April 1st is only just around the corner, and for many people it is going to result in a vast increase in their electricity bills. The energy price cap is going to increase by no less than 54%, which means that those on default tariffs paying by direct debit will see an increase of £693 from £1,277 to £1,971 per year. Prepayment customers will see an increase of £708 from £1,309 to £2,017.
Furthermore, what many people haven’t taken into account is that the prices are going to be lifted again in October.The Chief Executive of Ofgem, Jonathan Brearley, said “The energy market has faced a huge challenge due to the unprecedented increase in global gas prices, a once in a 30-year event, and Ofgem’s role as energy regulator is to ensure that, under the price cap, energy companies can only charge a fair price based on the true cost of supplying electricity and gas”.
However, for many people, a price increase of 54% is not going to seem a “fair” price. No wonder April 1st is called “April Fools’ Day”.
Why Not Buy Your Own Generator?
So, what can you possibly do about it? One thing might be to consider purchasing a generator of your own, as it may be that you can produce a fair amount of the energy you need for electricity with one of those in your own backyard. It is certainly worth looking into.
Many people already have a standby generator for their homes and businesses because power outages do happen, and they have been occurring more frequently with the recent storms that have blown in. If you have a standby generator, you can team it with an automatic transfer switch which will mean that when the power goes down it will only affect you for a matter of seconds. This is because the switch will detect the power outage, fire up the generator, and then the lights will come straight back on.
Not only that, but you can buy used generators today. It operates just like the second-hand car market. When you buy a new car, you trade in your old one and the dealer then sells it on. The same thing works with used generators, so you can buy a second-hand one for a lot less than a new one. So, you can save money on the generator and also save money on your electricity bills in a lot of instances.
