Saving money news
People favour extra jumpers over central heating due to soaring costs
30 October, 2006
People are delaying turning on their heating as winter approaches, preferring to layer on extra clothes to save money on their energy bills.
New research from moneysupermarket.com reveals over half the population are postponing turning their heating on or don’t want to put the heating on due to worries about increasing heating costs.
The raft of recent price hikes have left so many people worried about the cost of energy bills that nearly two-thirds say they would rather put on extra clothes to keep themselves warm at home than use the heating.
Almost 80 per cent of those who have delayed putting on their heating are so worried about heating costs that they will be wrapping up warmer rather than turning on the heating.
Switch to a cheaper gas and electricity supplier here
The table below shows the ‘Jumper Rating’ for the big six providers – advising people which providers’ standard tariffs are the most expensive.
'Jumper Rating' of gas and electricity companies
British Gas has the highest ‘Jumper Rating’ with an average yearly bill of £1,055.77. A standard British Gas tariff customer could save an average of £144.38 a year by swapping to Scottish power – the cheapest provider with the lowest ‘Jumper Rating’.
Paul Schofield, head of utilities at moneysupermarket.com, said: “It is clear that people are worried about their energy bills, particularly in light of the utilities companies putting prices up so frequently this year. It’s concerning the public is being deterred from turning on their heating, particularly the old and vulnerable.
“Others however, may have been lulled into a false sense of security by the talk of falling wholesale gas prices, yet it is still not certain when or whether the impact from falling wholesale gas prices will be passed onto them if at all. With this in mind, I would urge people to take into account moneysupermarket.com’s ‘jumper rating’ and opt for a cheaper provider for their energy bills for the upcoming winter months – and by switching people can save over £100.”
Switch to a cheaper gas and electricity supplier here
Five top tips for a winter heating MOT:
• Get your central heating serviced. Some gas and electricity suppliers now offer home energy checks in which they offer impartial advice on how to save up to £250 per year.
• 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.
• 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.
• 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. To eliminate draughts and wasted heat use an easy-to-fix brush or PVC seal on your exterior doors and fill gaps in floorboards and skirting boards.
• 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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