How you can beat rising energy prices

Gas flame

Energy suppliers are expected to increase prices yet again, according to Mark Todd, director of the comparison website, fears prices could rise as early as May.
"Suppliers are seeing wholesale prices continue to rise because of world events and many investors are not happy with some energy company profitability levels and want prices to go up even more, on top of the recent average rise of 5.9% over the winter," he explains.
"A major price movement of around 15% is expected between August and November but suppliers are currently thought to be considering smaller spring price adjustments before then."

Compare energy prices and switch provider
All six of the big energy providers – British Gas, Scottish Power, Scottish and Southern Energy, npower, E.ON and EDF Energy have increased their prices in recent months.

However, while energy prices might be rising, consumers don't necessarily have to put up with bigger bills. By switching to a more competitive deal it could be possible to offset any price hikes.

Could you save now?

Taking a typical three-bedroom semi-detached in St Albans, currently paying out £75 a month for gas and £32 a month for electricity, Moneywise checked out the possible savings currently on offer.

Compare Energy – switch and save £100s

British Gas WebSaver 11 Dual Fuel
Annual bill: £1086.59
Annual saving: £197.41
Exit penalty of £30 for each fuel if you leave before May 31 2012
Minimum of 6% discount on standard British Gas Tariff until May 31 2012.

Scottish Power Online Energy Saver 14 Dual Fuel
Annual bill: £1158.07
Annual savings: £125.93
Exit penalty of £30.64 for electricity and £20.42 for gas if leave before April 30 2012
Minimum of 2% discount on standard Scottish Power Tariff until April 30 2012

EDF Energy Online Saver 12 Dual Fuel
Annual bill: £1216.87
Annual savings £67.13
Exit penalty of £50 if before September 30 2012
Minimum 2% discount on standard EDF Energy Tariff

Npower Go Fix 5 Dual Fuel
Annual bill: £1241.44
Annual savings: £42.56
Exit penalty of £20 per fuel if cancelled before May 31 2012
Prices fixed until May 31 2012

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Your Comments

I'm currently with Scottish Power and was on the Online Energy Saver 12 Dual Fuel tariff, which will be effected by their recently announced price increase.

I contacted Scottish Power and I'm now on their Platinum tariff, which is fixed until January 2014 and has free bolier maintenance cover included. It means I'm not affected by any increase for the next three years. The only downside being I would not get the benefit of any price decrease during the same period.

I was with British Gas,last December when they put up their prices, it was reported in the national press that the increase was 7 %, when in fact my bill went up by 26 %, for using the same amount of electricity. This when I was on their click 6 rate, when this ended this May and my charges were going to increase again,I decided to shop around and decided to move to Ovo energy. They do not have Primary and Secondary units, just one unit rate and a daily standing charge. Even after paying the standing charge and the number of what would have Primary units with BG, I have already saved money and continue to do so with ever unit use after that. In addition something that Ovo do not make a big deal over is the fact that what ever rate you sign up to is fixed for 12 months.

With winter just around the corner...oh! hold on, i think it's here already! The boiler is going to be racking up the heating part of the energy bill. A central heating management system provides all that you need to regain control of your energy bill. You should take a look here.