Martin Lewis explains when to fix energy tariff to secure a ‘good deal’

Energy bills are expected to marginally drop in October and as more fixed tariffs emerge, many are questioning what a ‘good deal’ really looks like. Financial journalist and founder of Money Saving Expert, Martin Lewis, answered the question posed to him on ITV’s This Morning programme earlier today, sharing his rough estimations of what fixed energy tariffs could be worth looking into. Addressing a viewer, who asked: ‘Should I lock into another fixed tariff or wait until the new year?’, Mr Lewis said: ‘Here’s what we currently think. Here’s what we know and then what’s predicted and then the crystal ball about what’s going to happen to energy prices. And this is about the price cap. ‘On the 1st of October, we know it’s dropping by an average seven percent. Then the prediction is in January, it’s going up by six percent. So it’ll be slightly cheaper than it is now, but still more expensive than it was from October to January.’ In April, Mr Lewis said the price cap is expected to fall again by three percent. However, he noted: ‘The further out you go, the more crystal ball gazing it is.’