Martin Lewis issues 'peace of mind' update to British Gas, OVO, Octopus customers

Mr Lewis has warned that now is the time to compare energy prices and consider fixing into a new deal

Martin Lewis has issued a "fix now" warning after the Ofgem energy price cap rise. In the latest MoneySavingExpert.com (MSE) weekly email, BBC Sounds and ITV star Mr Lewis has warned that now is the time to compare energy prices and consider fixing into a new deal

Writing on the weekly Money Saving Expert (MSE) newsletter, Mr Lewis said: "You can lock in for a year and you won't face the 10% rise. This is the MAIN OPTION for most people right now." The BBC regular explained: "Exact prices depend on where you live and what you use, so go via our Cheap Energy Club comparison to find your bespoke cheapest (it'll also have the latest tariffs, in case things have changed by the time you read this)."

He said: "The cheapest fixes are slightly cheaper even than the prior Price Cap, so you can lock in for a year and you won't face the 10% rise. This is the MAIN OPTION for most people right now, it should be seen as the default choice, the other options below are just alternatives.

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"Fixes are designed to give you peace of mind that you know exactly what you'll pay for a set time. Remember, though, it's the rate you pay for energy use that is locked in, not the total price. So, use more, you pay more - use less, you pay less."

Outfox the Market Outfox the Price Cap (Oct 24) Fix'd Dual v2.0. is a 9.4 per cent saving compared with today's Price Cap. EDF Essentials 1yr Oct25v3 is a 8.9 per cent saving compared with today's Price Cap. British Gas has a tariff at a 8.8 per cent saving, as does OVO and Octopus.

MSE said: "Full details in our energy comparison, which also includes non-standalone tariffs - ie, those that require you to get other products, eg, broadband or boiler cover, to get the price."