Save Money on Energy Bills: Martin Lewis' Expert Advice

Martin Lewis shares his expert advice on saving money on energy bills by switching to a fixed tariff. Find out how you can save money and avoid potential price hikes.

Saving Money on Energy Bills: Martin Lewis’ Expert Advice

As the cost of living continues to rise, it’s more important than ever to find ways to save money on our energy bills. According to Martin Lewis, founder of MoneySavingExpert, switching to a fixed energy tariff could be the key to saving money.

“The vast majority of people in England, Scotland, and Wales are on a price cap tariff,” Lewis explained on his BBC podcast. “If you don’t know what tariff you’re on, you’re almost certainly on a price cap tariff.”

Lewis warned that wholesale prices might not drop as much as hoped due to issues such as the crisis in the Middle East. However, by switching to a fixed deal, people can save money. He highlighted the best deal possible currently from EDF, as well as alternatives from British Gas, E.on, Octopus, Sainsbury’s, and Outfox the Market.

Saving money on energy bills is crucial in today’s economy.

The cheapest fixed deal right now is the EDF Essentials one-year May 2025 fix, which is 7% less than the current price cap. Other options include Outfox the Market’s Super Fix’d Dual, British Gas’s Fixed Lighter, E.on’s Next Fixed, Octopus Energy’s Loyal Octopus, and Sainsbury’s Energy’s Fix and Reward.

Comparing energy tariffs can help you find the best deal.

Lewis emphasized the importance of considering fixed deals, especially with potentially bad news about wholesale prices on the horizon. By making the switch, people can save money and avoid potential price hikes.

Martin Lewis, founder of MoneySavingExpert, shares his expert advice on saving money on energy bills.

Remember, it’s essential to stay on top of your energy bills and explore your options to find the best deal for your needs. With the right fixed tariff, you can save money and enjoy peace of mind.

Saving money on energy bills can make a significant difference in your budget.