Martin Lewis reveals whether you should fix your energy bill now after the latest price cap prediction.
What does it mean The family has £830 on its bills. can see the growth of When the new price limit will be applicable.
Earlier, Offgame boss Jonathan Brearley told the Business, Energy and Industrial Strategy Committee that he was expecting energy price cap “in the region of £2,800”.
But Martin insisted that Britons should settle their bill only if they find a deal that exceeds the current limit by 30 percent.
He told The Martin Lewis Money Show: “Effectively, if you can find a fix at least 30 percent off the current price range, it’s probably doable – and you can add five percent on top of that because you’ll get There’s a definite value to knowing what your prices are.”
The money expert added that we expect the cap to be “around £2,800 by next April” before it drops “a bit”.
He explained that this means “we have four months on this price range and then you have at least six months on the next one”.
The price range protects the millions of customers who are on their supplier’s standard variable tariff.
Today, Offgame boss Jonathan Brearley told the Business, Energy and Industrial Strategy Committee: “I am afraid to say that conditions in the global gas market have worsened since the Russian invasion. Ukraine, Gas prices are high and highly volatile.
“At times they have now reached 10 times their normal level.
“I know this is a very critical time for customers, but I need to be clear with this committee, with customers and with the government about the potential price implications for October.
“So later today I will write to the Chancellor to give my latest estimates price range uplift
“It’s uncertain, we’re only part way through the price cap window, but we’re expecting a price cap” In October In the region of £2,800.”
Switching to a fixed deal used to be cheaper, but now they are more expensive due to higher wholesale gas prices.
Many energy firms have previously offered “flash cell” tariffs to customers.
In March, the octopus was A “limited number” offer Tariffs below the April price range costing £1,950 for a household with a moderate energy consumption.
Similarly, EON started a cheap deal that monthWhich was pulled from the market after desperate customers swoon.
Track your online energy accounts and be the first to know about cheap tariffs for your supplier’s email.