Switching energy deal can save £200 as price cap falls, say experts

The consumer champion Martin Lewis says you ‘can never work out the perfect time’ to sign up to a fixed deal, but now is a ‘pretty good time’. Photograph: Simon Dack/Alamy

Experts have told households whose energy bills are pegged to the price cap not to “rest on their laurels” as they could save more than £200 a year on a fixed deal.

This week, Ofgem said the price cap in Great Britain would drop by 7% from April. This usually only matters if you are on a default tariff, but this time the reduction applies to everyone because the government is removing green charges from bills.