Save Hundreds on Energy Bills: A Simple Switch You Can Make Now!
As energy costs continue to rise, the advice from consumer champion Martin Lewis couldn’t come at a more opportune moment for UK households. On his podcast, Lewis outlines how making a straightforward switch in energy tariffs can potentially save families around £200 per year.
The April Energy Price Changes
Starting from April, the energy price cap set by Ofgem will see an average reduction of 6.7%. This change means that many households can take advantage of better deals in the energy sector, particularly for those who have yet to switch their energy suppliers.
The Benefits of Switching
According to Lewis, this impending change in tariffs presents an ideal opportunity for consumers to move away from the default rate, known as the "price cap", which many are currently using without realizing they could benefit from cheaper options. The current market shows that some fixed-rate energy tariffs are already significantly lower than the price cap, and they are projected to decrease further as the April changes take effect.
A Call to Action
Lewis emphasizes the importance of acting quickly. "All bills are going to get cheaper, which means this is the perfect time to get off the energy price cap," he states. By locking in a fixed rate now, households could enjoy energy costs that are up to 16% lower than the cap, translating to substantial savings.
Understanding Policy Changes
Key to understanding these savings is the shift in how certain policy costs are managed. Some of the costs that were previously embedded in energy bills are now being adjusted or moved into general taxation. This means competitive fixed-rate deals can not only lower their prices but could do so even more significantly than before, making it essential for consumers to reassess their current energy plans.
For anyone looking to save on their energy bills, now is clearly the time to reassess and make informed decisions. With tools and guidance available, consumers are encouraged to compare, fix, and escape what Lewis humorously refers to as the 'pants cap'. For more detailed advice, listeners are urged to tune into his podcast for comprehensive assistance on making this transition.
