Electricity Prices To Rise In April - Time To Check Switching

5th February 2021

MoneySavingExpert.com founder Martin Lewis has urged households on standard tariffs to compare prices now. His warning comes as it's been revealed this morning that energy bills will rise by a typical £96/year for 11 million households in April. But most can save £200+/yr by switching.

The hike is down to energy regulator Ofgem raising the price cap on standard and default tariffs from £1,042/yr for a typical user, to £1,138/yr. These tariffs are typically the most expensive ones - and if you've not switched in the last year, it's likely you're on one (do a Cheap Energy Club comparison to see how much you could save by switching).

For the average household, the hike means bills are set to rise by £96/yr from Thursday 1 April - with many suppliers likely to price their standard and default tariffs within just a few pounds of the new level.

However, as Martin explained on ITV's The Martin Lewis Money Show last night (4 February) ahead of today's announcement, the new cap level isn't the maximum anyone will pay. The price cap sets a limit on the rates you pay for each unit of gas and electricity, so if you use more, you'll pay more.

Check it out HERE