Energy bills could soar by as much as 51% in April 2022, with homeowners being urged to act now to see what help could be available to them.
The current energy price cap is due to be lifted in April, meaning energy bills could increase by £700 – or even more. The energy price cap, which limits the amount households have to pay for default energy tariffs, currently stands at £1,277. Experts warn annual energy bills could hit £2,000 due to a spike in global gas prices. It is predicted the move could leave more than six million Brits living in fuel poverty, with the lowest income families being hardest hit by the spikes.
Consumers are being urged to act now to see what help, such as energy boiler grants, could be available to them.
Experts are warning people to arm themselves with as much knowledge of the price hike as they can and to make sure they fully understand their own energy tariff, its rates and its end date. Households should check their existing price fix tariff and investigate if cheaper cap prices are available.
However, finance experts have warned that staying put could actually be the best option- as a switch may only turn out to be worth it if it is no more than 40% costlier than their current price capped tariff. Being fully aware of your own tariff and its dates will help you to budget prior to the expected price hike. Use a price comparison website to see how your deal compares to others available.
The impending price rise also makes this an ideal time for householders to find out if they are entitled to any other grants such as energy boiler grants which could help save money in the long term.
Next Energy works with the Government’s Energy Company Obligation (ECO) scheme, which gives eligible homeowners a free boiler grant. This can be used to replace boilers which are old and inefficient. Ridding your home of an inefficient boiler and replacing it with a new one will ensure energy is not being wasted, making savings on bills and future repair costs. Simply use Next Energy’s postcode checker to see if you could qualify.
These grants are available all across the country and some of the biggest cities including Liverpool and Newcastle. Please explore our site to see if you are eligible for free boiler grants in the North West or free boiler grants in the North East. To be considered for free boiler grants in the North West, North East, the Midlands or the South, people must own their own home and have a boiler over six years old, in addition to certain financial criteria.
Applying for free boiler grants in the North West and elsewhere across the country, involves a short online application and a free survey prior to installation. Also check your entitlement to other benefits such as the Winter Fuel Payment and the Warm Home Discount Scheme, as well as cavity wall and loft insulation.
The Government has not yet ruled out extra help for those who will be worst hit by the price hike in April. But homeowners need to act now to avoid a nasty surprise this spring.
