The word ‘crisis’ is often overused. But we don’t think the term is that much of an exaggeration when it comes to describing the UK’s energy bills situation. By next month, the yearly energy price cap for the typical home (paying via direct debit) will have soared threefold to over £3,500 in just a year and a half.
By next April, that figure is set to rise once more, to a predicted £6,600, before hovering around the £5,900 mark for the rest of the year. All of which means that, by spring 2023, your family could be paying some 500% more than they were pre-pandemic.
The good news is that at least there are a few things you can do to keep your consumption as low as possible while bills remain so high. Here, we list some of them, alongside an idea of how each measure could save you per year. (The source for this information is the Energy Saving Trust.)
- Home improvements
Is your home as energy-efficient as possible? Potential improvements include investing in double glazing and draught-proofing your property, as well as insulating the roof. Combined, those three things could save you a total of approaching £300 a year.
- Wash clothes at a cooler temperature
Use a 30 or 40-degree setting on your machine, and see if you can cut out one laundry load a week. Shave a fiver off your yearly electrical bill with the latter. (This may not sound much, but it all adds up when you take other steps to save money.)
- Smarter water use
It can sometimes be easy to forget that water is also a precious resource. Use a washing-up bowl instead of a running tap, have an efficient showerhead and use a timer in the shower to save a combined yearly total of potentially £50.
- Don’t leave appliances on standby
We know this is an obvious, well-reported one, but it’s surprising how many people forget to do it. Turn off appliances like TVs at the plug and save a typical sum of up to £30 annually.
- Efficient use of thermostats
With a ‘smart’ thermostat, you can save money by only heating the rooms you’re using. You can control them via a mobile phone, and ensure each room is at the right temperature at the right time. Save up to £75 yearly this way.
Meanwhile, turning down your thermostat by just a single degree could shave up to £80 annually off your energy bills.
- Maximising efficiency with your appliances
Clearly, there’s no point chucking out any appliance that’s working perfectly well. However, when the time come to replace one, it’s worth investing in a model with the highest energy-efficiency rating possible. As an example, an A+++ fridge freezer could save up to £320 over its lifetime compared to an A+ version, meaning it could almost pay for itself.
- Is it time to upgrade your boiler?
If your boiler is more than a decade old, consider its efficiency. Upgrading to a modern combi unit could snip between a fifth and just over a third off your gas bills.
Finally, keep a careful eye on your energy consumption. A smart meter can help you track this. With every activity in your home, from cooking to washing and heating, be sure you’re using no more energy than you genuinely need.
- At UW, we can help customers lock in energy rates ahead of the autumn price hikes. Our new Fixed Price Energy Tariff, available when you take energy plus at least two other services, costs £2,635 annually on average and offers savings of more than £345 against the price cap while allowing you to fix prices until the end of July 2023.
Contact us if you’d like more advice or information.