As household energy bills continue to soar, Martin Lewis has offered yet more useful advice that could help you save on your outgoings.
The Money Saving Expert has urged bill payers to look into fixed tariff rates, as they could prove useful for saving a few pennies when the price cap increases again in October. At the moment, the average annual energy bill is around £164 a month. But, from October, this is expected to rise to £355 a month - a staggering £3,582 a year - and it will only continue to rise.
As the price cap is now due to be renewed every three months, instead of the current six, it is likely that bills will once again go up in January. So, for those paying for a gas and electricity bill, switching to a fixed tariff could shield you from additional costs.
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A fix rate tariff is a contracted rate where you pay per unit of energy. It will be set for an agreed period of time and this is often around 18 months. However, energy regulator Ofgem can increase the limit that a supplier can charge for each unit of energy this October, which means that switching to a fixed tariff now could save you in the long term, the Manchester Evening News reports.
Octopus Energy is one company that is offering a fixed rate tariff, with its cheapest fixed rate estimated from a Yorkshire postcode. On the 12 month tariff, the daily unit rate is 77.6 p/kWh and the nightly unit rate is 53.95 p/kWh. It also has a standing charge of 43.72 per day.
This is the company's cheapest tariff, though prices will vary from area-to-area. An Octopus Energy spokesperson said: "If a customer is looking for security and prefers to know how much they will pay for energy each month for the next year, they may want to fix their prices.
"If a customer prefers to wait to see if energy prices come down again over the next months, they could stay or move onto our SVT, and for example fix it at a later date."
The current price cap means that an average home - on a standard variable tariff - is charged no more than £1,971 for gas and electricity. Octopus Energy's standard variable tariff is currently capped £50 cheaper than the price cap at £1,921, although there is potential this will increase.
And Octopus Energy have also done their bit recently to help those who cannot afford to pay their bill, introducing the financial hardship fund of £6m. The money is so households that are struggling to keep up with costs and is open to all customers who need a helping hand.
The scheme, called Octo Assist, can be accessed via their online tool. And the company have also put in place energy-saving measures, such as its 'Winter Workout', which helps households reduce gas consumption by around 12 percent.
This is done via the installation of thermal imaging cameras, to identify draughts, alongside its electric blanket scheme, which is helping more than 7,000 customers who are struggling to heat their homes.
A spokesperson said: "We talk to 40,000 customers a day, and we know how hard it is right now for many people. We are in frequent dialogue with the government and our regulator Ofgem on how best to address this and are doing all we can to help customers ourselves in the meantime.
"We can offer a number of support options based on circ*mstances and need, including access to existing schemes, monetary credits from the fund, or personalised account support. We also offer a number of ways to help customers save money in a practical way, including making homes and heating more energy efficient."
How to get more money off your energy bills
If you are not with Octopus Energy - or you are, but would like to save more money - there are ways that you can get some money off your bills. Deals website, TopCashback, gives customers money back for purchasing offers through them.
And it is currently offering £37.80 for those customers who choose a duel fuel switch, and £11.55 for those who opt for a single fuel switch on Uswitch.
A duel fuel tariff is when both your gas and electricity come from the same energy provider, while a single fuel tariff is when you buy a single utility from a provider. The TopCashback deal allows shoppers to save money when changing their tariff with Uswitch - Energy Comparison.
Like other price comparison websites, the Uswitch gas and electricity energy saving service will compare energy prices and help you work out the best tariff for you. The data Uswitch uses to compare prices comes straight from the suppliers, who are continually monitored to ensure accuracy.
Confused.com is also offering £24 back to those who use the TopCashback deal. The TopCashback deal allows shoppers to save money when changing their tariff with Confused.com.
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