Energy Price Increase
It’s been hard to miss information regarding energy bills over the past few months, and you may have seen news regarding the ongoing energy dilemma. However, what is the energy situation, and what does it mean for your energy bills?
The energy situation is a recurring lack of energy throughout the world, which is influencing many nations, including the UK.
As countries started to recover from the pandemic, the demand for gas began to increase again and couldn’t be met because of a shortage in supply, creating gas prices to boost in 2021. The issue was worsened by renewable sources like wind and solar producing much less power and cold weather requiring more people to turn their heating up during the winter season.
This increase in gas costs has pushed some energy suppliers in the UK to close their businesses down. By the back of December last year, a total amount of 28 energy businesses had gone out of business, consisting of bigger companies like Bulb, affecting over two million consumers. If your energy company goes bust, you do not need to do anything. You will still receive your gas and also electricity as usual. Ofgem, the energy regulatory authority, will move your account to a new company. They will let you know which one you have been moved to.
What can I do to minimize my energy bills?
When prices increase, it’s forecasted that the number of houses that can’t afford to warm their homes to the temperature needed to maintain them warm and also healthy will increase from 4 million to 6 million.
We recommend that you try and minimize just how much energy you currently utilize at home, such as shutting off the lights when you leave a room or minimizing the number of times you use your washing machine or dishwasher etc., per week.
See listed below several of our tips:
- Turn off standby
- Draught-proof gaps
- Turn off the lights
- Washing Machine at 30 degrees
- Stay clear of using the tumble dryer
- Take a 4-minute shower
- Swap one bathroom a week for a shower
- Don’t overfill the kettle
- Insulate your hot water cylinder
- Inspect loft and insulate where required
For even more energy-saving advice, please get in touch with a member of our team.