7 Money Saving Energy Tips
A little know-how can go a long way, and the following tips can help you save even more on your home energy bills.
| Check Your Eligibility See If You Qualify For The UK’s Cheapest Gas And Electricity Deals And Up To £477 Off Heating Bills >
Make sure you’ve checked out our Gas & Electric Price Comparison page to see if you’ve got the best energy deal possible, and read on for some great energy saving tips from GrownUpMoney.
Fix your tariff for long-term savings
If you’re worried about dealing with rising energy prices, switch to a tariff which is fixed for as long as possible. You won’t have access to the cheapest rates available, but it will give you peace of mind and eliminate any nasty surprises. Be aware of the risk that is prices fall you’ll continue to pay a higher rate. However, most experts predict that energy prices will rise further, and there is little chance of any significant drop on the horizon.
Switch to a dual fuel tariff
Another way to make savings on your bills is to switch to a dual fuel tariff, meaning you’ll get your gas and electricity from the same supplier. Most suppliers offer a dual fuel discount, and this gives instant savings off your bills. Online tools are available to calculate the discounts and savings you can achieve. Dealing with a single gas and electricity supplier can make it easier to manage your energy bills and get help when you have a problem. Having a single energy bill can also make it easier to understand your home energy use and look at ways you could make savings.
Check for penalties when switching gas and electricity supplier
Look out for exit charges and administration fees you may have to pay if you decide to switch energy supplier. Switching services like Energyhelpline and Uswitch make this very clear, so using one can help to avoid this pitfall. The Ofgem Confidence Code gives guidance to suppliers about making penalties clear and easy to understand. If your supplier increases prices during the term of your contract, you may be able to exit without additional costs. Remember, the energy industry in the UK is highly regulated, so don’t be afraid to complain if you feel you’re being treated unfairly.
Pay by monthly direct debit
Setting up a monthly direct debit arrangement for your energy bills could bring savings of up to 8% – which has the potential to be huge! It’s important to give your supplier regular meter readings if you do switch to monthly payments as without them they will estimate usage and this can lead to problems or being in arrears. Paying on monthly direct debit can even out the higher energy bills of winter months, as your annual bill is usually divided equally throughout the year.
Free boiler replacement and home insulation
Cavity wall and loft insulation can reduce home energy bills by as much as £300, and you may be able to claim this for free, as well as a new or replacement boiler. You must live in your own or privately rented accommodation to qualify, and be on a low income or in receipt of certain benefits, so it’s definitely worth checking if you’re eligible. Up to a quarter of your home’s heat escapes through the roof, and you are losing valuable warmth if you don’t have adequate insulation. Find out more
Winter fuel allowance eligibility
Winter Fuel Payment or Winter Fuel Allowance is an annual payment to help with heating costs. You may be entitled to claim £200 a year if you are under 80, and £300 if you are over 80. It’s worth checking out, as eligibility changes each year as people get older, so make sure you’re aware of the current criteria to avoid confusion. Call The Winter Fuel Payments Helpline on 0845 915 1515 to make a claim if you aren’t receiving this valuable allowance. You only need to claim once, and you will continue to receive the allowance every year unless your living arrangements change.
Use smart meters
Sign up to the GrownUpMoney newsletter and get the latest energy deals, information on energy efficiency and money saving tips.
Being over 50 isn't what it used to be. More of us are living longer, healthier and more active lives, and even delaying retirement out of choice or for financial reasons. GrownUpMoney helps you plan for tomorrow, today - with expert guides, articles and product listings.Find Out More