Uswitch responds to Cornwall Insight’s prediction for the April energy price cap

Richard Neudegg, director of regulation at Uswitch.com comments: “Households that haven’t fixed the past year are facing a hat-trick of hurt, with the energy price cap, which standard tariffs follow, predicted to rise in April, having also gone up in October and January.

“April’s energy rates are predicted to be 5% higher than today for the majority of homes that haven’t yet taken a fixed deal. Based on this hike alone, if households don’t take action they could pay around £85 more per year on their energy bills.

“If you have not switched in over a year, you are likely to be on a standard tariff and will be hit with these hikes. But consumers can absolutely avoid the price hike.

“Fixed deals protect you from price rises for twelve months or more by locking in rates. Switching to a fixed deal at or below the current January price cap level is a no-brainer if you want to avoid the predicted April price rise.

“If you’re not ready to fix, consider a deal such as a tracker which guarantees a saving on the price cap, whether it goes up or down. 

“You can’t rely on the price cap to offer the best value. There are deals available right now that will save you money and that you can switch to in a matter of minutes. Today is another warning sign to those on a standard tariff to get off it and lock in a better deal before prices climb further.”