Martin Lewis, the UK’s well-known money-saving expert, has issued important advice to energy customers as a shake-up of the energy price cap is set to take effect from 1 April 2026. Industry expectations and announcements from the energy regulator Ofgem indicate that the energy price cap will be reduced by around £117 a year for a typical household — a drop of roughly 7% compared with current levels.
Speaking on The Martin Lewis Money Show on 24 February 2026, Lewis told viewers that this expected reduction in the default tariff means many people should consider shopping around for a better fixed-price energy deal if they are not already tied into one. His key message was: if you are not on a fixed tariff with exit penalties and can find a cheaper fixed deal than the one you have, it may be worth switching now. If not, staying on your current lower price might be better.
Lewis emphasised that consumers are “meant to be taking advantage of that competitive market”, especially ahead of changes coming in April that could meaningfully affect annual bills. Many households are expected to benefit from the price cap reduction automatically if they are on standard variable or default tariffs, without needing to take any action.
The upcoming cut is tied to decisions by Ofgem and government reforms, including the removal of certain policy costs and changes to how levies are applied. Ofgem confirmed the cap will fall to about £1,641 per year for a typical dual-fuel bill from April, from around £1,758 previously, which amounts to around £10 a month in savings for average users.
However, energy bills remain a significant cost for many households and the reduction, while welcome, is not expected to remove affordability challenges entirely. Consumers are encouraged to review their tariff options and consider switching providers if better deals are available.