MARTIN LEWIS has issued an urgent warning over fixed energy customers who could pay MORE than the new price cap in October. Prime Minister Liz Truss last week announced energy bills will be fr…
Those who fixed three to nine months ago will see their bills reduced to the same level as the new £2,500 price cap guarantee.
While details are being finalised, there's no way of seeing how much more you might be paying if you fixed onto a very high-rate deal recently.It is up to energy firms to roll out the change and switch people onto the price guarantee rate free of charge. But Martin said British Gas, Ovo Energy, Octopus, EDF, E.on and Shell have agreed customers will be allowed to move onto the price guarantee tariff with no early exit fees until at least November 15.
It may be tempting to make the move immediately, but Martin urged customers to "wait for now" until their supplier gets in touch with more information about how to switch. That's because you may be charged an early exit fee before your supplier has confirmed details of what you should do.There are plenty of energy grants and schemes open to help you out if you're struggling.
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