There has been much talk about the cost of energy recently. With the change in the energy price cap in April 2022, alongside other cost-of-living price rises, the country is becoming increasingly concerned with ensuring that all the bills can be paid in our homes.
These rises are likely to hit the student population hard – traditionally one of the groups in society who are often already living on a budget. It is essential, therefore, that both students and the public do what they can to ensure that they are not paying for unnecessarily high gas and electric bills.
How to save on your monthly student utility bills
Before we begin, you should first investigate ways to save money on your monthly student utility bills is essential in 2022. Some ideas include:
- Use price comparison sites to ensure that you are signed up for the cheapest bill rates with the best company for you
- Try to pay by direct debit
- Consider bill splitting to make everyone more accountable for their energy use
- Looking at ways that you can save energy
How much is the average gas and electric bill UK?
Statistics show that in 2021, the average gas and electricity bill was £111.6 per month per household – £47.90 for gas, and £63.70 for electricity. That equates to £1,339 per year, or £334.80 every quarter.
This year, however, prices have risen already, significantly. They are also set to rise even more in October when the price cap goes up yet again. As it stands, the average gas and electric bill in the UK per household is about £164 per month, as we are expecting energy bills to rise by about 54% from 2021 prices.
Are you paying too much for gas and electricity?
Traditionally, the tip that most people have given to ensure that they are paying the least amount necessary for their household energy is to research prices and then switch energy providers. In addition to this, you should also look at how you are paying.
People who receive a bill which then they pay are not necessarily paying the best price for them. Energy companies prefer that you pay automatically by direct debit, potentially saving you up to about 10% on your energy bills.
How much gas and electricity does the UK region pay?
It might seem rather strange to believe, but gas and electricity prices are not the same across the UK. Prices can differ by as much as £80 a year, depending on where your household is based. Currently, the East Midlands are paying the least for their energy (an average of £108.40 per month) and Merseyside and North Wales are paying the most (an average of £115.60). London pays an average of £114.10, and North Scotland, £114.90.