Martin Lewis is urging consumers to switch from energy price capped tariffs to potentially cheaper fixed tariffs as prices are expected to increase further. He emphasizes that many households are currently on these capped tariffs, which are set to rise by 3-5% in April. By finding and opting for a fixed rate now, customers could save about 7% compared to the capped prices, ensuring stability in their energy costs despite looming hikes. Lewis advises regular comparison shopping every few months due to the lack of loyalty rewards in the energy market.
Most homes are on an energy price capped tariff. The cap went up 10 percent on 1 October, with further increases expected, yet consumers can save now.
Most firms charge at the limit, and these limits are high now, meaning the price cap is a pants cap; swapping to a cheaper deal pays off.
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