Money Matters: Is it time to switch off the energy price cap?
You may have seen warnings over the past couple of days urging households to switch off the energy price cap while they still can.
With the ongoing conflict in the Middle East affecting global energy markets, prices are becoming more unpredictable – and that can impact what we all pay.
In this week’s Money Matters column, Housing Plus Group’s debt and energy manager Dan Bebbington talks through what action you need to take – and how quickly you need to act.
Expert Martin Lewis sent a stark warning to households this week, urging to get off the energy price cap while they can.
He said that the cost to households of fixing their energy bills dropped following the ceasefire agreement between Iran and the US. However, warned that this may not last and advised for you to lock in a fixed rate below the new lower April price cap, which most are on – even if you don’t know you are.
It comes as forecasts suggest that the price cap could rise by around 14% on 1 July.
In order to protect yourself from future increases, it’s worth locking in a price with a fixed deal.
The price you pay is dependent on not only where you live but also your payment method, so we recommend doing a full market comparison.
But we suggest looking at what’s available now, rather than waiting. A good place to start for a comparison tool is via MoneySavingExpert here.
Martin Lewis says you’re looking for one that saves you even a small amount over the current cap, as bigger savings will come from July.
Ultimately, it’s about thinking whether you want price certainty or flexibility.
The bottom line is – with a potential rise ahead, now is a good time to review your energy deal and make an informed choice.
If you are concerned about your energy bills or usage, speak to your energy supplier or a charity such as Marches Energy Agency, LEAP (Local Energy Advice Partners) and National Energy Action.
Housing Plus Group customers can seek free advice and support from our Money Matters team, including our dedicated Energy Advisor, in partnership with the Cadent Foundation.
16th April 2026