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Martin Lewis issues urgent warning for bill payers on when to modify energy providers | Personal Finance | Finance

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The Money Saving Expert founder took to Twitter to induce Britons to “act as soon as possible” before things get even worse. Up to now, he’s hesitated against advising Britons to modify but says energy bills spiked again this week.

Some 22 million families who’re currently on the usual energy price cap as a consequence of an absence of other options may gain advantage from Martin Lewis’ latest advice.

The financial journalist has taken to social media to warn Britons that energy firms might be about to remove their least expensive energy fixes and now could be the time to act.

He wrote on Twitter: “It’s plausible energy firms will pull the most affordable existing customer fixes and replace with costlier.

“Should you are considering fixing, my best guess is go ASAP.”

READ MORE: When Universal Credit claimants will get first instalment of £1,200

This implies someone on typical usage could soon receive yearly bills of £2,800, in line with Ofgem.

In a one hour Cost of Living TV Special earlier this month, Mr Lewis gave some worthwhile advice to a caller after his direct debit was hiked.

In the course of the show, Roger called in to ask his advice after his energy company put his direct debit up three and a half times from £46 to £160.

Mr Lewis said while it’s common for somebody’s bill to extend by as much as two and a half times, three and a half times seemed extreme.

Some eight million households will profit from the additional money announced by Chancellor Rishi Sunak.

Households who depend on Universal Credit will receive their first instalment of around £326 from July 14.

The second instalment is due in Autumn.

Pensioners will receive an additional £300 to assist them survive the colder months.

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