Fixed Mar News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Households could save up to £234 a year by switching energy providers as the price cap increases today, new research indicates.  Customers on expensive default tariffs are encouraged to shop around as the Ofgem cap rises from £1,042 to £1,138 for an estimated 11million people. The £96 hike, announced in February, only affects those on prepayment meters or standard variable deals, meaning those who switch to fixed options could save hundreds each year. There are currently 62 fixed deals on the market cheaper than the new energy price cap, according to data from Uswitch. Households have be...

Homeworkers spending far more time indoors could face a bill shock from their usage over the last three months once they submit readings, data suggests.  With more devices plugged in, heating on and consumption up, typical bills could be £113 higher from January to March usage than usual. In the first three months of the year, households typically consume almost 30 per cent of their annual energy making it the most expensive quarter of the year. This, combined with the added cost of spending more time at home and the cold snap from Storm Darcy, could see many households face a shock bill, a...

There’s no denying that potential energy cost savings are small at the moment. But don’t let that put you off switching to a cheaper deal if you’re on an out-of-contract tariff. Last March, customers could have saved more than £300 per year by switching gas and electricity deal. Currently, the biggest saving for an equivalent home is £139. Savings look smaller because the price cap on standard (or out-of-contract) energy deals is around £100 lower than it was a year ago. But deals also aren’t as cheap. However, if your tariff is ending, or you aren’t on a fixed tariff, you should...

Ofgem, the energy regulator, recently announced the default energy price cap will change from its current level of £1,042 to £1,138. The increase of £96 includes an additional £23.69 energy suppliers can charge a year to help them cover for coronavirus-related costs. Separate research from Compare the Market's financial confidence tracker shows annual energy costs would only have to rise by an average of £85 in order to tip households with children at home into financial difficulty. Peter Earl, head of energy at Compare the Market, said: 'Households that do not switch when their fixed ta...