It’s easy to forget to compare gas and electricity prices, especially if you’ve been on the same tariff for years. It’s important to check, because you could save £100s per year by switching to one of the best energy deals
The increasing cost of living is being felt in most households hard, and the over 50’s often suffer more than others in these periods of inflation. Energy costs take a large slice of the household budget, and most forecasts predict these are set to rise even further over the next five years.
The good news is that it’s possible to freeze the rising costs of home energy by switching suppliers. You could even save as much as £200 a year by switching to a better deal. Research by Moneysupermarket.com indicates that over £3.5 billion is wasted in the UK by homeowners paying too much for their energy supplies.
The impact of rising home energy bills is affecting everyone in the UK, but there are several reasons why the over 50s are feeling the squeeze more than others:
– Mature people often live in larger houses which were family homes before children have grown up and flown the nest. Larger properties cost more to heat, and any gas and electricity price rises have a proportionately higher impact. Mature people often live in older properties which don’t have the benefit of the energy efficient design and construction of modern homes.
– Over 50s are often semi-retired or retired, and spend more time at home than couples who are out at work all day.
– People in their later years often feel the cold more, and temperature drops can impact health in the depths of winter. As well as having to heat their homes continuously, the elderly may need to turn thermostats up higher.
The Solution? Switch and Save…
In spite of all the bad news about rising prices, competition in the energy supply market means there are easy ways to make great savings. Loyalty doesn’t usually pay in today’s world, and the best way to reduce your bills is probably to switch to a new supplier. You may simply ask the question, ‘Who are the cheapest gas and electricity suppliers?’ but the only way to find out is to make a personal comparison.
You may have heard tales of unscrupulous doorstep sellers and high-pressure sales techniques used by energy companies in the past, but there’s no need to worry if you take control of the switching process. Government regulation is in place to protect you, and you’ll find energy suppliers make the process very easy. You can usually complete a switch within four to six weeks, and there’s no need to contact your existing supplier as the new company will do this for you.
Savings of around £200 a year are typical, and you can rest assured that you are on the best possible energy tariff if you compare the market and check you are with the right supplier. It’s possible to approach an energy supplier direct and enquire about switching, but this can be a very time consuming and confusing process. There are literally thousands of electricity and gas tariffs available to UK consumers, and trying to compare them all is virtually impossible.
A switching service can save you hours of confusing research, and makes it possible to compare all the deals available in a matter of minutes.
A good switching service should offer independent and impartial advice about the best energy deals available based on your personal circumstances. Ofgem accreditation or membership of Energywatch are good indicators that a company is reputable.
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