Households across the UK are bracing for another winter of financial strain after a recent rise in energy bills. Earlier this month, Ofgem raised its energy price cap, leading to an increase of approximately £149 a year for the average household. This cap limits the amount energy providers can charge per unit of gas or electricity, but those who use more energy will ultimately pay more, adding to the financial burden many are already experiencing.
Rising Energy Debt Amidst High Prices
Energy debt remains a significant issue as prices continue to stay high. With the colder months approaching, many families are struggling to manage their rising energy costs. While larger solutions like installing solar panels or other renewable energy sources can help, they often come with significant upfront costs.
To help households navigate these challenges, experts at MoneyMagpie have shared some affordable and straightforward tips to reduce energy usage and save money this winter.
Top Tips for Cutting Energy Costs
- Turn Your Curtains ThermalA simple and cost-effective way to insulate your home is by transforming your existing curtains into thermal ones. By unpicking the lining of your current curtains and sewing in a PVC shower curtain before relining them, you create a barrier that traps heat without altering their appearance.
- Wrap Your WindowsFor those with single-glazed windows, inexpensive thermal film can be a great solution. This product enhances the heat retention of your windows without affecting the amount of natural light entering your home.
- Eliminate Pesky DraughtsDraughts coming through doors can significantly lower the temperature in your home. Using draught excluder tape—an inexpensive solution—can effectively seal those gaps and prevent cold air from seeping in.
- Use Your Smart Meter WiselyIf you have a smart meter, place the display in a visible area of your home. This allows you to monitor your energy usage in near-real time, helping you identify where you can make simple changes to reduce consumption. If you haven’t got a smart meter yet, you can request one from your energy supplier at no extra cost.
- Switch Off Standby DevicesLeaving appliances on standby can result in a noticeable increase in your energy bills. By turning off devices at the wall instead of leaving them on standby and switching off lights when not needed, you can save hundreds of pounds over the year.
Looking Ahead
With energy bills projected to stay high, implementing these easy, affordable tips can make a difference for households trying to manage their budgets this winter. While the energy price cap helps to regulate unit costs, being mindful of energy consumption is crucial for keeping costs as low as possible.
For further information on how to reduce your energy bills and manage your finances this winter, visit MoneyMagpie’s website for more expert advice and tips.
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