Heat or Eat - The rising cost of energy bills

The cost of our energy bills are going up at a rapid pace. The average increase as of October 1st is £139 with a further increase between £178-£298 expected in April next year (source: Guardian) These significant increases in consumer cost are led by the global gas crisis, that continues to drive the market price of gas upwards. Many smaller utility companies have gone bust creating further uncertainty for their customers, who will have been moved to a new supplier amidst the chaos.

Person adjusting the thermostat

We meet with Linda Hopkins an Authorised UW Partner aka "The Utility Bill Shrinker" to hear her take on the situation unfolding. She meets with consumers to review their utility bills and often recommends a better and cheaper alternative. We asked her a couple of questions.

People you speak with, what do they think of the energy price increases?

People are in shock and some even in disbelief over the price increases they are presented with. More often than not people are worried about affordability.

They find it incredibly stressful dealing with the unknown, especially the consumers moved to a new provider without choice and onto more expensive tariffs. A lot of people may get by now but fear the further price increases come spring 2022.

What's their main concern?

Affordability is by far number 1 concern. Most alarmingly, I often hear the phrase “heat or eat”. They are also considering where they can reduce costs elsewhere to find the extra money for their rising utility bills.

What’s your advice for customers struggling with increasing bills?