Martin Lewis urges British Gas, Ovo, EDF, Octopus customers to come forward for free £121

Martin Lewis urges British Gas, Ovo, EDF, Octopus customers to come forward for free £121
-Credit: (Image: Reach Publishing Services Limited)


British Gas, OVO, EDF, Eon and Octopus customers have A WEEK to be handed a free £121 - all by locking in at a cheap fix. BBC and ITV star Martin Lewis, the Money Saving Expert, says the cheapest fix on the market right now is Outfox the Market.

Money Saving Expert founder Mr Lewis said: “The cheapest year-long fixes on the market right now are about seven percent less than the new October Price Cap, but they mightn't be around long. That looks a good deal, as it's currently predicted once rates go up they won't come down.”

He warned: “Don't just jump on any fix though – if you're going to lock in, you want to grab the cheapest for your use and location, so use a whole-of-market comparison, like MSE's Cheap Energy Club, and find out who will let you fix for less.”

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Outfox the Market’s Outfox the Price Cap (Oct 24) Fix'd Dual v1.0, which is a 12-month fixed rate tariff, is priced seven per cent cheaper than October’s price cap. It means customers could be handed a free £121 - with seven per cent off the £1717 price cap.

MSE says on its website: "The most important thing to understand is that price-capped tariffs are variable, and the prices change every three months in line with the Cap – with the next Price Cap change taking place on 1 October, when it will rise by 10% to £1,717 a year for a typical household paying by direct debit.

"So when considering if it's worth switching to a fixed deal, you need to look at what is expected to happen over the course of the next year. A fix that looks decent now could end up costing you more over the next year if energy prices drop."