Switch of energy supplier may be only way to deal with rising costs

Between 1 July 2019 and 31 December 2019, at least 10% of people who switched energy supplier for both gas & electricity with Uswitch saved £479 or more.

With the cost of energy once more rising at a level higher than inflation, homeowners may find a switch of energy supplier is the only way they can tackle increasing payouts.

The latest figures from the Organisation for Economic Co-operation and Development show the average price of fuel surged by 4.8 per cent in August compared with the same time a year earlier, although this was down on the 6.2 per cent hike in July.

Such statistics are significantly higher than overall inflation, which was recorded as being 1.6 per cent for the eighth month of the year.

Indeed, if food and energy prices were taken out, inflation would have stood at 1.2 per cent.

One way to combat the ever-growing price of home energy may be to complete a switch of energy supplier, which could offer access to cheaper rates.

Older people in particular may be interested in such a plan, with Rosie Staal, author of Earning Money After You've Retired, recently noting elderly citizens are increasingly feeling ripped off in the UK.

Posted by Richard Eden

Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.