Martin Lewis says energy crisis could mean the end of switching – for now

Martin Lewis said the energy crisis means an end to consumers switching to find cheaper deals – for now.

The money saving expert gave his verdict on what could happen next after the gas shortage affecting prices in the UK.

Asked by an audience member on his ITV money show if it meant the end of switching, Martin said: “Probably yes, for now.”

He said it was important to remember that those who have been regular switchers had been able to save thousands of pounds over the last few years.

However Martin believes that switching will return in due course.

He added: “It is for now, I think it will be six months to a year before it comes back to anything like it was.”

He said: “If you were on one of those cheap tariffs don’t think it wasn’t worth doing because all you’re going to do now is move to the price cap which is the price you would have been on if you hadn’t switched.”

Martin has urged customers to log into their energy company’s account this week, take a screengrab of how much credit they have and what their bill is.

Asked by one consumer if she should change companies now, he said: “If you’re on a cheap fix I’d just stick on it as long as you could, even if you get an extra three weeks.

“Take the cheap prices while you can.”

The Martin Lewis Money Show is on ITV every Thursday at 8.30pm.

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