Martin Lewis issues direct debit warning as energy costs soar
Anyone who pays their energy bills by direct debit should heed the latest advice from Martin Lewis.
The money-saving expert has issued a warning after being inundated with inquiries from worried bill payers ahead of energy price hikes in April.
Regulator Ofgem has confirmed most bills will rise by an average of £693.
READ MORE:Martin Lewis urges MPs to crack down on energy companies as cost of living crisis deepens
The price cap will rise from £1,277 to £1,971 from April 1, with prepaid customers being hit harder as the price hike drops from £1,309 to £2,017.
Recently, the money-saving expert has run out of ideas on how to help people deal with the cost of living crisis and last week said he was “out of tools and urged the government to do more to help those in difficulty, reports the Echo of Liverpool.
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However, on Tuesday, March 22, he took to Twitter to issue a warning to many people asking the same question.
He said: “WARNING! Many talk about overriding automatic energy charges to ‘stay in control’ and only pay when charged.
“However, be aware that the price is usually charged at a HIGHER RATE. Price Capping (for one person with typical usage) by paying by:
“JJ Monthly £1,971
« Prepaid meter £2,017
“Quarterly bills of £2,100”
On Monday (March 21), he appeared on Good Morning Britain, where he told co-host Susanna Reid: “We’re in the worst position I’ve seen since I started being the expert on saving money in 2000.” His advice is, as has been the case for some time, that for most people the best thing to do to pay as little as possible is to “do nothing” and stick with your current provider.