7 ways to save on gas and electric ahead of Ofgem energy price cap rise
The worst cost of living crisis for decades is eating into household budgets up and down the UK.
Supermarket food prices as well as fuel costs have already risen sharply over the past six months, while energy prices are set to rocket from Friday (1 April) due to the 54% increase in Ofgem’s energy price cap.
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Hide AdBoris Johnson’s Government has sought to intervene by providing an energy bills loan and a council tax rebate, but has been urged to go further as the Russia-Ukraine war is set to send inflation even higher.
So, given it does not appear as if any extra meaningful state support is on its way, what can you do to cut your household energy bills?
We have sought out some of the best tips for how to save money ahead of the price cap rise.
Energy bills quick wins
These are the things you can do right now to make a quick saving on your energy bills.
Top up your electricity prepayment meter before Friday
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Hide AdIf you have a prepayment electricity meter it could be worth topping it up before the Ofgem energy price cap increases on Friday (1 April).
Most prepayment meters for electricity and gas are on tariffs governed by the price cap, which means households who have them will be fully exposed to the 54% increase and could see typical usage costs soar to more than £2,000 per year.
There had been suggestions consumers would be able to temporarily get around the rise by adding the maximum top up possible to their electricity meters before the new cap comes in - therefore, delaying when the new rate would apply from.
Money Saving Expert Martin Lewis has sought to clarify with Ofgem and the major energy suppliers whether consumers will be able to continue to pay the existing rate after 1 April if they do this.
However, Mr Lewis has had a mixed response.
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Hide AdMajor supplier Scottish Power will apply the new energy price cap rates from 1 April regardless of whether you have topped up beforehand.
The other major suppliers have been less clear, although Martin Lewis said he thinks the trick could still work for British Gas, Octopus, Shell Energy and Bulb customers.
Essentially, you stand to lose nothing if you try it (unless you need to keep hold of money for cashflow reasons - in which case, the best advice is not to do it).
But you could cut a third off your energy bills if the trick works out.
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Hide AdIt’s key to note that this hack will only apply to electricity prepayment meters and NOT gas prepayment meters (unless your gas is supplied by Octopus energy).
Martin Lewis also recommends taking a picture of your meter and e-mailing it to yourself to ensure you have evidence with which to fight back against your supplier if they overcharge you.
For more in-depth advice on this, visit the Money Saving Expert website.
Turn off your devices
It’s the bit of advice we’re always given but forget to follow.
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Hide AdAccording to the Energy Saving Trust - an independent organisation that promotes energy efficiency and sustainable energy use - turning devices like TVs and games consoles off completely rather than letting them idle on standby could save you £55 a year.
This estimate, and all the other estimates from the organisation included in this article, are based on the new energy price cap.
Watch your shower time
Keeping your shower time to four minutes - the equivalent of a long pop song - could also lop money off your annual bill.
By doing this and ditching your one bath per week, you could stand to save yourself £35 per person in your household, the Energy Saving Trust says.
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Hide AdIf you want to make an even bigger saving and hold a gym membership, it’s worth showering after your workout or swim.
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