Households are facing continued increases in energy costs, but there are strategies available to help reduce your expenses.
The current Ofgem price cap stands at £1,755 annually for the average household paying via direct debit, with a planned rise to £1,758 starting in January.
This upcoming price adjustment coincides with the colder months when many people are likely to increase their heating usage.
To mitigate expenses, Ofgem recommends exploring fixed energy tariffs, which lock in prices for a specified period, offering stability and potential savings.
According to a comparison table by moneysavingexpert.com, the cheapest fixed tariff on the market is over 10% lower than the current price cap.
Additionally, alternative options such as tracker tariffs, which fluctuate based on wholesale energy prices, can provide cost-saving opportunities as market rates change.
During the winter season, there are various assistance programs available, particularly for elderly or low-income individuals. For example, you could qualify for a £150 discount on your electricity bill through the Warm Home Discount scheme.
Further support includes Winter Fuel Payments of up to £300 for eligible pensioners born before September 22, 1959, with provisions for repayment if earning over £35,000.
Cold Weather Payments of £25 are issued during prolonged cold spells, offering relief when temperatures drop to 0C or below for seven consecutive days.
Simple adjustments like reducing energy usage can significantly impact your bill. Practices such as switching off appliances from standby mode and avoiding overfilling the kettle can lead to annual savings.
Moreover, minor changes like lowering the thermostat by one degree can save around £90 without compromising home comfort.
If struggling with energy bill payments, contacting your supplier promptly can provide options such as payment plans, breaks, and manageable debt repayment solutions.
Vulnerable customers may benefit from registering for Priority Services, which offers advance notices of power cuts, emergency support, and assistance with meter readings.
Preventing heat loss by sealing draughts around the home before winter sets in is crucial. Affordable solutions like draught excluders under doors can effectively reduce heat loss and maintain warmth.
Implementing draught-proofing measures is estimated by the Energy Saving Trust to save approximately £85 per year. Low-income households may also qualify for support through boiler grants or insulation assistance via the Energy Company Obligation (ECO) scheme.
