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Saving money on fuel bills

Back in January an energy firm were ridiculed for telling customers to stay warm amid rising costs by cuddling pets. Although ridiculous, the message was about saving money. With energy prices up by 54%, do you know the best ways to lower gas and electricity bills?B

Save energy bills

Horrendous price rises

Yes, in April we saw household fuel bills rise from £1,277 to an eye-watering £1,971 per year. Here is how the money is split up:

  1. Wholesale cost of energy £1,077
  2. Network cost (pipes & wires) £371
  3. Admin (meters & billing costs) £185
  4. Green levy £153
  5. VAT £94
  6. Profit for supplier £35
  7. Other £56

 Act now 

Start by understanding your energy bill and locate where the energy is being used in your home. Then, the easiest way is to reduce the amount of gas and electricity used in a year.

  • Turn off standby appliances. 
  • Install a smart thermostat, by only warming the rooms you are using. They can also be controlled by a phone.
  • Turn down the traditional thermostat by one degree.
  • If buying new appliances, go for A+++ models. 
  • If changing the boiler, install a new A-rated condensing boiler with room thermostat and thermostatic radiator controls. 
  • Be smarter about water, with a shower timer. By cutting just one minute off every shower will save money
  • Insulate the roof to stop heat escaping. 

If the above list it too difficult, then run washing machine at 30 degrees rather than 40 degrees. This will save money; running at 20 degrees will save more money. Government statisticians reported that as energy and food costs increase, 34% of households with rising living costs said they were using less gas and electricity, while 31% said they were spending less on food. This is forces choices between heating and eating.

ChildMax pays your take home salary while you’re on 12 months’ unpaid leave, caring for a sick child. It starts from £49.50 or for easy budgeting an initial payment of £8.25 followed by 11 monthly payments of £3.75.

Visit at www.insurewithmax.com  or call the UK call centre 0333 323 0098 for more information.

Sources:

https://www.moneysupermarket.com/gas-and-electricity/energy-saving-tips/

https://www.bbc.co.uk/news/59897048

 

Date: 02 May 2022 by Max Robinson