If you are a student, you’ll certainly have planned your budget for this year and perhaps you even managed to add a safety net over all your livings costs for any miscalculations – and this – according to Ofgem, is not far from being just that.
Winter will be here soon and you will be sure to enjoy a hot shower and sleeping in a warm, cozy, room at the end of each day – but how much more will that cost you? Think double digits on this one; like something around 11% more than it did last winter – allow me to explain why.
Last Sunday, October 27th, British clocks, watches and electronic devices were set back an hour. The colder seasons are here bringing rain, snow and longer, darker nights until March 31st, when clocks get set forward again. Students and homeowners are about to face not only the harsher climates but an even tougher to swallow increase in energy bills.
…households across the nation will be cutting back on energy this winter…
According to Uswitch, over 80% of households across the nation will be cutting back on energy this winter – heaters off and jumpers on as prices are announced to rise from 8% to 11% depending on your chosen company.
The reason behind this increase is down to rising wholesale prices and upgrades demanded to the firms by the government. Yet according to Ofgem, the agency that regulates energy services in the UK, electricity and gas companies have had twice the usual profits in this past year. While that would be enough to invalidate the hike in price, it has now come to the public that wholesale prices for the Big Six (the six main companies providing gas and electricity) has remained pretty much the same, since autumn 2012. Yes 2012!
…you will need to re-budget…
As some families might be cutting back on pizza nights and field trips, while many pensioners consider wrapping up against the cold and keeping their heaters off; you might wonder what this means to you as a student.
If your utilities are included in your rent you are safe, at least for now. Do expect, on the other hand, that next year your rent will read just above inflation as your landlord or your Uni halls will need to make up for lost time. Now, if your utilities are not included you will need to re-budget – but you can choose, so don’t worry – do you want to cut back on music, toiletries or leisure time?