UK households are being braced for more financial pain from April when increases to core bills kick in. Energy, water and council tax will all be surging for the typical household, potentially alongside other things like broadband and car insurance.
On average, energy bills are set to rise by £87 a year, water charges £86 and council tax around £100. It means the typical household will have to find an extra £273 to cover these bills as cost of living pressures persist.
The rises will put more strain on household finances up and down the country. Money expert Martin Lewis has told families how they may be able to save some money. This is by fixing their energy bills.
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Martin warned the Energy Price Cap, which determines typical bills, was likely to “rise further” during 2025. That means fixing bills will make sense for millions of people and ensures they won’t lose out later in the year.
The presenter said in the latest Money Saving Expert newsletter: “This is my annual BillBuster email, focusing on cutting the cost of mobile, broadband, water and car insurance. The Price Cap isn’t a total cap on what you pay, it’s a limit on the daily charge and unit cost of energy, so use more, pay more. Most firms charge at the limit, and these limits are high now, meaning the Price Cap is a pants cap, as most can easily compare and switch to a cheaper deal.
“Unsure if you’re on a Price Capped tariff? You likely are, as eight in 10 homes are, everyone other than those already fixed or who’ve actively chosen a special deal. Move to the cheapest fix and within five working days you’ll be paying typically 7% less than what those on Price Capped tariffs pay.
“Plus, the rate is locked in so you get peace of mind that it won’t change, whereas the Price Cap’s predicted to rise further.”