Martin Lewis reveals real energy bill savings in withering OFGEM price cap assessment
Speaking on Good Morning Britain on the morning of the announcement (23 May), Lewis explained the figure is based on an annual saving - but the price cap is reviewed every quarter.
'OFGEM quotes this 'typical use' figure which is meaningless because nobody is average - almost everyone is above average or below average on their use,' Lewis said.
'You can't save £129 a year because the price cap only lasts three months and it'll move again in October.'
The finance guru revealed a 'far better way' to calculate savings - based on every £100 spent now, versus in July, when the price cap changes come into effect.
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