It's a big decision for households as the cost of living crisis continues to bite. Here's what Martin Lewis and the MSE team has said on the matter
Martin Lewis and the Money Saving Expert team have issued a warning to "existing" Octopus Energy customers, amid the new Ofgem price cap announcement due on October 1. The consumer finance expert, famed for his insights on BBC Sounds and ITV, shared his advice in the Money Saving Expert newsletter.
The experts also highlighted another option for those who are able to adjust their energy consumption: "Alternatively, Octopus' electricity-only Agile tariff has rates that change half-hourly, based on wholesale prices good for those who can shift their electricity use out of peak hours." "Alternatively, deals like E.on Next’s Pledge, or EDF Ensure are effectively discounted trackers, where they move with the Price Cap, but the unit rates or standing charges are guaranteed to be lower. And for more sophisticated energy users, the Octopus Agile and Tracker tariffs, where prices move rapidly, can be far cheaper."
Former pensions minister Baroness Altmann has urged the government to "urgently announce a delay" in its plans to introduce means-testing for pensioner energy support payments. She warned that the Department for Work and Pensions is likely to struggle with the expected surge in Pension Credit applications, as reported by Birmingham Live.
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