Millions across UK have days left 'to save up to £284'

Millions across UK have days left 'to save up to £284' The Ofgem energy price cap is set to rise by 13% Millions of households have just days remaining to dodge steeper energy bills, as experts caution that the most significant price cap surge since the energy crisis is poised to kick in next week. More than 18 million homes on standard variable tariffs will feel the pinch when Ofgem's energy price cap jumps by 13% on July 1, according to research by comparison website Uswitch. This rise could heap an additional £4 billion burden onto households nationwide, sparking urgent advice for consumers to explore whether switching to a fixed-rate deal before the cut-off could trim their costs. On paper, the 13% leap translates to an annual increase of £221. Yet the immediate hit to household budgets may prove less dramatic than the headline figure implies, as the rise coincides with the summer period, when most properties consume minimal or no gas for central heating. The £221 estimate is calculated on yearly energy usage. In reality, many families might only witness their bills climb by a few dozen pounds between July and September, with the greater worry being that elevated prices could persist into autumn and winter, when energy demand typically soars. The apparent resolution of the Middle East war means that a feared additional spike in energy costs come October might now be avoided. Currently, 27 fixed energy tariffs are on offer that beat the forthcoming July price cap, with the most competitive option delivering potential annual savings of up to £284 versus staying on a standard tariff. Ben Gallizzi, energy expert at Uswitch, said: "We've taken our message to UK towns, cities and the countryside to warn households of the urgency to take power into their own hands – you don't have to accept rising energy prices. "The price cap may be rocketing 13% in just seven days, but your bills don't have to. The jump in energy rates might seem easier to bear in July while heating is off – but a graver concern is this setting the baseline for a further increase in October. "If you haven't switched in a while, you're almost certainly on a standard tariff, and you will be impacted. Getting off a standard tariff and switching to a fixed deal should be an urgent priority for households. "There are currently 27 fixed deals available that are cheaper than July's price cap, with average savings of up to £284, so act now to ditch the price hike and save." Research conducted by Uswitch revealed that 66% of bill-payers reckon a 10% rise in energy costs would hit their finances hard. Around 17% admitted they'd need to slash spending on necessities like food and transport, while one in 10 said they'd be forced to raid their savings to meet the additional costs. Energy switching hotspots According to Uswitch's figures, Manchester residents are leading the charge in seeking out better-value tariffs, with households in Walsall, Weston-super-Mare, Torquay and Llandudno close behind. At the opposite end of the table, Milton Keynes emerged as one of the areas with the lowest switching activity, along with Cwmbran, Carlisle, Handsworth in Birmingham and Altrincham. Potential household savings Data from Uswitch suggests that the most affordable fixed-rate tariff currently on the market would see a typical household paying approximately £1,578 annually, compared to £1,862 under the July price cap. However, consumers are advised to scrutinise exit fees and other conditions before making the switch, as some of the cheapest tariffs impose penalties for early termination. With less than a week remaining before the price cap increase takes effect, households that haven't recently reviewed their energy arrangements may wish to verify whether they're on a standard variable tariff and compare available fixed-rate deals ahead of July 1.