Should I Fix Energy Prices Now?
Energy Price Cap – October 2024
Ofgem have announced the new price cap due to be in place from October. This will see a typical household’s annual energy bill rise by £149. People using an average amount of gas and electricity will pay £1,717 a year, a 10% rise compared with now.
For more information on the price cap itself and what it will mean for your bills, read here.
Should I Fix Energy Prices Now?
With the rise in the energy price cap less than two months away, now could be the time to explore fixing your energy tariff. Historically, switching suppliers could lead to significant savings. However, in recent years, this wasn’t always the case due to the volatile energy markets. Almost every household is now on a standard variable tariff governed by the price cap, which changes every three months.
Experts like Martin Lewis suggest that if you can find a fixed deal that’s no more than 9% higher than the current price cap, it might be worth locking in. Although high exit fees on long-term fixed deals are a concern, for households with higher energy usage, the potential savings could outweigh these fees. It’s also worth noting that some of the better fixed deals might only be available to existing customers, but they’re still worth exploring.
Find The Best Tariff and Save Money With LEAP
LEAP is a completely free energy advice service, helping you save money on your energy bills and stay warm during the colder months.
We’re proud to deliver the LEAP service in partnership with Peterborough City Council, South Cambridgeshire Council, and Rutland County Council.
After you’ve applied for LEAP and your eligibility has been checked, the LEAP booking team will arrange for one of our highly skilled Home Energy Advisors to visit your home, at a time that suits you.
During the visit, they will conduct an energy assessment of your property, provide energy-saving advice, and install FREE energy-saving measures such as LED light bulbs, draught excluders, and more. They can even refer you to income maximisation services or assessments for larger energy efficiency measures and appliances.
On a home visit, our advisor can help you find the best energy tariff and provide support in reducing your bills. They can review your current energy usage and help you assess whether switching or fixing is the best option for you.
Our goal is to ensure you’re on the most cost-effective plan available, potentially saving you hundreds of pounds each year.
LEAP Eligibility
You’re eligible if:
- You have a low income (less than £31,000)
- You receive universal credit
- You receive housing benefit
- You receive an income or disability related benefit
Don’t wait until it’s too late!
With the energy price cap set to rise in October, now is the time to review your options. Don’t wait until your bills increase—take action now to secure a more stable and affordable energy plan.
About Us
Green Energy Switch (GES) delivers a broad range of energy services across the UK; specialising in working with social landlords and local authorities. Established in 2006, GES is a subsidiary of environmental charity PECT. Any profits made by GES are gifted back to PECT to help fund their vital work.
