Energy bills will increase on April 1, but Lewis said those with prepaid energy meters can lock in by buying electricity at current prices, saving money in the future.
Image: Tom Dymond / REX / Shutterstock)
MoneySavingExpert founder Martin Lewis has some urgent advice for people using prepayments energy meters to top up if they can by April 1st.
Speaking at the Ideal Home Show last week, Lewis said that people with non-smart pre-meters can save money by buying energy before prices go up early next month.
The cost of the average variable rate energy bill, for the average household, is capped by the regulator Ofgem.
That limit is increasing from £1,277 a year to £1,971 on April 1.
Lewis said: “If you’re on a non-smart prepayment meter, then look to top up as much as you can by April 1, because the regulators have confirmed to me that you get charges on the day you top up -up, not the day you use energy.
“So that means deposit as much as you can in March before the big price hike on April 1st and then you’ll still be able to use it in April but at a cheaper rate. and then don’t recharge until you really need it. When you recharge, the price will change.”
Lewis added that those paying with monthly direct debit should also measure the meter on March 31, the day before the 54% increase in the April price cap.
“You need to draw a line in the sand with your energy supplier, so you say ‘everything I’ve used up to this point should be on the cheap’,” he said. just let it estimate what you.’was used in March and what you used at a higher rate.”
I have a fixed transaction, will my bill increase?
No, not while your fixed deal lasts. This limit relates to the standard variable tariffs of energy suppliers – these are tariffs that customers are applying as a default and have traditionally been more expensive than transactions with low rates. Fixed price offered.
The reason for the power limit was given to prevent these customers from paying high prices for their loyalty.
If you’re on a fixed agreement, you’ll continue to pay the same rate until the end of the term – unless your provider fails and you’re transferred to a new company. If that happens, you will be moved to their variable rates.
Currently, households are in a strange place because moving to a new permanent business premises means paying higher prices. Chances are, if your deal ends soon, you’d be better off switching to your supplier’s standard rate than switching to a new flat rate.
Council tax bills will also increase around £100 in April because the cost of social care is increasing.
https://www.mirror.co.uk/money/martin-lewis-gives-urgent-energy-26446397 Martin Lewis offers emergency energy bill advice to prepaid meter customers