Energy price caps and you
General Election 2017
The election news yesterday was very focused on the message about proposed energy price caps. In theory, price caps are designed to protect and keep consumer costs down. I’m sure that many of us will have heard much of this rhetoric before (and from more than one political party).
The energy providers themselves also stepped into the ring to share their own thoughts on price caps. Trade association Energy UK (a lobby group for the sector) pointed out that introducing a price cap “risks undermining so many of the positive changes we are seeing in the market which are delivering benefits for consumers”
But what can we do?
We should step out of the ring for a moment and consider the bigger picture here. What can you and I do about increasing energy prices? What does it really mean for our own households?
- The energy companies (particularly the ‘Big Six’) have been telling us for a while about the rising cost of wholesale gas and electricity. We’ve been told to expect those increases to be reflected in our own bills. The advanced warning means time to prepare.
- Many of us are still not on a price tariff that best matches our energy consumption. Signing up to the best deal is possible. Use one of the many comparison websites out there to compare and check the different options available.
- There may be things we are doing at home that cause us to unintentionally consume more energy (both gas and electricity) than we realise. It’s time to take an energy audit of our own and start taking control.
- Sometimes, being energy aware isn’t enough. Old or inefficient boilers. Poor insulation. Badly fitting windows and doors. All these can lead to an uncomfortable (and expensive to run) home.
As I write this, the election is still just under four weeks away and decisions about energy price caps even more distant. Take positive steps now to improve energy efficiency at home. You should then see a reduction in your bills, whoever ends up at No. 10.
Find out how we could help you to improve the energy efficiency in your home and reduce your bills (price cap or no price cap). Pop your details on the form and one of our team will be in touch.