Martin Lewis endorses new EDF tariff for low energy users | Personal Finance | Finance

Money-saving expert Martin Lewis has endorsed an innovative new energy tariff tailored for low-usage customers.

On his latest podcast, he praised a market newcomer for cutting standing charges, a frequent gripe of Martin’s, who has previously condemned them as resembling an „energy poll tax“ and a „moral hazard“.

Martin has often expressed frustration that standing charges disproportionately affect those who use less energy, as they pay the same fixed rates as high energy consumers. But now, there’s hope with the introduction of EDF Ensure, designed to even out the playing field, reports the Liverpool Echo.

He explained: „Let’s look at this new tariff it is called EDF Ensure. It’s a big difference, it tracks the price cap, so when the price cap goes up it goes up and when the price cap goes down as we know it will do by 7 per cent in July, it comes down too.“

„Except, it will have over a year £50 cheaper standing changes, a flat discount of £25 cheaper on electricity and £25 cheaper on gas. The unit rates will be the same as the price. Although actually it’s launched now at the new cheaper July unit rate so you get an extra 10 days or so of slightly cheaper rate, then you’ll be the same as everybody else once their rates come down.“

Martin highlighted the benefits of the new energy rate for low-usage consumers, saying: „If you’re using less than £100 a month of energy, this looks a good deal, you might want to switch to it because the standing charge have a disproportionate impact on you.“

However, he emphasised that „medium to high users“ should look around for more cost-effective options. Instead, he recommended the E. ON Next tracker for these customers, which generally provides a price 3 per cent below the cap and cuts unit rates instead of standing charges.

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