The MoneySavingExpert founder has been sharing his advice as the winter months approach
Martin Lewis told people they were ‘being ripped off’(Image: PA Archive/PA Images)
Martin Lewis, the popular money-saving expert, has shared a tip that could save Brits hundreds of pounds over the winter months. Some have already reported success, meaning more money stays in their bank accounts instead of being spent on gas or electricity as the cost of living crisis continues.
Martin Lewis is famed for his savvy financial advice that can stretch budgets further with just a few simple adjustments. As winter approaches, homeowners often seek advice about energy bills, as demand on the utility networks surges during the colder months, leading to higher bills.
In a post on X, Martin wrote: “The Price Cap rose 2% [on October 2] and will stay high across winter. Yet many can save £100s.”
The MoneySavingExpert.com founder followed up with another post informing people that they’re “being ripped off on energy bills” by adhering to the price cap. He added: “If you aren’t on a fix or special deal, give [my podcast] a listen, many can save £100s.”
Martin directed people to the Cheap Energy Club page on his website. This free tool automatically displays all potential tariffs customers might be eligible for, reports the Mirror.
Content cannot be displayed without consent
People can register to use the Cheap Energy Club tool at no cost. If they don’t already have one, the page will guide them to set up an MSE account (also free).
One of Martin’s followers responded to his post with a success story, which should encourage others to consider switching, as it could lead to significant savings. Seep (@seephothi) shared: “I just went through the app and changed to British Gas and saved £90 a month!”
Over the span of a year, this homeowner will have an extra £1,080 in their bank account. They further explained: “From what I was paying before to what I pay from the switch, it’s £90 a month. I was on a flex tariff on EON and the switch has saved me £90 a month.”
People could stand to save hundreds by switching(Image: Getty Images/iStockphoto)
Opting for a fixed tariff, rather than a flexible rate for a certain period, offers some protection against future energy price hikes.
What exactly is the energy price cap? What is it right now?
Ofgem, the UK’s energy regulator, sets the energy price cap—the maximum amount energy suppliers can charge per unit of energy and standing charge if you’re on a standard variable tariff. Earlier this month, the body increased the cap by 2% and set the maximum rate at £1,755 per year for a typical household using both electricity and gas.
The rate is due to change again in January 2026, following the cold winter months when demand for gas and electricity to heat homes is at its peak. Ofgem confirmed on its website that the price will be determined by November 25, 2025, and it’s expected to drop slightly.
The Price Cap is determined by various costs that energy suppliers incur. The most significant cost is wholesale energy, which is the price energy suppliers pay for gas and electricity. Other factors include the expenses of maintaining the infrastructure that delivers gas and electricity, as well as the operational costs suppliers encounter for billing customers and providing metering services.
