Follow Us on Facebook Follow Us on Twitter Follow Us on Google+ Follow Us on Pinterest Follow Us on Tumblr Visit our YouTube Channel Subscribe to our Feed Subscribe via FriendFeed

Connect With Us

Ways To Avoid An Energy Budget Crunch

by Jim ONeil on June 29, 2011

in Personal Finance Tips

If you have £175 in your account, you can buy quite a few things. This money can also be spent on the home fuel bill. The only difference is nothing will be received in exchange. The typical home fuel bill is anticipated to increase by this amount, with UK consumers receiving no extra gas or electricity in return.

Scottish Power will increase electricity rates by ten percent and gas rates by 19 percent in August. The other large energy firms are expected to follow, with British Gas company results indicating the move. To avoid needing payday loans to pay fuel bills, consumers should take action now to fix tariffs.

Fixed-rate options offered by most energy companies guarantee the rate will not increase for a predetermined time. By switching to the cheapest fixed tariff plan, UK consumers can save up to £150 per year from standard tariffs.

Though the least expensive online tariffs are cheaper than these fixes, price increases are possible with these. If the expected increases are implemented, even the least expensive tariff will become more than the cheapest fixed cost.

Anyone who wants to make a change should do it now. Many cheap fixes have already been replaced by options that are more expensive. It can take more than two months to switch plans, so act quickly. Rather than just fixing with the existing provider, use a comparison site.

The new prices from Scottish Power are already listed on these sites.

Some people will have to pay more to fix their tariff and if the fix is over 15 percent higher, making the move will not likely yield substantial savings. Consumers with an old fix are probably paying less than what the new fixes offer.

Many fixes are permitted to be transferred to new homes so relocating consumers should check on this.

Comments on this entry are closed.

Previous post:

Next post: