Experts urge customers to seek best savings after Ofgem lowers price cap

ITV News Consumer Editor Chris Choi explains what Ofgem’s latest announcement means for households

The amount millions of people pay for energy will get lower from April, but there are warnings that to get the biggest savings, customers may still need to take action.

Experts fear that because bills are going down automatically in the spring, people won’t bother to look at the possibility of cutting their costs by shopping around.

The energy watchdog, Ofgem, today said there was a 20% rise in energy deal switching last year. On average, people made annual savings of £115.

What’s the best way to take advantage of the lower price cap?

ITV News asked energy experts at Uswitch to gather the most up-to-date research.

We’ve been told about 15 current fixed-rate deals that beat the upcoming April price cap, with an average saving of £63.

Some deals could save more than £140 off the new price cap coming in April.

Thirty-three million customers on price-capped tariffs and 21 million on fixed rate deals should all see an average saving of £117 a year from April.

This is a result of government policy to take the cost of two big environmental schemes off our bills.

Yet experts say you can make “a double saving” by also shopping around, which could take the total reductions to almost £250.