Consumer champion Martin Lewis has issued new advice for people who have fixed-rate energy tariffs.
The financial journalist says it could be worth seeking a new fixed-tariff energy deal before October, when gas and electricity prices are set to rise again. That increase in the cost of energy bills could amount to an annual difference of £3,500 or more.
Meanwhile, inflation has soared to a 40-year high of 10.1% with Martin, the founder of MoneySavingExpert.com, suggesting that consumers should now consider a higher threshold when looking at what fixed-rate tariffs are currently on the market. Commenting on his website, he explained that no fixed tariffs are meaningfully cheaper than current deals, but they will be if the predicted October hikes in price go ahead.
