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Daily Mirror
Daily Mirror
Business
Sam Barker

Martin Lewis warns tip to save cash by topping up prepay meters may not work for all

Martin Lewis has warned that his earlier advice for people on pre-payment meters to top up as much as possible may not work for all customers.

Speaking earlier this month , Lewis said that people with non-smart pre-payment meters could save money by buying energy before prices go up at the start of next month.

The cost of variable rate energy bills for the average household is capped by regulator Ofgem. That cap is rising from £1,277 a year to £1,971 on April 1 .

The MoneySavingExpert founder initially said customers on non-smart pre-payment meters should top up as much as they could before April 1.

That is because he believed customers doing this could buy cheaper energy, then use it up on that rate when prices go up.

But in the MoneySavingExpert email this morning, Lewis said: "I wanted to write this personally, as unfortunately information we were given by energy firms and the regulator no longer looks watertight."

The top-up tip will not work with Scottish Power and E.on, Lewis said.

These firms confirmed to MoneySavingExpert that you will pay higher rates for energy from April 1 regardless.

Scottish Power and E.on have been approached for comment.

However, the top-up trick should still work with other electricity suppliers, Lewis added.

"We had double confirmed with all other suppliers that the tip would work," he said.

However, it will not work for gas use, just electricity.

Lewis urged customers not to top up yet, but to wait for an update he hopes to give by lunchtime on April 24.

He added: "I'm gutted to have now discovered that in some cases that information was duff.

"On behalf of both me and MSE, I'm sorry. Diligent research is what we pride ourselves on."

Annual food bills are going up by around £180 as the cost of living crisis continues to squeeze households.

Council tax bills will also increase by around £100 in April because of the spiralling cost of social care.

The cost-of-living surge coming in April is “the worst” crisis Brits have faced in 22 years , including Covid and the financial crash, Lewis declared earlier this month.

Earlier this month Lewis issued a desperate direct plea to Chancellor Rishi Sunak ahead of the Spring Statement to offer more help to the poorest Brits.

Sunak hinted he could cut fuel duty and did not rule out tweaking income tax or National Insurance thresholds to give people a little more of their money.

He revealed he has set up a cost of living unit in the Treasury - amid suggestions he could raise the £150 council tax rebate or £200 repayable discount off energy bills.

He also claimed he would be lowering taxes by 2024 - after raising the tax burden to its highest in 70 years.

Lewis said the 54% or £693 rise in energy bills on April 1 will be “catastrophic” and Britain is already more than a quarter of the way through assessing another rise on October 1.

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