Mini-pod: Energy Price Cap drops 7%, but it’s still pants!
The Martin Lewis Podcast
BBC
4.2 • 789 Ratings
🗓️ 23 May 2025
⏱️ 11 minutes
🧾️ Download transcript
Summary
Martin reacts to the latest Energy Price Cap announcement from the regulator Ofgem. The new cap coms into force from July, and applies to households in England, Scotland and Wales on variable tariffs. But what should you do now? With fixes on the market well below the cap rate, Martin explains how to get the best deals on your energy.
Transcript
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| 0:00.0 | BBC Sounds, Music, Radio, Podcasts. |
| 0:05.0 | I got meals. |
| 0:10.0 | I got to pay. |
| 0:12.0 | So I'm going to work for a world and every |
| 0:16.0 | I got a mouth. |
| 0:18.0 | I got a fee. |
| 0:20.0 | I got to be. So I'm going to make sure everybody is. Hello, welcome to a special mini edition of the Martin Lewis podcast on the back of the |
| 0:28.3 | back of the announcement that the energy price gap is to drop by 7% on the 1st of July. |
| 0:33.3 | I'm going to start you with an interview I did on it on 5 live breakfast, and then I've got more extra information on the back end. |
| 0:40.7 | This is my podcast. I need to give you a few of the nerdy bits. |
| 0:44.1 | Now I've been talking about this all morning. |
| 0:45.6 | The energy regulator Offgem has announced that the price cap for household energy bills |
| 0:50.0 | will be lowered by 7% from the start of July. |
| 0:53.0 | So it's set to fall by £129 a year for a typical |
| 0:56.3 | household. Founder of Money Saving Expert and also Five Lives Own, Martin Lewis, is here. Morning, |
| 1:02.3 | Martin. Morning, Kylie. I'm so sorry I'm going to have to correct you. That information that the BBC |
| 1:07.4 | has been putting out today is simply wrong. Oh, what have we got wrong? You're quoting |
| 1:12.4 | a drop of £129. Now, the first thing is that's based on someone on typical use. Now, no one's |
| 1:18.8 | on typical use. Everyone is either more than typical use or less than typical use. That's how |
| 1:22.3 | averages works. But more importantly, the price cap is only for July, August and September. It's a quarterly price |
| 1:29.1 | cap. It lasts three months. So to quote a saving of £129 a year, as the BBC has been doing |
| 1:34.4 | across all its outlets, is simply false. It's a three-month price cap. You can't have an annual |
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