How to Beat Rising Energy Prices when Moving Home in 2022

What to Do with Your Energy When Moving Home 2022

What to Do With Energy When Moving Home 2022

Will 2022 be your year to move? Whether you’re just starting your property search, or have been looking for a while, it’s important that you understand how moving house in 2022 could affect your energy bills.

With UK energy prices having exploded in 2021, our gas and electricity bills are only set to keep on rising in 2022. So, how can you minimise the impact of rising energy costs when moving home this year?

Energy prices are going up steeply, and there is little prospect of their coming down any time soon. This means that any 2022 home-movers will not only need to deal with all the usual stress of moving house, but the added consideration of increasing energy bills.

In this article, we’ll take a look at why energy prices are rising, how the government is responding and what you can do to minimise the pain those higher bills will bring when you move home.

UK Energy Price Forecast 2022

So, are energy prices still rising?

It certainly looks like it. Households across the UK have been warned that energy bills could continue to rise in 2022.

In fact, according to industry regulator Ofgem, gas and electricity bills could rise by a further 56% in 2022.

So, with UK energy price forecasts for 2022 looking less than promising, what can you do to avoid this price hike when moving into a new home?

How to Avoid the Energy Price Hike When Moving House in 2022?

Is there anything you can do to avoid the 2022 energy price hike when moving home?

While you can’t avoid rising energy prices completely when moving house in 2022, there are a few things you can consider to reduce their impact.

What Type of Energy Tariff Should I Choose?

So, if you’re planning on moving house in 2022, should you opt for a fixed tariff or a standard variable tariff (STV)?

There have been dozens of home-movers complaining that they have only been offered costly fixed deals rather than STVs when they moved home.

If you currently have a fixed price energy tariff, it means you have agreed to pay a set price for a single energy unit. That price will be locked in for the duration of your contract. This means that the more units of energy you use, the higher your bills will be. However, given that energy prices have skyrocketed in recent months, fixed tariffs currently cost £100s more than standard variable rates.

If a supplier has a standard tariff and you’re moving home, you don’t have to fix. When you move home in 2022, whether rented, purchased outright or bought with a mortgage, you either have to transfer your old energy supply to your new address or switch and set up an account with a new supplier.

If you’re being pushed into taking a fixed deal with an energy supplier, you DO NOT have to accept it. Instead, you should ask to be placed onto the energy firm’s SVT if it offers one.

So, by fixing your energy prices now, you could end up saving a lot more money on your bills when you move house. Having an agreed set price that can’t be altered by global distribution is simply the smart thing to do.

Should I Switch Energy Supplier When Moving House in 2022?

Simply put, no.

The usual advice when looking to reduce energy bill costs – shop around and see if you can find anything cheaper. Ofgem itself encourages people to compare different energy suppliers because there’s always tariffs priced below the price cap.

However, this is no longer the case in 2022. Such has been the increase in wholesale energy prices that deals operating at the level of the cap (which used to be the most expensive on the market) are now the cheapest.

Therefore, there is simply no alternative for a lower price, meaning that the best option when moving house in 2022 is to stay put. In fact, most comparison sites have effectively stopped offering an energy switching service for this reason.

How Can I Reduce My Energy Bill When Moving Home in 2022?

With energy prices rising higher and higher, it’s more important than ever to use less of it. So, what can you do to save energy in your new home?

– Better insulation
– Turn off devices
– Energy-efficient appliances
– Get a new boiler
– Replace light bulbs
– Draught-proof your home
– Reduce hot water use

Take a look at our complete guide to how to save energy at home for more ideas.

However, even with these energy-saving tips, rising energy prices will be ruinous for many. So, what can be done?

What’s the Government Doing to Help?

There’s only so much households themselves can do to beat the 2022 energy price hike. The rest is down to the government. So, what will they do about it?

There are a number of options for the government that would help house-movers in 2022 with their energy bills. These include:

O Remove VAT on energy bills – this would benefit customers at the expense of the Exchequer. It would make a huge dent in energy bills – the VAT rate on domestic energy bills is 5% so it would knock £100 off a £2,000 bill.
O Remove ‘green’ levies from bills – the government requires energy companies to fund environmental initiatives, but these costs are passed onto customers. Removing these levies could trim another £100 off usual household costs.
O Target financial assistance to consumers – the government could provide low-income households with funds to pay their bills or set a ‘social tariff’ that is set at an affordable level and only available to those who meet eligibility criteria.
O Subsidise energy providers so they charge less – the government could create a fund for energy suppliers to draw upon to keep themselves solvent without hiking up prices.
O Invest to make the UK self-sufficient in energy provision – if UK energy providers were less reliant on international markets, their customers would be less vulnerable to price fluctuations. But, this requires huge investment in renewable energy, and so is clearly a long-term solution.

As of yet, the government hasn’t taken any steps to take the pressure off home-movers in 2022. So, for now, if you’re moving house soon, you should consider your options when it comes to your energy supply:

– Don’t try to switch suppliers to get a better deal at your new house as the price cap means you won’t be able to find a cheaper price for your energy elsewhere
– If you’re on a fixed rate tariff, try to transfer onto your provider’s standard variable rate tariff instead as these are currently much cheaper.

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