Martin Lewis has updated his advice on whether you should fix your energy tariff or stick to the price cap after it rose by 54% in April. At the end of March 2022, he advised people against getting a fix, saying: "It's just not worth it. Stick on the price cap."
But now a month on, the founder of Money Saving Expert has advised that it may now be worth fixing your tariff for financial security. The financial expert said his advice is based on the most recent data published by energy market analysis company Cornwall Insight.
He said: "The current price cap for someone on duel fuel, typical use is £1,971 a year. That went up massively on April 1 and that's where it sits right now. That will last until the beginning of October and the October price cap is based primarily on wholesale rates that energy firms pay between the start of February and the end of July."
