ENERGY prices are set to rise by a whopping 54 per cent from April.
That means the average household will have to find an extra £693 a year or £57.75 a month! It’s a big worry for families up and down the country. And in the past, I’d have said you should shop around and switch tariffs, but there simply isn’t anything cheaper than the new price cap. For most, switching won’t save cash.
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There is some help out there. Earlier this month, the Government announced support packages. Households in England in bands A to D will receive a £150 council tax rebate in April.
And every household in England, Scotland and Wales will get a £200 upfront discount on their energy bills from October. But while this will help in the short term, remember it is a loan and will have to be paid back – £40 per year over five years, from 2023 to 2027.
Make sure you visit entitledto.co.uk to find out if you are eligible for any government grants. It’s a great independent site that helps calculate benefits you could be entitled to. It doesn’t just cover energy support either. You’ll also find information on everything from Universal Credit and maternity pay to school uniform grants.
Views expressed in this column are those of the expert and do not reflect the views of Klarna. To learn more about Klarna visit klarna.com/uk/moneytalks
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Five ways to lower your energy usage
- Turn down your thermostat by one degree. It’s a small change but could save you up to 10 per cent on your heating bills.
- Don’t overfill the kettle. There’s no point in boiling water that you aren’t going to use.
- Make sure you take regular meter readings so you know how much electricity you’re actually using.
- Try doing your washing at a lower temperature and always aim for a full load in the machine.
- Draught-proof your home to help keep the heat in. Seal off any gaps around windows and doors, fit a cap over your chimney pot and fill any cracks in floorboards with filler.
