Millions across UK could save up to £851 on energy bills | Personal Finance | Finance

Millions of households could slash hundreds of pounds off their energy bills as wintery weather threatens to tighten its grip on Britain.

With the Met Office warning that colder conditions – and even snow – could be on the way, families are being urged to act fast to avoid paying over the odds to keep their homes warm.

Figures from energy regulator Ofgem show that around 62% of households remain stuck on their supplier’s Standard Variable Rate (SVR) – the most expensive tariff providers are allowed to charge.

Those customers could be missing out on savings of up to £851 a year simply by switching to a fixed-rate energy deal, according to savings data from Decision Tech.

And some 10% of customers who switched using MoneySuperMarket saved £851, based on its December 2025 figures.

Alastair Douglas, chief executive of TotallyMoney, said many households were bracing themselves for a painful rise in bills just as temperatures begin to fall.

He said: “With the warning that colder weather, and even snow could be on its way, households across the UK will be turning up their radiators while worrying about the spike in their energy bills.

“But with six in ten are paying the maximum their supplier is able to charge, and could save up to £851 by switching to a new fixed-rate energy deal.

“If you’ve not moved suppliers in a while, check your account to see if you’re free to move, and if you’re already locked into a deal, look at the small print to see if there are any early exit fees and charges for leaving early.

“When it comes to energy suppliers, remember that loyalty doesn’t pay, but switching can.

“And it might be more straight forward than you think, as all your pipes and plugs stay the same, the switch takes place remotely, and it should be done within five working days.

“If not, you’ll get £40 in compensation which the supplier must pay within 10 days, and if you change your mind about the new provider, you have 14 days to cancel.”

Under Ofgem rules, switching energy suppliers should take no more than five working days. If that deadline is missed, customers are entitled to £40 in compensation, which must be paid within 10 days.

The warning comes as many households face a difficult winter balancing heating costs against other rising household bills, with energy use typically surging during cold snaps.

The message for households, say experts, is clear: those who stay put risk paying the price, while switching could bring rapid and substantial savings just as the cold weather bites.