For the last few months, energy prices have been rising. It is clear that we are in an energy crisis. There has been a surge in demand when it comes to energy, but at a cost.
UK citizens are worried that they may not be able to pay for this rise in energy bills. That’s why it’s important to know why this energy price rise has happened in the first place.
Here is what you need to know when it comes to UK energy prices in 2022, and how they may change.
Why have energy prices started to rise?
Honestly, the answer is quite simple – it is largely due to supply and demand. The later months of 2021 and the early months of 2022 were very cold. Due to this, more people in the Northern Hemisphere have been using their heating and boilers far more.
Even before then, though, we had the COVID-19 restrictions, which led to many people spending a lot more time in their homes than had previously been the case. They needed to keep warm and maintain their houses. As a result, it was more likely that they would use a higher amount of energy. The more demand there is for a product, the more likely it is that it will incur greater costs.
What else could create more costs for energy?
If you are using a lot of energy, this is naturally going to make your prices rise. And if your boiler is an older one, this could also make it likelier that you use more energy, thereby pushing up your bills.
You may therefore need to consider the services of a company that specialises in high-quality boiler installation in Billericay, Rayleigh & Grays, if you have an inefficient or increasingly unreliable boiler. Indeed, it could be a very good idea to have the boiler replaced as quickly as possible now, in readiness for the colder months of the year.
With a new boiler, you will find it easier to conserve energy, especially if it comes with timed settings allowing you to choose when you want to turn on and off your heating and gas.
Will energy prices remain high over the upcoming year?
Unfortunately, the last few months have been quite bad for energy prices. That’s why it has been declared that there is an energy crisis. In February, a big rise in the energy price cap was announced for April – and there looks likely to be yet another one for October.
If you are currently on a fixed-price tariff, it’s recommended that you stay with it. This is due to the fact that it is likely going to be far cheaper. However, should your fixed-price deal be coming to an end, try and use a rolling tariff to save money rather than switching to a new deal. That way, you can help keep your prices as low as possible.
How else can I save money on my energy?
Honestly, the best way to save money on your energy is to use it as little as possible. Try to keep your heating on only at certain times and utilise warm clothing, hot water bottles and blankets. That way you can help keep your energy costs low.