Rising energy costs: what you can do

If you’re worried about the increase in energy prices or your energy company collapsing, we’re here to help. Take a look at some tips below to see what help you could get around gas and electricity prices in the UK. Plus, learn about ways to manage your finances and other organisations that may be able to help.

Tip 1 – Worried about energy prices increasing?

The thought of bills going up is stressful, but there is help out there. MoneyHelper, an independent site, can provide information on Council Tax rebates and other schemes that you might be able to use, where you live.  

If you qualify for food bank vouchers, please ask your local centre about fuel bank vouchers that may be able to ease the pressure on your finances.


 

Tip 2  Ways we can help

You could think about getting ahead of your bills by staying on top of your spend. We’ve got lots of useful information such as ways to cut spending which includes tips on how to reduce energy bills, as well as our budget planning page which might help you think about what you spend your money on, and where you could save.

Alternatively, you may want to talk to another organisation which offers free, independent advice. You’ll find out more about them and how to contact them on our independent help and support page.

Tip 3  Energy companies collapsing

If you think your energy company may collapse, as a number have already done, you might be thinking about cancelling the Direct Debit to them. However, the energy regulator Ofgem has a ‘safety net’ which means that they’ll switch you over to a new provider who will be in touch. Please see Ofgem's website for further up-to-date guidance on this and the energy price cap.

Leaving your Direct Debit in place will mean that you won’t fall behind with any payments and your Direct Debit will switch to your new provider.

Tip 4  Overdue payments

If you’ve missed a payment on your mortgage, loan or credit card or you’ve exceeded your overdraft we’re here to help. Go to our pay or manage an overdue amount page and we’ll be able to get you the help you need. 

If you’ve already agreed an arrangement with us but you’re worried it’s now unaffordable, we’ll need you to update your budget planner and get in touch. Go to the pay or manage an overdue amount page and choose the budget planning option, we’ll send you the link to your planner to update it then let you know how to get in touch.

Tip 5  Money worries

If you’re concerned about your finances in general, visit our money worries page for ways to get in contact with us.

 

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