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Martin Lewis was back this evening to offer his expert advice on our finances, during his ITV show The Martin Lewis money show.
And his main segment during the show was centred around the important of saving money on your home energy bills this winter.
Explaining the benefits of watching what you spend in your home as the colder months draw in, Martin told viewers, “The earlier you plan for it the better.”
Martin’s first tip was a simple one – to look at your energy bill to see if you can get a better price for it this winter.
He said, “Sort your energy bill – I’ve said it for years. You should be doing it every year.” He also acknowledged, “I know that the price cap has dropped for those on the big providers. But that price cap only last six months, so while it might be a fair price, it doesn’t make it a cheap price.”
He suggested if you want to be locked in to a fixed price for a year, a new company called Green are offering a £821 rate. The MoneySavingExpert said, “From the feedback I’ve got, they’re not bad.”
“Or, if you want to go with a known company,” he continued, “E.on is the cheapest one year fixed rate at £821”.
However, he urged viewers that the main way to save money on your bills this winter is to to look on price comparison websites for the best deal for you.
Martin revealed, “Your cheapest, and your winner, depends on where you live and your energy usage – that’s why you should use price comparison sites.” He even suggested it may be worth it to “pay a little more and get some comfort the service you’re using.”
The money expert also flagged that some viewers may be due a ‘warm home discount’ this winter.
He explained that this is a “£140 credit towards your energy bills”, for those who may need some assistance in paying their bills.
Martin noted, “For pension credit, it is automatic.” He also revealed that people on some benefits can receive the discount too. However, he did explain that “not every energy firm gives this”, so if you think you may be eligible, it’s worth investigating with your provider.
The financial expert and TV presenter also shared the importance of ensuring you have boiler cover this year, and explained to viewers that, “you do not have to get your boiler cover from your energy firm!”
He also revealed that switching might not necessarily be the best bet to help you save money too. Martin said, “Don’t want to switch? Take the best price and haggle!”
His final tip for the evening was a simple one – Martin said, “Check your stopcock now, as bursts and leaks can from frozen pipes. It can cause terrible damage if it leaks. The stopcock is your mains water off switch inside the house.”