Energy Prices: Fix, Switch Or Stick?


The jury is currently out on the action we should take about energy prices, as the cost of gas and electricity threaten to go through the roof.

Many experts are saying you need to fix your tariff as soon as possible as fixed deals are rapidly closing, and at least with a fixed rate, although you’ll probably be paying more to begin with, you’ll be sheltered from any further rises, at least for the foreseeable future.

Others suggest that fixing might not be the best route to take, suggesting that all the current fixed rate deals have the expected price rises already built into the price, so don’t represent great value. Of course, this could be a gamble if prices continue to rise (but could be a good call if prices eventually fall).

Finally, for those who have never moved energy supplier, it still might be worth switching to  a new supplier, as this can save hundreds of pounds on your bills. Work out how much energy you’re using, then try putting the details into some comparison websites and seeing what they have to offer.

Regardless of what you decide to do with your energy tariff, there is one way to ensure you pay as little as possible; reduce your energy usage.

Look around your house at the appliances that get left on (televisions on standby, computers left running when unused) and you’ll quickly begin to see where you can save electricity. It’s possible to save up to around £40 per year by switching off appliances completely when you don’t need them. It might sound like a small amount, but add it to other savings and it all begins to mount up.

For greater long-term savings, prepare for the coming winter (I know, Summer has hardly started yet) by considering installing or improving the insulation in your house, including putting down loft and cavity wall insulation and fitting a jacket to your boiler  – this can cost a fair bit initially, but over a few years of bills in their thousands you’ll soon recoup the cost. It will help stop the cost of heating your home go through the roof, literally.

You could also be eligible for grants to carry out energy efficiency work in your home – check out for more information.

Creative Commons License photo credit: AZAdam

One thought on “Energy Prices: Fix, Switch Or Stick?

  1. Well, I can’t fix anyway as apparently there aren’t any gas only fixes. Looks like the coming winter is going to be both cold and expensive. Reducing energy is the only way to go.

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