Martin Lewis urges British Gas, OVO, EDF, EON, Octopus customers to 'stop' £149 charge

The Money Saving Expert has discussed wholesale gas and energy prices ahead of the new October 1 price cap, which begins on Tuesday.

Martin Lewis has issued a "perverse" warning to British Gas, OVO, EDF, EON and Octopus customers. The Money Saving Expert has discussed wholesale gas and energy prices ahead of the new October 1 price cap, which begins on Tuesday.

"Perversely while price cap rises next week (as its set based on a time lag) wholesale prices have softened meaning firms can offer cheaper fixes (as they're based on current prices). Ill be explaining how you can take advantage and STOP the 10% price hike on @gmb this morning," BBC and ITV star Mr Lewis said.

The £149 hike to the price cap will see it rise to £1717. Writing back to Mr Lewis, a fan said: "Timing is everything. Catching the right fix now could make all the difference for the months ahead." A second said: "1/2 Just checking... How do you define "current prices"?

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"I ask because I have, until now, been under the impression that most oil and gas, which the electricity generating companies use, is bought in the *futures* market. So, the price you fix in September..." A third said: "Taken a 15 month energy price fix & it is less than I currently pay."

"Or maybe the government could grow a pair and stop all this nonsense. My friend in France is having their electricity costs reduced by the same amount next week because of the “softening”. Rip off Britain at its finest," another social media user wrote.

"why are they allowed to profiteer like this, maximising profits and exploiting people with a fundamental utility," another fumed. "Hey Martin, any chance your website has a list of the cheapest deals you can get without a smart meter? Can't find one," another fan commented.

Another asked: "Hi Martin, how about tariffs for EVs?" And another said: "Is there any point in OFGEM?"