The founder of Money Saving Expert (MSE) took to Twitter to tell households considering concluding an energy deal to act “as soon as possible”. He explained how wholesale energy prices have “jumped” again in the last week. This could push gas and electricity companies to replace the cheaper existing customer repairs with more expensive deals. The lack of cheap offers has left about 22 million households at the standard maximum rate, which is reviewed twice a year by the energy regulator Ofgem. READ MORE: Jet2 issues a warning two days before the busiest summer of recent years The latest warning from Martin saw him telling households to consider setting only an energy deal that is no more than 35% higher than the current price cap. The ceiling could then be no more than 40% higher than the current “if you really value budget certainty” ceiling. WARNING: Wholesale energy prices have skyrocketed in the last week, so reasonable energy companies will make the cheapest existing customer repairs & replace with more expensive ones. If you are thinking of fixing it, my best guess is to go as soon as possible. List of top invoices here Please share – Martin Lewis (@MartinSLewis) He said: “If you are thinking of correcting, my best guess is to go as soon as possible.” Unfortunately, the latest MSE calculations show that there are currently no corrections below these limits in the open market. However, you may be able to find an invoice below 40% through your existing power provider. MSE has noted a one-year repair of E.on and E.on Next V14 that is 30% higher – but again, this is only available to some households already with E.on. Two-year corrections are more difficult to predict in terms of value for money, as it is less certain how energy prices will fluctuate. If you want to fix for a longer period of time, MSE has highlighted an EDF Energy two-year deal for existing customers that is 34% above the current price cap. This concerns the two-year Fix Total Service Jun24v2 repair. The other invoice pointed out by MSE is from So Energy, which offers one- and two-year corrections to the So Hibiscus agreement which are both 40% on the current price cap. The current price cap, which sets a price limit that a supplier can charge for each unit of gas and electricity you use, is 97 1,971 per year for those who have a default tariff and pay a flat rate. Ofgem now predicts that the price ceiling could be raised to 2. 2,800 this October. Energy consultant Cornwall Insight raised the October price cap to just above £ 2,879, before rising to £ 2,907 in January, under new rules that mean the cap can be adjusted every three months. Millions of households will receive a 400 400 discount on their energy bills later this year as families continue to struggle against the cost of living crisis. The new support was confirmed as a replacement for the λι 200 ”loan-no-loan” to be repaid by 2023. Read more related articles Read more related articles
