Go.Compare energy expert reacts to the latest OFGEM energy price cap rise

OFGEM has today announced that the energy price cap will rise by 1.2% from January 1st 2025, a rise of £21 from the previous price cap of £1,717 to £1,738.*

Gareth Kloet, Go.Compare energy spokesperson, commented on the news: “As energy consumption rises with the colder, darker days and we see increased pressure on the UK’s energy supply, today’s announcement of another energy price rise likely won’t be a surprise to many. However, as with any price increase, it’s sure to be unwelcome news for many households.

“The energy market has warmed up in the last year though, and there are options out there when it comes to switching providers which could potentially help you save some money. If you are currently on a flexible tariff, then now is the time to take a look at some of the fixed-rate deals on the market – there are a variety of suppliers with deals at the moment which could help soften the blow of this price rise.

“For those on a fixed tariff already, you can still opt to switch to another provider, but it is worth bearing in mind that your current provider likely has exit fees which you will have to pay - and these could cancel out any savings you might make by switching. So, before making any hasty decisions, take a look at your current tariff as well as your average energy usage, and head to a comparison website to find out which options are available to you.

“Whether you switch or not, it’s important to take a meter reading as close to the 1st of January as possible, to make sure you are charged for the right amount of energy at the right price. Even if you have a smart meter, taking a manual reading monthly is a good way to make sure your energy usage is being captured correctly.”

To find out more about how to switch energy providers, Go.Compare have compiled a guide which you can find here.

Gareth added: “With the darker and colder months upon us, it’s only natural that your household energy consumption will increase. While taking a look at your current energy deal is one way to see if you can save some money, there are a few different things you can do to help reduce your energy bill:

• Opt for energy-efficient appliances: While it isn’t cost-effective to go out and replace your kettle, toaster and washing machine just to save on energy bills, if you are purchasing a new kettle then take a look at its energy-efficient rating. It may seem simple but the savings could add up.
• Move large furniture items away from radiators: If you have your radiators on high but your home still doesn’t seem to be getting any warmer, then make sure you don’t have any big items of furniture in the way. Simply moving your bed or sofa an inch away from the radiator can really improve the efficiency of heating a room.
• Don’t overfill the kettle: For those who like a cup of tea, or four, a day - think about how much water you are putting in your kettle each time you boil it. Boiling more water than you need wastes energy and could be costing you.”

For more energy savings tips, visit: https://www.gocompare.com/gas-and-electricity/guide/energy-saving-tips/