Spring is often associated with new beginnings, but for many UK households, changes to electricity prices will mean a return to pre-pandemic high payments. The good news is that there are ways you can help to reduce your costs, including boiler maintenance and heating checks.
Regulator Ofgem have announced a price increase on energy bills from 1 April 2021, raising the cap to the level it was before the first lockdown. Due to the pandemic, wholesale prices fell rapidly with the cost saving being passed on to consumers. However, demand has since increased, resulting in a rise of £96 for 11 million tariff customers and £87 for the 4 million with pre-paid meters.
Price caps are set every six months in response to the cost of electricity and gas for suppliers, but this latest alteration comes at a time when many homeowners are already facing financial difficulty. Ofgem’s chief executive Jonathan Brearley describes the cap as a “safety net against poor pricing practices” and advises customers to “shop around for a cheaper deal” in light of the changes.
How Will the Price Increase Affect UK Households?
This latest increase to the price cap will see the average homeowner paying £1,138 per year for their gas and electricity bills. The update will affect around half of UK households who have ongoing suppliers or with discounts that have finished. Those on fixed rate deals will not be affected.
Several industry professionals have already raised concerns. Following research conducted in December 2020, Citizens Advice have estimated that 2.1 million homes are struggling to keep on top of their energy bills, an increase of 600,000 from the pre-pandemic figure.
While Ofgem have encouraged consumers to move to a different energy supplier to save money, the cost of fixed rate deals has also been rising, making it tougher than ever to find an affordable option. The lowest figure has increased by more than £50 in the past three months to £851.
How Can I Save Money on My Energy Bills?
While there may be limited choices when it comes to finding a cheaper deal from suppliers, there are ways you can lower your energy usage and make your bills more manageable. Monthly maintenance checks can help to find and remedy problems early before they become serious.
After a long cold winter, boiler maintenance is essential as well as checking your pipework and fixtures. If you are concerned about any element of your system, contacting a professional engineer or plumber will ensure your heating and boiler are efficiently maintained and fully functional.
No Hassle Heating are experts in boiler maintenance, providing an expert service to guarantee your systems are safe, reliable and energy efficient. Our monthly maintenance packages include 24/7 access to engineers, no additional charges for emergencies, and even a new boiler should your old one fail.
Take a look at our wide range of heating plans or get in touch with us.