Energy firm British Gas is offering to hand customers a £95 saving with just one change.
Martin Lewis’ Money Saving Expert website is telling customers about a cheap fix which guarantees you an average of £95 off your energy bill if you change to it now.
The saving is equal to 5 percent off the current price cap and would be locked in for one year.
It comes as energy firms like British Gas, EON and EDF make fixes available which are cheaper than the price cap, in a move which has barely been seen since the cost of living crisis.
The price cap, currently set at the equivalent of £1,690 per year for a typical household, does not apply to fixes so you could technically pay more than that, and still fix at higher than the cap if the cap significantly drops.
Energy analysts at Cornwall Insight think prices will fall in July and rise again in October, making the average saving over the next year about 3 percent, so it’s up to you to decide whether a fix is right or you want to gamble on the price cap dropping further.
The British Gas one year fix is open to both new and existing customers and can be dual fuel or single fuel – and it doesn’t require a smart meter.
If you change your mind though, there’s a £50 early exit fee which could wipe out much of the saving.
