Martin Lewis, 48, explained to Britons tonight that they could be paying too much for their energy bills. He advised Britons to take regular meter reading to ensure that they are paying the correct amount.
Speaking on the show, the expert explained that energy companies could be owing customers hundreds of pounds if they are in credit.
He said: “If you pay by monthly direct debit, you’ll know that’s done to smooth your bills out, what they usually do, not in every case, is they work out how much you use in a year and they divide it by 12 and that’s what you pay.
“But these can be wildly wrong so I have some tasks for you now.
“First I want you to ensure that you have given an up to date meter reading, then go and check, are you in credit with them or are you in debt with them?Insurance Loans Mortgage Attorney Credit Lawyer
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Martin Lewis: How to slash your energy bills - you could be owed hundreds (Image: Getty/ITV)
Martin explained that energy companies could be owing customers money (Image: ITV)
“The level of credit you should be in depends on the energy direct debit cycle…let me show you that here.
“What’s really interesting is you will continue to build up you debt all the way usually until usually the start of May and then you start you start to build your credit back up until around November when you start to build debt up again.”
Martin then used a chart to explain how energy bills work.
“This pattern is for someone who’s started January 1,” he explained.
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