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Every energy supplier has raised their prices in 2017 – but you can fight back

Victoria Arrington
Dec 13, 2017


Every major UK energy supplier raised their prices on Standard Variable tariffs in 2017 - but that doesn't mean you have to pay more. 

Two-thirds of the UK are on these tariffs and if you are one of them there is a good chance you have seen a recent increase in your energy bills.

FORGET THE BIG SIX. FIND A BETTER DEAL ON ENERGY

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But how much of an increase are we talking about?

Here is a chart outlining how much energy prices have gone up in the past 12 months: 

 

Supplier

Date of Most Recent Price Rise

Increase:
Gas

Increase:
Electric

British (Scottish) Gas

15th Sep 2017

-

+12.5%

E.ON

26th Apr 2017

+3.8%

+14.0%

EDF Energy

21st Jun 2017

+5.4%

+10.1%

npower

16th Mar 2017

+4.8%

+15.0%

SSE

28th Apr 2017

-

+14.8%

ScottishPower

31st Mar 2017

+4.7%

+10.8%

 

And those numbers add up.

For instance, if you spend an extra £75 on energy in the year to come, it may seem not so bad at first.

But after a few years, that number can really creep up on you. Assuming the unlikely scenario you have no additional price rises over 5 years, that extra £75 in bills would add up to £375.

And after 10 years, you will have overpaid by £750!

READ MORE:
*Are you with Npower? You might be paying £350 too much
*Family saves £540 switching energy from Sainsbury's at new house
*Are you one of the 60%? If so, you could be £300 better off in five minutes

 

Don't stick with the 'Big Six'

Your prices will likely rise if you simply stay with one of the 'Big Six' energy suppliers.

Just listen to Ofgem - the energy industry regulator: 

"Comparing and switching supplier or energy tariff can make a big difference to your gas and electricity bills – with annual savings of around £300 available."


So, if you were to switch and avoid a £75 rate increase from your old supplier and the £300 above, that would create total annual savings of £375.

But if you look at what adds up over 5 years, that amount jumps up to £1875 of money saved. And over 10 years, it really takes flight, ballooning to a huge £3,750.

Not only could shopping around save you around £300 on your bills, but by switching to a fixed term contract it could also help you dodge future price increases.

TOP TIP: Stay on top of your energy spend by making it a habit to switch at least once a year.

Experts across the board, including Ofgem, recommend it as one of the best methods to keep your energy bills low.

 

How to lower your energy bills (the easy way)

The less energy you use, the lower your bills will be. But is it that straightforward?

Your next-door neighbour may very well consume more energy than you, but can still boast a lower bill. How? By paying less for their supply.

Just like any item, energy has brands. Two different brands may well normally give you a very similar or different product with prices reflecting quality.

COMPARE QUOTES TO GET THE BEST DEAL ON ENERGY

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But energy is a special case - the “product” you get essentially works the same across the board. Energy is the same no matter who you buy it from.

That’s why switching energy can be such an easy way to save. And the savings could add up to much more than switching toothpaste or ketchup brands!

With the potential savings we have just seen (especially with a cumulative figure as high as £3750), it only makes sense to compare shop and get a great deal on your energy bills  - just like you would for anything else.

Find out if you could save £100s by switching energy suppliers?