Energy bills are rising today - what you can do now to cut your costs

Energy bills are rising today - what you can do now to cut your costs The price cap limits what you pay for unit rates of gas and electricity, rather than a total limit on your energy bill Energy bills have risen today as the new Ofgem price cap comes into force. The price cap has gone up by 4% - taking the average yearly gas and electricity bill for a household that pays by direct debit from £1,663 to £1,723. The price cap limits what you pay for unit rates of gas and electricity, rather than a total limit on your energy bill. But experts say energy bills could soar by almost another £300 this winter. Cornwall Insight predicts the price cap could hit £1,999 a year this January - up by 16% or £276. Energy prices are being driven higher by the escalating conflict in the Middle East, which has disrupted global gas supplies. If you're worried about your energy bill, here is everything you can do now to lower your costs. Consider fixing your tariff Uswitch says there are still fixed tariffs that are cheaper than the predicted January price cap - and some that still undercut the October price cap. A fixed energy deal locks in the price you pay for unit rates and standing charges for a set period of time. It means you are protected if the price cap does rise again, but if prices were to fall, you could end up overpaying. It is worth looking at what exit fees you would have to pay if you wanted to leave. You can always leave a fixed deal penalty-free in its final 49 days. Cut your energy use Keeping an eye on your energy useage this winter will be crucial to helping keep your bills down. Turning down your main room thermostat by 1°C can save you up to 10% on your yearly heating bill. Other small measures like turning appliances off standby and turning lights off when you leave the room an also add up. There are some devices you should keep switched on - such as your fridge and freezer. Get your home ready for winter Now is a good time to get your home in check before temperatures drop. Turn on your heating so you know it is working properly and ensure you are up to date with getting your boiler serviced. There are also some easy fixes around your home you can do to help keep the warmth inside - for example, block up any draughts by sealing gaps around doors, windows, and floors. Other checks include adding insulation to exposed pipes and bleeding your radiators. Be ready for winter payments There are several winter payments that will be due this winter for low income and pensioner households. Winter Fuel Payments are worth up to £300 and are paid to state pensioners. If you earn over £35,000, you will still be sent the payment, but you'll have to pay it back through the tax system. The Warm Home Discount scheme gives you £150 off your bill if you get certain means-tested benefits. There are also Cold Weather Payments which are worth £25 when the temperature is recorded as, or forecast to be, 0C or below over seven consecutive days. Speak to your energy provider If you are worried about falling behind on your energy bill, contact your supplier as soon as possible. They should discuss what help is available, including payment plans and affordable debt repayments. Most of the major energy firms also offer hardship funds or grants for people who are in energy debt. Finally, several charities can offer you support and guidance if you are struggling to pay for your energy, or if you are in energy debt.