Taking some simple steps in your home can help you save money on your energy bills.
With prices set to rocket by 54 per cent next month, you may be looking for ways to cut costs.
Doing things like turning down your thermostat – even by just one degree – or switching appliances off rather than leaving them on standby can help to reduce those dreaded gas and electric bills, according to a new consumer watchdog report.
Ofgem revealed that he price hike will see the average household energy bill increase by an eye-watering £700 per year.
And added pressure to supplies are occuring due to the war on Ukraine means further increases are likely to come in October.
(Image: Getty)
The October hike could potentially push the typical bill to as much as £3,000 per year, reports The Mirror.
But consumer group Which? said that while surging wholesale gas prices are outside the control of ordinary consumers, there are steps we can all take to keep our energy bills as low as possible.
One of the simplest ways to save money is by turning down the thermostat.
Lowering the dial by just one degree could reduce bills by around £80-85 per year.
Adjusting central heating timers to switch off at night and during the day if the house is empty will also minimise fuel consumption.
For rooms such as bedrooms that stand empty during the day, people should consider turning the radiator down to the lowest setting.
(Image: Getty)
Fitting reflective foil behind radiators on external walls will also help reduce the rate of heat loss in these rooms.
Which? also suggests taking a look at appliances that aren’t always in use and turning them off at the power if they’re on standby. For a typical home, this could save £55 a year.
Lowering the temperature of washing machines is an eco-friendly way to save money.
Which? found that even a 20C wash can do the trick in some cases, particularly when using liquid detergent rather than powder.
Natalie Hitchins, Which? head of home products and services, said: “Huge energy bill hikes are a cause of real concern for millions of households across the country, especially when many are already feeling the pressures of the cost-of-living crisis.
“Which? has found that everyone can make small changes to reduce their energy consumption – and most importantly save money. Small steps taken together can add up to huge savings.”
Analysts have warned household bills could rise even further after gas prices soared by more than 70% to hit a new all-time high as fears over supplies from Russia continued to rock the market.
Prices are now more than 20 times higher than they were just two years ago, increasing on Monday from what were already record highs last week.
The price of a therm of gas, the commonly used measure, shot up to around 800p during the morning.
It had been at around 460p on Friday.
The price later fell back from that record high and was trading at around 590p a little before midday on Monday.
It is likely to lead to an even bigger squeeze on households.
Energy prices are set to increase by more than 50% to close to £2,000 for the average household on April 1.
Already last week, when gas was trading at much lower levels than on Monday, experts predicted the price cap will rise by around £1,000 to more than £2,900 in October when it is next changed.
However, the rise could come sooner if industry regulator Ofgem decides the market cannot handle the pressure.
Earlier this year the watchdog gave itself new powers to step in between price cap periods to adjust the amount that suppliers can charge.
It came as the price of oil also surged to its highest for 14 years after Washington revealed it is in talks with European allies over banning imports of Russian oil.
The prices of both commodities have shot up since Russian President Vladimir Putin ordered an unprovoked full-scale invasion of Ukraine less than two weeks ago.
The EU relied on Russia for around 46% of its gas and around a quarter of its oil in the first part of last year.
So far European and US sanctions have not directly targeted Russia’s energy exports – which prop up the country’s economy – because of fears of the knock-on effects.
The UK is less reliant on Russian imports than many countries on the Continent, but prices here tend to track those in Europe.
10 tips to help save on energy bills
- Lowering your thermostat dial by just one degree could reduce bills by around £80-85 per year.
- Adjusting central heating timers to switch off at night and during the day if the house is empty will also minimise fuel consumption.
- For rooms such as bedrooms that stand empty throughout the day, people should consider turning the radiator down to the lowest setting without turning it off completely.
- Fitting reflective foil behind radiators on external walls will also help reduce the rate of heat loss in any room.
- Lowering the temperature of your washing machine is an eco-friendly way to save money. Even a 20°C wash can do the trick in some cases, particularly when using liquid detergent rather than powder.
- For drying clothes, aim to dry clothes on a rack instead of in a tumble dryer – for those who do opt to use a dryer, clean its filter first to improve energy efficiency.
- Not quite a simple tip, but did you know up to a third of heat disappears through the roof? As a result, it makes sense to add insulation if you can. Which? found that installing loft insulation, if you do not have it already, could save you up to £215 per year in energy bills depending on your home.
- Buy a draught-excluding cushion and put it in front of your door to maximise savings tackle draughty windows, doors, chimneys, floorboards, skirting boards and loft hatches – this can be done using draught excluder strips or expanding foam fillers. The saving could be £25 a year.
- When changing lightbulbs, swapping old-style bulbs with energy-saving LED bulbs saves around £7 per year in running costs. As they are longer lasting a single bulb, they could eventually cut around £180 from your energy bills, compared to an old-style halogen bulb.
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Turn appliances off at the power if they’re on standby. For a typical home, this could save £55 a year.
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