The regulator has raised the cap from the current £1,568 for a typical dual fuel household in England, Scotland and Wales to £1,717, or about £12 a month more on average bills.
But if you are worried about the increased price of energy bills this autumn and winter, Location, Location, Location star Phil Spencer has shared some tips on how households could “save hundreds”.
Wickes has teamed up with the Channel 4 property expert, to reveal steps to take to reduce energy bills in the short term.
The new Ofgem price cap starts today.
Take your meter readings today and send them by 14 October. We’ll use them on your next bill. https://t.co/jb8tYHwSFK.
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— British Gas (@BritishGas) October 1, 2024
Phil commented: “Energy is one of the top costs of running a home and it can be difficult to know where savings can be made.
“Simple tips like switching off lights and not leaving electricals on standby are some of the quickest and most effective ways to reduce costs.
“At the same time, higher investment items like solar panels could be the secret to saving hundreds of pounds each year in the long term.”
Phil Spencer’s easy ways to save money on energy bills
Phil went on to explain his ‘do it now’ low-budget energy-saving tips, such as:
Contain heat
Doors and windows are some of the most common areas to suffer from draughts.
Help contain heat and boost the effectiveness of your central heating by investing in draught excluders for as little as £6.
Better yet, getting in a professional to draught proof can save around £35 a year.
Another solution is topping up insulation. Insulation rolls that have a thickness of 200mm or above, or those with a 100mm thickness can be combined with existing insulation to boost effectiveness.
Topping up your loft insulation from 120mm to 270mm can save up to £19 a year and 55 kg of carbon dioxide emissions while installing cavity wall insulation could save you up to £210 a year.
What is Winter Fuel Payment?
‘Switch it off’
Turning off your lights when not using them could save you around £7 on your annual energy bills and avoid 6 kg of carbon dioxide emissions a year.
An even easier way to save is by replacing your regular bulbs with LEDs. Switching out just six halogen spotlights with an LED equivalent could save £23/year and 24kg of carbon dioxide emissions a year.
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Water-saving shower head
The cost of water is also a growing concern for Brits. Opt for a water-saving shower head to reduce water usage by up to 50% without compromising performance.
Doing so can save a typical household up to £25 off their gas bill, and £35 off their water bill each year.
It’s one of the easiest switches homeowners and renters can make to save money on bills.
