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Martin Lewis: How to save on your energy bills

"This is an early warning alarm for next winter and now maybe the last time you have a chance to do anything about it.”

Money Saving Expert Martin Lewis told 5 Live's Nihal Arthanayake that now is a good time to switch energy provider to save money in the winter.

"When you go and do a comparison, which is what you should be doing, you should be adding fifty / sixty / seventy pounds to the saving,” he said.

He explained you'll be saving more than you think if you switch now due to the price cap changes coming later this year.

"The wholesale energy prices (those are the prices that gas and electric firms pay for energy) accelerated hugely. They are at a three-year high right now,” he said.

He added that this means consumers are going to see "substantial rises coming up”.

This clip is originally from Nihal Arthanayake on Wednesday 26 May 2021.

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Duration:

5 minutes

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