The money saving expert has named his best fixed energy tariffs as bills go up for millions of households on October 1 - here's how you can save yourself money(Image: ITV)

Martin Lewis sends message to Octopus, OVO, EDF and British Gas customers as energy bills rise today

Energy bills are set to rise from Tuesday

by · DevonLive

Money-saving guru Martin Lewis has highlighted his top fixed energy tariffs ahead of the bill increases set to hit millions of households on October 1. Experts suggest many Brits could be better off switching to fixed accounts ahead of an upcoming gas and electricity price surge.

Energy prices are expected to soar by approximately 10 percent from today, October 1, adding further pressure on family budgets.

Currently, about 80 percent of homes are on a standard variable tariff, which means their charges fluctuate with the Energy Price Cap and global market changes. However, opting for a fixed tariff can give customers peace of mind by locking in their payment amounts for a set duration, reports Birmingham Live.

Martin Lewis recommends consumers review the fixed options on offer. His top five picks are detailed on his website, Money Saving Expert, where he provides a guideline for when it might be beneficial to switch: "Martin's rule of thumb for when it's worth switching: Some of this is crystal-ball gazing and averaging, but if the predictions above are right, our best guess is."

Martin's top five tariffs are:

  • Outfox the Market - Outfox the Price Cap
  • Ovo Energy - One Year Fixed
  • EDF Energy - Essentials 1 year
  • Octopus Energy - 15M Fixed
  • British Gas - Fixed Tariff 12M/Fixed Tariff Oct 25

He further advises: "Based on current published predictions, on price alone (not certainty)... if you find a fix for at least 2 percent less than the new (Oct to Dec) Price Cap (or up to 8 percent more than the current Cap), it's predicted you'll save over the year compared with staying on the Price Cap."