help the planet, if you move to one of the a green deals offering electricity from renewable sources and more environmentally-friendly gas. Energy prices are due to rise to £1,849 from 1 April for customers on variable tariffs.
If you’re on one of those tariffs, it’s likely you can save if you switch energy today. Uswitch explained: “There are deals available now that could save you around £170 a year compared to standard variable tariffs where prices are set by the price cap.
“This would give you more certainty about your energy bills this winter, with prices currently predicted to stay high until at least the spring. Remember to consider exit fees you might have to pay to leave the deal early, as well as its length and how much your monthly payments would be.
“You can run an energy comparison to see available deals, but there’s nothing wrong with staying on a variable tariff if there isn’t a deal right for you.”