With energy prices set to drop again in April, Money Saving Expert founder Martin Lewis shared the “only tariff” worth looking into for those considering a fixed rate.
Speaking to ITV’s Good Morning Britain this morning, Mr Lewis said: “As for switching, it’s all changed in the last couple of weeks.
“Energy prices went up five percent but the current prediction – and we’re over halfway through the assessment period for the next price cap that hits in April is they’re going to come down by 14 percent.
“Then for July, they’re going to come down by four percent on top of that so, if you’re on the price cap, it’s looking like prices are going to drop quite substantially in April. I’m not saying they’re going to be cheap, just that they’re going to drop.
“So when people talk to me about fixing – should I lock in a tariff – the cheapest fix that you don’t have to switch over other utilities or get boiler cover with, is four percent cheaper than current prices.
“But, we’re looking at a 14 percent drop in April. So, based on current predictions, no fixes on the open market look worthwhile.”
However, the Money Saving Expert noted: “The only tariff that I would suggest people have a look at and see if it’s right for them is the E.ON Next Pledge tariff, which is available not just to E.ON customers, you can switch to it.
“It’s basically the price cap, with a three percent discount. So for the next year, whenever the price cap moves, this one is three percent cheaper.
“So if you’re going to be sticking on the price cap anyway, you may as well stick on the price cap but pay three percent less for it. That’s the E.ON Next Pledge.”
