Money saving: Britons could save over £400 on energy bills as price cap decision looms | Personal Finance | Finance


With the price cap set to change, many people will be looking for ways they can keep costs down just in case the price does rise

At the moment, a typical household with average energy use pays £2,074 a year under the current price cap, which will run until September 30.

However, analysts at Cornwall Insight currently expect the price cap to then fall to £1,860 from October 1.

But this prediction could change over the next few weeks.

The next price cap will be announced by Ofgem on August 25 and this will cover from October 1 to December 31.

Careful with washing

People can save around £30 (£36 in NI) a year from their energy bill just by using their washing machine more carefully:

People can use their washing machine on a 30-degree cycle instead of higher temperatures.

Also, people can reduce their washing machine use by one run per week for a year.

Avoid the tumble dryer

Avoid using a tumble dryer for clothes: dry clothes on racks inside where possible or outside in warmer weather to save £60 (£75 in NI) a year.

Spend less time in the shower

Keeping the shower time to just four minutes could save a typical household £75 (£65 in NI) a year on their energy bills.

  • Other options include:
  • Swapping a bath for a shower could save £17 (£14 in NI) a year.
  • Being savvy in the kitchen by fitting an aerator could save £30 (£30 in NI) a year.
  • Topping up the insulation could save £50 (£40 in NI) a yea.
  • Turn off lights could save around £25 (£30 in NI) a year.

As summer draws to a close, people can also try and “winter proof” their homes for the colder months ahead.

Hive’s smart tech products and services can help people create a greener home or save money on heating costs. Their Thermostat Mini can help people save on their energy as it manages and schedule someone’s heating from the app.

Britons can save up to £150 per year on heating costs and cut gas consumption by 54 percent. Britons can check their website for full list of exclusive offers.

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