Latest news with #OFGEM
Yahoo
23-05-2025
- Business
- Yahoo
Martin Lewis reveals real energy bill savings in withering OFGEM price cap assessment
Martin Lewis has dismissed OFGEM's claim of average annual household savings of £129 following a 7% price cap drop as 'totally misleading'. 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.
The Independent
23-05-2025
- Business
- The Independent
Martin Lewis reveals real energy bill savings in withering OFGEM price cap assessment
Martin Lewis has dismissed OFGEM 's claim of average annual household savings of £129 following a 7% price cap drop as 'totally misleading'. 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.
