Martin Lewis offers advice as energy prices set to rise
Video Credit: ODN - Duration: 00:21s - Published
Martin Lewis offers advice as energy prices set to rise
The average household energy bill is to increase by £149 from October after Ofgem said it was increasing its price cap as homes approach the winter months.
Martin Lewis, the founder of MoneySavingExpert.com, said people should consider a fixed-price energy tariff, with there being "no good signs on the market of energy prices getting any cheaper." Report by Covellm.
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Martin Lewis said the government's decision to U-turn the winter fuel payment is a "huge relief" for pensioners. Rachel Reeves confirmed on Monday that pensioners earning less than £35k will be eligible to claim winter fuel payments this coming winter.
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Money Saving Expert Martin Lewis welcomed the price cap drop with caution saying it's “nothing to write home about”. It comes as households across Britain are expected to see their energy bills fall from July 1 after the regulator lowered its price cap by 7%. Report by Gluszczykm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Households on the energy price cap will see a 7% reduction in their average annual payments from 1 July, Ofgem has confirmed. Ofgem's Tim Jarvis urged households on the price cap to "shop around" for savings as there are "better deals out there" despite the reduction in the default tariff. Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Household energy bills will drop by 7% from July, the energy regulator Ofgem announced on Friday.
Ofgem's announcement is the first drop in the energy price cap for more than a year. Energy secretary Miatta Fahnbulleh welcomed the announcement, saying: "Bills going down will be a big relief for families who are under pressure with the cost of living. We have to continue the work of getting bills down for good."
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