Ofgem to raise energy price cap: Tips to get ahead and reduce energy bills

Greg Wilson, Founder of insurance comparison website Quotezone.co.uk comments:

“Although we are entering, what is hopefully, the last phase of the pandemic, and Brits begin to spend less time at home, this does not necessarily mean that our energy bills will start to go down. Over 15 million homes will be affected by Ofgem’s recent announcement that price caps will rise from October, showing that the next two months will prove critical for many consumers who want to spend less and start saving.  

“There are many ways to tackle increasing energy costs, but the most effective is switching energy provider – a process which has never been easier. By choosing an Ofgem accredited comparison site, consumers can get an understanding of what’s on offer across a range of providers – instantly providing an overview of more competitive prices. It cannot be stressed enough that there has never been a better time for consumers to start seeking better and fairer options.” 

 Here are a few tips on how to keep your household bills down: 

·        Switch provider: according to Ofgem, consumers are able to save around £360 every year, meaning they are able to offset the increase in energy spend.**** Switching provider doesn’t just help save money, it also allow consumers to find better customer service and seek more environmentally friendly providers. 

·        Thermostat control: by turning your thermostat down by just one degree, according to the Energy Saving Trust, can help save the average home around £60 a year. Additionally, for a long-term solution, consumers should also look to install heating controls to help prevent wasted energy use. Many of these thermostats can be controlled from your phone, so no matter where you are you can be in control of your energy usage. 

·        Make your home more efficient: depending on your concern around your current bill, there are many ways to make sure your home is running optimally and efficiently. The best solution is to improve the insulation in your home; however, this can be quite a costly process. A more immediate solution is to ensure you’re using efficient lightbulbs – a relatively inexpensive solution which helps reduce costs over a long period of time. 

·        Claim tax relief: make sure you take advantage of tax relief which allows anyone working at home on a regular basis, to claim relief on gas and electricity bills – as well as metered water and business phone calls. HMRC are offering relief