Despite a price cap lowering, energy costs are expected to remain high


Unfortunately, energy bills are still likely to remain high despite the recent cut in the government’s price cap. The reason is because the price cap only sets a maximum price that energy companies can charge, and not a minimum. Therefore, some energy companies can still charge very high rates, despite the cap. This means that customers will still be paying higher than necessary rates.

One way to try and bring bills down is to shop around for a better deal. Many energy suppliers now offer discounts and tailored deals to more customers. Additionally, some energy providers now offer people the chance to fixed-term contracts for their energy bills, which can help people budget and potentially get cheaper energy bills.

In addition to shopping around, there are other ways in which households can cut energy bills such as making sure their home is properly insulated, or switching to more energy efficient appliances. Furthermore, some energy suppliers offer customers the chance to switch to green energy plans, which can bring down costs.