Millions of households across the UK will see an increase in energy bills from January – but for those looking to save money an expert has advised buying a certain item for as little as £20 that can reportedly cut bills by £200.
Andy Simms, an expert from MyBuilder.com, has recommended several ways people can save money on their bills this winter. It comes after industry regulator Ofgem confirmed a rise in gas and electricity costs, with the quarterly price cap set to increase by 0.2% per year for the average annual dual-fuel energy bill.
Andy Simms said: « The reality is there is no substitute for proper measures taken in your home to improve its efficiency, for example installing adequate insulation or replacing single glazed windows or drafty frames.
« However, there are some really simple hacks that will make a difference without breaking the bank. We’d always advise to plan ahead and improve your home in the most substantial way possible – but every little counts when the energy prices just keep rising. »
The expert recommends buying a water cylinder jacket for just £20. The insulating cover wraps around a hot water tank and reduces heat loss.
It helps trap heat which keeps the water hotter for longer. This means your boiler doesn’t have to work as hard, improving efficiency and cutting bills by up to £200 a year.
MyBuilder.com added: « If you wanted to go even further, you could also insulate any external pipes to and from the boiler for a similar amount. If you install a jacket you can reduce heat loss by over 75%, saving up to £200 per year (based on the recent energy prices). »
The average annual dual fuel energy bill will rise from £1,755 to £1,758 between January and March.
Ofgem said: « From 1 January to 31 March 2026 there will be a small monthly increase of 28 pence on the price of energy for a typical household who use electricity and gas and pay by Direct Debit. »
The news is yet another financial blow for Brits who have only recently turned on their heating due to the sudden drop in temperatures.
The daily standing charge on a standard variable tariff is 54.75p per day. Ofgem said wholesale prices were currently stable but conditions remain « volatile ».
Bills are expected to remain around 50% higher this winter in comparison to before the war in Ukraine began. Russia’s invasion caused energy prices to surge and the cost of living to rise.
