Switch on to switching
Westminster residents are among the least likely to switch their energy provider, according to national research. And with many providers increasing their charges for 2017, it is always a good idea to check out your bill and see if you can save money. If you are on standard variable tariffs, you should try to lock into cheap fixed-price deals. Cheaper fixed- rate tariffs can give longer protection against any future price hikes.
Fixed rate deals
Most competitively priced tariffs available nowadays are fixed priced deals. This means the rate you pay for each unit of gas or electricity you use, and for your daily standing charge, won’t go up for the duration of your contract. Being on a fixed deal has tended to offer better value than being on a variable rate tariff. You should do an energy comparison to see if you are on the best deal by checking independent price comparison websites.
There are also quite a number of other comparison sites to look at. You can also visit our national website which provides a range of tools and information about energy bills https://www.citizensadvice.org.uk/consumer/energy/energy-supply/
You may be able to make energy savings by reducing your power use, either through energy-saving appliances or smarter practices at home. But beware, energy- saving goods may be cheaper to run, but can be costly to purchase and install. Do not fall for misleading claims. On the one hand switching could save you hundreds of pounds each year, but beware of hefty exit fees for dual fuel.
If you are on a low income, making ends meet takes careful organisation. You should budget carefully and look at claiming all the benefits you are entitled to and look at ways to cut costs. Check entitlements to benefits and tax credits. Budgeting shows you where your money goes and where you might have a chance to save money. It will also help you see whether you are living within your means. You can have difficulty increasing the amount of money coming in, but may have more control over what goes out. Budgeting can help you stay on top of your bills.
Call our Wiser Money team at Citizens Advice Westminster for more advice and information on 0300 330 1191.