Seeking shelter from the base rate battering?

Consumers could offset base rate rise by switching energy providers, says uSwitch.com.

Following the .25% base rate rise, Ann Robinson, Director of Consumer Policy at uSwitch.com, the independent online comparison and switching service, says: “Today’s (10 May 2007) hike in the base rate will see millions of homeowners tightening their belts to alleviate the squeeze on their wallets. One of the easiest ways they can do this is by reducing the basic cost of running their homes.

“Energy bills are the third biggest household expense after mortgages and council tax. A homeowner who has never switched energy providers before has got the potential to unlock ‘wasted’ cash, save up to £325 per annum or £27 a month and offset all of the latest interest rate rise.

“A base rate rise and the impact on mortgage payments are entirely out of people’s control, however, simple changes to save money on energy bills are not. Quick wins such as paying by direct debit, switching to dual fuel and taking up an online tariff could chip substantial amounts off the average energy bill. For those affected by today’s rate rise this could be the difference between seeing a dent or a hole in their household budget.”