Energy Bills Set to Rise as Price Cap Ends on June 30
Households across the UK are bracing for increased energy costs as the current price cap concludes on June 30. With the ongoing cost of living crisis and geopolitical tensions affecting global energy markets, family finances are under significant pressure. Gareth Kloet, an energy spokesperson at GoCompare, warns that the outlook points to a substantial rise in energy prices following the cap's expiration.
"The cost of energy is very volatile," Kloet explains. "At the moment, we see the regulator change the price cap quite significantly every three months, and the expectation is that costs will climb after June 30." While the price cap fell at the start of April, Kloet emphasises that it is not solely about immediate savings but also about shielding oneself from future increases.
Practical Steps to Reduce Energy Consumption and Costs
Kloet advocates for adopting energy-conscious habits as standard practice throughout the year. Here are several actionable strategies to help mitigate the impact of the impending price rise:
- Switch Off Standby Devices Every Night: Estimates suggest that turning off electronics at the wall overnight can save between £60 and £100 annually, depending on electricity costs.
- Utilise Warm Weather for Laundry: Instead of using a tumble dryer, hang clothes on a washing line when possible. Additionally, washing at 40 degrees Celsius rather than 60 can save £15 to £40 per year.
- Consider Fixed Rate Tariffs: Moving to a fixed rate deal may not save money against current prices but can protect against potential future rises, similar to a fixed rate mortgage.
- Upgrade to LED Lighting: Replacing old-fashioned bulbs with LEDs, which use about a tenth of the electricity, is a highly effective efficiency measure.
- Be Mindful of Kettle Use: Avoid overfilling the kettle and only boil water when genuinely needed to reduce unnecessary energy consumption.
- Invest in Efficient Appliances: When purchasing new cookers, fridges, or dishwashers, opt for A-rated models over less efficient alternatives to achieve long-term savings.
- Reduce Shower Time and Water Flow: Showering instead of bathing, keeping showers short, and using water-saving devices on taps and showers can lower both water and heating costs.
- Leverage Insulation Year-Round: Proper insulation not only retains heat in winter but also prevents heat from entering the home in summer, reducing the need for heating or cooling systems.
- Optimise Garden Energy Use: Embrace initiatives like 'No Mow May' to reduce the use of electric garden tools. Consider solar-powered lights instead of halogen bulbs for outdoor lighting.
- Use Air Fryers or Barbecues: Air fryers are generally more efficient than ovens due to their smaller size and faster cooking times. During warmer months, barbecuing can also help cut energy bills.
Seeking Support for Energy Bill Difficulties
For those concerned about managing their energy bills, Kloet advises contacting energy suppliers directly. "Speak with your energy supplier, they are there to help," he says. "They're not trying to cut you off. Discuss available assistance, such as the Warm Home Discount or support for implementing energy-efficiency measures in your home." Proactive communication can provide access to vital resources and guidance during challenging financial times.
