In a video post on X, he shared a little-known trick to make sure no exit fees are charged, while still looking out for the best deals on the market.
He said: “If you’re on a fixed tariff… they cannot charge you early exit fees if you leave a fix within the last 50 days. So from a 49 onwards, no early exit penalties. You’re absolutely free to leave if you choose to.
“It’s a very good idea to work out when your fix ends and put 50 days beforehand in your diary to do a comparison to see if you can then find anything cheaper.
“If you can, you’re free to switch when they can’t block you in with penalties. If you can’t, stay where you are, milk it out until the last moment.”
Quick tip if you’re on or are getting an energy fixed tariff… pic.twitter.com/ihMQ5kZV8Y
— Martin Lewis (@MartinSLewis) March 10, 2025
The founder of MoneySavingExpert.com has urged households still on a standard variable tariff to switch to a fixed tariff to beat the rise.
Looking further ahead, he has said: “The current analysts’ predictions are once the price rises in April, it will stay at roughly that rate for the next year. Though the further out you go the more crystal ball gazing that is (and the chance of peace in Ukraine, the middle east, or US pumping out oil could see energy prices fall). Still the safe bet based on current predictions is to fix.”
Recommended reading:
The increase will raise the average bill for households in England, Scotland and Wales on a standard variable tariff from the current £1,738 a year to £1,849, followed a recent spike in wholesale prices.
The rise will equate to £111 for an average household per year, or around £9.25 a month, over the three-month period of the price cap.
This is 9.4% or £159 higher than this time last year but £531 or 22% lower than at the height of the energy crisis at the start of 2023.
Source link
[Featured]
[Just In]
