Uswitch comments on Cornwall Insight’s prediction for July: “You can’t control global events, but you can take action to protect yourself”

Richard Neudegg, director of regulation at Uswitch.com, said: “The odds on household energy costs soaring this summer are shortening.

“Talk of a predicted 18% rise in the July price cap will be a concern for households, but the real worry is what this means for October’s cap, which dictates how much our heating bills will be at the start of winter. While the cap will thankfully hold off rocketing bills for the next three months, it cannot protect you from global events beyond that.

“With eight in 10 households worried about their energy bills rising, households have a real opportunity to protect themselves for the winter by locking in a fixed deal for 12 months or more that gives them certainty on the price they’ll pay, especially over the coldest months.

“It’s still too early to tell exactly what the rates will be, but the risk of doing nothing could mean facing a much larger bill for winter.

“It’s important to remember that the price cap is falling tomorrow (Wednesday 1 April) by 6.7% (£117 for the average household), and those on standard tariffs won’t see their rates increase for another three months.

“You can’t control global events, but you can take action to protect yourself from higher winter bills. Fixing your energy rates now is the only way to avoid hefty price hikes that are predicted to come our way. 

“While the price of fixed deals has increased, it’s a reasonable move to pay a little more to protect your rates for at least a year in the current circumstances, and there are still 25 tariffs available.

“Run a quick comparison to see tailored options available to your personal energy usage. If there are options available to lock in reasonable rates, it’s worth considering if you value price certainty.”

ENDS