Key points:
Energy bills for millions of households are set to fall by £238 this spring as the new price cap takes effect on April 1, according to the energy regulator Ofgem.
Price cut details:
The price cap will decrease from £1,928 to £1,690, resulting in an average annual bill drop of £238 for households. Gas prices will fall from 7.42p per kWh to 6.04p, and electricity prices will decrease from 28.62p per kWh to 24.50p.
What you need to know:
The price cap only limits the amount per kilowatt hour that households pay for gas and electricity, not the overall bill. It is recalculated every three months and affects around 29 million UK households on default or variable tariffs.
Steps to save on energy bills:
Here are eight steps to take now to save on your energy bills:
1. Take a meter reading:
If you don't have a smart meter, regularly submit meter readings to ensure accurate billing.
2. Check your direct debit:
Ensure your direct debit amount is fair and reasonable, and dispute it if necessary.
3. Check for new energy deals:
Compare fixed energy deals to ensure you're getting the best value for your money.
4. Check if you qualify for support:
See if you're eligible for energy support schemes or grants, such as the Warm Home Discount scheme.
5. Change your thermostat and boiler settings:
Adjust your thermostat and boiler settings to save on heating costs.
6. Change your radiator settings:
Bleed your radiators, consider thermostatic radiator valves, and keep radiators free from obstructions for maximum heat.
7. Change the way you use your appliances:
Make small changes like washing clothes at lower temperatures and running appliances with full loads to reduce energy consumption.
8. Check for draughts:
Draught-proof your home to prevent heat loss and save around £50 a year on energy bills.
By following these steps, households can make the most of the energy bill price drop and potentially save even more on their energy costs.
