🔌💡 Feeling the pinch at home? Brace yourselves, as energy bills are set to rise this October! Ofgem has announced a 2% increase in the energy price cap, meaning the average household in England, Scotland, and Wales will see an extra £2.93 on their monthly bills. That’s around £35 more a year! 🏠💰
The new cap will bring the typical annual energy cost to £1,755 for those on a standard dual-fuel direct debit plan. Although this rise is lower than the earlier energy crisis levels, it’s still a significant concern. But don’t worry, there are ways to cut the costs! 💸
More than a third of households are now on fixed tariffs, avoiding this hike. If you haven’t switched yet, it might save you over £200 compared to the upcoming cap. 📉 Switching payment methods from standard credit to Direct Debit can also shave off around £135.60 a year. 💷
Director General Tim Jarvis of Ofgem highlights the positives: there are more options for consumers, and many are taking advantage of fixed prices to save money. 🔍
With winter coming, it’s crucial to look into savings. Those struggling with bills can seek help through tailored repayment plans or emergency credit support from suppliers. ⛄🤝
The government is expanding the £150 warm home discount to help more families this winter. Energy Minister Michael Shanks emphasises the need to move towards clean, homegrown power to stabilise costs and help lessen the “fossil fuel penalty.”
For those in debt, Citizens Advice director Gillian Cooper warns that these increases offer no comfort and suggests urgent long-term planning for energy upgrades and more extensive support. 🌍💪
Keep an eye on your bills and consider using an energy bills calculator to estimate changes. Stay informed, be proactive, and explore your options to keep the rising costs at bay! ⚡🧮