Published On: Thu, Apr 16th, 2020

Martin Lewis: Money Saving Expert on how to cut energy bills amid coronavirus

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Martin Lewis has shared advice to help Britons as the coronavirus crisis continues. Tonight, he appeared on The Martin Lewis Money Show to answer viewer questions. He explained how homeowners can save on energy bills while staying at home.

With Britons staying at home during the coronavirus lockdown, some may have noticed their bills increase.

The government urged Britons to stay indoors as much as possible which means they will be using electricity while in the property.

As well as people being indoors more often, Martin revealed some energy companies have recently hiked up prices.

However, the expert told viewers how they could save on energy bills during this time.

READ MORE: Martin Lewis issues warning to savers to ‘check now’ on interest rates

Energy prices in the UK have been at their lowest in recent months, Martin explained.

He commented: “Lock in energy fixes now. The oil price until last week was at a 17-year low for a few weeks.

“That means energy prices for switchers – not if you’re on a standard tariff – have been at a three year low, it’s super cheap.”

While costs have been low, he said this might have changed for many people this week.

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Martin added: “On Sunday, the United States, Russia, Saudi Arabia and a lot of others agreed to drop oil production in order to get the oil price to go up.

“That’s already seeming to flow through into energy prices where some of those cheap tariffs have been pulled.”

Some bill payers will have noticed the cost of their bills increase as the price of oil soars.

However, homeowners do not necessarily need to pay more during the crisis.

By using price comparison sites, Britons can find themselves a cheaper deal.

This saving could be as big as hundreds of pounds a year.

“If you’re on a standard tariff especially but for anybody, do a comparison now,” Martin added. “People are short of cash.

“For someone on a big six tariff typical use is £350 a year.

“This is a no-brainer time to go and do a comparison if you’re struggling.

“This means you will be putting less cash out for exactly the same stuff. It’s worth doing.”

By shopping around, Britons could find themselves a much better deal on their bills.

This could help those who are struggling save some extra cash.



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