Every little bit of money saved right now helps us stretch the budget out. With so many people falling through the net of government support and a huge loss in jobs hitting the nation, we're right to use the popular phrase of ‘uncertain times'. One of the ways you can save some money with some simple changes to your habits is your electricity bill. Energy costs money so every time you turn the light on or leave an appliance running when you don't need to, you're spending money.
When was the last time you looked at the direct debit that is coming out of your account every month to pay for your energy? What is the average electricity bill in the UK and are you paying more or less than that? How can you save some cash on the electric that you use? In this blog post we're going to explore all of that and equip you with some knowledge to implement to help you save energy and money.
The Average Electricity Bill
Firstly, let's take a look at the average UK electricity bill. The latest figures show that it's just over £700 a year, which works out to be around about £60 a month. Don't forget that your bill is made up of a few different things, not just the energy you use. The wholesale price of the electricity you use makes up about a third of the bill. The tariff you're on with the electricity company has a daily standing charge and then a unit rate per kWh used. About a quarter of the bill covers the maintenance of the wires it takes to bring electricity to your home, this is called networking. Then there are operating costs, VAT and government backed programs that energy companies are included in. These help to reduce emissions and these make up about 8% of your bill. When you take all of this into consideration
How To Save Money On Your Electricity Bill
There are a lot of different ways to save money on your electrify bill. How exactly can you reduce the price you're paying every year in order to save money that you can use in other areas of your life, or save for a rainy day? The first of these is to check your supplier.
Check Your Supplier
Many of us stay with the same energy supplier, thinking it's easier to stick rather than twist to a new company. The transfer to a new company is an easy process and there is no break in your services. You simply start paying a different company with a different customer service and alternate prices. If you're on your company's standard rate, you're paying too much and will save money by switching.
Do a simple online comparison to find out how much you could save. Don't be put off by smaller companies you've never heard of. They offer great rates to get customers on board but if they do go bust, which some have in the past, you simply get transferred to a new company and can switch elsewhere should you want. Check the customer services of companies too. Reviews from current customers are worth looking at as it can help you decide if the company is worth swapping to. If you want to stick wit the company you are currently with, be sure to give them a call and check you're on the best tariff.
Switch Stuff Off
One of the best ways to save money on your energy bills is by switching things off. How often do lights get left on in your home? Does the TV play the latest box set to no one as there is nobody in the room? Even leaving appliances on standby will cost you over the course of a year. Switch off what you're not using and you can get the price you're paying closer to that average electricity bill.
Change Your Lightbulbs
We need lightbulbs in our homes so we can see when it gets dark. Traditional lightbulbs aren't that energy efficient. Investing in LED lightbulbs might cost a little bit in the outlay. However, they use less energy to work and last longer too, so you'll save money in the long run.
Only Boil The Water You Need
How often do you brew up during the day? If you're only making one cup of tea, only boil enough water of one cup of tea. If you're boiling half the kettle every time, you're using energy to boil water that you don't need. It's not like it will be warm when you next come to the kettle. So you'll have to boil it again. By only filling the kettle with the amount of water you need, you'll save money as you'll use less energy. You'll also get that warm drink sooner as it'll take less time to boil, saving you time as well!
Invest In Energy Efficient Appliances
We all have appliances around our home that work with electricity. From fridge freezers, to televisions, to computers and washing machines. Every time we turn these on or leave them running they're using electricity and costing you money. By buying energy efficient appliances they'll be using less electricity to run. Hence saving you money and lowering your average electricity bill. You can find out how efficient your appliances are by looking on the label or searching online for the make and model. If you're buying new appliances be sure they are rated A or above.
Avoid The Tumble Drier
Lots of us have tumble driers to help get our clean laundry dry. It's important to get our wet clothes dry again quickly, not only so they can be re-worn, but so they don't start going smelly when they are damp. Tumble driers cost a lot of money to run! If you are able to use an outside washing line, it's free! The sunshine and wind will dry your clothes for you. If the weather is rubbish, consider a clothes maiden. if you have an undercover area outside you could pop your maiden out there and your clothes should dry without adding any moisture to your home. There will be times where you need to use your drier but it costs a lot to run!
Downsize Your Home
The more rooms in your home, the more lights you have, the more things you likely have plugged in, the more money it takes to run. If you want to reduce the amount you pay in utility bills, consider downsizing. If there are only two of you in your house, why do you need a four bedroom home? Whilst we do enjoy our space, think about wat you could do with the money saved!
Install Solar Panels
Finally, renewable energy is important. Think about where your energy comes from. If you're looking for a new energy company as mentioned above, you might see some who only supply renewable electricity. If that appeals to you, you might find yourself paying slightly more, but you can be sure that you're playing your part in the fight against using fossil fuels and destroying our environment. Installing solar panels on the roof of your house is a great investment. You can actually reduce the amount you pay every month well below the average electricity bill. In fact, you can reduce it down to £0. Better yet, there are ways that you can sell any extra electricity made back to the electricity board. Which will make you money!
Save Electricity & Save Money
Don't forget, most energy companies average out your personal projection over 12 months so you pay the same each bill. This helps you manage your money better as you're not paying more during the colder darker winter months. You'll be using more, yes. However, it means you don't get varying bills throughout the year. Your account will likely build up credit during the summer months which you can then use during the winter. Ideal really! Of course, the more energy you save, the less money you'll pay and you'll hopefully come in somewhere under the average electrify bill.