Around 27 million households in the UK are paying their energy supplier’s standard default tariff, putting them at risk of higher bills when the next Ofgem price cap comes into force on April 1.
Wholesale energy prices have risen since the last energy price cap came in earlier this month; so far, these costs have not fed through to fixed or tracker deals, according to Uswitch.com.
The April price cap is expected to rise by 3% compared to January, this means households have just a few weeks to lock into any savings.
Uswitch said households could shave an average of £100 by fixing or tracking their energy bills; this is compared to the price cap from EDF’s market-leading 12-month tracker tariff, available at Uswitch and Confused.com.
The price cap is set at £1,717 per year and is predicted to stay at a similar level throughout the winter, when energy use is highest.
Tracker tariffs offer a discount to the energy price cap, so whether it goes up or down, you’ll always pay less than staying on standard variable rates.
There are also fixed deals available – with savings from £110 a year compared to the current price cap, but deals are not expected to remain at these prices for long.
Consumers typically use 13% of their annual gas and 10% of their yearly electricity in February. By switching as soon as possible, households could start their deal by early February, and maximise their savings during the cold winter months.
Will Owen, energy expert at Uswitch.com, said: “We believe that households may have a relatively short window of opportunity to grab one before they disappear. For customers looking for a guaranteed discount, a tracker tariff is a great option right now. EDF’s Simply Tracker Extra tariff is a rare chance to guarantee a saving of £100 against the price cap over 12 months, whether it rises or falls.
“This deal is also a great choice for smaller households as the discount applies to standing charges, so if you use less energy you’ll save more proportionally. You should always check you are happy with the tariff duration and any exit fees. If you’re on a standard variable tariff, now is the time to protect yourself from upcoming price rises. Run a comparison to see what deals are available to you.”
When it comes to energy saving ideas a little goes a long way. Small changes like turning your thermostat down one degree can save 10 percent on an average energy bill, or having a smart meter installed, which can also make you aware of how much leaving the TV on standby costs you.
There are other small things that can make a big energy-saving difference, such as adjusting the temperature on your boiler, using your hot water more efficiently, turning off a radiator in some room, or even fitting simple insulation to help ease draughts.
One: Don’t do drafts
Drafts can cost hundreds of pounds in heating every year, so insulation is an investment. You can opt for professional draft-proofing or you can try to do it yourself, for example
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A door brush at the bottom of a front door in a letterbox
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A simple snake style draft excluder can also block out unwanted cold air.
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Thermal drapes or curtains
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DIY silicone filler can help block drafts from windows
Two: Shed some light
Turning your lights off can save around £25 a year but you can save even more by switching traditioanl bulbs with LED ones. The Energy Saving Trust estimates replacing a 100 watt incandescent bulb with an LED one can save up to £14 per bulb each year. .
Three: Opt for a cold(er) wash
You can save £30 a year by washing on a 30-degree cycle rather than 40 degrees. Reducing your washing by at least one load a week for 12 months can save even more.
Four: Switch a tumble for fresh air
If you can dry clothes on racks or outside on a washing line or a rotatory line you can save around £60 a year. A heated airer may be worth investing in if you have a large household but they can cost 50p or more to dry a load.
Five: Tea for one
If you are making tea for yourself, you only need enough water for one cup at a time. Overfilling a kettle can cost an extra £11 a year.
Six: Stack your dishwasher
If you have a dishwasher make sure it is full before switching it on, this can save around £15 a year according to the Energy Saving Trust.
Seven: Dress your tank
If you have a water tank consider fitting a jacket on it. A British Standard jacket which comes in at 80mm thick, can save £50 a year.
Eight: No more baths
If you prefer a bath over a shower then you only need to swap one bath a week for a shower to save £10. If you do prefer a shower try keeping it to four minutes or less, this can save between £70 and £80 a year.
Nine: Come off standby
Many household appliances are energy efficient but there are still savings to be made by making sure you turn them off at the plug rather than leaving them on standby.
