Money saving expert Martin Lewis has issued an “urgent” warning to energy customers after EDF, British Gas and EON predicted energy bills will go up as much as 7% in April.
Martin said customers of every energy firm face an increase of up to 7% on their energy bills from April, according to EON, British Gas and EDF estimates, but it will be too late to get the best deals by the time the cap actually comes in.
The money mastermind has warned that most “cheap fixes” that he was urging people to switch to in recent weeks have now been “pulled” and that most websites aren’t showing customers the best deals still available.
Posting on X, Martin said: “Urgent: It’s predicted on 25 Feb it’ll be announced the Energy Price Cap most homes (Eng, Scot, Wales) are on will rise 5-7% on 1 April (Sources: EDF, British Gas, Eon).”
He continued: “Most cheapest fixes have been pulled, bar two, both on average over 6% cheaper than the current Cap (so 12% over likely Apr cap).
“Yet most comparison sites DON’T show em by default. Many’ll rush to fix when the Cap rise is announced, yet by then fixes will almost certainly be far costlier.”
Martin then urged customers who are currently with any energy firm to use his MSE cheap energy club comparison tool. This is because, unlike some price comparison websites, MSE’s is a whole-of-market comparison.
That means it doesn’t just show results from companies which have paid to be included, but shows everything by default.
Martin said: “Both fixes are listed on my MSE cheap energy club https://clubs.moneysavingexpert.com/cheapenergyclub as it is always whole of market by default.
“The reason they’re not shown on other comparison sites is with one as its mainly only available direct (or MSE), the other because it doesn’t pay comparison sites and most sites hide by default those that don’t pay them (you have to click a button to add them in).
“Yet its important to do a comparison because which is your cheapest depends on region and usage.”
