In the UK, the cost of living has grown at its fastest rate in nearly a decade, as consumer watchdog organisation Which? has noted. In February, hearts across the country sank when energy regulator Ofgem revealed that the energy price cap would rise by 54% in April, as The Sun reported.
Fortunately, there are more than a few ways you could help financially cushion yourself against the rocky road ahead — and some of those techniques, like those listed below, might have long eluded your notice.
Think twice about switching energy supplier
While perusing the tariffs available from various energy suppliers would usually be a reliable way of confirming that you are on the best deal possible, many people are currently likely to be in a situation where switching definitely wouldn’t be a good idea.
For example, if you are on a low-priced fixed-term deal, you are unlikely to find anything just as cheap elsewhere. If you do need a new tariff, a variable or default one might be the best bet for now.
Consider buying new, more energy-efficient appliances
If all of your existing appliances currently work fine in terms of their core functionality, replacing many of them now could prove a false economy. However, if any particular device you have needs replacing in any case, you should make sure the replacement is an energy-efficient model.
Keep in mind that, even when two particular machines have the same energy rating, they can still differ significantly in how much energy they consume in practice.
Add fresh insulation to the home
As well as adding what you might call ‘proper’ insulation to the loft and to any hot water pipes and tanks in your home, you could insulate the property through other, less direct means — like adding cosy furnishings and installing draught proofing.
Many households in the UK could also utilise the award winning loft boarding service from Instaloft to ensure the loft can be used in a way that does not hamper the effectiveness of its insulation.
Wash in a strategically cost-effective way
As revealed in various statistics shared by the Energy Saving Trust, you can slash your yearly energy bill by about £28 just by using your washing machine on a 30-degree cycle — rather than higher temperatures — and, over the course of the year, reducing your washing machine use by one run per week.
Meanwhile, if you tend to use a shower rather than a bath to wash yourself, showering for just four minutes at a time could potentially save your household £70 a year.
Reassess lighting and how often it is switched on
When you leave a room, remember to switch off any lights fitted in it. Simply getting into this habit can net you an annual saving of approximately £20 — or potentially even more if those lights are LED bulbs rather than standard lightbulbs.
On a similar note, it would be wise for you to turn out-of-use appliances off standby mode, as doing so could save you a further £55 yearly.