The average household energy bill is just under £1,800 a year, a figure that has forced thousands to choose between heating and eating. Martin Lewis now says ‘good news’ is coming in the next few days. The exact shape of that news is unclear, but for homeowners already struggling with high costs, any relief matters.
As reported by the Daily Express, Lewis did not give specifics. But the timing, just ahead of the October price cap announcement, points toward either a cap reduction or new government support. Ofgem is due to confirm the next cap level on 23 August.
What the ‘good news’ could actually mean for your bill
Three possibilities dominate. First, the price cap might fall further than expected. Current forecasts from Cornwall Insight suggest a drop of around 7% in October, taking the typical bill to roughly £1,660. That would save a 3-bed semi about £120 a year. Second, the government could expand the Warm Home Discount scheme, adding another £150 for low-income households. Third, a broader social tariff might be announced, though that would require legislation and is unlikely in the short term.
The catch is that even a £120 saving is modest. Many households are still paying 50% more than they were in 2021. For those on prepayment meters, the situation is worse: they often face higher standing charges and fewer tariff options. Lewis has long argued that the market is ‘broken’ for many. Any good news must be judged against that baseline.
What this means for eco upgrades and EPC ratings
For Axiom readers, the real question is how to use any bill relief. If your annual cost drops by £100–£150, you could redirect that into insulation, draught-proofing, or a heat pump survey. The Energy Saving Trust estimates that cavity wall insulation alone saves a typical home £300 a year. Loft insulation (270mm) saves about £225. Even a £100 saving on bills can be reinvested into measures that improve your EPC rating from D to C, a step that adds an estimated 5–10% to property value.
Government grants remain available. The Boiler Upgrade Scheme offers £7,500 for heat pumps. The Great British Insulation Scheme provides discounts on cavity and loft insulation for eligible households. But these programmes have limited funding and long waiting lists. Any cash freed up by lower bills can be used to pay for private installation, bypassing the queues.
How to act before the news breaks
Do not wait for the announcement. Check your current tariff and compare it to the price cap. If you are on a standard variable tariff, you are already protected by the cap. If you are on a fixed deal that ends soon, do not renew until the new cap is known, you might get a better rate. Meanwhile, book an energy audit from a certified assessor. Costs typically range from £100 to £300, but the resulting report will identify the most cost-effective upgrades for your property.
Households on low incomes or with prepayment meters should also check eligibility for existing support: the Warm Home Discount, Winter Fuel Payment, and Cold Weather Payment. These are not affected by the cap and can be claimed now. The deadline for Warm Home Discount applications varies by supplier, but most close in early 2025.
The coming days may bring genuine relief. But the smartest move is to treat any saving as a down payment on permanent efficiency. Lower bills are good. Lower bills that stay low because your home wastes less energy, that is the real prize.
Frequently Asked Questions
Lewis said the announcement would come in 'the coming days', likely before or alongside Ofgem's price cap update on 23 August. No exact date has been given. Follow his Money Saving Expert website or social media channels for real-time updates.
Wait. If you are on a standard variable tariff, you are already protected by the price cap. Switching now could lock you into a rate that may be higher than the new cap. Once the cap is confirmed, you can compare deals again. Fixed tariffs may become more attractive if the cap drops significantly.
