The energy companies may have increased their prices for the winter, but that doesn’t mean you can’t save some money in both the short and long term. One way is to see what fixed deals you can get with the energy companies to help safeguard you against any future price rises. These types of deals usually keep the cost of energy at a fixed rate for a certain amount of time, which could be over a year, with the longest fixed deal being until December 2017 with Npower. A cheaper tariff available now offers an average yearly saving of £183 at £1,170 a year, with others costing an average of £1353 a year.
When looking to save money on energy costs it is also a good idea to compare prices online through comparison websites as this can provide a simple way of seeing what the best price is. Check your last energy bill to see an accurate figure of your energy usage – essential to get the best quote for your household usage.
Aside from this you may want to consider taking measures to help keep heat in your house, this can be home insulation of uncovered pipes to protecting your house from losing heat to draught. If you decide otherwise you may want to simply turn your heating temperature by a few degrees Celsius as 1oC could save you up to £65 per year, or you could decide to wear thicker clothes rather than put the heating on for as long.
Companies who have or are going to put prices up include British Gas by 10.4% for electricity and 8.4% for gas, SSE by 8.2% for gas and electricity and finally Npower who plan to charge 11.1 per cent more for gas and 9.3% more for electricity on the 1st of December. Scottish Power, E.On and EDF Energy are the three other large energy suppliers who haven’t declared a rise as of now.
Another way to save some money on your energy bills is to make sure you are paying the right amount, be sure to frequently submit meter readings to your energy supplier as well as buying gas and electricity from the same company – as often this entails a dual fuel discount. When paying bills you may also want to switch to direct debit and online bills, again as this usually offers a small discount too. With prices like these, every small bit helps.