Money
Urgent warning as number of Brits falling for online love scams and losing £4,500 on average soars
THE number falling for online love scams shot up more than a quarter in six months, a survey found.
Hundreds of customers at one bank alone handed over around £3.8million to the con between March and August.
That was a 27 per cent jump from just over £3million reported stolen to Santander between August 2023 and this March.
The average loss was £4,500 and customers aged 18 to 93 were targeted.
The bank’s poll of 2,000 people found half had received unsolicited online flirtatious messages they suspected or confirmed to be a scam.
Nearly a third said they would offer money to a romantic partner they had known for less than six months.
But nearly two-thirds reckon they would never fall for a romance fraud.
Paul Gorton, a contestant on BBC’s The Traitors, said: “In my experience, it’s surprisingly easy to build deep trust, especially when someone is charming and says all the right things.
“As we start to feel a connection, whether it’s real or not, we can end up overlooking red flags and ignore any warnings from others around us.
“Stay vigilant to spot a traitor, it’d be too easy if they simply messaged you out of the blue asking for your money.
“Approach any new relationship with cautious optimism, complete checks and having your wits about you at the start.”
- A FRAUDSTER who conned a woman he met on a dating app has been ordered to pay her back £32,000. Kye Hughes, 35, of Rochester, Kent, last year got three years, four months’ jail for the fraud.
Money
Outdoor clothing chain with over 300 branches launches huge closing down sale as store set to shut
AN OUTDOOR clothing chain with over 300 branches has launched a huge closing-down sale as they prepare to shut one of its stores for good.
The major clothing brand has put up huge signs saying “Everything Must Go” after confirming the branch’s permanent closure.
Trespass revealed that they would be closing their only store in Coventry.
The popular high-street retailer has not yet announced whether jobs will be affected.
The Sun has contacted Trespass for comment.
The Activewear brand employs more than 1500 people in the UK but has shut around half a dozen stores this year.
Trespass confirmed back in July 2023 that six of its UK outlets would shut down soon.
A year later, the branch in Norwich’s Chantry Palace shopping centre would shut, with “closing down” signs appearing in the windows.
The date of the closure was not specified at the time, but local media reported that the shutters came down for the last time on September 13.
Customers took to social media to share their sadness at the end of the store.
One wrote: “The days of high street shopping are over unless you are a coffee shop, restaurant or some large store with a good national reputation.”
However, all is not lost for the shop, as bosses announced it would move to a new location for the brand to maintain a presence in the city.
The new location will be in the Castle Quarter, with an opening date to be confirmed.
As for the now-vacant unit in Chantry Place, general manager Paul McCarthy said: “Trespass is leaving the centre and we are in talks with other retailers about the space.
“Just last week we welcomed Pop Specs to the centre and Ben & Jerry’s will be opening very soon too.”
The new tenant for the site has not yet been confirmed.
What is happening to the high street?
The Trespass news comes amid a wave of store closures across the UK.
Retailers are being squeezed by spiralling rents and mortgage rates as well as spikes in running costs.
That, combined with the rapid march towards online shopping as the dominant model in the sector, is leaving physical stores on the brink.
Retailers opening stores
IT’S not all bad news on the high street as several retailers are bucking the trend and opening shops.
- German discounter Aldi has announced it will open 35 new UK stores this year. The openings form part of Aldi‘s long-term target of operating 1,500 stores in the UK.
- Asda has been opening hundreds of convenience stores as it looks to rival major players Tesco and Sainsbury’s.
- Purepay Retail Limited , the parent company of Bonmarché, Edinburgh Woollen Mill (EWM) and Peacocks, Purepay Retail Limited, has said it wants to open 100 new high street stores over the next 18 months.
- Home Bargains has said it wants to “eventually have between 800 and 1,000 retail outlets open”.
- Primark is also opening new branches and investing and renovating more than a dozen of its existing shops.
- Screwfix is set to open 40 new stores nationwide as its owner, Kingfisher, seeks to expand the DIY brand’s national presence.
- Tesco has revealed plans to open 70 more stores across the UK over the next year as part of major expansion plans.
- WHSmith has turned its focus to the travel side of its business, with plans to open new sites in airports, railway stations and hospitals.
Since the start of last year alone high street favourites like Wilko, Paperchase and Ted Baker have all called in the administrators.
Elsewhere, Boots has announced plans to slash its branch numbers by 300.
But there are still some rays of sunshine in the market, with budget supermarkets Aldi and Lidl eyeing up hundreds of new stores between them.
Retail woes
Other retailers, such as Homebase, Boots, and Clarks, have been reducing the number of their high-street branches.
Rising rents, energy bills, and the cost of living have also caused many retailers to fail.
Several big retailers have fallen into administration in the past year, including Wilko, Paperchase, and most recently, The Body Shop and Ted Baker.
The Body Shop collapsed into administration on February 13, putting its almost 198 branches at risk of closure.
Since then, it has closed down 82 locations.
However, it’s not all bad news for the high street, as several other retailers and hospitality venues have plans to expand.
Beer giant Heineken announced plans to invest £39million to help reopen 62 previously shuttered British pubs.
Aldi has announced that it will open 35 new UK stores.
The openings form part of Aldi‘s long-term target of 1,500 stores in the UK.
The supermarket is set to invest £550million in expanding its UK footprint this year alone.
Aldi said each new store opening will create around 40 new jobs on average.
In recent months, Asda has been opening hundreds of convenience stores as it seeks to rival major players Tesco and Sainsbury’s.
B&M plans to open “not less than” 45 brand new stores across the UK in each of the next two consecutive years.
Purepay Retail Limited, the parent company of Bonmarché, Edinburgh Woollen Mill (EWM), and Peacocks, has said it wants to open 100 new high-street stores over the next 18 months.
It has yet to give the exact locations where it will open the 100 stores or when they will open.
One of the UK’s favourite bakery chains, Greggs, has exclusively revealed to The Sun plans to open more outlet branches by the end of 2025.
Home Bargains, which was running just under 600 branches as of last June, has said it wants to “eventually have between 800 and 1,000 retail outlets open”.
The major discounter has stopped short of saying when it wants to reach the 1,000 store target, however.
Primark is also opening new branches and investing and renovating more than a dozen of its existing shops.
Screwfix is set to open 40 new stores nationwide as its owner, Kingfisher, seeks to expand the DIY brand’s national presence.
The brand opened two new stores in March, and a further three new shops opened last month.
Retailers closing stores in 2024
RETAILERS have been hit by soaring inflation and a downturn in spending due to the cost of living crisis.
High energy costs and a move to shopping online are also taking their toll.
Some high street shops have closed due to businesses opening up in different locations such as larger retail parks.
Shops may also close due to a number of other reasons, such as rising rents.
We explain which retailers are closing in 2024:
- Argos – The brand announced plans to close 100 standalone UK branches last year as it looks to move away from the high street and focus on expanding its presence in supermarkets.
- B&Q – The chain has over 300 shops across the UK, with two stores closing this year due to leases not being renewed. It has plans to open more in 2024 too.
- Boots – The health and beauty chain announced that it would be closing 300 stores last July. Closures are ongoing and this will see the retailer’s estate reduced from 2,200 to 1,900 shops.
- Clintons – Clintons mulled plans to close 38 shops in a bid to avoid insolvency late last year. We’ve listed the stores affected.
- Costa Coffee – The caffeine giant has around 2,000 sites nationwide, so chances are you’ll have one near you. The chain has shut the doors to dozens of its sites recently. We’ve revealed which stores are due to close this year.
- Iceland – The supermarket has more than 900 stores but closed nearly two dozen sites in 2023, and more selected shops are due to shut.
- Lidl – The supermarket, which has 950 stores, is changing up shop locations, which has meant that some stores have to close. But the retailer is also looking to open 12 new supermarkets.
- M&S – M&S, which runs 405 stores across the country, has been closing a string of branches across the country in a blow for shoppers. It’s not all bad news, though, because the chain also has big plans to open dozens of new shops.
- Trespass – The firm announced in July last year that it was closing six branches, but more are on the way.
- WHSmith – The retail giant, which runs over 1,100 stores, has shut eight stores since March 2023, but more are coming.
Money
Shoppers spot Irish cream flavour inspired by classic American treat ready for Christmas
ALDI fans are racing to their nearest branch after a shopper spotted an Irish cream flavour inspired by a classic American treat just in time for Christmas.
The bargain supermarket chain has announced a new winter-themed alcoholic drink, which has shoppers raving on social media.
Aldi’s new limited-edition Ballycastle S’mores Country Cream is now available for purchase in their stores for £7.49.
The new 70cl drink combines rich chocolate and biscuit flavours, with hints of vanilla and fluffy marshmallow.
Aldi added: “This nostalgic tipple is guaranteed to ignite shoppers’ tastebuds – just simply enjoy neat over ice or enjoy as part of an indulgent s’mores-tail.”
Alcohol fans have been raving about the new drink online, with one savvy shopper uploading a photo showcasing the new product to the Shopping Finds & Bargains UK Facebook group.
The post received many likes and comments from fellow Aldi shoppers eager to get their hands on the Ballycastle S’mores Country Cream.
“Oh the new one I might try it,” wrote one user.
Another commented: “Would make a lovely Christmas present some might say?”
“We need this!” said a third.
While a fourth user added: “On the shopping list.”
The major bargain retailer also confirmed that it is set to introduce another new drink specifically for beer fans on November 11.
Aldi’s The Hop Foundry Toasted Marshmallow Stout will reportedly consist of rich malt and hop flavours “with a twist of toasted marshmallow for a slightly sweet but smooth stout”.
The popular supermarket chain said that the new 440ml drink will cost shoppers just £1.79.
Those desperate to try the discount retailers new products should head to their nearest store to purchase the drink.
Aldi had previously announced an egg-cellent new product they launched in time for Easter.
It’s an alcoholic chocolate drink inspired by one of the nation’s favourite treats –Cadbury Creme Eggs.
Limited Edition Ballycastle Chocolate Crème is described as “a deliciously smooth, Irish Cream blend with delicate hints of chocolate and sweet vanilla”.
The brilliant beverage will be available to buy from Aldi stores on March 14 and will set you back just £7.69 for the 70cl bottle.
The supermarket giant is renowned for its festive dupes, which send shoppers wild for the products.
Last year, Aldi introduced a twist on the classic Baileys liqueur.
They added a new flavour said to taste like the classic Cadbury’s Caramel chocolate bar.
The limited edition Blonde Chocolate was sold in stores for just £7.79.
Every 70cl bottle is a blend of rich double cream, caramelised chocolate and Irish Cream.
It even bagged a silver award at this year’s International Spirits Competition.
Dubbed by some as a “boozy Caramilk”, it’s best enjoyed over ice or as a main ingredient in a cocktail.
It comes after sweet-toothed shoppers were ecstatic over a bargain supermarket’s new 99p alcohol range.
And a bargain supermarket chain has confirmed the exact date its discontinued award-winning 87p alcohol range will return to shelves.
Money
I totally ignored £320,000 lottery windfall – it took them rocking up at my door for me to finally believe it
A MAN completely ignored a hefty lottery win amounting to £320,000 and he only believed it when they rolled up to his front door.
Nurse Jonas, of Moreton, in The Wirral, Merseyside, had his “life-changing” win just three months after he signed up for the Postcode Lottery.
Jonas landed the windfall with seven neighbours in Wirral – birthplace of stars including Strictly‘s Shirley Ballas, late TV presenter Paul O’Grady and Hollywood actor Taron Egerton – after CH46 7TU was announced as the winner of the £3.2million Postcode Millions prize.
Every ticket was worth £160,000, but Jonas and another neighbour doubled their winnings as they each played with two tickets.
A further 240 people playing in the wider Wirral postcode sector of CH46 7 received cheques ranging from £5,904 to £29,520, depending on how many tickets they played with.
Jonas told of his shock after the lottery crew turned up at his door – after failing to read email messages that he’d won.
Read More on Postcode Lottery
He said: “My heart is about to come out of my chest. It’s a bit surreal. I didn’t know you were coming. I’m actually speechless. Thank you so much.
“I joined up after getting a letter through the door. They normally go straight in the bin, but it just shows that they do work.”
And he joked: “I got two tickets because I thought that if next door was going to win I might as well have more than them.
“I can’t even say it was one for me and one for the other half. It just didn’t seem that expensive to have two, to be fair. I just thought that if I was going to win I might as well double up.”
Jonas now has his heart set on getting a hive of bees and making his own honey.
He has longed to make his own honey after quitting his London hospital job to return home after 30 years.
Jonas said: “I’ve wanted to keep bees. When I left London, I was like, ‘I’m going up north and going to have a beehive and have my own honey.’”
He added: “I know that sounds really old and sad, but I always just wanted to keep bees. I will now.”
Jonas also said how he’s already in the process of buying a new semi-detached house after moving back home to The Wirral to start work at a local hospital – while husband AJ continues to commute to the capital.
He said: “I was working in London and moved back up here. I’ve just found a house to move into, so everything is heading in the right direction. This is an added bonus.
“The first thing I’m going to do when we move is decorate. This will help a lot.
“I can decorate the house in the way I’d like to rather than decoration I’m compromising on.
“This is going to change quite a lot of things. It will change our lives.”
Jonas revealed he only signed up in June and plays with two tickets.
He said, “I’ve only been playing for about three months since I lived here. I didn’t really expect to win – and certainly not so soon. But it won’t stop me from continuing to play.
“I know people must say it will never happen to them. It wasn’t something I was doing to win, which sounds really stupid, but I’m really glad I did now.
How to play the People’s Postcode Lottery?
For just £12 a month, players can sign up through the official website to have a chance of winning millions of pounds.
Once signed up, players are automatically entered into every draw and prizes are announced every day of each month.
Tickets play for the Daily Prize, worth £1000 and revealed every single day.
Tickets could also win a jackpot of £30,000 for Saturday and Sunday’s Street Prize draws.
People’s Postcode Lottery also offers a £3million Postcode Millions draw each month – where your ticket plays for a share of the cash prize fund.
Winners are notified by email, text, post, or phone call, depending on the prize they win.
Jackpot winners are visited by the lottery team in person.
“I never thought it would happen. It happens to other people. It’s a big country with lots of postcodes.”
He added: “It’s really nice to win with neighbours. Everyone knows everybody else here and it’s nice to share it.”
Jonas said the charity aspect of playing People’s Postcode Lottery was the main driver for him.
He said: “I never win anything, I just thought I would help out local charities. It’s something I could do to give something back.”
Now he dreams of returning to South Africa where he spent a month in his youth and travelling around Europe with his hubby of two years.
He said: “We’ll have a holiday… relax. I’d like to travel round Europe together.
“I went to South Africa as a child and I’ve always wanted to go back. I went to Johannesburg but didn’t get down to the coast at the time. I stayed for a month with friends who lived there, but I ran out of time for the coast.”
And hubby AJ might get the big TV he’s been wanting.
Jonas said: “We don’t have a telly at the moment. Just because it is expensive and way down there on my list. I won’t be able to argue against it now.”
Money
Shoppers are heading to Tesco to stock up on a summer essential for next year that’s reduced from £20 to just £5
SHOPPERS are racing to their nearest Tesco store to snap up a summer essential for next year after its price was slashed from £20 to just £5.
A savvy bargain hunter shared a picture of the supermarket’s discounted product on the Extreme Couponing and Bargains UK Facebook group.
The post revealed that Tesco’s branch in Wath Upon Dearne is selling Status’ 12-inch Desk Fan for just £5.85.
The fan’s price was slashed by a whopping 70 per cent after the major retail chain moved the item to its reduced-to-clear section.
Shoppers can also bag Status’ 31-inch Tower Fan, scanning at Tesco’s tills for just £9.40,
It’s unclear what the original price of the tower fan was, but similar models on the supermarket’s website cost nearly £40.
Alternatively, Tesco shoppers can buy Status’ 16-inch Pedestal Fan for £6.60 after it too was moved to the reduced-to-clear section.
Similar models of the 16-inch fan cost around £25 from the popular supermarket chain, so those opting for Status’ fans will save £18.40.
The savvy shopper’s post in the bargain Facebook group garnered hundreds of likes and comments from fellow shoppers eager to grab the summer essential.
“Hope they have some left,” wrote one user.
Another commented: “Cheers pal just what I need.”
While a third, who tagged their friend, added: “If ur in at lunch have a nosey.”
Despite their eagerness, shoppers should be aware that not all of Tesco’s branches will stock these items in the reduced-to-clear section.
It’s always worth phoning ahead to your local store to check how many they have available.
As always, make sure to have a shop around before you commit to a purchase to make sure you’re always getting the best deal.
To find your nearest store head over to the Tesco website.
It follows a lucky Tesco shopper who managed to nab the “bargain” of their life when they found a pair of kids’ sports shoes priced at just 4p.
The shockingly low price sent social media into a frenzy with many wondering how shoes were so cheap.
The pair of B Sports Shoes normally costs £13 but its price had been reduced by more than 99%.
A post of the staggering deal shared on Facebook amassed countless shocked reactions.
The post stated: “Bargain of [my] life, Tesco kids School trainers for 4p, original price £13.00.”
Users were also quick to comment on the extraordinary offer.
One said: “Well done on your bargain!”
But many also shared insight into why the price was so low.
One sharp commenter claimed: “Item at 4p are old stock and meant to be removed from shelves.”
However, another said: “Shouldn’t have been sold.
“It’s meant to be for charity.”
Tesco often reduces prices to 4p on goods that are considered ‘old stock.’
It comes after Poundland shoppers rush to buy an “amazing” dupe of an iconic designer perfume for just £4.
And a much-loved bargain shop chain is pulling the shutters down on one of its stores in just a few hours.
How to bag a bargain
SUN Savers Editor Lana Clements explains how to find a cut-price item and bag a bargain…
Sign up to loyalty schemes of the brands that you regularly shop with.
Big names regularly offer discounts or special lower prices for members, among other perks.
Sales are when you can pick up a real steal.
Retailers usually have periodic promotions that tie into payday at the end of the month or Bank Holiday weekends, so keep a lookout and shop when these deals are on.
Sign up to mailing lists and you’ll also be first to know of special offers. It can be worth following retailers on social media too.
When buying online, always do a search for money off codes or vouchers that you can use vouchercodes.co.uk and myvouchercodes.co.uk are just two sites that round up promotions by retailer.
Scanner apps are useful to have on your phone. Trolley.co.uk app has a scanner that you can use to compare prices on branded items when out shopping.
Bargain hunters can also use B&M’s scanner in the app to find discounts in-store before staff have marked them out.
And always check if you can get cashback before paying which in effect means you’ll get some of your money back or a discount on the item.
Money
HMV owner on the hunt for more British high street businesses in welcome break from retail doom and gloom
THE owner of HMV has revealed he is on the hunt for more British high street businesses in a welcome break from the doom and gloom in retail.
Doug Putman, who rescued the music store chain from bankruptcy in 2019, told The Sun: “I would love to buy more businesses in the UK.
“I’m not interested in a quick buck and flipping it.
“I love the businesses that I own.”
Mr Putman, 40, took back HMV’s historic store on London’s Oxford Street last November from a tacky candy store.
He also opened shops in Ireland and Belgium as he expanded the music chain to just over 120 shops, with plans for more in the UK.
It can also be revealed that Mr. Putman was in secret talks to save Ted Baker stores.
But he abandoned a deal after the fashion retailer’s US owner Authentic Brands did not want to give up its royalty rights.
The Canadian entrepreneur also attempted a full rescue of Wilko last year and recently closely studied a move for The Body Shop.
He insists he was the only credible bidder with financing and an offer to save 100,000 jobs and 200 stores before it was broken into chunks.
He added: “The economy is tough but it’s tough everywhere.
“Out of the countries I operate in I would want to invest the most in the UK and least in Canada.
“I love the British high street.”
But he is urging the government to focus on ensuring online retailers pay their fair share of tax.
Mr. Putman said: “If you are going to operate in a country, make sales from people in the country, use the country, then you sure as hell should be paying full taxes.”
In a further swipe at Amazon — often seen as the nemesis of music and book stores — he said advances in technology risked creating a “joyless life.”
He said: “Staring at screens and waiting at home to open our packages from Amazon, is that the world we want? Don’t we want to see friends and family, go to music stores, visit book shops?”
Mr. Putman said HMV’s revival was in tune with the renaissance of physical music, despite streaming now accounting for the overwhelming majority of sales.
He said: “CDs are back in growth, because they’re cheap, vinyl is growing, so are books — they are tangible things that counter people’s addictions to their mobile phones.”
HMV’s most recent accounts reveal sales rose by 18 percent to £177 million, while pre-tax profits more than doubled to £5.2 million for the year to May 2023.
Ashley’s Mulberry bid snub
Troubled luxury brand Mulberry has swiftly snubbed an £83 million takeover approach from Mike Ashley.
The Sun yesterday revealed the handbag maker’s board was likely to dismiss the hostile offer from the sportswear billionaire’s Frasers Group.
Mulberry said that the bid “does not recognise the company’s substantial future potential value.”
It added its majority shareholder Challice, which is owned by the Singaporean billionaire Christina Ong, “is supportive of the company’s strategy and has no interest in supporting the possible offer.”
The rejection is likely to irk Mr. Ashley, who has built up a 37 percent stake in Mulberry.
He has until October 28 to come back with another offer.
Mulberry needs to raise £10 million from investors after slumping sales knocked it to a heavy loss.
It said it hoped Frasers Group would take part as an investor in the share offer.
Pumpkin & patchy
Greggs is hoping its new pumpkin spice doughnuts will tempt customers to stores after a slight sales slowdown.
The City has become used to Greggs’ strong trading and was yesterday spooked by a slight softening in like-for-like sales growth of 5 percent.
It compared with the previous quarter’s 7.4 percent.
Shares in Greggs fell by as much as 5.6 percent, despite it being on track to hit profit targets and open 160 more shops this year.
Dob jobs blow
Garden centre Dobbies is planning to shut 17 shops in a move that will cut 465 jobs.
The retailer — founded in 1865 — will close all six of its high street “Little Dobbies” trials, as well as 11 larger stores in locations ranging from Altrincham, Greater Manchester, to Stratford-upon-Avon, Warwickshire.
The garden centre retailer lost £105.2 million in the year to March 2023 compared with a loss of £7 million in 2022.
Hedge fund Ares Management took control of the business last year.
The price of gold has kept rising amid fears of all-out war in the Middle East.
Often considered a safe haven asset, the precious metal has soared 29 percent so far this year.
Yesterday it climbed another 1 percent to £2,004.46 an ounce.
Optimism fades
Manufacturers became much more pessimistic last month amid concerns over Labour’s first budget and conflict in the Middle East.
A closely watched survey showed the sharpest drop in confidence among factory bosses since the beginning of the pandemic in March 2020.
The S&P Global UK Manufacturing Purchasing Managers’ Index slipped to a nine-month low of 51.5 in September.
Rob Dobson, director at S&P Global Market Intelligence, said: “The drop in confidence was striking.”
SHARES
- Barclays down 4.85 at 219.70p
- BP up 9.30 at 401.00p
- Centrica down 0.05 at 116.60p
- HSBC down 4.50 at 664.70p
- Lloyds down 0.60 at 58.20p
- M&S up 4.50 at 377.10p
- NatWest down 3.50 at 340.40p
- Royal Mail up 0.40 at 342.80p
- Sainsbury’s down 1.00 at 294.00p
- Shell up 53.00 at 2,478.00p
- Tesco up 0.80 at 359.90p
Money
Energy bills are rising – but millions could save £155 a year by switching gas and electricity suppliers NOW
ENERGY bills have gone up again just as colder weather hits – but millions could save cash by switching now.
The energy price cap has jumped from £1,568 to £1,717, meaning bills have risen by ten per cent and the average household bill is up by more than £12 a month, or £149 a year.
It’s not as bad as last year, when the price cap soared to £4,279, luckily offset by the Government’s Energy Price Guarantee, which reduced bills.
But there are still ways you can save money on your energy costs . . .
WHAT IS HAPPENING WITH BILLS? More than 27million households saw costs rise this week due to the new price cap.
The price cap does not limit bills. You still pay for each unit of gas and electricity but it does provide an estimate for an average household.
READ MORE ON ENERGY BILLS
The more energy you use, the higher your bills will be.
The price cap changes again in January, when the most recent prediction by experts is that it will fall by one per cent.
This week, energy consultancy Cornwall Insight said it expects the typical household’s energy bill to drop to an annual £1,697 a year from January 1.
But this is still eight per cent more expensive than the best fixed deals being offered by energy firms.
The price cap is reviewed every three months, so January’s cap will be confirmed by November 25.
But you don’t need to wait to save money, as you can act now.
SWITCH NOW TO SAVE MONEY: You can switch to a fixed deal and save money as a handful of suppliers are offering deals that are CHEAPER than the new price cap. They will still save you money if bills go down the predicted one per cent in January.
The current cheapest fix is from Outfox The Market and it costs £162 less than October’s price cap.
That means it is £142 cheaper than the predicted price cap for January. It is fixed for 12 months and if you want to leave before the end of the contract, it would cost £50 for gas and electricity.
Other suppliers such as OVO Energy, British Gas, EDF Energy and Octopus Energy offer tariffs that save you £100 a year.
Fixing is a gamble as you are locked into the tariff until prices end.
Before switching, rem – ember to check exit fees and how long you will be tied in for. Some suppliers may also require you to fit a smart meter to access their best deal.
Always compare prices, and use uswitch.com or moneysavingexpert.com.
You will need your address, current energy supplier, usage and how you pay.
TAKE A METER READING: If you are on a standard variable tariff rather than a fixed deal, and do not have a smart meter, then you need to submit a gas and electricity reading as soon as possible.
It will ensure you do not get inaccurately billed at higher prices.
Check when you need to submit the reading. For example, British Gas customers have until October 14, whereas EDF Energy customers have until October 9.
You should do this even if you are planning to switch.
GET FINANCIAL HELP: Energy firms offer grants to customers who are struggling to pay their bills.
For example, British Gas has grants worth up to £2,000 via its British Gas Energy Trust and Individuals Fund. You do not need to be a British Gas customer to apply.
Other firms, such as EDF, E.ON and Octopus Energy offer grants to customers.
Eligibility rules will vary, so contact your supplier for more information.
REGISTER FOR ASSISTANCE: Thousands of vulnerable households, including those who are elderly or ill, are missing out on perks such as free gas safety checks and support if they are struggling with their bills.
To get access to these, you need to register for the Priority Services Register.
REDUCE USE: Cutting your energy use is the easiest way to save money on bills now.
Before you put your heating on this winter, read Energy Saving Trust’s easy energy saving tips at energysavingtrust.org.uk.
For example, reducing washing cycles and using lower temperatures could cut £24 a year, or installing draught-proofing can save £80 a year.
LOOK FOR ADVICE: Check to see if you could get help with energy bills such as the £300 Winter Fuel Payment or £150 Warm Home Discount.
See citizensadvice.org.uk. Your local council may also offer cash help with energy bills if you are on a low income via the Household Support Scheme. Contact them directly to check.
How do I calculate my energy bill?
BELOW we reveal how you can calculate your own energy bill.
To calculate how much you pay for your energy bill, you must find out your unit rate for gas and electricity and the standing charge for each fuel type.
The unit rate will usually be shown on your bill in p/kWh.The standing charge is a daily charge that is paid 365 days of the year – irrespective of whether or not you use any gas or electricity.
You will then need to note down your own annual energy usage from a previous bill.
Once you have these details, you can work out your gas and electricity costs separately.
Multiply your usage in kWh by the unit rate cost in p/kWh for the corresponding fuel type – this will give you your usage costs.
You’ll then need to multiply each standing charge by 365 and add this figure to the totals for your usage – this will then give you your annual costs.
Divide this figure by 12, and you’ll be able to determine how much you should expect to pay each month from April 1.
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