Gas prices have risen by an average of 52 per cent this year, while electricity costs are typically 28 per cent higher than in January.
That means the average annual bill has shot up by £380 in eight months.
Spiralling fuel bills have pushed many customers to switch energy suppliers, with comparison site moneysupermarket.com reporting a 39 per cent increase in visitors during the first six months of the year.
Consumers, however, are left in a quandary as to whether to move to a cheap online variable rate deal - knowing prices could rise again before the end of the year - or sign up to a fixed-rate deal.
The cheapest fixed-rate tariff in Scotland is the Scottish Power Fixed Price Energy 2009 deal, with a typical cost of about £1190.
However, the cheapest online variable rate deal is the British Gas Click Energy 5 deal, which costs about £855 for average consumption levels in Scotland.
Cavity wall insulation can cost as little as £150, depending on the type of home you live in, yet could save between £130 and £160 a year.
Grants are available from the likes of British Gas and EDF Energy, and local authorities could pay 75 to100 per cent of the costs depending on your circumstances.
Loft insulation is another great way to save. Typically, it will cost about £200 to £250 if you install it yourself, or £500 if you have it done professionally. However, the savings can amount to about £155 a year.
A formof insulation that is often overlooked, but which can pay for itself very quickly, is floor insulation.
To lift floorboards and insert mineral wool insulation costs about £90 if you do it yourself, and could save you about £40 a year.
If you're looking for a cheaper method, use a regular tube sealant such as silicon to fill the gaps between the floor and skirting boards. At a cost of about £20, you should recoup yourmoney within the first year.
Another option to reduce heat loss is double glazing, with the two panes of glass creating an insulating barrier. This is expensive - installing double glazing for six windows typically costs around £3000 - but you can get secondary glazing, which is much cheaper.
Reducing the heat loss through windows should save you about £100 a year on your energy bills. But double glazing could also earn you a discount fromyour home insurance provider, thanks to the extra security it provides.
Draught-proofing is another wise investment. Filling gaps to stop cold air entering the home could save about £25 a year on energy bills, and most of the materials are available fromDIY stores.
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