The energy price cap is to increase from October to an average of £3,549 a year, up more than 80 percent from the current £1,971. Energy consultancy Auxilione estimates that the Ofgem price cap could hit £7,700 from April, amounting to more than £5,700 a year than the average home pays today.
There are also soaring prices for other everyday essentials, with inflation predicted to hit 13.3 percent in October, leaving many consumers already feeling a major squeeze on their budget.
Phil Foster, CEO of Love Energy Savings, has spoken to Express.co.uk about what Britons can do to reduce their energy costs.
He said: “With energy bills at an all time high and set to increase further in October, there has never been a more important time to take steps to try to offset the increased costs.
“There are things you can implement now into your home which will reduce your gas bill in the winter.”
Bleed your radiators
Radiators should be checked regularly for faults, to make sure they are working at maximum efficiency.
“If air is trapped in your radiators it will mean your heating system won’t work as efficiently as possible, wasting energy”, Mr Foster said.
“Bleed them now in order to reap the benefits when the heating is turned back on this winter.”
Other tips to get the most out of radiators include not placing furniture near them and to avoid draping too many clothes over them, as this can actually make the property colder.
Install a smart meter
The Government has called on energy suppliers to offer everyone in the UK a smart meter by the year 2024.
Mr Foster said: “A smart meter is a new kind of meter for your gas or electricity. You might be familiar with taking traditional meter readings.
“Usually, you need to go somewhere dirty, or peer into a hatch. A smart meter takes your readings automatically. Then, it sends those readings to both you and your energy supplier.”
The supplier gets more frequent and accurate readings, while the consumer gets a better picture of how much energy they are using
Mr Foster said: “Fundamentally, smart meters are designed to save you money.
“Suppliers will provide your smart meter free of charge, so start the process of reaching out to them for one now, to ensure it’s up and running by winter when you can make savings on your bills.”
Go for energy efficient appliances
Buying the most energy efficient appliance may be more expensive than other options, but Mr Foster said it’s well worth the investment.
He said: “If you’re shopping for a new household appliance, keep in mind investing in an energy efficient device.
“While devices such as washing machines and dishwashers with an A energy rating may cost more now, you’ll make the money back in no time through energy savings.”
Turn devices off standby
People often leave television and other devices on standby, but this will needlessly use up electricity.
Mr Foster said: “Items left on standby are continuing to drain electricity, so get into the habit of turning items off at the wall.
“If you don’t think you’ll remember to keep doing this, invest in some smart plugs, which will turn items off if they’re not being used.”