MARTIN Lewis is urging households to switch energy supplier now to shave hundreds of pounds off your bill before the cheapest tariffs vanish.
In his weekly email, the MoneySavingExpert warned that effects of a series of serious global events have already hit our energy market, pushing up prices.
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Analysts Cornwall Insight warned that the attack on the world’s largest oil plant in Saudi Arabia and issues with French nuclear power stations are likely to be felt here in the UK.
The premature closure of the Netherland’s natural gas field and Russian gas restrictions also haven’t helped to keep prices low.
Already, British Gas and EDF are among the suppliers who’ve hiked the price of their cheapest tariffs by up to £75 a year.
This is because the cost of wholesale prices has also risen, which is passed onto customers.
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“So, if you haven’t sorted a cheap deal for winter, DO IT NOW as many more may go,” Martin urged his readers.
“Switching is easy,” he added. “Some are worried by it, but the energy never goes off, nobody visits you (unless you want a smart meter) and it’s the same gas, electricity and safety.
“In reality, only price and service change.”
Even though the savings that can be made by switching are smaller, it is still hundreds of pounds cheaper than sticking with a variable tariff.
Even though the government announced that it will be lowering the price cap from £1,254 to £1,179 in October, you can actually save up to £280 a year by fixing into a deal.
Avro’s Simple & SuperSave tariff costs £891 a year and its now open to new customers, after it was slapped with a ban in May for failing to join the smart meter network in time.
The cheapest tariff from the Big Six is with Scottish Power on it’s Super Saver Sep 2020 deal that costs £958 annually.
Customers can save £243 a year on energy bills but it’s worth noting that the provider only scored 56 per cent in the MSE customer service survey.
New and existing British Gas customers can also benefit from a £221 cut in bills with it’s Energy Plus Protection Green Oct 2020 that costs £958 a year.
An investigation by the MSE team revealed that households are paying up to £72 a year more for energy based on where they live.
On Monday we reported how the government’s smart meter roll out has been delayed by four years past the 2020 deadline.
Energy giant SSE also announced that it would be selling it’s household supply side of the business to Ovo Group, affecting 3.5million customers.
It means it will no longer be one of the Big Six if the deal is approved by regulators.
How to switch energy suppliers and save money now
MILLIONS of households across the UK have never switched and are stuck paying more than they should.
Have a recent bill to hand – this will have all the details you’ll need, such as the name of your tariff, your recent spending etc.
If in doubt, call your provider and ask them to move you to their cheapest tariff.
Better still, use an impartial copmarision website like uSwitch, Citizen Advice or Energyhelpline.com to find the very best deal for you.
MoneySavingExpert.com‘s Cheap Energy Club will let you set up an email reminder that alerts you when cheaper deals become available.
The cheapest tariffs are usually found online and are fixed deals – meaning you guarantee how much you’ll pay for a set amount of time, usually 12 months.
Switching to a cheaper supplier could cut your bill by up to £300 a year.
The amount you pay varies depending on where you live and how much energy you use.
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