THOUSANDS of households can now feel the benefit of switching their energy supplier – and Martin Lewis says it’s “finally” worth a go.
It comes ahead of the energy price cap hike in the new year.
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The cap will rise from £1,834, the lowest figure since March 2022, to £1,928 a year from January 1.
It means the average household will see their annual bill increase by £94.
But E.ON Next has opened up its ‘Pledge’ variable tariff to all new and existing customers.
The tariff promises a 3% discount, worth around £50 a year, on Ofgem‘s price cap rates.
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So from January 1, a customer on the price cap would pay 7.42p per kWh for gas, but those on E.ON’s tariff would pay 7.2p.
Similarly, for electricity, someone would pay 28.62p per kWh on the price cap, while on the pledge tariff, this would drop to 27.69p.
To apply, existing customers need to be logged in, and then navigate through to ‘tariff renewals’ to get a quote.
New E.ON Next customers can get a quote and apply through its website.
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You must have a smart meter to take on the tariff.
Customers who sign up are locked into this tariff for 12 months.
If you decide to leave early, you’ll have to pay an exit fee worth £50 for dual-fuel or £25 for electricity-only.
Speaking on ITV‘s Martin Lewis Money Show earlier this week the consumer champion said: “This is the big news which has changed this week.
“It isn’t the greatest saving in the world but I am allowed to say it is an easy deal which many people can get to save money on energy.”
The pledge tariff tracks the price cap, but is three per cent cheaper.
Mr Lewis said: “So it goes up when the price cap goes up, and goes down when the price cap goes down and it’s three per cent cheaper.
“If you’re the type of person on the price cap and you’re happy to go to E.on Next this is quite simply a three per cent saving over the next year.
“It’s a no-brainer.”
What energy bill help can I get this winter?
Thousands of households are due up to £25 in free cash after cold weather payments were triggered in hundreds of postcodes.
The Department for Work and Pensions (DWP) hands out the free cash to help support hard-up Brits during cold spells.
And eligible households get the cash paid directly into their bank accounts within 14 days.
The cold weather payments are made in locations where residents experience continuous below-zero weather.
Households can get £25 during each seven-day period of low temperatures from now until March 31.
Cold weather payments have been triggered in over 300 postcodes so far in November – meaning that thousands of households are owed cash.
Plus, millions are due up to £600 in winter fuel payments.
You should have received yours by January 26, 2024 at the latest.
If you haven’t got your payment by then, you need to call the office that pays your benefits.
Those details can be found in the letters they have sent you.
And if you’re found to be ineligible for the winter fuel payment but want to challenge that decision, there’s a government form for that, too.
Millions on benefits will also receive the final £299 cost of living payment in February.
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We’ve previously explained who’s eligible and whether you’ll need to act to get it.
Additional support is also offered by councils in the UK through the Household Support Fund.
