Top Tips to Save You MoneyWhen the Energy PricesSkyrocket Tomorrow
The energy price cap hike is almost upon us, unfortunately this means tomorrow (1st April) there will be a 54% increase on your energy bills which adds around £700 to the average bill. Slated to go even higher in October by another 40%.
Martin Lewis of the famed MoneySuperMarket has kindly provided us with some tips on what you can to do lessen the heavy blow of this increase. Here is our summary of these tips, including some recent updates:
Government Help
It isn’t all doom and gloom as there are government schemes in place to help mitigate the impact on households across the UK.
One of these comes in the form of a Tax Rebate. If you are in the tax bands of A – D you will be eligible for a £150 council tax rebate, which will automatically transferred to those of you that already pay by direct debit. Don’t fret if you don’t pay by direct debit as your council should send you a letter informing you of their particular procedure.
The second scheme is a £140 million fund for those of you who do NOT fall under these tax bands. This however is not guaranteed money as it will be reserved for those who are struggling more than most with the hike.
Pre-Pay Meters Tip
Caution: A recent update has revealed that this trick may NOT work, but if you are due to put money on your meter, then it may be worth adding a bit extra.
This tip is only for prepay meters that are NOT smart meters. The idea is that if you max out your top-up before the hike, then in theory that is carried over to April, thus extending the cheaper rate past the price rise. As stated earlier, this is not 100% confirmed, but for some it may be worth putting on a few extra quid if you are due a top-up anyway.
As these rising energy costs make the cost of living more difficult for us all, there is a need more than ever to be energy conscious, not just for the environment but to save the pennies where it counts. Changing your boiler can actually reduce your energy spending year after year, starting from £300 in-fact. Visit our website to get yourself a quote with finance packages available.
