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The Martin Lewis Podcast
Martin Lewis speaks to Britain's biggest energy boss about prices, smart meters and more
Mar 27, 2025
Greg Jackson, Founder and CEO of Octopus Energy, shares his expertise as he tackles pressing queries about rising energy prices and smart meters. He discusses the recent 6.4% increase in energy costs and offers strategies for consumers considering fixed rates. The conversation dives into the profit margins in the energy market, highlighting stark differences between suppliers and retailers. Jackson emphasizes the importance of transparency in energy pricing and the challenges posed by smart meter implementation, aiming to empower consumers amid these complexities.
54:09
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Quick takeaways
- The recent rise in the energy price cap by 6.4% prompts consumers to consider switching to cheaper fixed tariffs for potential savings.
- There is a significant disconnect between energy retailer profits and the rising prices consumers face, raising concerns over market fairness and necessary reforms.
Deep dives
Energy Price Cap Increase
The energy price cap is set to rise by 6.4% starting April 1, bringing average costs from £100 to £106.40. This increase follows previous rises of 1.2% in January and 10% in October, resulting in a total price increase of about 18% since last summer. The cap applies to customers on the standard tariff, affecting those who have not fixed their prices or opted for a special deal. Those using more energy will see a larger increase in bills compared to lower usage customers.
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