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Energy prices look to be on the rise again as nPower have recently announced an increase of around 15% on their charges for gas and electricity. It is widely expected that other energy companies will follow suit.

So what should you be doing to save money on your fuel bills? Is it worth switching to another company?

Many observers suggest that if you’re an nPower customer you wait before deciding to switch energy providers. nPower have shown their cards first, but the other providers are expected to follow suit and increase their charges. When this happens then is the time to consider looking for alternative supplier!

If you’ve never switched energy supplier then you’re in a good position. By changing provider you can often get much cheaper bills - from the various TV interviews we’ve seen, a loyal energy customer often pays more than a new one (which is shocking). If you’ve already switched then you may save money, but it may not be that great a saving.

If you are switching consider a capped tariff. This means your energy costs are fixed for one or two years (and then you switch again after that!). Loyal customers tend to be on a standard tariff (more expensive). A capped tariff means that you’re not exposed to the massive price hikes imposed when the wholesale energy costs increase.

Another way to save money on your bills is to consider, if you’re not using it already, Direct Debit. This can save you quite a bit of cash off your bill too. Optting to use paperless billing and managing your account online can sometimes also save you a few pounds too.

Latest Offers & Promotions

E.ON: Formally known as Powergen, E.ON claim they will be cheaper than British Gas until 1st May 2009. Energy prices are also protected until 1st October 2009 if you consider switching. If you’re already an E.ON customer consider switching to their online bill management system to save money.

Scottish Power: Switch to Diret Debit and you could save up to £122 a year. Manage your accounts online and save up to £15 too. Their PriceFall Energy plan means you know that your prices won’t rise before November 2008.

British Gas: Offers a Market Tracker tariff - get your prices reviewed every quarter to reflect changes in the wholesale market more closely than the traditional energy products.

nPower: Are offering fixed energy prices until 2011. Switch to paperless billing (if you’re already a customer) for the chance of winning a year’s free energy!

All the above will offer you a free quote before you switch supplier. However you can save time by using a comparison service like uSwitch or Energy Helpline. Simply enter your details and these services will compare energy suppliers and give you the best possible deals.

Your Views…

How do you feel about the latest energy price hikes? Do you think the energy suppliers are profiteering? Do you regularly switch supplier? What are your tips for cheaper bills? Why not leave a comment and let us and other Hot UK Offers visitors know!