My Bills are soaring – What can I do?

Here are the 7 steps you can take to make a start on saving the planet and your bank balance!

Contrary to popular belief the energy cap will not cap your bills it’s a cap on “average bills” so if you use more energy than average your bills will be above the prices quoted by the media. Many of us may be on fixed term deals which at present cannot be bettered by moving to a new supplier so its best to stick on the deal you have until it expires. Once that deal expires you will see a big hike in prices for energy but there are some steps you can take to mitigate some of the costs.

1. First on list of things which needs to be addressed is: Insulate your house. Home insulation is the most important thing you need to tackle before embarking on other projects and is a requirement if you want to apply for grants to make other energy improvement projects. Further information on insulation is available here.
2. If you have suitable roof space, consider fitting solar panels. Fitting them to a standard tiled or slate roof is a quick and easy installation and is exempted from planning permission as it is considered a permitted development. Prices have dropped dramatically in the last few years and a typical 4KW system including fitting is approximately £6k payback periods can be under 3-5 years (depending on the price of wholesale energy). Such a system will save you £500 off your annual electricity will and you will also receive payments for export to the grid. More information can be found here.
3. Consider fitting an immersion/mains pressure hot water tank. If you have solar panels you can divert excess energy into the tanks to get free hot water for showers and hot water taps. If you don’t have solar panels, then consider switching to a tariff which has off peak rates (when your existing tariff ends). That means you will be able to heat water at cheaper rates during the night and use it during the day when rates are high. See here.
4. If your boiler needs replacement, consider a heat pump (only if your house has been thoroughly insulated). Heat Pumps can produce hot water for showers and well as heating your house. Note heat pumps will not work if you have microbore pipework. You may also need to replace your radiators for larger capacity units. Fitting a heat pump is expensive but grants are available see here.
5. Turn your heating down. By reducing your consumption, you will automatically lower your bills.
6. Many of us have rooms in the house which are not frequently used. Consider turning off the radiators in those spaces and only heat the rooms which need it.
7. Avoid paying for things on standby. These are known as vampire devices. See here.