Energy bills: could going abroad this winter help you save?
Soaring energy bills mean many Britons are dreading the arrival of winter and considering big lifestyle changes to cope with the financial pressure. So, if your personal circumstances allow it, what about escaping abroad for the coldest months of the year?
Tom Church, the co-founder of the money-saving community LatestDeals.co.uk, is one of them. He says he is considering packing his bags after concluding his rising gas and electricity bills will cost him more than renting somewhere in Europe this winter.
“I wondered: ‘What if I close up the house, turn everything off, and head off for the most expensive months?,’” Church said. “If you’re a renter and can cancel your contract to move abroad for a few months, you can save hundreds.”
The apartments are cheaper to rent and the energy costs are often a lot less, he adds.
The shift to flexible working ushered in by the coronavirus pandemic means the idea is not as radical as it would have seemed a few years ago. The ability to do this of course requires a lot of flexibility and is more likely to appeal to remote-working singles, couples and young families and retirees than say those with school-age children. You also need to be able to afford the upfront costs of accommodation and flights.
However, Church is not the only one considering his options, with online searches for “move abroad” up sharply in recent months amid a worsening cost of living squeeze.
Last month the energy industry regulator for Great Britain confirmed an 80% rise in the consumer price cap from October that will take a typical household’s gas and electricity billto £3,549 a year. The next cap, for the period January to March 2023, could be higher still at more than £5,000.
The new cap, which kicks in on 1
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