Newsday Tuesday: this is the reason Brits are losing hundreds of pounds each year

Newsday Tuesday: this is the reason Brits are losing hundreds of pounds each year


Posted 5th February by Peter Byrne

A study has found a third of Brits will spend hundreds of pounds each year because they're failing to switch their energy supplier

Our energy bills are a cause of concern for many Brits - in fact, one in five (21 per cent) have said they are more worried by their gas and electricity costs than they are by any other household expense.

However, many of us fail to take on board the advice that energy companies provide that could subsequently help to reduce our bills.

Research, conducted by Boiler Plan, has found Brits are not taking advantage of the deals that new customers benefit from. In fact, a third (33 per cent) have never changed their energy supplier, while 73 per cent have failed to switch in the last 12 months.

This ends up costing homeowners hundreds of pounds, with the data revealing one in five Brits (20 per cent) end up spending between £750 and £1,000 a year on their gas and electricity bills alone.

So, how can we reduce our energy costs? Well, these five tips from Boiler Plan could be the helping hand you need...

1. Use free online tools

Have you ever used the free home energy check tool at Energy Saving Trust? It calculates savings based on the information that is provided and helps you to reduce your home energy costs without spending a penny.

2. Energy-efficient products

It's not an instant saving hack but considering the energy-efficiency rating when you make new purchases will help you to save money in the long run. By installing a new A+ rated combi boiler, you could save as much as £490 on your annual gas bill - not too shabby, eh?

3. Turn down the heating

Turning your thermostat down by as little as one or two degrees could give you a 10 per cent saving on your annual heating bills, in the process, helping to reduce your energy costs too.

The majority of heating systems can be programmed to be lower during the night, but that doesn’t mean you have to be cold. Instead, think about investing in a duvet which has a Tog rating of between 13.5 and 15 helps for the colder nights, and use a hot water bottle. By drawing the curtains and closing doors, you also ensure you lose no heat through draughts too.

4. Explore price comparison websites

Price comparison sites are a great way of helping homeowners to get the best deal when they're switching their gas and electricity providers. Choosing an online tariff is advisable, as it means suppliers will not have the cost of sending someone out for meter readings – this is then reflected in cheaper bills.

5. Customer collaboration

Consumers can group together if they want to increase their bargaining power against utility providers. This means they can negotiate a lower tariff in a reverse auction. All you need to do is register online - the reverse action then takes place. This will be won by the energy company who provides the lowest tariff. This doesn't mean you cannot switch on your own and still get a good saving - it just means you collectively switch and can give you a better saving.






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