How to prepare your house for the energy price cap rise
We hate to admit it, but summer is coming to an end, which means longer nights and colder months are on their way.
This means we’ll be using more energy to heat and light up our homes in the months to come. As energy regulator Ofgem has revealed a new price cap, many people may be worried about high energy bills as a result.
The new price cap means that a typical household’s annual energy bill will rise by £149 in October. If you use an average amount of gas and electricity, you will pay £1,717 a year - marking a 10% rise compared to the current rates.
The prices are lower compared to last winter, but many people are still feeling the pinch of the cost of living crisis. In addition, some support for bills has been withdrawn by the new government, such as the end of winter fuel payments for pensioners in England and Wales.
There are a few things you can do now to prepare for the winter and to keep energy bills down as much as possible.
Money-saving expert Matthew Sheeran, from financial wellness platform Money Wellness, shares six things you can do now to get your home ready for the winter.
Deal with draughts now
"Draught-proofing is one of the cheapest and easiest ways to save energy and money," Sheeran says.
"Draughts happen where there are unwanted gaps such as those around windows, doors, skirting boards, fireplaces and letter boxes. Invest in heavy, lined curtains, seal cracks with caulk, or pick up insulation strips for around £6 on Amazon.
"Cover keyholes and letterboxes with tape to stop cold air from getting into your home. You’ll probably want to use your fire so don’t block it up but consider using a fire basket or grate to elevate your firewood, allowing oxygen to reach the fire from all sides, which will make your fire burn hotter for longer."
Check your appliances
"Remove dust and lint from appliances to keep them efficient and prolong their lifespan. Unplug devices when they're not in use or switch off the power switch at the socket or wall.
"Turn devices to ‘energy-saving’ or ‘eco’ mode when possible. Run your washing machine on a 30-degree cycle, and only run the dishwasher when it's full. Use tumble dryers sparingly."
Optimise your heating
"Set your heating to come on just before you get up and switch off after you've gone to bed. Check your radiator controls and reduce your boiler flow temperature. Lowering it by just two degrees can save up to 5% on your heating bill. You can also insulate your hot water cylinder and use hot water bottles to cut costs."
Fix your tariff
"By opting for a fixed rate tariff, you’re locking in the amount you pay per unit of energy for a set period, usually 12 months. Fixed tariffs aren’t affected by price cap fluctuations, so you won’t save, or bills won’t increase when it changes. Fixing won’t necessarily save you money, but it will give you security around what your bills will be for the next 12 months. Make sure you compare several different energy providers if you decide to fix, so you get the cheapest and best deal for you."
Check if you’re entitled to support
"You might be able to get help if you’re struggling to afford energy bills. There’s lots of different support available but what you’ll be offered will depend on your circumstances. You may be able to get fuel vouchers, a grant to help clear energy debt, help with bills or to make your home more energy efficient. You might even be entitled to a warm home discount worth £150.
"Certain energy providers could write off your debt, offer you a payment holiday, or work with you to come up with an affordable repayment plan. Contact your energy supplier and your local council to find out what help is available to you. You can use our free Money Wellness Benefit Checker to see if you’re missing out on anything."
Join the priority services register
"The priority services register (PSR) is a free scheme run by energy suppliers and network operators to provide extra support to people who might be at risk if their energy is cut off, such as pensioners, those coping with long-term health conditions/disabilities or those whose circumstances have recently changed.
"Being on it means you might get help with meter readings, there may be more flexibility in the way you receive bills or emergency support and you could get advance warning about planned power cuts."
Read more about saving money:
How to save £900 on food a year, according to an expert (Yahoo Life UK, 9-min read)
Mum saves £26k buying everything second hand, even nappies for her kids (Yahoo Life UK, 6-min read)
How 'loud budgeting' can help you talk openly about money in relationships (Yahoo Life UK, 6-min read)
