Martin Lewis on the energy crisis: Was the advice to DO NOTHING since October right?

Were households right to follow Martin Lewis's "do nothing" energy mantra and stick with the price cap since October 2021? Martin answers this question in his new video on the energy crisis below, as well as explaining what might be next for energy bills.

[ajayb]

Martin! If your reading this! Thank you for all your help and taking your time to teach us.

[aaronmccardie]

Such a honest gentleman I've been using his web site for years and he's saved me money.

[darrenschutte]

Such a respectable man! I really appreciate that he is always trying to help with nothing to gain.

[denisejones]

Perfect advice, I will always take his advice. Thank you Martin

[alexandertomlinson]

Thank you as always for your genuine advise. I am thankful for your insight. You have saved my family a fortune over the years so thank you.

[rogerhawley]

Our fixed rate expired 19th October. We were paying £120 per month. We were offered a 2 year deal at £268 a month. We took Martin's advice and went for a variable tariff stll paying £120. So far we are still in credit. Could be our new CE system and energy efficient tumbler but Martin's advice has saved us nearly £600 so far. Thanks Martin.

[beltingtokra]

It's an impossible situation. As a single income household, I was switched to BG and had the chance to fix til 2024 instead of the price cap. I thought about it, and am ultimately glad I fixed. It was 20% above the current price cap. Yes if wholesale prices go down I will be paying more, but I'm glad I have security. Tough call though!

[ian]

Had a call from Scottish Power about my current fixed term tariff which end on the 31st January. The best fixed term tariff they could offer was £287.00 per month. An increase of 150%!

[evieemaya]

not a worry martin, if anyone who follows your advice, the amount you have saved us over the years makes up more than enough and beyond if you were one of those who should of switched. But you always stated it was a best guess and everyone was aware, keep being who you are and helping us out.

[johnaistrup]

Thank you for that Martin!
Message to our excuse of PM: That is how an apology is supposed to work Bozo! Heartfelt, real and sincere!

[caroljacobs]

Martin just carry on with what your doing. You cannot be accused for making people doing the wrong thing. It's their choice. You are such a clever man and I'm glad you give out the advice. X

[butlergaming]

Great video Martin - just wanted to say that your advice earlier in the year really did help me out. I was on a fixed tariff of 42.50 a month that was ending by November 2021 with EON and, in September, I decided to take a look early to try and pre-empt the price hikes and got a price of £87 with EON on a 2 year fixed to last until 2023 - at the time I baulked as it was over double what I was paying, but now on comparison sites the cheapest monthly rate for gas and electricity for me is £115.57, with a high of £153.33 a month, so I really benefited from pre-empting it otherwise I would have been hit by a much bigger hike than I did when changing in September.

[redlady]

It's been a very unusual situation so can't be helped that you couldn't predict it. Appreciate you doing your best and usually get it right.

[lifeonmars]

Martin, you have helped sooo many people and will continue to do so because you're a marvelous person. We appreciate all the help you give us. Thank you so very much ❤

[southerncomfortuk]

Thank you once again Martin for the excellent information. We followed your advice last year. Sadly the energy company we switched to went bankrupt before they’d even taken one payment. It ended up with us being ‘moved’ (without our knowledge) to Octopus, but still ended up in a better position than if we hadn’t switched. Not sure about the way the government is ‘selling’ the council tax band A-D support though. As always, a lot of people who fall just outside this criteria will lose out and it doesn’t follow that they’re high earners. Many single household elderly residents and self employed people who haven’t been able to work throughout the pandemic won’t be eligible, it hasn’t been very well though through.

[richyrp]

I listened to your advice 6 months ago and ignored it. Signed up with EDF on a three year contract doubling my gas and higher ele. Wasn’t thrilled paying so much more but I am now after the new rises.
Still love your work and use your money saving expert site all the time.

[jaybo]

Well done Martin you are a genuine nice man.I.am worried that I will not be able to afford the increase, my hubby and I work, low pay, we will not get any help

[evodave]

I would be paying a lot less in April had I ignored the advice and fixed in October but nobody could have predicted the way things panned out. Will still always look out for Martin's advice

[kaytowsey]

I’m sorry I’m not sure I totally understand the percents etc, but do understand how it all works to a point. Thanks for caring. Sad and cold times ahead.

[warrentimothy]

I moved house on December 1st, and rang the new energy supplier (Eon Next) who offered be on the price cap, or do an 18 month flex tarrif which was about 12% higher for gas, and 5% for electricity. I took the 18 month tariff. I feel incredibly fortunate.