“Energy bills are likely to be the highest they’ve ever been for most homes this winter” – Uswitch comments on January price cap
Richard Neudegg, director of regulation at Uswitch.com, comments: “This rate increase will bite during the coldest period of the year when households need to use the most energy.
“The price cap will go up by 5% from January due to the increases in the wholesale energy market.
“This means energy bills are likely to be the highest they’ve ever been for most homes this winter. Between January and March, average bills will be £46 more expensive than the same period last year when the government’s Energy Bill Support Scheme was in place[1].
“With bills so high, it’s important to ensure you are only using and paying for the gas and electricity you need. Tracking your usage can help uncover simple ways to save energy, such as lowering wash temperatures or changing your cooking methods.
“If you’re struggling to make payments, don’t bury your head in the sand. Get in touch with your provider as soon as you can. They should be able to advise on payment plans, as well as any support schemes or grants you may be eligible for.
“Fixed tariffs are the only way to get any certainty about what you will pay for your energy. There are some deals worth considering, but generally open market offers are still limited.
“The price cap is no longer fit for purpose and gives providers little incentive to offer better deals. The system needs reforming to create a more competitive market that also protects households.”
ENDS
Further information
For households struggling to pay their energy bills, check to see whether you qualify for any support via the Uswitch Eligibility Checker.
To track your energy usage and find ways to save by adjusting your household habits, download the free app Utrack.
Notes
The average household with typical consumption will pay approximately £46 more in January to March 2024, when compared to Q1 (Jan to Mar 2023) EPG rates, including the Government Energy Bill Support of £66 per month. This is based on energy consumption over the period of January to March using current TDCVs.
About Uswitch
Uswitch is one of the UK’s top comparison websites for home services switching, including energy, broadband and mobiles.
More people go to Uswitch to switch their energy, broadband and mobile than any other site, and we have saved consumers over £2.7 billion off their bills since we launched in September 2000.
Free mobile app Utrack also helps households manage their home energy usage and make potential savings.
Uswitch is part of RVU, a group of online brands with a mission to empower consumers to make more confident home services, insurance and financial decisions.