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How to cut down the £700 energy bill increase with a £242 investment

The average household will now pay nearly £700 more for gas and electricity this year after the energy price cap rose to £1,971.

Traditionally, the quickest way to lower bills has been to look for a better deal from another provider. But that’s no longer possible, so households need to find more creative ways to lower their bills.

Rather than don a hair shirt and go celibate, there are some small investments around the home that can lower your costs — potentially offsetting the rise in the price cap overall.

Making all the changes below will cost £242, but will save you £953 on your energy bills per year – for a total saving of £711.

Even if the savings don’t outweigh your investments this year, these small changes will easily pay off. Finally, energy bills are expected to remain high into the 2030s.

This is how you save energy costs

draft

Spend £10 save £30 a year

Draft protection for your front door is one of the simplest and cheapest ways to reduce energy consumption. Draft dampers can cost as little as £10 and could save the average household £30 a year on heating bills, according to The Eco Experts, a comparison service.

Insulate your attic

Spend £100, save £180 a year

Installing attic insulation typically costs around £300 and pays for itself in a few years.

However, you can save hundreds of pounds by doing it yourself. Insulation costs around £20 for an 8m2 roll, so a typical attic would cost less than £100 in materials, according to My Builder, a handyman website.

https://www.telegraph.co.uk/money/consumer-affairs/how-save-money-help-energy-bills-household-bills-uk-2022/ How to cut down the £700 energy bill increase with a £242 investment

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