Martin Lewis urges households to switch energy providers now as wholesale prices hit three-year high

Martin Lewis is urging UK households to check if they could save money by switching energy providers.

The consumer champion pleaded in the latest issue of the Money Saving Experts Bulletin where he warned of an impending “crisis” as the wholesale cost of energy hit its highest in three years.

The financial reporter wrote: “Two weeks ago we told you that wholesale tariffs – these energy companies pay – were at their highest for three years. They soaked a smidgeon after that, but they were resurrected again.

He encouraged all energy bill payers to seek better deals and switch providers if they can.



Martin Lewis is confident the MSE tool will save £ 150-250 per year on energy bills

Martin advised consumers to check back now as we move into summer to ease the blow of winter heating bills and avoid paying too much on current energy rates.

MoneySavingEcpert.com has a list of the best energy deals available right now that you can find here.

Last year, the 49-year-old and his team at MoneySavingExpert.com launched a brand new automatic energy comparison and change tool.

the ‘MSE Autoswitch’ service took 18 months to grow and is the latest addition to the mainstream website Inexpensive energy club.

MSE said the tool will ensure that vendors will no longer be able to bet on people who forget to switch after the cheap offers have ended.

unlike others automatic switching services, the tool will not change registrants en masse, but will automate, speed up and effectively simplify the individual comparison process that most people can do on their own.

How does MSE Autoswitch work?

The user enters details of their energy bills and chooses their energy preferences.

Then the “Choose me a rate” The tool uses an algorithm and selects a person’s best deal based on what the bill payer has declared as the most important aspects to them.

In addition to a premium rate selected from across the market, users will also receive the next two closest connections according to their preferences.

Even if the first choice is with one of the suppliers MSE cannot change the individual, it will always come across as the best deal.

the website explains that this would simply mean that MSE cannot automatically switch users next year, unless he joins them.

On the anniversary of the change, the consumer’s website will contact the user with a new superior offer based on their preferences, the recipient can click to confirm their wishes and the details have not changed, if they wish to change. .

the the use of the tool is free and if the user changes through the tool and MSE gets paid, the user will receive about half of the cash back – £ 25 for dual fuel switches and £ 12.50 for single fuel.

However, MSE warned while detector could be a great tool for those who want to stay on a cheap energy tariff, it may not be right for everyone.

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Who can and cannot use MSE Autoswitch?

It works across the UK with the exception of Northern Ireland and is not yet available for prepaid rates or for a few niche rates including Eco 10.

Martin explained: “We don’t want detector people at businesses where they can’t top up their credit, but we’re working on a solution – in the meantime, do a prepayment comparison. ”

Join MSE automatic switch, currently you need to change tariffs, they are working on a connect facility anytime, so if you find you are already at a great rate just wait and join when it ends. Find out more on the MoneySavingExpert.com website here.

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