MILLIONS of households are being warned to act tonight or face losing £215 in winter bill savings.
Over 22million households will see their energy bills rise by roughly £35 a year when the Ofgem price cap increases to £1,755 on October 1.
Households on standard variable tariffs, which make up 65% of domestic energy users, will be affectedHowever, households that switch to market-leading switched energy tariffs by tonight can beat the government’s price cap rise – and save up to £215 a year.
Households on standard variable tariffs, which make up 65% of domestic energy users, will be affected.
People who switch in the next 24 hours can expect to save up to £215 a year, according to price comparison site The Energy Shop.
But best be quick – switching can take up to five working days so savvy households should change their tariffs tonight.
The Energy Shop has revealed the energy providers offering the best value ahead of the 2% cap rise on Wednesday.
The best fixed tariff currently available is Outfox Energy’s 12-month deal at £1,540 a year, saving households £214.63 compared with Ofgem’s energy new cap.
Close seconds are Outfox’s two-year fix at £1,542 and 15-month fix at £1,544 – both shaving over £210 off the cap.
Fuse Energy’s 12-month fixed deal at £1,572 is another strong option, delivering a £183 saving.
Meanwhile, E.ON Next’s 12-month fix at £1,602 still comes in £153 cheaper than the cap.
The table below shows an extensive list ranking the best deals on offer.
Before you switch, remember the energy price cap could fall in January so make sure to check exit fees in advance.
Scott Byrom, chief executive of The Energy Shop, said: “Check if you’re on your supplier’s standard variable tariff – if you’ve never switched, you almost certainly are, and it’s usually the most expensive.”
People switching to fixed tariffs are “saving themselves money” and reporting higher satisfaction, Ofgem’s director general of market said last month.
Since July, there has been a price cap of £1,720 but Ofgem says another increase is needed due to “unpredictable global events”.
Ofgem uses the idea of a typical household, using 11,500 kWh of gas and 2,700 kWh of electricity a year, paid for by direct debit, to estimate households’ forecasted energy spend.
What else can I do to cut my energy bill?
Households that opt for an “off-peak” energy tariff could reduce the cost of running appliances by 70%, according to The Energy Shop.
This works best if you have appliances with timers.
A few tweaks to electrical appliances such as washing machines, dishwashers and tumble dryers, can really chip away at bills.
Scott Byrom, chief executive of The Energy Shop, said: “Through Autumn and Winter, we will use 75% of our annual gas consumption in just six months of the year.
“The peak generally occurs in January when our gas consumption can jump to as high as 20% of our annual usage.
“By being aware of this spike in consumption alone, and heating our homes wisely, we’re more likely to make conscious steps to reduce our energy bills.”
He also recommends ventilating your rooms to avoid having to stump out on mould removal costs of £220 this winter.
When temperatures drop, people close windows to keep heat in.
But without ventilation, moisture builds up, leading to damp and mould.
This not only costs around £220 per room to remove, but comes with dangerous health impacts.
He added: “Open windows briefly in kitchens, bathrooms and bedrooms, and keep doors shut to stop moisture spreading through the home.
“You’ll keep your house warm, dry and healthier.”
What energy bill help is available?
There's a number of different ways to get help paying your energy bills if you're struggling to get by.
If you fall into debt, you can always approach your supplier to see if they can put you on a repayment plan before putting you on a prepayment meter.
This involves paying off what you owe in instalments over a set period.
If your supplier offers you a repayment plan you don’t think you can afford, speak to them again to see if you can negotiate a better deal.
Several energy firms have schemes available to customers struggling to cover their bills.
But eligibility criteria vary depending on the supplier and the amount you can get depends on your financial circumstances.
For example, British Gas or Scottish Gas customers struggling to pay their energy bills can get grants worth up to £2,000.
British Gas also offers help via its British Gas Energy Trust and Individuals Family Fund.
You don’t need to be a British Gas customer to apply for the second fund.
EDF, E.ON, Octopus Energy and Scottish Power all offer grants to struggling customers too.
Thousands of vulnerable households are missing out on extra help and protections by not signing up to the Priority Services Register (PSR).
The service helps support vulnerable households, such as those who are elderly or ill.
Some of the perks include being given advance warning of blackouts, free gas safety checks and extra support if you’re struggling.
Get in touch with your energy firm to see if you can apply.
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