Energy bills set to rise – how can you save?

4 min Read Published: 12 May 2020

Energy prices increase due to lockdown

Research by comparethemarket.com has identified that household energy bills could rise by almost £400 a year on average, all thanks to lockdown. Many household appliances such as dishwashers, washing machines, ovens and TVs are being used significantly more, meaning that bills are rising as a result. The survey found that the average annual gas and electric bill could rise from £1,034 to £1,421.

How can I reduce my energy bill?

Here are some quick tips on how to keep your energy usage down:

  1. Try and shower instead of having a bath
  2. Use energy-saving light bulbs
  3. Ensure the dishwasher and washing machine are full before putting a wash on
  4. Turn off radiators in rooms you aren't using
  5. Switch energy provider

How to switch energy provider to save money on energy bills

Switching energy provider is a simple way to save money on your energy bills. If you have seen an increase in your energy usage recently and are worried about the price increasing, why not switch energy provider to ensure you're on the best deal.

How can I search for the best deal?

You can search for the best energy deal by using a price comparison site or alternatively you could use an auto-switching service. Auto-switching services do a lot of the hard work for you, finding the best deals and automatically switching you to the best deal when a significant saving can be made. If you are concerned relinquishing control and are not yet ready to trust an automated process then you can still retain an element of control by authorising the switches manually.

In our article, 'Compare the best energy auto-switching services in the UK' we summarise the best energy auto-switching services including how they work and how much they cost. In the article, we highlight Switchd and LookaftermyBills as two of the best switching services and you can read an independent review of each by clicking on the links below:

What if I cannot afford the price increase?

44% of those surveyed by comparethemarket.com expressed anxiety about being unable to afford the increase in energy bills since working from home and so below we list the help that is available:

The government has been working with energy providers and have agreed on a number of measures to help those struggling during the current pandemic. These include:

  • Extra time to pay your bill
  • Payment breaks or payment reductions
  • Support with bill payment plans and debt repayment plans
  • Access to hardship funds
  • Reassurance that no provider is able to disconnect any credit meters during this time

Speak to your energy provider to see if they can offer any or all of the above.

If you are struggling to afford your energy bills, you should try and reduce your usage and see if you can switch to an alternative energy supplier. We provide a simple guide to finding the best deal and switching in under 20 minutes here.

 

Looking for a financial adviser near you?

Do you need financial advice? An independent financial adviser can show you how to make the most
of your money. Find your nearest qualified and regulated adviser using this VouchedFor search tool.

Alternatively, Hargreaves Lansdown, one of the UK’s largest firms providing restricted financial advice, is offering a £200 John Lewis voucher* to new clients.