Martin Lewis has urged households on standard energy tariffs to consider fixing their bills now, warning that waiting could leave them paying more during the expensive winter months.
The Money Saving Expert founder says a cheap fixed deal is likely to beat the energy price cap over the coming months, although households need to weigh up the risks before switching.
His advice comes as wholesale energy prices remain high, with the ongoing conflict in the Middle East adding further uncertainty to the market.
For households currently paying their supplier's standard variable tariff at the price cap, Lewis says taking one of the cheapest fixed deals available now is likely to save money.
In a new post on the subject , he said: “If you've been on your firm's standard tariff at the Cap for ages, get off it and get one of the cheapest fixes while you're minded to.”
What is the best energy bill fixed deal on the market?
The cheapest fixes are currently around 8% below the current price cap, and roughly 11% below the cap due to come into force in October, according to his analysis.
The January price cap is currently predicted to rise by more than 10%, although Lewis stresses this forecast is far from certain.
The January cap will be based largely on wholesale energy prices over a 13-week period running from mid-August to mid-November.
More than two weeks of that assessment period have now passed, with wholesale prices described as particularly high.
Lewis says this means a substantial and rapid fall in wholesale prices would be needed for the January price cap to come in below today's cheapest fixed deals.
His conclusion is that most households currently on the price cap are likely to be better off taking a cheap fix now rather than gambling on prices falling.
However, there is a catch...
Fixed deals are now more expensive
Lewis warns that the cheapest fixed deals available today are significantly more expensive than they were earlier this year.
He says fixes were around 7% cheaper two months ago and 15% cheaper before the Middle East conflict began.
Unlike the price cap, which operates with a time lag, fixed deals are much more closely linked to current wholesale energy prices.
That means waiting could potentially pay off if wholesale prices fall as tensions in the Middle East ease.
But the opposite could also happen, leaving households facing even more expensive fixed deals.
Lewis says people who are comfortable monitoring the market could therefore decide to wait, but they would be taking a gamble.
Already on a fixed energy tariff and wondering if you should refix now? I go through it in detail here... https://t.co/sBetXbF9gO
— Martin Lewis (@MartinSLewis) September 2, 2026
Already on a fixed deal? Martin Lewis says be careful
Households already on a fixed energy tariff should not assume the October price cap rise means they need to switch again.
Lewis said: “What will happen to future fix rates is a total unknown.”
The October cap increase will not affect an existing fixed tariff until that deal ends.
There is also some good news for people already on fixes.
The Government is scrapping VAT on domestic electricity for six months from October 1, meaning households on fixed rates will see a 4.8% reduction in what they pay for electricity, as VAT is added on top of the fixed rate.
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Fix ending within 50 days?
There is an important rule for households whose fixed deal is coming to an end.
You cannot be charged an early exit penalty during the final 50 days of a fixed tariff.
This means households within that window can shop around and compare deals without facing an early termination charge.
When a fix ends, customers are automatically moved to their supplier's standard price-capped tariff unless they choose another deal.
Lewis's advice is therefore not to panic, but to make an active decision before the existing fix ends.
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