Financial expert Martin Lewis has shared advice on what to do if you're on a fixed energy bill and the price cap is frozen today, September 8. The advice comes as new Prime Minister Liz Truss is expected to freeze the energy price cap at £2,500.
Mr Lewis appeared on This Morning yesterday, September 7, and took questions from concerned viewers ahead of a bleak winter. Advising those who are on a fixed energy bill, Mr Lewis said: "The honest answer is I don't know. I think you'll get out with exit penalties - but I'll be lobbying for anybody who has fixed to be able to switch to standard tariffs without exit penalties.
"We are in rumour territory as it stands. I can't give you a firm answer. I'd probably sit on your hands for a day or two and wait to see what the announcement is."
The 50-year-old added: "I think we're going to get the most radical shift in energy policy. The latest I've heard is that they're going to freeze it for someone on typical use at around £2,500.
"But people will still get the £400 discount that was promised this winter taking it to £2,100. I breathed a sigh of relief that there was a political will to do something. People will argue over the mechanism, but we needed something doing and I hope we hear something tomorrow."
Earlier this week, Mr Lewis, who is the founder of moneysavingexpert.com, clashed with former Tory MP Edwina Currie, who criticised the financial expert for branding the soaring cost of energy a 'catastrophe'. Ms Currie then offered home-warming tips to viewers, including placing tinfoil behind their radiators - a tip which has since been debunked by experts.
While she thought she was providing helpful advice as she shunned the idea that we are in a crisis, Martin reminded her just how much bills had risen, and the likely impact this will have on families. She had told those in the studio and at home via video link from the Peak District: "What we have to do is not get emotional about it to the exclusion of using common sense, to try and sit down to try and think about what we can all do, whether it is in businesses or in homes.
"Not everyone can I accept that, but many of us can do something. We have to be cool and calm. Panic and emotion, it drains the energy when what we need to do is conserve the energy and use it well."
Mr Lewis and Ms Currie then clashed on-air, with the former MP telling the Good Morning Britain presenter that his choice of words were not helpful for people and their mental health. Mr Lewis retaliated: "Edwina, isn't that a catastrophe? Isn't that a catastrophe? Let's be honest."
The former MP replied: "It doesn't help using words like that Martin," to which he retorted: "But it is a catastrophe, you may not like the language."
Ms Currie went back: "The language is not helpful," as Mr Lewis then retorted: "You can't ignore the rise in bills, that's what is a catastrophe it is not my language, it's the practice of what is happening."
She then finished: "Let me get a word in edgeways," before urging people to get a piece of paper and work out what they can do to make their lives "easier".
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