Martin Lewis shared more advice on how energy consumers can better manage their bills after Liz Truss revealed her plans to tackle rising gas and electricity costs amid the cost of living crisis.
The founder of MoneySavingExpert.com has become one of the most authoritative voices for people looking to save on bills.
Lewis posted an update on fixed rates on Twitter shortly after Buckingham Palace announced the Queen’s death Thursday night, prompting some criticism that her message was disrespectful.
He said in his tweet, posted an hour after the announcement of the queen’s death at 6:30 pm, that he was “sorry” to post on energy bills but that the update “can’t wait” because the problem is impacting. so many people.
Truss – who was appointed prime minister by the queen two days before her death – announced Thursday that the government will freeze national energy bills at around £ 2,500 as part of a package to ease the cost of living crisis.
The energy cost guarantee will be financed by an increase in loans after Truss rejected requests for an unexpected tax on oil and gas producers.
Read more: The queen’s coffin lies in the state in keeping with historical tradition
But there has been uncertainty around those who have already agreed on a flat rate with their energy companies, which means they may now end up paying more than the government-subsidized rate.
Announcing the latest news on fixed rates, Lewis said, “Sorry to post about energy right now, but this is [an] important update and can affect the choices people are making right now. These are in particular those at a fixed rate. The information on the rules for fixes may change.
“1. The new ‘price guarantee’ will effectively work as a discount to the unit rates of the pre-programmed ceiling rate for 1 October.
“2. I now feel that this discount per pound will also apply to all rates, including corrections.
“3. Thus, many solutions that currently seem more expensive than the price guarantee will end up being cheaper.
“4. Also there could be a reversal of the ‘everything can get out of a flat rate with no exit penalty’ information that the government told me earlier. It could be down to the companies. Watch out until I get confirmation.”
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Acknowledging some of the comments that the timing was wrong, Lewis said some people “can’t afford to lose” money by waiting.
She tweeted: “To those who say ‘I can’t wait until tomorrow.’ Unfortunately no, I’ve heard of people trying to undo corrections now, and this could cost them £ 100 or £ 1,000 which they can’t afford to lose. found it necessary to get the information out. “
Before posting the update and when the news was made public, Lewis had paid tribute to the queen.
She tweeted: “RIP your majesty. Sending best wishes to all who loved you. And relief to all for whom this brings pain directly or indirectly through memories.”
Watch: The audience reacts to the Queen’s death outside Buckingham Palace