Energy Bills Still Full of Surprises
Despite the headlines that the “energy crisis” has finally flattened out, the reality on people’s wallets stays a bit of a roller‑coaster.
What the Energy Boss Means
Chris O’Shea, CEO of Centrica, told BBC Radio 4’s Today that the big “first act” of the crisis is over ― but the second act is still playing out loud.
- Energy prices had more than doubled before Russia’s move on Ukraine.
- They’re back down to pre‑invasion digs, yet still 2.5 × the long‑run average.
- Supply and demand are still the heavy hitters driving the cost.
He warned against getting a “nice winter” and a “stable market” to make us all feel super relaxed. It’s a bit like complaining that you’re not craving pizza yet – but the pizza was there all along.
Help is Still Hard to Grab
Adam Scorer, chief of National Energy Action, reminded that even though retail prices dipped in July, people aren’t out of the woods yet.
- By tomorrow, two‑thirds of UK households will lose the help that offset the crisis.
- The Ofgem price cap only protects a handful.
What the Energy Guru Says
Emily Seymour, a seasoned energy editor, added her two cents: the new price cap might shave a typical bill by around £500, but it’s still almost double what it was before the crisis began. For some households, that’s still a tall order.
- If you’re about to feel the squeeze, talk to your supplier about a budget‑friendly payment plan.
- Check if you qualify for any government schemes they might have in the pipeline.
Fixed Deals: A Double‑Edged Sword
Suppliers are starting to re‑introduce fixed deals for existing customers. Seymour’s advice?
- Don’t lock up for a rate higher than what you already pay.
- Keep the deal length to no longer than a year unless you’re ready for it.
- Always look at exit fees in case the price cap drops and you want to jump ship.
Bottom line: prices have started to calm, but the bedrock of the crisis is still firmly in place. Keep an eye on your bill, stay in the loop, and remember – you can still pong back to your provider for support or a smarter plan.
