Money Saving Expert founder Martin Lewis has issued a warning to anyone on a fixed-term energy tariff.
He said those who have locked in their rates may have to be prepared to cancel their deal as a way to save money. It comes as new Prime Minister Liz Truss is reported to be considering a freeze on the Ofgem energy bill price cap to deal with the cost of living crisis.
However, a freeze would not benefit those already on a fixed rate tariff. The Ofgem price cap only applies to people on variable rate energy deals - around 80% of the country, or 24 million people.
