The price cap for gas and electricity is set to rise in October, according to the Money Saving Expert team - and they're urging people to take steps now to offset costs
The MoneySavingExpert.com team, founded by financial guru Martin Lewis , has issued a recommendation to Brits concerning their energy bills, advising them to act swiftly to avoid the predicted hike later in the year. In their most recent newsletter, the experts from MSE highlighted that the energy turmoil is "far from over", cautioning that there is a "strong likelihood" of a significant surge in gas and electricity prices come October.
MSE is proactively suggesting that people across the UK should secure their energy rates now by switching to a more favourable deal. Emphasising the urgency, they remarked: "Those who switch are likely to be able to forestall these rises by LOCKING IN to a fixed deal now." However, choosing this option does require payment through direct debit. Additionally, MSE reminded consumers to consider tracker tariffs, which adjust according to the energy price index, like wholesale energy rates, albeit with varying operational details.
This tariff requires payment by monthly direct debit and a smart meter. If you don't have one, you can apply to get one and still be accepted for the tariff. With EDF Ensure, as the standing charges are discounted, MSE says it tends to be better for lower users where the standing charges are a larger proportion of the bill. This one is available to those who pay by direct debit, receipt of bill, and smart prepay.
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