Money Saving Expert Martin Lewis has a warning for anyone who uses direct debit to pay for their energy bills.
The TV finance guru is concerned that people could make a costly mistake if they try and change the way they pay their bills in an attempt to lower their outgoings each month. On Tuesday, he took to Twitter to issue a warning, in what appears to be a response to a large number of people asking the same question.
He said: "WARNING! Many talking about cancelling energy Direct Debits to 'keep in control' and just pay when billed.
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"Yet be aware that's usually charged at a HIGHER RATE. Price cap (for someone with typical use) paying by:
"Monthly DD £1,971. Prepay meter £2,017. Quarterly bills £2,100"
On Monday, Martin appeared on Good Morning Britain, where he told co-host Susanna Reid: "We are in the worst position I have seen since I started being the Money Saving Expert back in 2000."
His advice is, as it has been for some time, that for most people the best thing to do to pay as little as you possibly can is to "do nothing" and stick with your current provider."
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