Martin Lewis urges British Gas, OVO, Octopus customers to act and be handed free £161

British Gas, OVO, Octopus and E On customers can save £161 by switching to Outfox the Market or E ON.

Martin Lewis has issued a warning to British Gas, OVO, Octopus and E On customers - explaining how they should consider switching to EDF. British Gas, OVO, Octopus and E On customers can save £161 by switching to Outfox the Market or E ON.

“So as we’ve just seen, energy is going up. It’s not coming down. It’s going up on the first of October. It’s likely to come down a tiny bit in January, but it will be a lot more than it is right now," Mr Lewis said on ITV Good Morning Britain today.

Chatting to his co host Susanna Reid, the Money Saving Expert founder said. "Now these wholesale rates coming down, the price energy firms pay coming down means they’re offering cheaper tariffs now than they were a couple of weeks ago.

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"So bizarrely energy prices are going up if you’re on the price cap. But the cheapest rates available if you’re going to switch, are coming down.” He said: “Outfox The Market is the cheapest fix. Right now it is 9.4% cheaper than the October price cap on average.

"So on the new price cap and 0.8% cheaper than what you’re paying. So you could drop a tiny bit now, But from next week, you’re going to be paying 9.8 per cent less than the new price cap. EDF has a that basically says you can fix now at the current rate.

"So you just simply don’t get that price, right? That’s it. You just don’t stop the price rise. So you’re asking me, should I fix? I would say for the vast majority of people who are risk averse and don’t want to see prices going up, fixing now is the safe option.

“This is not about getting a fix. This is about getting a cheap fix. If you’re going to lock in a price, you want to lock in on the cheapest fix you can get. So if I just run through. I mean head and shoulders above the road.

"Outfox the Market and EDF are substantially cheaper than any others than the Octopus 15 months fix that you talked about is 7% below the October price.”