UK Gas and Electricity Price Increases: Which is Best Fixed or Variable Rates?

Now that British Gas has announced that it will be increasing energy price with effect from 16th November by an eye watering 6% on average, what are we to do? Just take it as inevitable? Not according to Martin Lewis, the Money Saving Expert.He is emphatic that something can still be done to protect ourselves from this enormous price hike.Appearing on the consumer ‘slot ‘on the ITV programme ‘This Morning’, he was advocating viewers agree with their provider to a fixed rate,locking-into a current price that will apply beyond the current spate of energy company price increases.The time to do this though,was now.Soon it will be too late as the current offers by some providers will be soon withdrawn from the market.The deals are not as good as they were a few weeks ago, but some savings are there to be made by acting now.

He also had a word for people who had a supply metered – this will always be the most expensive way to pay for energy.He also recommended looking at a number of providers’ tariffs on independent comparison websites, but he said it might not be wise simply to go to a single energy supplier for advice on the best rate to pay.

It seems that in the UK, consumers are faced with annual increase in prices for many years to come,of a similar size to those being currently announced. To read more of what Martin Lewis said…

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