According to research published this week, UK households suffered their worst ever year for increasing energy prices of gas and electricity. There were 57 energy price rises in 2018, compared to only 15 rises in 2017.
Certain companies increased their energy prices three times in year. Energy suppliers have increased prices ahead of the £1,137 price cap which Ofgem is introducing in January 2019.
Ofgem’s energy price cap applies to default tariffs including the standard variable rate. Energy suppliers move customers onto the variable rate when falling out of fixed tariff deals. Customers may also be on variable rates since they may never have had a fixed rate tariff.
If you have been stuck with the same provider for some time, chances are you could shave hundreds off your energy bills.
Millions of households are on their provider’s most expensive, out-of-contract deals and switching to a better deal can instantly save you money.
According to Bills Dashboard’s expert partner service, Energylinx, one in ten families could cut their annual dual fuel bill by £537 a year by simply signing up for a fixed rate tariff.