Martin Lewis has urged the public to check their energy bills and switch provider now during lockdown.
The Money Saving Expert founder appeared on This Morning today and explained to viewers why now is the time to switch energy provider.
Speaking to hosts Holly Willoughby and Phillip Schofield, the financial guru revealed that switches tariffs are at their lowest prices for three years because the oil price went negative 10 days ago, the Liverpool Echo reports.
"Oil prices don't totally make up our energy bill but they do contribute to it," Martin said.
Watch the video above to learn more.
Martin added: "This could be one of those rare positives... switches tariffs are at their lowest prices for three years.
"This is the time to switch your energy provider."
Martin stresses that people need to be looking at a fixed tariff in order to secure a cheap rate for a year.
He told viewers: "You need to be looking at a fixed tariff... they're not going to go up if you get a fixed tariff."
He revealed prices on a fixed term tariff "will last for at least one year if you do it", but usage will affect the cost of bills.
The finance expert said: "This is the moment to check and switch.
"I would urge everybody to be checking their bills and usage right now."
Speaking of offers currently available, Martin explained the average price cap for someone on typical usage is £1126 a year, but the cheapest tariff currently on the market is £766.
Martin advised customers to check comparison sites as some of the cheaper tariffs are only available via comparison websites, and many are based on your area.
Finishing his stint on the popular morning show, he said: "The sin of inaccuracy is not as big as the sin of inaction.
"Don't use any excuses for not doing it."
For more financial tips, head to moneysavingexpert.com.
This Morning airs weekdays from 10am on ITV.
