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Wales Online
Wales Online
National
Richard Blackledge

Martin Lewis issues crucial advice for Bulb energy customers

Energy firm Bulb became the latest - and biggest to date - energy supplier to fail earlier this week.

Its collapse into special administration has affected 1.7 million customers, and means it is the first firm to use a system that was designed to prop up energy suppliers deemed too big to go under.

The Government has promised to set aside nearly £1.7 billion to ensure people's lights stay on - and now Money Saving Expert Martin Lewis has issued some vital guidance for Bulb's customers, including one key piece of advice.

"The real practical question is 'What should you do?'," he said during a bumper hour-long edition of his Martin Lewis Money Show that aired on ITV on Thursday night (November 25), quickly following up with his answer: "Do nothing."

He added: "I'm only talking about household customers here, not business customers, that's not my subject area and the rules are slightly different.

"Bulb is just under new management, under the administrators' management.

"Keep paying your direct debit or keep topping up your pre-pay as normal.

"You are already on the price cap rate, so the new rate will be exactly the same, there is no change there."

He also told customers they did not need to switch - as "no tariff is meaningfully cheaper".

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