The Money Saving Expert (MSE) founder says that the 'vast majority' of people who are 'risk adverse' should be looking to fix their energy bills
Martin Lewis has offered advice on how to "stop" the rise in energy bills when the Ofgem October price cap increases next week. On Tuesday, October 1, Ofgem's price cap will surge by £149 annually from £1,568 a year to £1,717 for a typical dual fuel household paying by direct debit.
Responding to queries from viewers this morning while hosting Good Morning Britain today, fellow GMB presenter Susanna Reid relayed a question from a viewer asking whether she should fix her energy tariff with Octopus Energy. Sussana stated: "I need advice on locking in a price for energy, Octopus keep emailing me to fix my tariff for 15 months.
However, even though wholesale prices are escalating, the fixed tariff deals proposed by energy suppliers are decreasing. He added: " are offering cheaper tariffs now then they were a couple of weeks ago so bizarrely energy prices are going up if you're on the price cap but the cheapest rate available if you are going to switch is coming down.", reports the Mirror.
"So you will save a little bit more than you are paying now but next week you will be saving 9.4%. EDF's tariff basically says you can fix now at the current rate, so you simply won't get that rise, so you stop the price rise."
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