Martin Lewis has revealed three key ways for customers to keep energy bills down before the huge increase in April.
Next month, energy prices are set to be increasing by more than 50%, or close to £2000 for the average household, which may lead to a further financial struggle for many families around the country.
The energy price cap, which is the maximum amount that a utility company can charge customers, will be rising from £1277 to £1971 on 1st April, which will be an increase of over £690.
In light of the energy price hike, money-saving expert Martin Lewis has told energy users of three crucial tactics which they can use to counteract the rising prices of their bills.
First of all, the Martin Lewis Money Show star advised that customers that use a traditional prepayment meter should check if they can ‘stockpile’ energy by pre-purchasing as much as they can afford at the moment before the rates increase.
Lewis did mention that this hack won’t work for all prepayment customers, including those on Scottish Power, who would regain the difference.
The expert said: “If you max out your top-up in March before the rate goes up, that's what you'll get, even if you then use that energy in April.”
He secondly advised that direct debit customers should take a meter reading both now, and the day before the price cap is set to increase so that as much energy can be charged at the lowest rate, rather than at the new rate.
Next, Lewis said that families should look into claiming the £150 council tax rebate from April for those living in council tax bands A, B, C, or D in England, Wales and Scotland.
Those in higher tax bands won’t be able to claim the rebate, but customers in Scotland can qualify if they currently receive a council tax reduction.
Lewis added: “Keep an eye out for a letter from the council because each council will tell you its claim system and you need to watch for that.”
There is also the Discretionary £140m Fund that was set up by the government for billing authorities to support households in need who cannot claim the £150 rebate.
Martin Lewis also explained that energy customers should contact their supplier about setting up a payment plan if they are worried about the upcoming price hike.
Households can also check whether they are eligible for the government’s Warm Home Discount or Winter Fuel Payment, according to Lewis.
How to save money on energy bills:
- Check if you can ‘stockpile’ energy by pre purchasing energy before the 1st April increase if you use a prepayment metre
- Take a meter reading now and the day before the price cap is set to increase on 1st April so that your energy can be charged at the current lower rate
- Claim the £150 council tax rebate from April if you’re in council tax bands A, B, C or D in England, Wales and Scotland
- Check whether you can claim part of the Discretionary Fund from your local council if you cannot claim the £150 rebate
- Contact your supplier to set up a payment plan if you’re worried about the price hike
- Check whether you’re eligible for the government’s Warm Home Discount or Winter Fuel Payment
Featured Image Credit: Alamy Stock Photo
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