An energy expert has revealed the top ways to save money this winter ahead of the 10% energy price cap rise starting from October 1 2024. Share your email to get the latest property news We have more newsletters Share your email to get the latest property news We have more newsletters Winter can be a challenging time for many households due to the financial strain that often comes with rising energy bills as temperatures drop. The situation has become more urgent with the recent alarming announcement by Ofgem that the energy price cap will increase by 10% starting from October 1, 2024.
This update means that the typical annual energy bill for a household will rise from £1,568 to £1,717, a huge blow to many considering that energy prices are already around 50% higher than they were before the energy crisis began three years ago. This increase is primarily caused by volatile global gas markets, which geopolitical tensions and extreme weather events have aggravated. While some relief may be in sight for the following year with a potential price drop in 2025, the immediate impact of this rise is devastating for the 27m households on a standard variable tariff, who will feel the full brunt of these hikes.
Thankfully, there are some ways you can keep your home warm this winter without breaking the bank, from smart curtain control to insulating your hot water tank. To help those looking to save cash, energy expert James Elson from EcoHappy has revealed some of the most effective m.