Rocketing energy bills are hitting householders in the UK harder than ever before. Data from Google reveals searches for “efficient energy use” are at their highest level in ten years. It shows how desperate people are to save every penny because they’re struggling to pay their vital bills.
The rise in prices is expected to continue until 2024, due to the energy price cap increase from 1st April 2022. The new higher tariffs have left consumers wondering how to reduce their energy bills as much as possible.
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The current energy costs, introduced earlier this year, are approximately £1,971 annually for someone described as being on “typical use”. This was a 54% increase on the prior rate, dating from October 2021. Now, analysts are predicting another rise in October 2022 that will inflict a further price hike to a hefty £3,240 per year.
Consumer rights champion Martin Lewis described this figure as making him “feel sick” on his Money Saving Expert website. It will mean people who are paying £150 a month for energy costs now will see this figure rise overnight to £250 a month in October.
Despite government measures to give people crisis payments, an estimated 1.5 million people in the UK – equating to 22% of the population – are estimated to live in poverty.
Every saving helps, no matter how small, so read on to find out about the most expensive household appliances to run – and if possible how to cut down on their use.
Save money by turning down the thermostat on your boiler, the most expensive household appliance, costing on average £82 per month. The most expensive are those in old houses with separate, uninsulated tanks to heat the water. Combi boilers are usually better and modern boilers are graded in terms of energy efficiency. Whatever type of boiler you have, don’t run it at the highest setting 24/7.
The average fridge-freezer costs £43 per month to run. It is the second most energy-consuming item in the home. Unfortunately, it needs to be plugged in 24/7 and can never be turned off, so it’s hard to make any savings. The only thing you can do to cut costs is to buy a fridge-freezer with a better energy rating. While this means spending money, rather than saving it, view it as an investment for the longer term, as the initial cost can be offset by what you save in electricity use.
Using a dishwasher can cost around £10 per month. It is the fourth costliest appliance to run in the home. For many people, they are handy because they save time and can save on water consumption. In families with several children, the energy use is around three times higher, as several loads of dishes are often done each day. To keep energy consumption down, use the dishwasher wisely. Cut down to one load a day to save both electricity and water.
The average washing machine costs around £7 a month to run. This is more than twice as much as the kettle. Use the washing machine at a lower temperature to keep costs down. A 30°C wash is warm enough to kill most bacteria on lightly-soiled clothes, especially with modern detergents that are made for low-temperature washes. The best solution to cut down your energy bills is to invest in A-rated appliances.
The average tumble dryer costs around £14 per month to run, depending on how often you use it. It can be expensive if you have it running several times during the day if you’re washing and drying a family’s clothes. The best solution is to avoid using it as much as possible and hang up your laundry to dry naturally on a clothes rack indoors, or on an old-fashioned washing line outside on dry days.
The oven is a very essential appliance, but it costs around £10 a month to run with average use. It can be cheaper to heat up food in a microwave oven. Research shows if you use a microwave for five minutes a day, it will cost just £11 per year, which is a huge saving.
If you have an urgent bill to pay or need money for an unexpected household emergency, applying for a logbook loan may be a useful solution. Contact Logbook Loans 247 to find out more about how we can help you bridge a temporary financial gap.
Warning: Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk.