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Oh, good. We’re in the midst of a heatwave, blasting fans (unless you’re a superhuman) and now, the energy price cap is set to go up in July. Just what we need!
In case you missed it, Ofgem is increasing the energy price cap from July, which means that energy bills could increase by up to £220 a year on average in the UK.
If you’re one of the 60% of households on a variable tariff, you’re more vulnerable to a steeper increase.
But honestly, finding a cheaper fixed-term tariff is time consuming, let’s be honest. To save you time (and money), Nous has created a money-saving tool that tracks your energy spending.
Nous identifies when you’re overspending, and switches you to a better deal automatically so you never have to go through the admin of finding a better deal again.
By taking your money into its hands, Nous reminds us that loyalty could cost up to £250 a year – and it’s not like those energy companies need your loyalty, anyway.
“Loyalty is costing households hundreds of pounds a year,” says Greg Marsh, CEO of Nous. “If you’re not regularly switching, there’s a high chance you’re overpaying without realising it.
“The system relies on people not having the time or headspace to stay on top of their bills. Prices creep up, contracts end, and before you know it, you’re paying far more than you should.”
“A typical household could save roughly £250 a year on energy alone compared to the new July price cap by switching with Nous.”
And, of course, it’s easy to use, too. All you have to do is enter your address, and Nous will identify how much money you could be saving. Apparently I could save up to £1,000, eek! BRB, I have some work to do...
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