Martin Lewis reveals how to slash your energy bills and 'save hundreds' for the next 16 months

A finance guru has told Brits to take action immediately to secure savings on their energy bills over the forthcoming 16 months. Martin Lewis, the founder of Money Saving Expert (MSE), has highlighted that many homes could slash their energy costs by up to seven percent with a few adjustments.

In an article written for MSE, Martin implored individuals to contemplate moving to a more economical energy price-capped tariff. With the energy cap having surged in October and January, it's anticipated to climb once more in April.

However, Martin pointed out that there are certain deals available which could help consumers sidestep this increase. He detailed: "Most homes are on an energy price capped tariff. The cap went up 10 percent on 1 Oct, up another one percent on 1 Jan and it's now predicted to go up three percent to five percent on 1 Apr."

"Yet act now and you save now, and can prevent future hikes." Martin underscored: "The easiest and safest route is fix now."

For those still puzzled about what the cap entails, he confirmed that it's not an absolute cap on expenditure but rather a ceiling on the daily standing charge and per-unit cost of energy, meaning "so use more, pay more".

Martin went on to say: "Most firms charge at the limit, and these limits are high now, meaning the price cap is a pants cap, as most can easily compare and switch to a cheaper deal." This advice, he noted, is pertinent to the majority of UK homes, with approximately eight out of ten households being on a price capped tariff.

If you're not sure about your current energy deal, you can always check with your provider or use the online MSE comparison tool. "Move to the cheapest fix and within five working days you'll be paying typically seven less