Ofgem April 2024 price cap increase: Energy expert provides 4 simple tips to reduce your bill
Today, Friday 15th December, Ofgem has announced yet another proposed increase in the energy price cap for April 2024 by an extra £16 to cover the £2.9 billion debt accrued by households. This is in addition to the increase in January 2024.
The hike in the cost of living across Britain has seen energy users fiercely struggling to keep up with energy bill costs and consumers paying more than ever before for household bills.
To help, Chris Delaney, one of our Renewable Energy Experts and Managing Director here at Green Building Renewables, has explained exactly what this increase means for you, along with four tips to keep your energy bill as low as possible over the coming winter months.
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Ofgem’s April price hike: households set for an extra £110 increase in energy bills in 2024
Chris explains that “this announcement comes following a consultation Ofgem have had today to propose another energy bill increase in April 2024. This one-off price cap adjustment has been proposed at £16, to be paid between April 2024 and March 2025.
This is a result of almost £3 billion in debt from unpaid energy bills, which is a direct correlation to the cost of living crisis going on in Britain. Consumers are already struggling to pay their bills, and according to Ofgem, the typical household will also see an extra £94 increase in January.
Couple that with another £16, and it’s more money consumers have to find to heat and power their homes.”
Prices can change depending on the tariff and provider consumers get their energy from, so Chris has provided four ways to help keep your energy costs down.
1. Over Christmas, turn off your lights and decorations at the plug
While the price cap is set to rise in January, you can help minimise your costs this Christmas by completing one simple step.
Chris explains that “over Christmas, our electricity consumption increases dramatically with extra lights and decorations that are around the house. We all know that one of the top energy-saving tips is to turn off unused appliances at the plug, but make sure you remember to do this for Christmas decorations too. Save the illuminations for nighttime, and keep them switched off at the plug during the day. It would also be more beneficial to opt for solar-powered lights on the exterior of your house as this will drastically reduce costs.”
2. Speak to your provider to set up an affordable payment plan
Chris explains that “some providers, if you speak to them, can work out a payment plan which is much more suited to your monthly budget. By working out a way to pay that works better for you, it’ll help to reduce your monthly costs. Direct debits are potentially a way to pay less overall.”
3. Wash your clothes at a lower temperature
Whilst the 60-degree wash cycle can seem tempting, it can also hike up your bill.
Chris says that “the festive season brings more socialising and guests staying over, automatically creating more washing for your household. However, if you’re constantly putting things on a 60-degree cycle, it will increase your bill. We would recommend a 30-degree wash over the winter as your clothes will remain clean but your bill will be reduced.”
4. Bleed radiators to bring costs down
Bleeding radiators will remove air pockets, therefore reducing pressure in the radiator. Chris explains that “this will mean you don’t need to turn your heating up to a higher temperature, as your radiators will be operating much more efficiently.”
If you’d like to talk to one of our renewable energy experts about how switching to green energy can also help you to reduce your energy bills, get in touch today!