Martin Lewis gives new verdict on fixing energy bills as he explains 'confusion' over price cap

Martin Lewis has explained why some people get confused about fixing their energy bills - and whether now is the right time to lock in a low price.

Last week, Ofgem announced that the energy price cap will fall again in summer to £1,568 from July 1 - a 7 per cent drop from the current cap of £1,690. However, there is bad news to follow as predictions from Cornwall Insight suggest the cap will then rise again by as much as 12 per cent from October 1, meaning households will be paying more for their energy over the winter.

In its latest money tips newsletter, Money Saving Expert (MSE) explained that the price rise expected in autumn means that the fixed deals currently on the market "look attractive" and may help you save cash over the next year.

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MSE explained that the price cap drop in July is the "last predicted fall for now", with customers paying £93 from July for every £100 they would pay currently. From October, that goes up to £104, for every £100 you pay now. The price cap is then expected to "stay flat" from January. Overall, that means bills will be up 2 per cent over a period of 12 months.

"Of course, this isn't set in stone - the predictions can significantly change over time," MSE told its subscribers. "But at the moment, it doesn't look great over the next year."

Fortunately, there are several deals currently on the market that could save you money. MSE said right now was a "strong time to fix, particularly if you value price certainty", with the cheapest standalone fix currently 9 per cent lower than the current cap. "Contrast that to price cap predictions over the next year of a two per cent rise, and it's the biggest 'fixing