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    Home»Commodities»All the ways to cut your energy bill as Ofgem announces new price cap
    Commodities

    All the ways to cut your energy bill as Ofgem announces new price cap

    November 20, 20254 Mins Read


    The Mirror rounds up all the ways you can cut your energy costs, plus how to get help if you’re struggling with your bills

    Households are still paying more for energy than they used to – but there are ways to cut your bill.

    The Ofgem price cap is currently set at £1,755 a year for the typical household paying by direct debit, and this is set to rise to £1,758 from January.

    The next price cap will come into effect just when most people are cranking up their thermostats during the coldest months.

    See if you should fix

    Ofgem has previously urged households to consider switching to a fixed energy tariff to cut costs. A fixed energy deal locks the price you pay for unit rates and standing charges for a set period of time.

    A comparison table by moneysavingexpert.com shows the cheapest fixed tariff on the open market is more than 10% lower than the current price cap.

    There are other options, such as tracker tariffs which have rates that change based on wholesale energy prices so they update when the market rate goes up or down.

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    Check for winter payments

    There are several extra payments due this winter, particularly if you are elderly or on low income. For example, you may be eligible for £150 off your electricity bill through the Warm Home Discount scheme.

    This is applied directly to your energy account, or as a voucher if you’re a prepayment customer.

    Winter Fuel Payments are worth up to £300 and are paid to pensioners who were born before September 22, 1959. If you earn over £35,000, you’ll still be sent the payment, but you’ll have to pay it back through the tax system.

    Then there are £25 Cold Weather Payments, which are issued when the average temperature is recorded as, or forecast to be, 0C or below over seven consecutive days. You can get multiple payments if we go through several spells of freezing weather.

    Reduce your energy

    It may sound obvious, but reducing your energy usage can have a big impact on reducing your bill.

    The Energy Saving Trust estimates switching your appliances off standby mode can save you £45 a year, while not overfilling your kettle can reduce costs by £30 a year.

    Turning down your thermostat by just one degree could save you around £90 and shouldn’t make too much difference to your home.

    Ask for support

    If you’re worried about falling behind on your energy bill, contact your supplier as soon as possible and ask what help is available. Your energy firm may offer you a payment plan, payment breaks and affordable debt repayments.

    If you’re a vulnerable customer, you may be able to sign up to the Priority Services Register. This will give you advance notice of planned power cuts, priority support in an emergency and help with reading your meter.

    Early draughts

    Go around your home and look for any draughts where cold air could get in before the worst of the winter hits. This is important, as it can significantly reduce heat loss and keep you warmer.

    It doesn’t need to be expensive, either, you can buy draught excluders to block gaps under your doors for less than £10.

    The Energy Saving Trust estimates ­draught-proofing can save you £85 a year. If you are on a low income, you may be eligible for help with boiler grants or with new insulation through the Energy Company Obligation (ECO) scheme.



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