Worried about rising energy bills & suppliers going bust?
The news can be a bit overwhelming right now, headlines about gas shortages, price increases and energy suppliers going out of business are confusing. We want to explain a bit about what’s happening and let you know what help is available for you.
What help is there?
- Please speak to your supplier. There are several ways that they are now required to help since COVID-19 started. Visit our ‘Extra support from suppliers’ page for further information.
- If you think your supplier is about to go bust, visit the UK Government’s guidance on this webpage.
- Check to see if you are eligible for the Warm Homes Discount. Find out what that means here.
- Going round in circles and nothing has changed? Please contact any front line support organisation, and they should be able to help. This really useful ‘Worrying About Money’ leaflet shows all of the different support available to Plymouth residents.
Why are energy bills going up so much?
There is no short answer; it’s a complex issue. Wholesale gas prices have gone up by a record 250% since the beginning of the year, including a 70% rise since August. There seems to be four main factors; some recent limits to gas supplies from Russia; an upturn in global gas demand as economies reopen after Covid-19 lockdowns; a cold winter last year which prompted higher gas demand and reduced the amount we have in storage; and lower wind speeds this autumn which mean more energy has been generated with gas rather than wind.
Why PEC's work is so important
Everything that we do, from upgrading existing and new-build homes to be less reliant on imported gas and more affordable to live in, to generating more local renewable energy, to supporting households to understand how to manage energy use and access available financial help, all contributes to making our community more resilient to crisis situations like this.
Looking more broadly, the way we produce and use energy is unsustainable. Moving away from fossil fuels, like gas, is one of the biggest challenges facing the UK but by no means impossible. Saving energy at home is an important step people can make across the country, but we also need urgent support from government to help everyone move to zero-carbon energy in a fair and supported way.