Energy prices are expected to rise by 56% by 2022 – here’s how to save money on your bill.
HOUSEHOLDS are bracing for an increase in energy costs in the coming months, and they’re looking for tips on how to cut costs.
Gas and electricity bills may rise to £2,000 per year by April as a result of the decision to raise the energy price cap.
Families should expect a 56 percent increase in their current energy bills in three months, according to the industry regulator Ofgem.
With these warnings, savers are scrambling to find the most cost-effective ways to reduce their energy bills before they skyrocket.
Nick Drewe, a money saving expert at discount website platform WeThrift, spoke exclusively to This website about how households can save money in advance of the looming energy bill hike.
Families should examine and research their energy bills, according to the financial expert, to see if they are getting a good deal.
“Keep checking your bills on a regular basis,” Mr Drewe advised.
While some energy providers have been known to change tariffs or charge customers incorrectly, it’s always a good idea to double-check your regular household bills.
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“As winter approaches, those who continue to work from home or have flexible working conditions may choose to stay at home, resulting in higher water, energy, and mobile data bills.
“Always conduct research before selecting a supplier; many bill payers may instinctively select an energy supplier with whom they are familiar, but this is not always the most cost-effective option.”
“Really look into a variety of energy providers and compare their prices.”
“Also, if you’re looking to switch energy providers, make sure to look into each company’s exit fees and choose one that won’t charge you a fortune if you decide to leave.”
The energy expert emphasized the importance of learning more about how your supplier works and what you can do from home to save money.
“While there are often a lot of terms and conditions to read, attempting to understand the information related to your energy tariff and household consumption could help you keep your bills costs down,” he continued.
“On the bill, the personal projection is the amount your household is expected to spend in excess.
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