The UK is currently facing a cost of living crisis as the price of energy bills is set to increase tomorrow.
Ofgem has confirmed the price cap will rise by 54% on April 1. This means the average bill will soar by £693 due to the surging price of wholesale gas.
Consumer champion Martin Lewis has branded the increase as "sickening" and said he is "virtually out of tools" for how to help energy customers with the hikes. The Money Saving Expert has advised customers to stick with their current tariff on the April price cap rather than fix into a deal.
READ MORE: Martin Lewis urges UK households to do three things by tomorrow as energy cap rises
He said: "It is not worth fixing. You're better off to stay on the April price cap and then if nothing changes before that, go on to the new October price cap. Again, this is my best guess, I do not have certainty or surety here - it is a bit of crystal ball gazing."
Ofgem introduced the price cap in 2019 to prevent households on different or default tariffs from being ripped off. The regulator is in talks about changing the energy price cap every three months in order to help suppliers with the drastic changes to the energy market - as Chronicle Live reports.
We have rounded up the latest tariffs from some UK energy companies below.
British Gas
Their energy tariffs for gas and electricity can be found according to your postcode here. As energy tariff rates rise in line with the price cap from April 1, 2022, tariffs remain in flux and unpredictable.
British Gas offers a fixed price tariff for contracts over 10 months as well as green tariffs - which match 100% of the electricity and 10% of the gas with renewable charges while offering fixed prices for over 10 months.
It also offers an energy plus home service option with fixed prices for over 12 months, and an electric vehicle (EV) tariff with fixed prices over 12 months that comes with an installation of an electricity smart meter. Following the energy price cap, rates can expect to look like this:
* Direct debit will cost £1,971 per year
* The prepayment meter will cost £2,017 per year
EDF Energy
They provide a pros and cons list between fixed rate, dual energy, and variable tariffs on their website to help customers choose the best tariffs for them. Rates for EDF Energy will rise to be similar to British Gas:
* Direct Debit: £1,971
* Prepayment meter: £2,017
E.ON
They offer fixed and variable tariffs to suit each customer. These can be viewed and compared by entering your postcode on their website here and scouring through the list of plans on offer.
E.ON and their renewable energy supplier E.ON Next will rise costs after the price cap to:
* Direct Debit: £1,971
* Prepayment meter: £2,017
Octopus
They are offering a new flexible tariff for customers from April 2, 2022, due to the rise in the energy price cap. This tariff is £50 below the price cap for loyal customers with £5m put into the Octopus Assist fund to aid customers that need it the most.
After the energy price cap, rates will appear in the lower regions in comparison to the other energy providers:
* Direct Debit: £1,921 (if you are on the standard tariff before April 2) and £1,969 (if you come off a fix from April 2)
* Prepayment meter: £1,967 (if you were on the standard tariff before March 3) and £2,015 (joining on prepay after March 3)
Other support offered by energy companies
British Gas are offering advice and support to their customers who are struggling with rising bills, over at the British Gas Energy Trust. This includes energy debt support across England, Scotland and Wales to any person from any energy suppliers, not solely British Gas customers.
The independent charitable trust runs a debt programme that awards grants to households most in need of monetary support. You can also find out what benefits you are entitled to by checking the Bounce Back checklist that details the benefits and schemes that will help you maximise your income.
E.ON and E.ON Next offer their customers 100% renewable electricity which is a way to make the most out of smaller amounts of energy, however, their prices have still gone up.
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