Energy – are you paying too much?
Npower, one of the ‘Big Six’ energy firms, has announced an increase in prices.
The company is to increase a typical dual fuel annual energy bill by an average of 9.8%, or £109.
This is made up of an average increase of 4.8% to gas prices and 15% to electricity prices.
The price increases will come into effect on 16 March. Npower said the changes would affect about half of its customers. Its likely that other suppliers will join Npower in raising their prices. Its a good time to shop around for a better deal. Comparing energy tariffs and deals regularly can help you make sure you’re getting the best gas or electricity tariff for your usage and the best service offer. It can also highlight if you could cut your bills by switching supplier.
It pays to shop around. Ofgem research finds comparing and switching supplier or energy tariff can make a big difference to your gas and electricity bills – with annual savings of around £300 available. If you’ve never compared energy tariffs or switched gas or electricity supplier, it may seem a daunting process. But Ofgem says it’s actually quite simple.
To switch energy supplier you’ll need:
- Your postcode
- The name of current supplier
- The name of the energy offer you’re currently on and how much you spend on gas and electricity. You can find this information on a recent bill.
- An up-to-date meter reading
- Your bank details if you will be paying by direct debit
- Your Meter Point Access Number (or ‘MPAN’) and Meter Point Reference Number (or ‘MPRN’). You can find these on a recent bill.
Once you have agreed to switch you still have time to change your mind. You’ll have 14 days to cancel a switch from the date you start a contract with a new supplier
For more information visit the Ofgem website https://www.ofgem.gov.uk/consumers/household-gas-and-electricity-guide/how-switch-energy-supplier-and-shop-better-deal