Energy Price Rises

Many of you will be aware that energy prices have increased dramatically due to high global demand.  Standard energy tariffs have increased by as much as 54% and many suppliers have ceased trading.  Ofgem have raised the energy price cap by £693 from April 2022 (excl. Northern Ireland) which will bring the average annual household energy bill to £1971.

There are several pre-existing and new schemes that can help reduce the cost of your energy bill.  These schemes can be combined to get the maximum discount on your energy bills.

New schemes

People whose homes are in Council Tax bands A to D in England will get a £150 council tax rebate in April to help towards energy costs.

All households in the UK will receive £200 off their energy bill in October 2022 but that discount will then have to be paid back by £40 a year over five years from 2023.

Local authorities will receive £150million to make discretionary payments to those most in need.

£565 million will be made available to Scotland, Wales, and Northern Ireland which they can use to cut council tax.

Existing Schemes

Warm Home Discount

Have you checked to see if you are eligible for the Warm Homes Discount scheme?  You could get £150 off your electricity bill for winter 2022 to 2023.  If you are in receipt of a disability/ill health benefit you are likely to qualify.

Click here to check if you can qualify.

Unlike Winter Fuel Payments the Warm Home Discount is not awarded automatically unless you receive the Guarantee Credit element of Pension Credit, so don’t forget to register with your energy supplier! Many energy suppliers only accept applications for a limited period so please check with your supplier when applications open for 2022/2023.

Due to the unprecedented energy rises more schemes and options may become available in the coming months. Accurate and reliable advice can be found here.