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Money saving

Cut the cost of your energy bills

Posted 02 March 2017

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Understand your next steps

If you’re worried about the demands on your money, see whether you can make a saving on your energy bills.

Are you looking for ways to cut down on your expenses and save money? If you are, you should look at your gas and electricity costs and see if you can make an improvement in this area. Not sure where to start? Let us point you in the right direction.


Compare what’s out there

The first thing you need to do is make sure you’re not paying more than you need to.

Comparing suppliers might seem like a bit of a chore, but it really is worth it and thanks to sites like Compare the Market, MoneySupermarket, and Uswitch it’s easier and less time consuming than ever before. Put a bit of time aside, visit a comparison site and have a look at what’s on offer. Uswitch have a handy guide to switching suppliers, which sheds some light on what will happen if you do find a better deal and want to change.


How you pay makes a difference

Paying monthly by Direct Debit is normally the cheapest way to pay your energy bills. If you’re on a meter and you want to look into switching, have a look at our blog about the difference between Direct Debits and prepayment meters.

If you’re on a standard tariff, you might be able to make a saving by switching to a fixed tariff. Sometimes you can do this without even changing suppliers and it means that you’ll be protected from any price increases for as long as your fixed period lasts. You can still look into switching even if you’ve already switched in the last year or two and in some cases you can still switch if you’ve got arrears, so get in touch with your supplier and find out what’s available.

It’s also worth checking if you’re eligible for a rebate on your bills. The Warm Home Discount Scheme is a Government scheme that can reduce your bill by up to £140. You apply directly through your energy supplier.


Gas and electricity are priority bills

Juggling lots of payments can be difficult and, if you’re unable to afford all your bills it might come down to a choice of what to pay some months. Just remember that your energy bills are a priority, because the consequences of missing these bills are worse than missing another unsecured payment, like a credit card for example.

So make sure that you remember to pay these kinds of bills first along with your Council Tax, rent/mortgage and any secured debts you may have. If you’ve already missed a few payments, contact your supplier, let them know why you’re struggling and see if they can do anything to help you.

by Christine Walsh

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To find out more about managing your money and getting free debt advice, visit Money Advice Service, an independent service set up to help people manage their money.