Martin Lewis shares advice to UK households amid energy crisis
The Money Saving Expert founder was speaking on This Morning ahead of the return of the Martin Lewis Money Show on ITV on Thursday night.
The cash-saving guru issued important advice while chatting to hosts Holly Willoughby and Phillip Schofield.
Martin warned that it is vital customers go online and collect all of their latest bill details.
I just said on @thismorning whatever energy firm you are with take a screen grab of your current bill and credit status just in case. On the back I’m having reports of websites down. Don’t panic. This is likely just an effect of lots of people trying at once.
— Martin Lewis (@MartinSLewis) September 23, 2021
He warned how some experts predict as many as 30 energy suppliers could cease trading as a result of the ongoing crisis.
He told viewers: "Wholesale gas prices here are up to six times what they were last year. So energy firms are paying up to six times what they were last year.
“And that is a big problem, not just for gas, but for electricity, too, because much of the UK’s electricity production is now dependent on gas power. So it means energy prices as a whole have exploded.
“To put that in context, the cheapest fixed deals that you can get today are 60 percent higher than those who got the cheapest deals at the same time last year.”
He continued: "If you’re watching this, I don’t care who your energy provider is. It’s probably not an issue if you with the big six, but let’s do it anyway.
"If you’ve got an online log, go onto your computer, take a screen grab of what your current status of your bill is, where you are with the credit you have, and just grab the information.
"Because when energy companies go under, they do it very, very quickly without warning. And they tend to pull their websites down.
"At least this way – I’m not saying it make that big a difference – You have a level of protection on it.”
Martin Lewis issue advice on what to do if your energy provider goes bust
Giving advice to customers who has seen their energy supplier go bust he said: "There’s a thing called the Ofgem safety net. And what that does is you will be it to what they call the supplier of last resort. You’ll be moved to a new firm, and that will happen automatically.
"And you don’t need to do it. All you need to do when you know your provider has gone bust is take a meter reading and sit and wait until you’re told your suppliers be moved across.”
He added: "I should say the most important thing that people worry about, your energy supply will not go off.
"You will not be cut off. Your energy will keep coming through.
Ofgem issue advice amid UK energy crisis
Ofgem said that it would ensure that Avro’s 580,000 domestic gas and electricity customers, and Green’s 255,000 households would be protected.
The regulator will choose a new supplier for the households, and said customers should wait to be contacted by their new supplier.
“I want to reassure customers of Avro Energy and Green Supplier Limited that they do not need to worry. Under our safety net we’ll make sure your energy supplies continue,” Ofgem director of retail Neil Lawrence said.
“If you have credit on your Avro Energy or Green Supplier Limited account this is protected and you will not lose the money that is owed to you.”