Energy Price Increase
It’s been difficult to miss news about energy bills over the past couple of months, and you may have seen reports concerning the recurring energy crisis. But what is the energy problem, and what does it imply for your energy bills?
The energy situation is a continuous shortage of energy across the globe, which is impacting many countries consisting of the UK.
As countries started to recover from the pandemic, demand for gas started to enhance once again and may not be fulfilled because of a lack in supply, creating gas rates to increase in 2021. The trouble was worsened by renewable sources like wind and solar producing less power and winter during the winter months requiring more individuals to turn their heating up.
This increase in gas rates has bankrupted some energy providers in the UK. By the back of December 2021, a total amount of 28 energy companies had gone bust, consisting of bigger businesses like Bulb, impacting over 2 million customers. If your energy broker closed down, you do not require to do anything. You will still receive your gas and also electricity as normal. Ofgem, the energy regulator, will relocate your account to a brand-new vendor.
What can I do to minimize my energy bills?
When rates increase, it’s anticipated that between 4 to 6 million houses won’t be able to afford to heat their homes in the UK.
We recommend that you try and lower just how much energy you presently use at home, for instance, turning off your lights when you leave the room or minimizing the amount of times you operate your washing machine in one week.
See below some of our tips:
- Switch off standby
- Draught-proof gaps
- Turn off the lights
- Laundry at 30 degrees
- Stay clear of using the tumble dryer
- Take a 4-minute shower
- Swap one bathroom a week for a shower
- Do not overfill the kettle
- Insulate your hot water cylinder
- Inspect loft and insulate where required
For even more energy-saving advice please get in touch with a member of our team