Octopus has shared seven tips to help Brits reduce their gas and electricity bills this winter, as Ofgem's energy price cap rises by 4% on October 1 to £1,723. The cap limits how much suppliers can charge for unit rates (the price per kWh of gas and electricity) and standing charges (the daily fixed fee).
Why bills are rising
Ofgem reviews and updates the cap every three months, with changes driven by shifts in the underlying cost of supplying energy. The cap affects around 22 million households on standard variable and other default tariffs.
Octopus's seven tips to cut costs
Octopus's first tip is to retain heat as much as possible. Check loft insulation, fill any draughty gaps around windows or doors, don't forget things like letter boxes or unused chimneys that leak warm air, and avoid covering radiators with furniture or curtains.
Next, if you have a gas boiler, check its flow temperature – the temperature of water flowing from the boiler to the radiators. Many are set too high by default. Lowering it to 55C to 60C keeps homes just as warm but can trim bills by around 12%.
Turning your thermostat down by 1C could save up to £145 a year. You'll use energy more efficiently by setting it to come on only when you need it and leaving it steady between 18C and 21C.
Smart heating and small tweaks
Smart thermostats and thermostatic radiator valves (TRVs) can help reduce waste by heating individual rooms. If you're at home during the day, schedule heating for occupied rooms only or close the door to a smaller room to let your body heat warm it naturally.
Small tweaks can also make a big difference, like washing clothes at lower temperatures, air-drying instead of tumble drying, batch-cooking meals and using residual oven heat, and fitting radiator reflectors and pipe insulation.
If you've got a smart meter, check your live data to see exactly how much energy you're using in real time. It's a great way to spot 'vampire' devices that draw power even on standby.
Finally, make sure you're on the right tariff. Many homes can save money with time-of-use tariffs – where prices vary by time of day. These tariffs reward you for shifting energy use to off-peak hours, which is handy if you have an electric vehicle, heat pump or home battery.
