Get the best utilities tariff
An increase to the energy price cap was announced at the beginning of the year by Ofgem. This means that if your utilities tariff is either standard or variable, you could find that your next bill is higher than you anticipate and could rise by as much as £120.
This price cap links to the price energy suppliers charge their customers to the wholesale prices they pay for gas and electricity. So, savings are passed on to customers when the price of energy drops – but unfortunately this means that consumers pay more when the wholesale price increases.
Here are our tips to keep your utilities bill down:
Check your tariff
If you’re on a fixed term tariff, check when this finishes. You’ll be switched onto the supplier’s variable rate when it does so set a reminder to find the best deal.
Make sure you’re on the best tariff available. You could find that if you’re been on a particular tariff for a while, you could get it cheaper.
Look for an Ofgem-accredited comparison site that is a part of the regulator’s Confidence Code, which ensures that the comparisons are fair and unbiased.
Make sure you pay by Direct Debit as this is often the cheapest way to pay with some suppliers offering discounts. It also helps spread the cost of your energy usage over the year and by submitting regular readings you won’t be paying too much.
If you have a paperless tariff you can check and manage your account online or on the supplier’s app. It will allow you submit meter readings and as supplier’s are saving money on resources, they will often pass the savings onto customers.
Dual fuel tariff
By getting your gas and electricity supply from the same provider through on a dual-fuel tariff, you can save money as suppliers often give discounts for signing up to both gas and electricity.