Understanding the energy cap and tips for saving energy bills

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I know a lot of people are worrying about their energy bills right now. Honestly, it's pretty shit to know that the cost of living is going to up even more so I wanted to share a few tips on keeping bills down.

1. First off, the energy price cap looks scarier than it actually is. While some homes might hit the per-year cap, once you look into how it's calculated, you'll be able to see more accurately how your bills might change.

The price cap is actually calculated on kWh price, which a lot of sources then turn into a per-year price based on the 'typical' home. The current electricity cap is 28p per kWh. Predictions (and they are just that right now) suggest this could go up to 39p per kWh.

That's a huge jump but if your electricity bill is £50 per month right now, you aren't going to be paying £4000 a year as certain newspapers would have you believe. Based on predictions, your bill would go up to £72 per month (£964 per year) from £50.

Caveat: The figures are a little more complicated than I've outlined above because there's a standing charge you pay too. But, the rough numbers above are a good starting point. Here are the full figures from @ofgem ofgem.gov.uk/check-if-energy-price-cap-affects-you

2. Make sure you're on the right tariff Bills are going up but you can ease the strain by making sure you're on a tariff that suits your usage. For example, because I have an electric car, I have a cheaper overnight electricity rate and choose to only charge my car at night.

3. Send regular meter readings A lot of people are reluctant to do this because they think they'll end up spending more than they should, that's often not the case. Sending meter readings means you only pay for the energy you use and not for the energy your supplier estimates.

If you have a three-bed house but prefer to use a hot water bottle instead of putting the heating on, you'll use less energy than someone with a three-bed that cranks the radiator up. Your energy supplier doesn't know this. Without meter readings, they'll assume you're 'typical'.

4. Don't let suppliers talk you into upping your direct debit if you don't need it. If you pay a set £X per month and are getting into credit, you probably don't need to up your direct debit. Keep an eye on your usage and only up it if necessary once winter hits.

5. There are loads of cool apps that can help you track energy usage too. We use @loophomes and @equiwattuk here. Visibility into usage can help you make energy-saving decisions.

6. Your appliances might not be as efficient as you think. I'm not saying to replace all your appliances because that doesn't always make economic sense, but it's worth being aware of how appliance ratings work.

An old A-rated washing machine might now be rated F. This is because the tech has improved so much that all appliances are now so much more efficient. So just because everything was A-rated when you bought it, doesn't mean it's the most efficient now.

If something needs replacing, of course, replace it. But just being aware of inefficient appliances can help you change how you use them. For example, using a washing machine or dryer at a cheaper overnight rate only.

7. What to do if you can't pay your bills I know things look scary now and fuel poverty is a real problem in the UK. If you can't afford to pay your bills, take a look at this article to see what your options are. ofgem.gov.uk/information-consumers/energy-advice-households/getting-help-if-you-cant-afford-your-energy-bills