Experts share advice on how to save money on your energy bills in seconds
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The energy price cap rose again in April, which means the maximum energy companies can charge you is higher.
The price cap raise means bills will go up this year in the latest blow to households across the UK.
Energy switching service Switcheroo says customers should act now to avoid hefty price rises and even save up to £366 per year on energy bills by using an energy switching service to move to a cheaper tariff.
Switching is free and easy when you enter your details here. But is it recommended that you actually switch your energy? We take a look at what the experts say when it comes to switching your energy supplier.
The Money Saving Expert website says: “Traditionally, switching your energy deal was the best way to cut bills, but with the recent energy crisis, savings aren't anywhere near what they used to be. Yet deals are returning, and for some, it could now be worth considering switching.”
MSE adds: “There are fixed deals right now priced below the current Price Cap level. So it's possible to save by switching.”
How much you can save may depend on your current tariff and the fixed price tariff you can find by switching. While Switcheroo says on average customers can save £366, Which? Says some people may find slightly lower savings depending on their new supplier.
Which? Said in February: “We've seen several tariffs this month that would see you paying less for your energy than the price-capped rates from January. However, anyone hoping to save hundreds might be disappointed. When we last checked, the cheapest deal would save the average user £160 a year compared to the price cap – that's a saving of around £13 per month. For high-energy-use households, you stand to save more.”
USwitch does come with a word of warning about switching energy. You will need to check any potential tariffs for exit fees in case you would like to switch again.
It says: “You may change your mind about your fixed deal and want to switch again. But if this happens after your cooling-off period, you might have to pay an exit fee. Not all tariffs have exit fees but most do, so make sure to check the terms of your current tariff.”
You can find out how much you can save by entering your details here.
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