The Money Saving Expert said he wouldn't normally recommend this, but 'these aren’t normal times'
Energy prices skyrocketed after the 2022 invasion of Ukraine, with many households seeing their energy bills at least double despite the energy price cap. However, their rapid price rise has not been matched by a rapid fall as markets stabilise, causing finance guru Martin Lewis to call the energy market "broken" while demanding "anything possible" to increase competition for customers.
Called acquisition-only tariffs, these deals could force suppliers to lower prices for new customers and bring prices down overall. Agreeing with the Money Saving Expert founder, Richard Neudegg, director of regulation at Uswitch.com, said: “Getting rid of the Ban on Acquisition-only Tariffs in October heralds good news for households seeking cheaper energy bills.
“Removing the ban will incentivise providers to work harder to compete for customers on price, service and choice.”
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