Martin Lewis reveals urgent energy savings before April price hike

Starting April 1, Ofgem's new energy price cap will increase by 6.4%, raising the average household bill from £1,738 to £1,849 annually. In anticipation of this hike, finance expert Martin Lewis has highlighted a competitive fixed tariff from British Gas that is 13% cheaper than the upcoming price cap. This British Gas Fixed Tariff v49, available through Money Saving Expert's Cheap Energy Club, locks in rates until July 2026, providing stability amidst rising energy costs. Customers are encouraged to consider switching to this fixed deal, which does not require a smart meter and includes cashback offers. However, Lewis warns of potential risks with fixed tariffs should market prices drop significantly during the contract period. The urgency is emphasized, as the deal expires March 28, ahead of the cap increase.