Big Energy Bill Hikes Coming: Should You Fix Now, Even If You’re Already Fixed?
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What are the upcoming changes to energy bills?
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That is simply not true. And I said, you're all on the price cap, almost certainly. If you're going to be locking in people, lock in cheaply. You are on the price cap if you're not on a fixed or special deal. So when I say price cap, I'm talking to you. We have to be hopeful that at some point this conflict is going to end and things are going to improve.
Should I fix my energy tariff now or wait?
But of course, nobody knows that. Hello, I'm Martin Lewis, and this is the cunningly named The Martin Lewis Podcast. I do wonder what that's going to be about. And this is our big topic episode, where each week we lead on one main subject to help you save. Now, usually most of it comes from my BBC Radio 5 live show with Adrian Chiles, but don't worry, there's also lots of bonus money-saving extras just for you lucky, lucky podcast listeners. In today's episode, the assessment period for July's energy price cap closed on Monday, so it's likely next week they will announce it's rising by 13%. And I've been swamped with your questions on that, including should I fix? Should I ditch my current fix to fix again?
What's the point of the price cap? What happened to the so-called energy bill cut in April and far more?
What does the energy price cap really mean?
So I'll do my best to try and answer all of those. We'll also be talking about the problem with scam ads regulation, the Chancellor's cost of living announcements, the strangest things you've ever done for a discount, and I cast Adrian as John McClane in a die-hard money mastermind. Play the theme tune.
Martin, I've got to say, you're just popping up everywhere. First you're at the BAFTAs getting your Lifetime Achievement Award. Then you pop up on Saturday Night Live. I thought, it's like, where's Wally? Where's he going to come next? Caddy in for Rory McIlroy appears on the space station or something. Can you just give me some warning so I know when you're coming?
How can I avoid higher energy costs this winter?
To be honest, I'm normally very careful and I say no to most things out there. I don't do a lot of the quiz shows and game shows out there. So I hope I don't appear on too much. I hope I'm not overexposed. We'll be talking about that when you talk about ways people have got discounts later. To be honest... No, they asked me and Ayawadi, who is one of the Saturday Night Live casts, has actually been to see my show. She's wonderful. And it's filmed in the same studios as my show. So we often come across them and they've been doing a running gag about me through the whole way through.
What are the risks of staying on a price cap tariff?
And so she asked me, would I come on the final show and just be a part of it? It was amazing, actually. If you get the chance. either to go or to appear on it, as it's you, but for anyone out there, if you get the chance to go to Saturday Night Live, I've never seen British television like it. There's 300 staff working on it. The amount of moving parts, the sheer scale of it is so impressive. I mean, I sat in the audience most of the time. I took Laura, my wife, and we sat there and it was... It was so entertaining. They've got live music going on the whole time between sketches when everything's breaking.
How do scam ads affect consumers in the energy market?
It's like going to a party. It was absolutely wonderful. And well done to the investment in that and a little bit of television and investing in all this young, new talent. And they really are a lot of talent. This is the next generation of British comedy. Someone's put some money in it. And we're going to see a lot of these people for a long time, I think.
I've got a slight fantasy of seeing you backstage... going over Tina Fey's standing charges on her energy bills or something. It's just... I just love the idea.
What recent announcements did the Chancellor make about energy costs?
I was on with Louis Theroux and we were having a very nice chat. The interesting thing, I should tell you, just as I'm doing more insight, is they sent me a script for my thing on the Thursday and then they sent me a totally different script on the Friday.
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Chapters
8 chapters
1
What are the upcoming changes to energy bills?
0:00–1:05
2
Should I fix my energy tariff now or wait?
1:05–1:55
3
What does the energy price cap really mean?
1:55–2:50
4
How can I avoid higher energy costs this winter?
2:50–3:21
5
What are the risks of staying on a price cap tariff?
3:21–3:51
6
How do scam ads affect consumers in the energy market?
3:51–4:19
7
What recent announcements did the Chancellor make about energy costs?
4:19–5:12
8
What are the best strategies for managing energy costs moving forward?
5:12–1:01:01
Speakers
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