Energy Bills: Why Aren’t Consumer Prices Dropping

05/05/2016 /
Electric Radiator Solutions Team

Cheap energy bills seem like a thing of the past yet according to the latest news energy prices are dropping leaving us as consumers wondering why our bills aren’t becoming cheaper. Our article explains everything you need to know about the recent change including how to take matters into your own hands in order to get the best deal from your energy supplier.

According to market data firm ICIS, in early 2016 energy prices were recorded to be at a nine year low yet the average household energy bill has remained at a steady rate over the past few years.

So Why Aren't Consumers Seeing A Fall In Their Energy Bills?

As Ofgem suggests the wholesale energy price is just part of the cost energy suppliers have to contend with, there are also costs involved in the delivery of the energy, VAT and even maintenance.

Another reason consumers may not see an immediate effect in reduced energy bills is due to the fact that suppliers often buy energy months or even years in advance meaning they are able to keep prices fairly constant for the consumer. If however the market price does continue to decrease over a prolonged period, suppliers have more leeway to pass on savings to their customers.

How Can I Help To Reduce My Energy Bills?

We as consumers can do a few things in order to help make sure we are paying the lowest possible price for our energy:

1. Shop around for your energy

Use a price comparison tool to find the cheapest energy prices. Make sure you choose the right tariff and find out the price per unit of your energy. We recommend treating your energy bill much like you car or home insurance and shop around each year to ensure you are on the best deal - take a look at our top tips to choosing the right energy company

2. Ensure your heating system is energy efficient

Energy bills are always at their highest during the winter months due to the need for home heating. We recommend reviewing your heating system to ensure it is not only energy efficient but also built with the latest technology to adapt to modern life. If you would like to take a look at how our electric radiators can save you money you can do so here.

3. Follow our energy saving tips

We have compiled a handy guide in order to help you save as much energy as possible in your home including some top tips for insulation and hot water!

With no guarantees of falling energy prices we recommend that you ensure you have the best heating system installed in your home ready for those winter months. If you are thinking about upgrading your system or would like to know how the latest technology in electric home heating could benefit you why not contact our expert team. We are dedicated to supplying the most efficient electric radiators which is why you won’t find our state of the art technology anywhere else.