Many people were surprised to see their energy bills rise by hundreds of pounds earlier this year when Ofgem confirmed that the ceiling price rose by £693. The energy watchdog announced that a surge in global gas prices was behind the increase, as utilities passed on energy costs to the consumer.
Gas and electricity providers set their own prices, and customers can change if they feel they’re not getting the best deal.
Those who have seen their prices increase might benefit from checking to see if a better deal is available.
Ofgem recommended using a comparison website to check what offers are on the market and whether you can save money.
It has several websites that it credits, including Money Supermarket, which shows several different providers and their prices.
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A check can be made by entering your address and current energy provider to see what other offers are available.
There are many other Ofgem accredited websites that can be used and offer the same information, such as Energy Helpline and USwitch.
It is important to look at all the information available on comparison websites and not just the cost of the bills.
Check if the fee is fixed for a period of time and if there are any exit fees if you want to change providers again in the future.
Ultimately, the decision to switch energy providers depends on what type of deal is best for each household.
Customers need to compare your current offering to what’s available on the market and decide if the change would work better for them.
Power prices will rise again in October and bills will rise by a further £800, according to Ofgem.
Jumps in the volatile energy market are hitting families hard and could push millions of people into energy poverty, unable to keep their homes warm.
The Government promised to provide more support to households through payments to the most vulnerable.
These are expected to arrive in the summer and fall, helping those struggling to deal with the cost of living crisis and rising energy bills.
Rishi Sunak announced the plan in May to help with the effects of inflation, which is now hovering around 9 percent.
People receiving means-tested benefits, people with disability benefits, and retirees may be eligible for the payments.