Martin Lewis says people who pay an energy bill can act now for a £121 saving. The BBC and ITV star spoke out over seven per cent discounts on energy bills on the current price cap – if you are savvy and fix in at a lower rate.
Between 1 January to 31 March 2025 the energy price cap is set at £1,738 per year for a typical household who use electricity and gas and pay by Direct Debit. “Should you fix your energy bills? 80% are on the price cap, you can fix now at 7% less than it,” Mr Lewis said.
“What counts is will the price cap rise, watch this…,” the 52-year-old Money Saving Expert founder went on to say. Replying to a Twitter/X user, Mr Lewis then said: “Yes. Fix.” In reply, a social media user asked: “I watched @itvMLshow last night.
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“And after checking our annual usage took the plunge and switched to @eonenergyuk via your energy club. Saving £190 per year. I hate anything to do with numbers and kept putting it off so thank you.” A second typed: “I’m with Octopus with just over £400 credit.
“Their fixed rate is a consistent 10%+ more than I already pay whenever I enquire.” A third said: “Can someone explain. I’ve been on the octopus tracker the past 12 months which tracks against wholesale prices this has been consistently lower than the price cap so why has the cap just gone up and predicted to go up again?”
“I’m already fixed till july25. Should I fix again now for another 12 months. BG currently saying it’ll cost me £8 more a year to fix new fix,” another wrote. “Need to fix the money before we spend countless hours jumping from one deal to the next,” another wrote.
“Running forever because of a broken system. I admire the work you do, and you do a good job but the money is broken,” said another. Another wrote: “Best if you can fix for 5 years, under a Labour government the cost of energy will carry on rising, Miliband will guarantee that future.”
Another said: “The Government should supply energy to everyone at the cheapest possible rate, this tariff nonsense is there to confuse us and make us pay more. I used your tool and I am still confused. All @OctopusEnergy want to do is enforce a smart meter on me. @switherdenMP @KenSkatesMS”