How much are you paying for your gas and electricity? What’s for sure is it’s more than 12 months ago and around double the price from 2004. And worse news still is those rates are set to double again by 2020.
But have you given much thought to the energy provider you’re with? According to one of the Internet’s leading price comparison sites, there’s as much as £300 difference each year between the cheapest energy tariff and the most expensive.
All of the UK’s leading suppliers have increased prices again this winter, blaming wholesale costs and energy efficiency schemes for the hikes.
So what can you do to decrease your own energy prices?
Tom Crosswell, the Head of Marketing at Quotatis said: “The results of the survey shows just how important it is to get on the right energy tariff. And the best way to do that is to shop around.
“It’s staggering that many households have never switched their energy tariffs, probably through convenience. But nowadays it’s hassle free and your new provider will arrange all the specifics.
“We’ve had a cold winter and energy prices will only increase in the future, so now’s the time for people to take control of their expenses.”
Three ways to slash your energy bills
But Tom suggests there are three ways to make changes to your energy bills. First off you could consider a fixed tariff, which keeps your rates at the same price for a certain period of time. Therefore, if prices increase during this period, yours will stay the same.
You could also consider the Green Deal, which is a Government-run scheme to support the installation of energy efficiency measures such as loft lagging and wall cavity insulation. Although the scheme offers loans and you’ll have to pay back interest rates.
Your other option is investing in home upgrades yourself, whereby all the savings go straight into your pocket. A new boiler for instance can save you as much as £310 a year, whilst basic loft lagging could cut your bills by £100 annually.
Your energy supplier may also be running a benefit to reduce your energy usage, so speak to them as well to find out if and how you can take advantage.
Facts & Figures You’ll Love To Share
- Heating accounts for around 60% of the annual household bill and a new boiler can slash expenses.
- By replacing your old and inefficient boiler you can save up to £310 a year according to the Energy Saving Trust.
- Energy prices have doubled since 2004 and will double again by 2020, so secure your energy future with an A-rated boiler.
- An annual boiler service costs between £50 and £100 but could save you hundreds of pounds on future repair work.
- With a new boiler you can slash carbon dioxide emissions by a whopping 1,200kg each year.
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