ENERGY BILLS ARE GOING UP!I don’t think it’s a particular shock that our energy bills are going to be increasing from October as it was expected, but it doesn’t stop it from being an irritation for millions who are struggling as it is! What’s happening? The Energy Price Cap sets a limit on the maximum amount suppliers can charge for every unit of gas and electricity you use They set a maximum daily standing charge (the cost of having your house connected to the network) The Price Cap changes every three months, and is now set to rise from 1 October 2024 What this means For a typical household who pays by direct debit this increase would represent a rise of 10% to an average cost of £1,717 per year How to beat the increase You may want to consider fixing your tariff via E.On Next or EDF Ensure, both of whom promise to remain 3% below the Energy Price Cap meaning that you would be seeing less of an increase overall Personally, we are on the Octopus Tracker tariff which changes its daily rates daily based on wholesale costs and has been substantially cheaper than the Cap recently. To apply for this tariff, you need to switch to Octopus’ standard variable tariff and then move afterwards! My recommendation I would suggest looking at what tariff you are on at the moment, and if you’re going to be on the Cap see what options are available via comparison site You can bag cashback via Quidco if you use Uswitch to compare and end up moving tariff’s. Alternatively, if you do end up switching to Octopus you can use an existing customer’s referral link to get £50 credit.
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