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Doing one thing 'can save Brits up to £109 on energy bills' following price drop

Billpayers across the country will be paying less on average for their energy bills from today (July 1). Ofgem's new energy price cap will now come into effect, resulting in the average dual-fuel household paying £122 less.

The new price cap dropped to £1,568 a year from £1,690, however, your energy bill may vary depending on usage. A major change in energy bills will spark questions around whether now is the right time to sign up for a fixed energy tariff which caps how much you pay each month, or stay on a variable tariff which sees bills fluctuate with the market. Fortunately, experts from comparison site Utility Bidder have dished out their latest advice for indecisive billpayers as well as some other tips to cut costs.

James Longley, managing director at Utility Bidder, said: "With Ofgem’s energy price cap set to fall today by 7%, there will be UK customers out there questioning whether now is the right time to switch to a fixed energy deal. More than 90% of UK homes pay the standard tariff and the full price cap.

"Fixed rates, however, help give customers peace of mind and provide lots of choice in terms of start and end dates; this is coupled with exit fees and the lost benefit of falling energy prices when you are already under contract. Recent projections indicate that the price cap will go back up 4% to around £1,630 in October, and a similar rate could be in place for the start of 2025.

"Of the major energy companies offering fixed rate deals at this current time, all offer fixed deals to existing customers, with a large majority offering incentives to new customers as well. It would be recommended that you look into and compare comparison sites to find the best deals for fixing your energy, and this should