Martin Lewis warns British Gas, OVO, EDF, EON and Octopus customers who are on 'default tariffs'

Martin Lewis warns British Gas, OVO, Octopus customers on 'default tariffs'
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Martin Lewis has warned British Gas, OVO, EDF, EON, and Octopus customers "nobody" should be on the price cap. The Money Saving Expert spoke out as the new Ofgem energy price cap kicks in, taking bills to an eye-watering £1771 today.

BBC and ITV star Mr Lewis, the founder of the Money Saving Expert website, told consumers that you are “ripping yourself off” if you stay on the default tariff. “Nobody should be on the price cap but 85% of people are,” he said.

He told BBC Radio 4’s Today programme: “We should probably call it a pants cap at the moment. If you are staying on the price cap right now you are ripping yourself off. There are fixed rates available that are cheaper than yesterday’s price cap [before it went up by 10%] and you can lock in for a year.”

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Analysts think the price cap will remain about the same when it reassesses the level in January, the MSE consumer champion commented today. Elise Melville, energy expert at the comparison site Uswitch.com, said: “The current cheapest fix is from Outfox the Market and costs £1,555 for households with average usage, which is £162 less than October’s price cap."

Mr Lewis said it was wrong that a “90-year-old grandpa with onset dementia … will pay more to boil a kettle than I do”. It’s an “unfairness in the system”, he said. In a statement, David Buttress, the chief executive of Ovo Energy, agreed.

The OVO chief spoke out and moved to call on the government to introduce a social tariff. “A social tariff would allow us to address the cost of energy for the poorest in our communities in a way that means, collectively, we could give them the protection they need to get through the winter months,” Buttress said.