Martin Lewis reveals how to slash energy bills by up to £350 during coronavirus pandemic

4 May 2020, 12:15

Martin Lewis has revealed how families can save hundreds on energy bills
Martin Lewis has revealed how families can save hundreds on energy bills. Picture: ITV

Financial expert Martin Lewis has urged This Morning viewers to change their energy suppliers to save hundreds.

Martin Lewis has urged people to consider changing their energy suppliers to save up to £350 a year.

The financial expert appeared on This Morning today to talk to presenters Holly Willoughby and Phillip Schofield about how the coronavirus pandemic has reduced energy prices.

Speaking on his show, he told viewers plummeting oil prices has had a knock on effect.

He told Holly and Phil: “This is one of those rare silver linings seen on the news, oil price went negative last week, which hasn’t happened in 17 years.

“This has contributed to energy bills and means switchers tariffs are at their lowest rates for three years.”

Martin Lewis has urged This Morning viewers to change their energy tariffs
Martin Lewis has urged This Morning viewers to change their energy tariffs. Picture: ITV

With more people staying at home during the coronavirus lockdown, Martin pointed out that keeping energy bills low is more important than ever.

Read More: Martin Lewis reveals what will happen to your holidays if Government decide to lift travel restrictions

He continued: “This is the time to be switching your energy bill, over the next year you will be getting real cash in your pockets at a crucial time.”

Opting for a fixed term contract would ensure the deals stay cheap for a year.

Based on typical usage, Martin revealed that households could save as much as £350 a year if they look at other providers.

Martin continued: "It includes companies like Tonik, Green Network, Avro, British Gas and EDF, for new customers only.

"Use comparison websites to do market comparisons as some of the sites filter out companies that don't pay them and you want to go across the whole of the market.

He finally added: “I urge everyone to check their bills right now and switch.”

Find out more information here.

This comes after Martin also told viewers how they can reduce water bills by buying free water saving devices to install at home.

Using the website Save Money Save Water, Martin explained that households can purchase things like shower heads and taps to limit water usage.

Now Read: Martin Lewis reveals students could be owed accommodation refunds under new guidelines