Cutting your costs, fighting your corner
Forimmediaterelease Friday 3 February 2017
Responding to the news that Npower is putting its prices up by nearly 10%, Martin Lewis, founder of MoneySavingExpert.com, says: “This is the second of the big six to announce price hikes. They’re not clinging together as tightly as they normally do, doing it one after the other. But almost certainly by the end of April we will have seen all the big six firms having hoicked their prices by between 5% and 10%. And as always, it’s worth remembering that these hikes hit people on standard tariffs. That’s the vast majority of people – 66% – and they’re already overpaying by typically £200 a year.
“Do not groan, moan or whinge. Take action. Everybody, with every firm, should make sure they’re on the very cheapest tariff. The best thing to do is a whole-of-market comparison, but even if you’re not willing to do that, call up your existing company and say ‘Am I on your cheapest deal?’ Most people aren’t, and hundreds can be saved just by one phone call.”
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About MoneySavingExpert.com: MoneySavingExpert.com is dedicated to cutting consumers’ bills and fighting their corner. The free-to-use consumer finance help resource aims to show people how to save money on anything and everything, and campaigns for financial justice. Set up in 2003 for just £100, its free-to-use, ethical stance quickly made it the UK’s biggest independent money website, according to internet ranking site Alexa.com, and the number one ‘Business and Finance – Business Information’ site, according to Hitwise. It has more than 12 million people opted-in to receive the weekly Martin’s Money Tips email, and more than 14 million unique monthly site users who visit more than 24 million times a month. In September 2012, it joined the MoneySupermarket.com Group PLC.
About Martin Lewis: Martin Lewis OBE, Money Saving Expert, is the journalist and consumer campaigner who created MoneySavingExpert.com, the UK’s biggest money website. He’s the UK’s most internet-searched man, Citizens Advice’s Consumer Champion of the Year, and has spearheaded major financial justice campaigns including bank charges reclaiming (over six million template letters downloaded) and PPI reclaiming (over five million) and a successful large-scale campaign to get financial education in schools. He has his own prime-time ITV programme, The Martin Lewis Money Show, as well as regular slots as resident expert on Good Morning Britain, This Morning and Radio 5 Live, among others.He was appointed OBE in the Queen’s Birthday Honours in June 2014.