I'm an energy expert and this is what to do if you're in debt to your supplier
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Gas and electricity bills have seen a 10% increase from October 1 after regulator Ofgem raised the energy cap to £1,717 a year, with another hike expected in January. This comes as an additional blow to millions of pensioners who have lost their Winter Fuel Payment due to Labour's policies.
Greg Marsh, CEO of household bill website Nous. co, expressed his concern: "Worryingly, more households than ever are in debt to their energy supplier, owing more than £1,000 on average even before winter gets going." He suggested that those paying by direct debit should check if they've accumulated credit over the summer.
"If you're in debt now, your monthly payments are set too low and you risk building up even more debt over the winter.". As a general guideline, by November, you should have credit worth at least one monthly payment. Marsh also pointed out that direct debit remains the cheapest way to pay for gas and electricity, stating: "Paying by cash or cheque costs around £100 a year more.", reports the Express.
When numerous smaller energy suppliers collapsed during the energy shock, switching became impossible. However, as suppliers start competing for new customers again, Marsh encouraged people to shop around for a better deal, with potential savings of around £150. Money-saving expert Gemma Bird, also known as The Money Mum, suggested that a few affordable hacks can enhance your home's energy efficiency.
Heat can easily slip away through gaps in doors, windows, and other openings, leaving you battling to keep rooms cosy and your heating bills high. Bird has given us the scoop on snagging Diall White self-adhesive draught excluders from B&Q. At a mere £9.97, she raves, "Stick them along door bottoms, window frames or anywhere you feel a draught. They don't leave any marks.".
