Saving money news
See the light - turn it off
23 October, 2006
In the run-up to Energy Saving Week (23 – 29 October), 9.4 million people admit avoiding action to become more energy efficient.
Research from moneysupermarket.com reveals leaving appliances on standby or charge can use as much as 60 per cent of the electricity as used by the device when switched on.
However, despite knowing appliances use power whilst in standby mode, more than four in 10 adults admit they always leave appliances on standby or never switch them off at the wall socket.
The research also highlights there is widespread apathy towards saving energy, with people believing responsibility for being energy efficient does not lie with them.
Almost three quarters of the population think manufacturers should be responsible for providing energy-efficient products to the consumer. A further 53 per cent believe the Government should be forcing manufacturers to help us become green.
As well as being more conscientious about switching off appliances, people should consider swapping to a green energy supplier to help do their bit for the environment and save money on their energy bills.
Currently just four per cent of Brits have switched to a green electricity supplier and nearly half of people saying it is too costly to invest in green energy saving products.
However, green fuel tariffs from the “big six” providers are particularly competitive. For example, a customer on British Gas could save £116 per year just by switching to the ‘green’ British Gas Click Energy tariff for their electricity – currently the best deal on the market.
Alternatively, a British Gas customer switching to green-only provider Ecotricity could save £65 per year. Ecotricity also promise to match the standard price of your regional supplier.
Start saving money on your gas and electric
Paul Schofield, head of utilities at moneysupermarket.com, said: “The ‘big six’ energy providers have introduced over a dozen price hikes so far this year, and, as a result, green electricity tariffs are now more in-line with standard ‘non-green’ deals.
“Global warming is a problem that isn’t going to go away, and as a nation we all need to take responsibility for saving energy to help the environment. At present there are voluntary codes which encourage manufacturers to raise efficiency standards, but consumers should also take more responsibility. Being energy efficient doesn’t mean taking drastic action such as installing a wind turbine in the garden; it can be as simple as switching appliances off fully instead of leaving them on standby or swapping to a green electricity supplier. Not only could you be saving the environment, but saving money on energy bills as well.”
Top Energy Saving Tips
• Invest in a lagging jacket for your hot water tank and insulate pipes – this will pay for itself in a few months with the money saved.
• Turning your thermostat down by 1°C could cut your heating bills by up to 10 per cent. And if you're going away for winter, leave the thermostat on a low setting to provide protection from freezing at minimum cost. This can save about £30 per year.
• Replace light bulbs with energy saving versions: just one can reduce your lighting costs by up to £78 over the lifetime of the bulb.
• Is your hot water too hot? For most, setting the thermostat at 60°C/140°F is fine for bathing.
• Don’t leave the fridge door open longer than necessary and defrost freezers regularly.
• When cooking leave saucepan lids on as this will allow you to turn down the heat.
• Don’t use more water than you need when boiling a kettle as it takes much more electricity to boil a full kettle each time than just enough water for a cuppa or two. For those willing to spend money to save money, loft insulation is a great investment. Up to 25 per cent of heat loss occurs through lofts that are not insulated. Cavity wall insulation can also prove to be a big money saver. Insulation can save up to 35 per cent of heat loss through walls.
• Consider the ‘Economy 7’ energy tariff. This has different pricing structures based on the night and day with energy used at night costing less than the energy used during the day. This allows you to heat your water and storage heater during the night – but be wary you need to use 20 per cent of your heat consumption at night to make a saving.
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