Martin Lewis issued advise on his ITV show (Image: ITV)
Money Saving Expert founder has urged anyone who uses certain energy providers to take urgent action. Speaking on his , Martin Lewis Money Show Live, he shared that some current tariffs are “pants” and customers should try and change immediately.
He advised anyone who is currently on a price capped tariff to “get off it if you can”. The warned that Ofgem’s Cap applies to “bog standard, default and domestic tariffs” – with two thirds of homes in the UK currently on one of these payment plans.
You should not be on a capped tariff if you have a fixed or specialist tariff. However, if you’ve never switched or a previous fix or deal ended and you did nothing then you are more than likely paying more than you need to be.
He said: “Just to be very plain about this, I’ve picked the biggest firms in the country and I’m going to give you the names of their price capped tariffs. If you are on one of these, you’re on the price bracket – the ‘pants’ cap.”
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