Since 2021, we have seen huge hikes in the cost of living, and our energy prices have been the main reason for household bills soaring.
In Northern Ireland, every energy supplier raised prices on multiple occasions, and often by double digits as well. This has added up to between £400-£700 to average electricity bills, and a staggering £1,00-£1,800 to average gas bills.
Obviously, this has created an uncomfortable squeeze for households this winter—the most expensive time for heating and powering homes—and the government has addressed the issue in the form of financial support. In particular, the Energy Price Guarantee has helped shield people from the full effects of these price rises but is not enough to undo the full effects of the price rises. Energy bills will still be much higher than they were the year prior.
In this blog, we are looking at how much extra customers for every energy supplier in Northern Ireland are paying on their electricity and gas bills.
Are you struggling to cover costs?
If you are having difficulty covering your energy bills at the moment, you can check out a few top tips on how to save more money and get the most out of your energy deal:
- Get on the best tariff: Check what tariff you are on with your current supplier. If you are on standard rate this is usually their most expensive. Many suppliers will offer a discount tariff rate (usually for the first year). It is possible to find tariffs with discounts of up to 30%, which can help offset price increases
- Cashback deals: Many tariffs also come with additional perks such as cashbacks or free credit for keypad deals. It’s always worth checking out these deals to see if they suit what you need and help keep costs lower.
- Billing and Payment: If you are on a bill pay deal where you pay every month or quarter, how you are billed and how you pay can affect how much you pay. Often the best deals are available to customers who choose Direct Debit and online bills.
- Renegotiate: If you like your current supplier and don’t want to switch you should try to renegotiate for reduced costs. Often a supplier will offer an existing customer a better deal as it can be easier to hold on to a current customer than attract a new one.
- Switch to a better deal: Some people may feel that if most suppliers are increasing prices, what is the point of switching? The key here is that not all suppliers have increased their costs, and that even if they do, all of these suppliers purchase their energy in different ways and are therefore able to offer different deals.
We also have some information on cutting back on energy consumption and maximising your budget on our blog:
- 72 ways to save more money this winter
- 7 energy efficiency DIYs to try
- How to save more energy and money in the kitchen
Switching to a better deal
For those seeking better value often the best option at the moment is to switch.
On average people who switch electricity suppliers using Power to Switch have saved on average £281.
Switching is quick, hassle free and means you keep more money in your pocket – you don’t even have to tell your old supplier you are leaving. Try it today with Power to Switch.