Gas and electric prices are going to rise
From October 2021 your gas and electric prices will rise by at least £139. Ofgem who is the energy regulator, said energy price cap for people on default tariff will rise by this amount. So typical bills on default tariffs, when paying direct debit, will go from £1,138 to £1,277.
And, if you are on pre-paid meter you will see an increase of £153 and your bill will go from £1,156 to £1,309.
Why is the price increasing?
Ofgem said that due to steep rise in the price of buying gas and electric, the price of energy will go up.
Where and how can I get cheaper deals and save money on my gas and electric?
If you are on a default tariff ask your energy supplier if they can move you to another tariff, preferably to their cheapest tariff. If they do that then you will be able to save some money. But, usually they might not put you on their cheapest tariff as some tariffs are for new customers only.
So if you can move to another supplier as a new customers you might get a much better deal.
How can I switch suppliers?
What to do if you can’t afford to pay your energy bills
If you are having difficulties paying your energy bills check out our article: What to do if you can’t afford to pay your energy bills.