Richard Neudegg, director of regulation at Uswitch.com comments: “Energy prices look set to remain high into the new year, with little respite for households struggling as the winter cold sets in.
“Ofgem is expected to confirm the January price cap later this week, but April is when we could expect a significant increase. Forecasts suggest we could be looking at a hike of £75 in spring to pay for energy network maintenance and upgrades.
“There have been rumours the government may cut the 5% VAT on our energy bills — not factored into this forecast — but households will have to wait and see what’s announced in the Budget next week.
“Far too many are paying more than they need to for their energy by sticking with the default option.
“The majority of homes are still on a standard variable tariff and can save on their energy bills by switching to a well-priced fixed deal now.
“There are currently 26 fixed deals that undercut the current October price cap, which offer savings of around £185 for the average household.”
ENDS
For more information
Rianna York | Energy PR Manager
rianna.york@rvu.co.uk
Twitter: @UswitchPR
