As we wait to hear what new Prime Minister Liz Truss will do to help struggling households amid the cost of living crisis. Martin Lewis has shared what you should do if you're on a fix energy bill and the price cap is frozen. It is widely expected that when the government announcement is made, we will see a freeze on the energy price cap at £2,500.
Lewis, who has been branded the people's champion when is comes to financial and money saving matters, was fielding questions from viewers on ITV This Morning on Wednesday, September 7. Birmingham Live reported that 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." He told Holly Willoughby and Phillip Schofield: I'd probably sit on your hands for a day or two and wait to see what the announcement is."
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He said: "I think we're going to get the most radical shift in energy policy." He added: "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."
He said: "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."
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