Martin Lewis has issued his advice on whether to stick or fix your energy bill. The Money Saving Expert issued his latest guidance on ITV's This Morning on Wednesday, May 4. Martin offered his advice to Patricia, a disabled woman living in Liverpool who called in on the show. Patricia, who is an energy customer at Scottish Power, said she was paying £70 a month, reports BirminghamLive.
She now has a choice of fixed rate for £180 or standard for £140. Martin said: "There is no point going to anyone else, there is no open market fix that is anywhere near as cheap as that right now. You were on a cheap fix - well done - son you have forestalled the energy rises everyone else is going through for a long time. Read more: Martin Lewis says Brits with cash ISA account should close it as soon as possible
"You are going to come off and the default is to move to a standard variable tariff and you are being offered an alternative which is 29 per cent more to fix. This is the big question everybody is asking me right now. We are on the price cap here and that is gong to chang in October and the current prediction is the price cap will rise around 32% in October.
"From where we are now, everyone on the price cap is going to see it rise by 32% in October. The following April, nowhere near as strong prediction, it is going to come down. When you look at that across the year, it is likely on average people will be paying 17% more on average across the year than the current price cap."
He added: "On the pure prediction for you right now, the best thing to do is to stick on the price cap. The but is that you might want some certainty and know in case things get worse. If you can get a fix within 25% of what you are paying now, it may be worth going to that for price certainty."
