HOW TO... save money on energy bills

The current energy price cap, which limits how much suppliers can charge for poor-value tariffs, will run out at the end of 2021 so now is the perfect time to look at how much you’re currently paying and whether you can get a better deal.

• If your current tariff for electricity and gas is coming to an end, look for better deals that will protect you against future energy price increases. Standard variable rates will fluctuate so it’s always better to select a fixed tariff, even better if it lasts for one or two years. Choose a deal with no exit fee or penalty for leaving early. You can always look for better deals mid contract too.

• Smart meters can help you save on energy bills, as you’ll be aware of how much you’re using and will probably adjust your behaviour and lifestyle to keep costs down. Most suppliers are rolling out free smart meter installations, so ask yours for details.

• You don’t have to have a smart meter if you’d prefer not to; and you can keep on top of costs by always giving a meter reading when asked, to avoid estimated bills. Paying by direct debit can also save money.

• There’s no such thing as customer loyalty with energy companies, so if you think you’re paying too much or could save with another supplier, it may be time to switch.

• The longer you fix your energy, the higher the rate so aim for 12 months with no exit fees to get the best deal.