How would you spend an extra £228 per year? Money towards lowering your mortgage, a bit more spending money on your next holiday, or even a little more savings in the bank for a rainy day? £228, that’s how much you could save on your energy bills, if not more by simply lowering your energy bills.
Thankfully you won’t need to make any radical changes in in your lifestyle and none of my suggestions will take too much time either. They are all simple, cost effective, ways to save a little here and there on your energy bills. After all as the saying goes, ‘take care of the pennies and the pounds will take care of themselves’!
Here’s how to lower your energy bills
- Switch energy providers or plans to save up to a fantastic £228 a year.
Over the past few years the government, industry regulators and energy firms themselves have, separately and together, worked to make it easier than ever before to both compare the different energy plans your provider offers and to compare energy providers themselves. By July 2015 the average annual saving made when switching energy tariffs has risen from £138 in 2012 to a whopping £228, thanks to price cuts and increased competition.
The upshot is that by consulting websites such as The Money Advice Service from the government, comparison sites such as USwitch.com or Compare the Market, and getting tips from energy companies themselves you could make big savings.
- Price fixing
From time to time we all worry about future price rises, whether energy bills or any other household expenses. The kind of price fixing I’m looking at here isn’t energy companies fixing the market, but rather whether you should fix the price you pay for your gas and electricity for the next 12 months or more.
The latest round of fixed energy tariffs are coming to an end and now could well be the best time lock in the price you pay. As well as potentially saving you money fixing your energy tariff means you avoid variable bills and can better budget.
- Get energy efficient around the home.
Let’s start in the bathroom. We all take a shower in the morning, they’re faster and use less water than a bath right? Wrong. Modern power showers can use as much water in just five minutes as it takes to fill a bath! An energy efficient showerhead can reduce the amount of water used ny as much as 50%. Less water used equals less water heated, win/ win. Energy efficient showerheads cost between £18 – £45 and could save you up to £70 per year.
Around the house lighting accounts for 18% of energy usage. Energy saving bulbs might initially cost more, but they do use around 80% less energy than incandescent bulbs. According to the Energy Saving Trust each energy efficient bulb can save £3 per year.
Finally, get smart. According to research by USwitch, homes in the UK could collectively save £227m annually by turning devices off. Whilst you can’t always go around the home turning everything off, you can control your power sockets via smart sockets controllable through your smart phone.
- Chill out
Try turning down the heating during the winter. The average indoor or room temperature in the UK has steadily risen from 12c in 1970 to 17.5c and even higher today. Save money by turning down the thermostat and popping on a jumper, it can save you pounds. The active you are the warmer you are so try moving a bit more and burning some calories whilst saving cash.
Find out more about ways to save on your energy bills and to find a greener supplier visit OVO Energy.