Martin Lewis, 45, Money Saving Expert, also known as the MSE or Money Saving Expert, explained how you can save £340 on your energy bills.
The Money Saving Expert, also known as MSE, warned of a gas and electricity price hike from British Gas, EDF Energy and EON. Speaking on This Morning, he told presenters: “Most people are wasting over £300 a year – it’s time to stop that.”
He outlined how energy customers can save a huge sum of money every year through simply changing tariffs, reducing your standard bill by hundreds.
Last week the big announcement was from British Gas – it is putting up both gas and electricity prices for those on its standard tariff by an average 5.5 per cent on 29 May. This is equivalent to around £60 added on top of a typical bill.
Yet it’s not the only firm doing this, after British Gas’ announcement, EDF then said it would increase its standard price on electricity by 2.7 per cent (gas prices won’t change) on 7 June, equivalent to around £16 on a typical bill.
Plus last month Eon did what I call a backdoor price hike, not announced like the others, because its rates won’t change. From this Thursday it’ll ditch some ‘dual fuel’ (ie, gas & electric) discounts and up some standing charges – equivalent to an average rise of £22 a year on average.