New Ofgem proposals could help every household save £12 pounds on their electricity bills

Ofgem has just set out its proposed price control settlements for five of the six companies that run Britain’s local electricity network that could lead to savings of £12 a year on average for every consumer.

The new set of rules would see the network companies spend £17 billion to upgrade and maintain Britain’s local electricity network. At the same time, this part of the energy bill – which accounts for 8% of an annual dual fuel bill – will be on average £12 a year lower than it is today for the eight-year period of the control.

In addition to requiring efficient investment, Ofgem challenged the companies to improve customer service and take a more active role in helping vulnerable customers. Companies have responded well and plan to improve the help to vulnerable customers for example during power cuts.

Ofgem has also sharpened targets to help new customers, such as businesses, new renewable generation (including community plans) and housing developments, get connected to the network faster.

Dermot Nolan, Ofgem chief executive said: “As energy regulator, a core part of our role is to set price controls for these monopoly network companies. This is the only part of the energy bill Ofgem directly controls and our plans today will deliver better customer service and efficient investment at a lower cost for the customer.”

Setting a strict, but fair, set of rules will certainly help drive down bills, but also implementing other energy saving measures will help.

Nevertheless, running the boiler in the most efficient and effective possible manner will help households save 20 to 30%+ on their energy bills, and this is exactly where HeatingSave could put its extensive experience to very good use.

The system is very user-friendly and, depending on specific site conditions, can even help home owners achieve savings of up to 50%.

If you’d like to find out more details on all the features HeatingSave has in store, just contact our dedicated product team, they’ll be more than happy to provide you with all the necessary information.