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Liverpool Echo
Liverpool Echo
World
Jess Flaherty

Martin Lewis's warning over 'energy price war' which could save you hundreds

Martin Lewis has issued an urgent warning over an apparent "energy war" among suppliers fighting to undercut one another.

The MoneySavingExpert founder warned people should act now and take advantage in order to bag big savings.

In his weekly newsletter, the finance guru said "there's an energy firm price war on" as companies battle to be the top big name in the switching tables.

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The savings whizz said it kicked off with British Gas, then E.On undercut before Scottish Power joined in - and the leads varied as each has cut prices three times in response, leaving them now around £20 per year cheaper than the start.

Millions can make a saving, such as MSE user Jan, who tweeted: " @MartinSLewis thanks to you I've saved over £1,000/yr on my energy bills. Feel like I've been ripped off for years."

Advice on Martin Lewis' website offers guidance on who to choose as your energy provider, particularly if you prefer a name you know.

If you find choosing confusing, MSE can pick a winner for you. MSE recommends its Pick Me A Tariff every year (MSE Autoswitch) which requires users to state their preferences before it finds a winner from the whole market.

Enter your postcode below to claim a free scratchcard:

When that ends, it emails you your new winner and you can switch again with just one verification click.

Alternatively, Pick Me A Tariff for now does the same, without switching you at the deal's end.

It's also important that consumers do not rely on the energy price cap to bring down the cost of their bills. A recent report from MoneySuperMarket found switching deals could save households more than £189.

Energy price caps limit how much suppliers can charge per unit of gas or electricity.

The cap prices are based on how much it really costs on average to get energy to a customer's home.

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