savings expert Founder Martin Lewis has released a new update on energy deals.

The financial guru urged most households to “do nothing” and to keep the maximum rate of energy prices.

He said there were currently no cheap offers on the open market.

Experts predict that the maximum price could reach £ 2,800 in October, followed by a hike to £ 2,900 in January.

Based on these numbers, Martin said those looking for price certainty may want to strike a power deal.

In his weekly newsletter, he explained that you should look for a one-year flat rate that doesn’t exceed 35% or 40% above the limit.



Man looking at his energy bills

Martin said: “If the forecast is correct, you will pay an average of 35% more next year than now.

“Sure, it’s partly a crystal ball and an average, but overall my best guess, as a general rule, is …

“If they offer you a one-year solution up to 35% above your current maximum price rate, or 40% more if you value budget certainty very much, it’s worth a look. Be considered.”

The cheapest fixed rates are usually for existing customers, but Martin highlighted some open market rates that drop below his 35% to 40% threshold.

The lowest free market rate that “scratches” your equation is from Ovo Energy, which offers a one-year solution on its Better Smart plan.

In terms of existing customer offerings, Martin highlighted a one-year E.on (Next) V14 patch, which is 30% more.

There are also one-year rates from SSE, Ovo Energy and British Gas which are 32% higher than the current price limit if you are already a customer.

Martin explained that two-year solutions are more difficult to predict in terms of value for money because it is less certain how energy prices will fluctuate.

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