MARTIN Lewis has revealed an “easy win” when it comes to slashing energy bills with a simple swap.

The MoneySavingExpert has tonight told how much of a “no brainer” it is to change energy provider ahead of this year as the UK finds itself in yet another recession.

Martin Lewis has been handing out more advice tonight

2

Martin Lewis has been handing out more advice tonightCredit: ITV
He told the audience to make the swap to Eon energy

2

He told the audience to make the swap to Eon energyCredit: ITV

It comes just after the energy price cap hike that took place in the new year.

The cap rose from £1,834, the lowest figure since March 2022, to £1,928 a year on January 1.

It means the average household will see their annual dual fuel bill increase by £94, but the exact amount will depend on usage.

But the Martin Lewis has claimed that “anyone can beat the price gap by three per cent”.

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On Martin Lewis Money Show on Tuesday the expert said if you can, all Brits should make the switch to Eon because of their new tariff – Next Pledge.

E.ON Next has now opened up its ‘Pledge’ variable tariff to all new and existing customers.

The tariff promises a three per cent discount, worth around £50 a year, on Ofgem‘s price cap rates.

So from January 1, a customer on the price cap would pay 7.42p per kWh for gas, but those on E.ON’s tariff would pay 7.2p.

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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.

The expert explained: “If the price gap goes down it goes down, and if the price gap goes up, it goes up.

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“But it’s always three per cent cheaper for a year.

“If you’re sticking on the cap and you’re happy with Eon and having a smart meter then it’s a no brainer.”

On tonight’s show he also urged Brits to make a three-second check which could save them thousands of pounds.

He said payments “drip out of our accounts” and most of the time we don’t even realise – which is handy for bills but not all transactions.

But sometimes, outgoing payments could hit a fault and if you’re not checking you could be losing out massively.

You can beat the price cap

MARTIN Lewis has issued the following advice

Undercut the price cap by 3%

  • Eon Next Pledge is for switches and existing customers on Direct Debit
  • It’s -three per cent below cap for a year, so if cap drop it drops
  • If sticking on the cap, happy with Eon and a smart meter, it’s a no brainer

Cheapest fixes – big benefit is you get price certainty

  • Predictions right: over next year on cap you’ll pay 17 per cent less
  • British Gas price promise is 12 per cent cheaper for switchers and existing customers
  • It promises from April 1 to drop to £1 under April cap

This post first appeared on thesun.co.uk

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