We know there's a lot going on in the energy market right now, with bills rising, suppliers exiting the market, and lots of jargon being used which can make things confusing. Uswitch can help you make sense of it all here.
23 January 2023, 10.47: In a speech today at the Institute for Government, Ofgem CEO Jonathan Brearley called for the introduction of discounted social tariffs targeted at the most vulnerable energy customers across the UK.
This would mean certain customers on low incomes would be offered cheaper energy deals, which would probably be paid for either through government taxation or through higher prices for customers who don't fall into the social tariff group.
Energy price rises and the general cost of living crisis will naturally have you concerned about the impact on your bills, which have already risen significantly in the last few months, but Uswitch is here to advise and support you through this difficult period.
Find out more about the Energy Price Guarantee, the price cap and the actions you can take to manage your bills here:
See what energy support schemes or grants you - or any vulnerable friends or relatives - may qualify for, from either the Government or energy suppliers. Stay up to date with what’s happening in the energy market so that you will be ready to switch when the time is right. The Uswitch Quick Checker provides personalised information about your energy plan and a recommendation of what you should do.
It’s more important than ever to be energy efficient.
There are simple and affordable ways to prevent heat loss, such as draught-proofing doors and window frames, bleeding radiators and keeping thermostats at a steady temperature. Check out our other energy saving tips here.
Our easy to use tool shows you which government and supplier-specific energy help schemes you might be able to sign up for depending on your eligibility.
With the energy price cap confirmed to rise in October and expected to rise again in and January, we might have come to the point where it could be worth considering signing up to a fixed energy tariff. However, before you commit to a fixed deal, you should consider the following:
Do consider exit fees. You may change your mind about your fixed deal and want to switch. If this happens after your 14-day cooling-off period, you might have to pay an exit fee. Not all tariffs have them but some do, so make sure you know whether yours does.
Do consider the length of the deal. Most deals are for 12 or 24 months. During this time the price cap could rise or fall depending on market conditions, so consider how long you would like to stay locked in for.
Do stay informed. It’s important to keep a close eye on the market and run regular comparisons to see what deals are on offer. By signing up to alerts, you will be able to stay close to what’s happening in the energy market and be informed when a good deal comes along.
Don’t just go for the first deal you’re offered. Just because a deal is available doesn’t mean it is a good one or the right one for you. Consider the price of the deal, how long it is for and how important stability is for you right now.
Don’t get a deal you cannot afford. Make sure you can afford the deal you choose to take and do not feel pressured into taking one that you will struggle to pay for.
Don’t just look at the direct debit amount. The price you pay through Direct Debit each month is usually based on the estimated amount you will use over a year and may not be the actual cost. Make sure you look at the unit price and standing charge so you can understand how much you will be charged for your energy usage and how it differs from what you are currently paying.
We know and appreciate that this is a difficult time for customers, and we want to do everything possible to make sure you have the right information at this time so you can make the right decisions.