Households are currently experiencing higher energy costs, but there are strategies to reduce these expenses. The Ofgem price cap stands at £1,755 annually for the average direct debit-paying household, increasing to £1,758 starting in January. This rise coincides with the onset of colder months, prompting individuals to consider ways to save on energy bills.
Ofgem recommends switching to a fixed energy tariff to control expenses, where prices remain stable for a specified duration. According to a comparison table by moneysavingexpert.com, the most affordable fixed tariff in the market is over 10% cheaper than the current price cap. Alternatively, tracker tariffs adjust based on wholesale energy rates, ensuring costs align with market fluctuations.
Furthermore, various financial aids are available this winter, particularly for elderly or low-income individuals. For instance, the Warm Home Discount scheme offers a £150 reduction on electricity bills. Winter Fuel Payments, up to £300, are provided to pensioners born before September 22, 1959. Cold Weather Payments of £25 activate when temperatures dip below 0°C for seven consecutive days.
Simple adjustments in energy usage can lead to substantial savings. The Energy Saving Trust suggests turning off standby appliances can save £45 annually, while avoiding kettle overfilling can cut costs by £30. Lowering the thermostat by one degree may save around £90 without compromising comfort.
In case of financial struggles with energy bills, contacting the supplier promptly for available assistance options is crucial. Vulnerable customers can enroll in the Priority Services Register for advanced notice of power cuts and emergency support. Additionally, identifying and sealing draughts in the home can significantly reduce heat loss. Affordable solutions like draught excluders under doors can aid in maintaining warmth.
For those with low incomes, grants for boilers or insulation through the Energy Company Obligation (ECO) scheme are potential avenues for additional support.
