Energy: Martin Lewis issues advice on direct debits

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Martin Lewis has issued new advice to Britons struggling with energy usage. The founder of MoneySavingExpert has suggested only using high energy appliances outside of peak hours.

Posting on Twitter, he said: “When’s best to use high energy appliances eg tumble dryer?

“Most don’t have time-of-use tariffs, so there’s no price difference (if you do, night’s cheaper). 

“Yet peak use is 4pm-9pm so for UK’s energy security not then is better. If uv solar panels use appliances in daylight hrs.”

In another post, he said: “Surprised by a few angry replies of ‘I wont be putting my dryer on at night its a fire risk’. 

“a) No one says you should this is about info so you can choose and isnt just about tumble dryers

“b) There are 19 hours in the day outside 4pm-9pm, many of them are not in the night.”

Mr Lewis has been outspoken about the cost of living crisis throughout 2022, and staggered Britons in September when he admitted he had no answers.

He was asked on ITV’s This Morning about the “ticking timebomb” homeowners face with mortgage repayments are set to rise.

The expert told the show “I don’t know” and shrugged his shoulders when asked about the situation which could see interest rates rise to 6 percent.

He said: “The situation now is bad and if those interest rates go up as has been discussed.

“And it’s not certain that they will but that is what the markets are predicting then we are going to have millions of people in that and we are sitting on a mortgage ticking time bomb.”

Mr Lewis has been outspoken about the cost of living crisis throughout 2022, and staggered Britons in September when he admitted he had no answers.

He was asked on ITV’s This Morning about the “ticking timebomb” homeowners face with mortgage repayments are set to rise.

The expert told the show “I don’t know” and shrugged his shoulders when asked about the situation which could see interest rates rise to 6 percent.

He said: “The situation now is bad and if those interest rates go up as has been discussed.

“And it’s not certain that they will but that is what the markets are predicting then we are going to have millions of people in that and we are sitting on a mortgage ticking time bomb.”

It comes after National Grid warned households and businesses across the UK could face planned power cuts this winter, if the country is unable to import electricity supplies from Europe.

The National Grid warned that in the “unlikely event” that the company fails to secure gas supplies, consumers could face a situation where they are left without power  for “pre-defined periods” during the day, in a effort  to “ensure the overall security and integrity of the electricity system across Great Britain”.

However, the company warned that planned power cuts would only take place if the electricity imports from Europe were reduced and there were also insufficient gas supplies for power stations.

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Meanwhile, the Treasury deleted an energy announcement on Twitter after Mr Lewis called it “nonsense”.

The Treasury’s tweet said: “Thanks to the Growth Plan, a typical first-time buyer in London moving into a representative terraced house will save £11,250 on stamp duty and £1,050 on the household’s energy bills – and, if they earn £30,000, almost an additional £400 on tax. This is around £12,700 in total.”

However, the MoneySavingExpert founder hit back at the Treasury and said: “This is nonsense. To make that stamp-duty saving, you’d need to be buying a £500,000+ property.

“With 10 percent deposit, cheapest-fix mortgage would cost £2,400/month (£28,000/year). How can someone on £30k afford that. I am asking Treasury to remove.”

The tweet was deleted and a Treasury spokesperson said: “While the figures used were statistically accurate, we recognise that certain assumptions were made about the profile of the typical first-time buyer which were not reflected in this tweet.

“We take responsible messaging very seriously – which is why we have deleted the tweet in question.”

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