Martin Lewis shares new energy tariff advice ahead of 'horrifying' price hikes coming next month

dailyrecord.co.uk:

Martin Lewis shared a new video on his social media and YouTube channels over the ongoing energy crisis following reports from E.on customers over two new fixed-tariff deals being offered to them in their online accounts.Earlier on Monday, the founder of MoneySavingExpert.com took to social media to share details of the deals available to some existing E.on and E.on Next Direct Debit customers currently on the price cap.Describing the deal as a “winner” the financial guru urged customers to log into their online energy account to see if they were being offered a one-year fixed tariff deal.Posting on Twitter, he wrote: “IMPORTANT PLS SHARE: Eon & Eon Next Direct Debit customer on the price cap?“Log in today & see if ur offered NEXT ONLINE V11 1yr fix.

It should be SAME rate as the April price cap (ie 54%ish more than now - check) - if so, as cap likely to rise another 24+% in Oct it's a corker.”Martin highlighted how the E.on Next Online V11 one-year fixed tariff deal is the same rate as the April 2022 price cap announced by Ofgem last month.The energy price cap limits the rates a supplier can charge for each unit of gas and electricity you use and is going up by £693 from £1,277 to £1,971 on April 1.Some E.on customers are also being offered a slightly more expensive two-year fixed-tariff deal, which Martin described as a “slightly less but still a definite winner”.The reason why this could be seen as less of a ”definite” is that you're signed up for a longer period of time and it's hard to predict how energy prices could fluctuate over the long-term.He explained in response to a query on Twitter: “While the 1yr is a definite winner, the 2yr is a likely but less definite winner.“As it depends on the cap from April 2023