Money-saving guru is keeping fingers crossed
ITV presenter and financial expert, Martin Lewis, has shared an insight into his meeting with a Derby MP and the Secretary of State for Energy Security and Net Zero.
The MoneySavingExpert.com founder confirmed he held a meeting, albeit virtually, with the Conservative MP for Derby North, Amanda Solloway, and the Secretary of State, Claire Coutinho.
The BBC Sounds podcast host tweeted on his X account, formerly Twitter, on Monday, March 25. He said: “Just had a virtual meeting with @ClaireCoutinho (Sec of State for Energy) and @ASollowayUK (Minister for Affordability).
“Amongst other things, I was pushing on: standing charges being too high, lack of competition (and comparison difficulties as time of use
tariffs come in), too many broken smart meters (and the way firms must push new installs) and social tariffs. “It was a good constructive discussion, they were already engaged in most of these and were in listening mode. So fin
gers crossed we see some development – things are never quick though.”
On Tuesday, Amanda Solloway tweeted: “Good to meet with @MartinSLewis to discuss the steps we’re taking to make sure customers are protected in our energy market.
“Energy prices are soon set to fall to their lowest level in two years – but our work continues to keep costs down and support families.”
Claire Coutinho responded to Martin’s tweet, thanking him for a “constructive meeting.” She said: “Thank you for a constructive meeting, Martin. We want to make sure consumers get a fair deal for their energy and that families can make the most of our money-saving market reforms.
Since the tweet, the financial guru has named three energy tariffs he would consider switching to ahead of bill changes coming in April. He explained whether it is worth ‘locking in’ a deal now ahead of potential future increases in how much you pay for gas and electricity.
Speaking at the Ideal Home Show, Martin said: “We are in an interesting position at the moment, as the wholesale rates of energy that firms pay is increasing, but the rate at which we pay is not decreasing as quickly.
“What the vast majority of people in the country pay is dictated by the energy price cap which is set by Ofgem, which says that the maximum standing charge (if you are on the standard tariff), then firms can go lower in price, but they don’t, so effectively Ofgem sets the price.
Thank you for a constructive meeting, Martin. We want to make sure consumers get a fair deal for their energy