Martin Lewis urges customers of British Gas, EDF, Octopus and OVO to send the same email before Monday
Topics: Martin Lewis, Money, Home
Kya Buller
Featured Image Credit: ITV/PA
Topics: Martin Lewis, Money, Home
In the middle of a cost-of-living crisis, it's Martin Lewis to the rescue time and time again.
The MoneySavingExpert.com founder, who also works as a presenter for ITV, is something of a modern idol, if you're into that sort of thing.
We regularly turn to him for advice on how to make the savviest choice and make sure we're not being fleeced.
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His latest advice tackles our pesky energy bills.
He has urged everyone who deals with British Gas, EDF, OVO and Octopus Energy to send a very important email before Monday.
Lewis stresses that this is for 'peace of mind', so it's well worth doing even though we're celebrating Easter this weekend.
If you have a working smart meter, you don't need to do anything.
If you don't, read on...
Ofgem have announced a price cap, and here's how to take full advantage.
Lewis said: "On Easter Monday, 1 April, the new April to June Energy Price Cap kicks in, falling on average by 12% - an improvement, though energy is still hideously costly.
"This Price Cap dictates the rates most people pay for energy, as it sets the max firms in Eng, Scot & Wales can charge for their standard tariffs (and almost all charge the max, natch) - which c. 90 per cent of homes are on (pretty much everyone not on a fix or EV tariff).
"In simple terms, it means on average for every £100 you currently pay, you'll pay £88 from Monday.
"Yet the fact prices are dropping doesn't mean you should sit on your heels, there are Cheaper switches & fixes worth looking at too."
Between 1 April and 30 June this year, energy prices are capped at £1,690 per year for a typical household who use electricity and gas and pay by Direct Debit.
He continued: "If you've a working smart meter, you don't need to do anything.
"If not, try to give an up-to-date meter reading within a few days either side of the rate change to reduce the risk your supplier estimates you've used more at the current higher rate than you have.
"For extra peace of mind, email yourself a time-stamped pic of the meter."
It's worth taking a second away from your Easter Egg hunt to get ahead of the game on this one - and spend the pounds you save on a glorious summer holiday this year.
Once you've done that, it's probably worth checking out his recent advice on how to bag super cheap flights, too.