Financial expert Martin Lewis has commented on the role of fixed tariffs as energy bills are anticipated to drop.
Speaking on ITV’s Good Morning Britain, Mr Lewis notes recent changes in energy prices, with a 5% increase and an expected 4% decrease in April.
Martin Lewis has advised against hasty tariff-fixing decisions, highlighting a cost-effective option, the E.ON Next Pledge, which mirrors the price cap and offers a 3% discount.
Mr Lewis said: “As for switching, it’s all changed in the last couple of weeks. Energy prices went up 5% but the current prediction – and we’re over halfway through the assessment period for the next price cap that hits in April.
“Then for July, they’re going to come down by 4% on top of that so, if you’re on the price cap, it’s looking like prices are going to drop quite substantially in April. I’m not saying they’re going to be cheap, just that they’re going to drop.
“So when people talk to me about fixing – should I lock in a tariff – the cheapest fix that you don’t have to switch over other utilities or get boiler cover with, is 4% cheaper than current prices.
“The only tariff that I would suggest people have a look at and see if it’s right for them is the E.ON Next Pledge tariff, which is available not just to E.ON customers, you can switch to it. It’s the price cap, with a 3% discount.”
