Martin Lewis has advised first-time buyers about energy tariffs during his appearance on ITV's This Morning. Talking to Phillip Schofield and Holly Willoughby, in a later interview than planned, he told caller Bryony that she had the "right" to a price-capped tariff. He warned that energy prices are expected to rise to 42% in October this year.
Martin's own show, The Martin Lewis Money Show, aired on Tuesday (May 24) and in the show, he gave the exact figure for a fixed-rate energy deal that you should go and find. You can read more about that here.
He advised caller Bryony, meanwhile: " If you can get a fix now that is no more than 30% over the current price cap, it looks like it’ll be cheap now," but did say that it was "tough to give a blanket answer."
Martin then went on to offer his thoughts on the limited energy companies that the caller could consider.
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He said, "T he two I’d pick up are either a two-year-fix at Eon which is around 24% more than the price cap or one-year-fix at British Gas that is around 26% more than the price gap."
Martin added: "If you’re offered one of those then they are worth considering fixing" before saying that he'd "fix now" if you are scared of a rise in energy rates.
What are your thoughts on Martin's advice? Let us know in the comments
