Emergency energy crisis update – switching now is not advised for most people.

The energy market is in extreme crisis. Wholesale gas prices (those firms pay) have risen to many times the level of last year. Much of the UK’s electricity is generated by gas too. This means both gas and electricity prices for consumers have rocketed to previously unimaginable levels. For energy switching, the situation is catastrophic. Many energy firms have gone bust, and more are almost certain to follow. There are no decent tariffs left to switch to – in fact, there are few tariffs at all for new customers. Feel free to do a comparison, but expect to see that you will pay more to switch. In some cases, such as if you want a very green tariff or you want to lock into a fix for certainty, you may feel it’s worth it. But if you’re looking to cut bills now, that’s unlikely to happen and you would be better off sticking with a default price-capped tariff.

If you’re struggling to make your next bill payments or to find money to top up your meter, contact your energy supplier as soon as possible. Your supplier must help you come up with a solution and come up with a payment plan that works for you both. There’s extra support available if you’re vulnerable.