Martin Lewis left viewers in awe on the Martin Lewis Money Show Live as the MoneySavingExpert.com founder revealed how a simple five-minute comparison could result in substantial savings on energy bills. One household saw their annual energy bill drop by £454 following the advice.

This demonstration comes just ahead of a 6.4% increase in the Ofgem's price cap, which is set to take effect in April. As a result, average dual fuel households paying by direct debit can expect their yearly energy bill to rise from £1,738 to £1,849. The price cap acts as a ceiling for unit rates and standing charges, but individual energy bills vary based on gas and electricity consumption.

Lewis urged UK households to take action by exploring fixed-rate deals that could beat the January price cap and the upcoming April hike. “You want to get off of the price cap because the fixed rates are so much cheaper,” he said. “The first thing is, if you fix, you get peace of mind and certainty.”

Reassuring viewers, Lewis emphasized that many top fixed-rate deals don’t require smart meters, encouraging everyone to pursue the best deals available, regardless of meter type. The evening's show also highlighted the less-than-optimistic findings from some energy bill comparisons. As Lewis explained, “The biggest message tonight is you're probably going to do a comparison and it’s probably going to tell you that you won’t save much. That’s because the saving is compared to the current price cap, which will rise by 6.4% in April. If it shows £20 or £30 in savings, in reality, you're probably looking at £100.”

One viewer sought Lewis’s advice, saying, “We are unfortunately on the price cap – the pants cap – how do we go about fixing it?” Lewis promptly arranged for a live energy comparison with an MSE team member.

The results revealed that the viewer, who only uses electricity, could save up to £454 compared to their current rates, a result that came after just a brief five-minute session. “It was super simple – it took about five minutes,” the viewer shared.

In further discussion, Lewis noted that for those on electricity-only plans, the cheapest fixed rate was about 11-12% cheaper than the current price cap. For dual fuel households, the saving was around 6% lower. The segment highlighted how households can make significant cost-saving decisions amidst rising energy prices.