Money expert Martin Lewis is advising people in the UK to take action now to save on their energy bills in the future. He warns that the energy crisis is not over, and bills are expected to increase later this year.
The Ofgem energy price cap has dropped twice since April, resulting in a decrease of £360 from January to July. However, experts predict that the price cap will rise by ten percent in October and remain elevated until March of the following year.
To avoid paying more, Lewis suggests considering locking in a fixed price now. He recommends looking into providers offering the cheapest standalone energy fixes for 12 months. Outfox the Market is currently the cheapest option, while British Gas, EDF, and Ovo also have competitive deals. Additionally, consumers can explore tracker tariffs, such as those offered by E.on, EDF, and Octopus.
Researching and comparing different energy deals using tools like MSE’s Cheap Energy Club can help consumers find the best option for saving on energy bills in the upcoming year. Taking proactive steps now can lead to significant savings in the long run.
