Martin Lewis urges customers to grab British Gas 13% off deal by 5pm Friday | Personal Finance | Finance
Martin Lewis is urging customers to grab a British Gas energy fix deal that is 13% cheaper on average than Ofgem’s April price cap – but is only available until 5pm on Friday.
The exclusive deal is available to British Gas customers and anyone switching from another supplier. The MoneySavingExpert (MSE) founder is urging people to take advantage of the cheap offer before Ofgem raises its price cap next week. From April 1, the average bill for households in England, Wales and Scotland on a standard variable tariff will rise from £1,738 per year to £1,849. The 6.4% hike equates to a £111 annual increase, or around £9.25 per month over the three-month period of the price cap.
The price cap sets the maximum rate per unit and standing charge that customers can be charged by suppliers for their energy use if they are on the standard variable tariff (ie not a fix), which for an average household paying by Direct Debit for dual fuel equates to £1,849 per year from April 1.
But it’s possible to beat the April price cap by switching tariffs and fixing at a cheaper rate – and Martin Lewis says this MSE deal is 13% cheaper.
In a post on X (formerly Twitter), he wrote: “British Gas customer, or on any firm’s energy Price Cap? UNTIL FRI theres a new British Gas fix, 13% cheaper than what the Price Cap rises to next week. It avail to new and existing BG customers (doesn’t need smart meter).
“Please share this with anyone who hasn’t sorted their energy bill before next week’s 6.4% rise. And sort it yourself if you haven’t. The link takes you through it step by step.”
MSE says it has landed the cheap deal via its Cheap Energy club comparison and only one other smaller firm – Outfox the Market – is currently offering a rate that is cheaper.
The exclusive British Gas Fixed Tariff v49 is for a 16 month fix – so the rate won’t change until July 2026 – and includes a special boosted MSE £35 dual-fuel cashback (£17.50 for gas or electric-only switches). It’s available directly from British Gas as well, although if you choose this option then you’ll lose the MSE extra cashback.
It’s for gas, electricity or dual-fuel customers and you don’t need to have a smart meter to get it. It can be paid by monthly Direct Debit, cash or cheque, but not by prepayment meters, and it carries a £50 per fuel early exit penalty – but you won’t be charged for this if you move to another British Gas fix.
Martin adds: “Of course, how it stacks up always depends on region and usage, which is why we do it via a full comparison. But in general, for those who want a big name – and, crucially, existing British Gas customers too – it looks strong.
“It’s 7.1% cheaper than the current Price Cap, and 12.7% cheaper than April’s. That April Cap lasts until June, so the saving’s locked in until then, and as I explain below, it’s also substantially cheaper than the current predictions for the Cap after that.
“The tariff’s full name is the British Gas Fixed Tariff v49. The saving includes a special boosted MSE £35 dual-fuel cashback (£17.50 for gas or elec-only switches) just for this tariff for new or existing BG customers only via our Cheap Energy Club.
“It’s worth noting for those on a Price Capped tariff that the saving shown is compared to today’s lower Price Cap, yet from next week, you’ll save far more than that.”
