Martin Lewis reveals ‘easy deal everyone can take’ which chops your energy bill by £100s
MARTIN Lewis has revealed an “easy deal” available to everyone which can make savings on your energy bill.
The money saving expert, 51, gave the details on his ITV show, which is the last in the current series.
Mr Lewis told the viewers: “This is the big news which has changed this week.
“It isn’t the greatest saving in the world but I am allowed to say it is an easy deal which many people can get to save money on energy.”
He explained the E.on Next Pledge Tariff is three per cent cheaper than the current price cap.
Previously, it was only available for existing E.on customers but is now available for “new customers and customers from other firms to move across”.
Mr Lewis explained that the price cap is the scheme which most households are on, around 20million, where the price is set by the regulator Ofgem.
The pledge tariff tracks the price cap, but is three per cent cheaper.
Mr Lewis said: “So it goes up when the price cap goes up, and goes down when the price cap goes down and its three per cent cheaper.”
According to the figures, that means a typical user would save roughly £50 a year.
A user on the price cap would pay 7.42p per KwH for gas, while someone on the pledge tariff would pay 7.2p.
Similarly, for electricity someone would pay 28.62p per KwH on the price cap while on the pledge tariff this would drop to 27.69p.
To be eligible for the tariff you have to pay by direct debit, it is for dual fuel or electricity only and you do have to have a smart meter.
Applications have to be made online.
If you do leave the scheme early there is a fee of £25.
He said: “If you’re the type of person on the price cap and you’re happy to go to E.on Next this is quite simply a three per cent saving over the next year.
“It’s a no-brainer.”