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‘I made a 20-minute phone call to E.ON Next and now I’m £200 better off’

‘I made a 20-minute phone call to E.ON Next and now I’m £200 better off’

Things have been tough over the last 12 months – especially when it comes to energy bills. At the start of last year, I was paying around £90 a month for energy. We live in a three-bed semi and have two kids, so we are pretty much your average household.

In a process which has now become very familiar with many people who keep a close check on their finances, every three months, the energy regulator announces a new energy price cap. This sets how much we pay for our gas and electricity – and the more you use the more you pay.

When energy bosses say what a typical household will pay annually – which is due to fall to £2,074 in July – our own energy bills have been coming in just under that amount. So when the government introduced the £2,500 energy price guarantee, we were paying just under that amount.

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All households were also entitled to £400 off their bills over the six months from the start of October 2022 to the end March 2023 – so we benefitted from an extra £67 a month off our bills – which were of course higher because it was winter. All in all, by the end of last year and into this year I was still paying nearly double the original £90 a month.

Thankfully, the outlook for energy prices is now a little better. The average annual price comes down by £425 next month – a monthly saving of about £35 – and forecasters say prices should remain relatively stable for the rest of the year.

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With all that in mind, it is prudent to check your energy bill to see if your current monthly direct debit is too high – and also whether you still have any credit on your account, now that summer is here. Generally speaking – and fans of the Martin Lewis Money Saving Expert show on ITV will know this – most households pay a set direct debit amount each month, regardless of how much or little energy you use.

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  • June 15, 2023