Martin Lewis, the personal finance guru, warned that if you stick to the energy price cap, you are “ripping yourself off”.
“Nobody should be on the price cap, but 85% of people are”, he previously told BBC Radio 4’s Today programme .
Most of the major providers have fixed-rate deals that are below the cap.
According to his moneysavingexpert.com website: “If you find a fix for less than the current (Oct to Dec) Price Cap, it’s predicted you’ll save over the year compared with staying on the Price Cap.”
“The price cap is predicted to fall slightly in January, but this would still leave energy costs 8% higher than fixed deals currently available,” said Elise Melville, an energy expert at Uswitch.com.
She added: “You don’t need to keep paying more.”
