Most Popular
1. Dow Max Drawdown Bear Stock Market 2022 - Accumulating Deviations from the Highs - 21st Feb 22
2.Putin Starts WW3 in Ukraine, Will Use Tactical Nuclear Weapons, China Prepares Taiwan Blitzkrieg - 28th Feb 22
3.World War 3 Phase 1 - Putin WINS Ukraine War! - 25th Feb 22
4.INVESTORS SEDUCED by CNBC and the STOCK CHARTS COMPLETELY MISS the BIG PICTURE! - 10th Feb 22
5.Will There Be A 2024 US Presidential Election? - 3rd Mar 22
6.Gold and SIlver, Precious Metals Sector Is at a Terrific Buy Spot - 6th Feb 22
7.Why Putin Wants the WHOLE of Ukraine - World War 3 Untended Consequences - 6th Feb 22
8.Dow Stock Market Expected Max Drawdown 2022 - 19th Feb 22
9.Stock Market Calm In the Eye of the Inflation Storm - 4th Mar 22
10.M = F - Everything is Waving! Stock Market Forward Guidance - 7th Mar 22
Last 7 days
How Low Could the Amazon (AMZN) Stock Price Fall? - 19th May 22
Bitten by FANG? Clocked by Cryptos? -- 'Air Pockets' Everywhere - 19th May 22
Northern General Hospital Orthopedics Fractures and and Ankle Clinic Consultations Real Patient Experience - 19th May 22
Cathie Wood Goes All in on Teladoc, ARKK INSANE Noob Investing Strategy! - 17th May 22
This is Anything but Positive for US Housing Market - 17th May 22
What Should We Do If There Is No Fed Monetary Policy Pivot? - 17th May 22
All Possible Ways to Earn Free Litecoin - 17th May 22
How low Could the Amazon Stock Price Fall? - 16th May 22
Cathy Wood ARKK INSANITY There is NO Coming Back! - 16th May 22
NASDAQ 100 Stock Market LOWER LOWS & LOWER HIGH - 16th May 22
Sanctions, trade wars worsen US inflation - 16th May 22
AI Tech Stocks Earnings BloodBath Buying Opportunity - 14th May 22
Futures Contract – Trading Crude Oil With USO - 14th May 22
How to Get Kaspersky Internet Security for 80% Discount! Do not Pay Renewal Price! - 14th May 22
Sagittarius A* Super Massive Black Hole Monster at Centre of Our Galaxy REVEALED! - 14th May 22
UK Public Debt Smoking Inflation Gun - 13th May 22
What Happens When the Stock Market Dip Keeps Dipping? - 13th May 22
Biden Seeks Inflation Scapegoats; Gold Advocate Wins GOP Primary - 13th May 22
Apple and Microsoft Nuts Are About to CRACK and Send Stock Market Sharply Lower - 12th May 22
The War on Gold Ensures the Dollar’s Downfall - 12th May 22
Crypto Investors Stable Coins TERROR as Terra USD COLLAPSEs towards ZERO, Tether Next! - 11th May 22
INFLATION IS KILLING SILVER - 11th May 22
The Dominant Investing Theme of the Decade - 11th May 22
Is Bitcoin Headed to Zero? - 11th May 22
RECESSION RISKS 2023 - 10th May 22
The Future of the Dollar Seems So Bright It’s Blinding Gold - 10th May 22
Take Advantage When Markets Succumb to Fear - 10th May 22
How to Recognize a Less\ Than Obvious Opportunity (In focus: Corn) - 10th May 22
How to Ensure Financial Stability for Your Family - 10th May 22
The Stocks Stealth BEAR Market - 9th May 22
A Strengthening US Dollar Is A Double-Edged Sword - 9th May 22
Making Wise Investment Decisions - 9th May 22
Ways to legalize a Moving Company - 9th May 22

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Gas and Electricity Price Trends so far in 2021 for the United Kingdom

Personal_Finance / Household Bills May 05, 2021 - 10:38 AM GMT

By: Dylan_Moran

Personal_Finance With all of the major suppliers increasing their prices, consumers are becoming stressed in the United Kingdom. No one is certain what lies ahead and if the recent price increases will continue for the rest of 2021. With the average increases rising around £96 a year, people are feeling the sting to their wallets. Many are looking to experts to impart wisdom on what can be expected as the year goes on.




Why Are Energy Prices Rising So Dramatically?

Ofgem has recently lifted the price caps that were on standard tariffs. Now, the prices have gone back to pre-pandemic levels, prompting many people to feel concerned. Starting in April 2021, the removal of the cap caused prices to rise from £96 to £1,138 for around eleven million customers on the dual fuel tariff. Prices went from £87 to £1,156 for around four million customers who are on a prepayment meter plan. With such a rise in prices, many consumers need to compare business energy suppliers.

Ofgem introduced its energy price cap in 2019. This cap was designed to help protect individuals from unfair tariff hikes. Now that this cap has been removed, what will happen to customers who cannot afford their energy bills?

Rising Energy Costs Are Leaving Households Worried

Because of the pandemic, households are spending more time at home than ever before. This means more electronic devices being used, and higher usage means increased costs. In addition to increased usage, the caps were lifted at the worst time of the year, during the first quarter. This period is typically when households use around 30% of their energy for the entire year.

Many people are concerned their utilities will be shut off for non-payment. With some still being unemployed due to the pandemic, the risks of people losing their electricity are increasing. So, can anything be done about these rising costs or are households simply going to be left in the dark?



How Can Households Lower Their Energy Costs?

Energy-saving tips are more important than ever before for households that are dealing with rising electric costs. By taking these tips and using them, individuals can begin to lower their costs and find relief from the increasing bills they are being sent.

  • One thing many households can easily do is to turn off standby appliances. Doing this one step alone can save households as much as £30 a year.
  • Installing programmable thermostats can also be helpful for saving money on energy costs.
  • Simply turning the heat down by one degree can save households as much as £80 each year.
  • Using energy-saving lightbulbs is also an important step for saving money. It is estimated households can save as much as £80 per year.

Less usage will equate to bigger savings. Even small steps can add up to big ones when it comes to saving money on energy costs. Simply cutting off lights that are not needed can also help. The more little steps a household takes to cut their costs, the less stress they will feel when prices begin to rise.

Conclusion

Staying abreast of the latest energy costs is more important than ever for households in the United Kingdom that are facing an energy crisis. Households have the right to survey their options and discover which ones will offer the best rates on energy costs. Choosing the lowest price can save households a lot of money each year.

By Dylan M.

© 2021 Copyright Dylan M. - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in