Ofgem Price Cap: How can you save money on your bills?

How can you save on your energy bills?

Transcript

00:00Indeed, when functioning properly, smart meters can save money by providing real-time data

00:07on energy usage, helping consumers reduce wastage and manage consumption more efficiently.

00:13Experts recommend considering a smart meter for its potential benefits, but advise ensuring

00:19the meter's reliability and compatibility with your energy provider.

00:25Ofgem.gov.uk says the energy price cap does not set a limit on the unit rate or standing

00:30charge a supplier can charge you, but it does set a limit on the overall amount you will

00:35pay. For example, you could be on a tariff that has a higher unit rate but a lower standing

00:40charge.

00:41When you add them all up, it's going to make a really big difference to your energy bill.

00:46So I'm talking things like Smart Energy GB did some research and they spoke to their

00:51smart energy users and smart meter users and things like switching off lights in rooms

00:58that aren't being used, using an air fryer and turning the temperature down on your washing

01:03machine.

01:04Those three simple things actually have a big impact, but there's lots of other things

01:07you can do.

01:08Turn the temperature, the thermostat temperature down.

01:12If you're used to 22 degrees, you know, put that down to 20.

01:17It's a small difference, but it actually makes a really big difference to your heating bill.

01:21Your boiler flow temperature needs to be no higher than 60 degrees.

01:24That's something that still a lot of people are really uncomfortable with.

01:27I do, I gamified energy usage with my children.

01:32So what I do with them is I get them to take ownership of the energy usage in the house

01:38for a day each.

01:39So I've got three boys and they have a bit of a competition between us who can use the

01:44least amount of energy.

01:46And then you're actually engaging them to go around the house, you know, switching everything

01:50off, not leaving the lights on, not leaving your Xbox on for five hours.