Following the recent hikes in energy prices, moneysavingexpert.com‘s Martin Lewis has advised consumers to ‘Cap now’ to avoid any further rises in the near future.
The self-proclaimed advocate of “consumer revenge” has said that the other suppliers will all follow the lead of EDF Energy, who raised prices by around 20% at the start of last week.
According to Mr. Lewis “the remaining five are likely to follow soon”, meaning all 6 major suppliers will increase their prices at the same time and by roughly the same amount, as was seen in January 2008. “With further energy hikes expected next year, everyone can save by choosing a capped tariff.” he said.
As prices rise more and more, larger numbers of households are taking control of their energy in the same way businesses do – by agreeing long-term fixed price energy contracts that guarantee your rates can’t change for the duration of the term.
Domestic contracts of this sort can be arranged through uSwitch.com, our online partner for residential supplies. Visit uSwitch and tell it where you live and how big your bills are and it’ll tell you who the cheapest option for you is.
British Gas have also already announced a hike of 35 per cent at the end of last week, which will come into effect soon. Any customers unsure of their current situation should check their contract status with their energy supplier and shop around for the best deal if they are free to switch. The best deals are available to customers willing to sign-up online and pay by Direct Debit.