Martin Lewis issues two-word instruction to British Gas, OVO, Octopus, EDF customers

Martin warned energy customers to act "now" to avoid "ripping yourself off".

Martin Lewis has issued a two-word verdict over the £149 energy price cap rise after the new £1717 Ofgem cap kicked in - saying: "Get off". The BBC Sounds presenter, ITV regular and Money Saving Expert founder Martin warned energy customers to act "now" to avoid "ripping yourself off".

He said: “We should probably call it a ‘pants cap’ at the moment. If you’re staying on the energy price cap now, you are ripping yourself off.” He added: “Get off the Price Cap! Now's the time to compare energy.”

He said: “If you have fixed your energy tariff you are NOT on the price cap. So the suggestion to ditch the price cap doesn't apply to you. You've already ditched it. The price cap is only on standard variable, ie default tariffs, which you're on if you've not actively switched.”

READ MORE Martin Lewis issues 'must do' task for energy customers

Outfox the Market’s Outfox the Price Cap (Oct 24) Fix'd Dual v2.0 deal offers the cheapest rate, priced 9.4 per cent less than October’s price cap. EDF’s Essentials 1yr Oct25v3 tariff, which also accepts those on smart prepay, is offering a rate priced 8.9 per cent lower than today’s price cap.

Mr Lewis added in an update via X, formerly Twitter, yesterday: “Lots of ‘I don't want to switch because you have to have a smart meter to do it.’ That's not correct. Of the four cheapest fixes on the market, two require you to have a smart meter, two don't.

"So switch to your cheapest that doesn't (who your exact cheapest is depends on use and region hence why I say do a comparison).” Uswitch also flagged tariffs from Ovo Energy and EDF Energy offering savings of about £150.

However it is worth noting that some fixed-rate deals come with penalties for moving away within the fixed or discount period, customers are told.