6 ways to save money on your energy bills

Saving money on your bills can make a major difference to your finances. Here are six tips we think could help you save money on your bills.

It sounds like an obvious first step, but it’s a very easy one to overlook. You may think that because you’re on a fixed rate tariff, there is no need to check your bills on a regular basis, however it’s important to be aware when your contract comes to an end.

At the end of your contract, your supplier automatically switches you to what is known as its Standard Variable Tariff or SVT. These rates are typically your suppliers most expensive tariffs (especially likely if you’re with one of the ‘big six’) and therefore you’re susceptible to experience a steep price hike. Even if you are with one of the lesser known suppliers, it is always in your best interest to check your bills and shop around for a cheaper rate.

With energy prices on the rise, now might not be the best time to switch. Find out more about why prices are risingon the Ofgem website.

We can still help you save - you can see what energy deals are available now or register your email here for a one-time email that'll tell you when you can start saving again.

If you’re paying for your energy every month via direct debit, the premise is that you pay the same amount every month, based on the assumption that you consume the same amount of energy all year round. But what about in summer months, when the heating goes off and the sun cream comes out?

Well, you typically spend less, and as a result, you are in an excellent position to speak with your supplier and ask for this money (that has accrued from not using the expected amount of energy) back. Remember though, this is only applicable to those users who have a credit balance on their account.

Sounds pretty obvious, right? Even the smallest of changes could add up to save you a significant sum of money over the course of a year. For example, simply by turning your thermostat down by 2 degrees in cooler months could lead to a saving of up to £200 a year.

Think about switching lights off in rooms you’re not in, putting your central heating on a timer, and so on. In this case, tiny changes to how you use your energy can lead to big savings on your household outgoings.

Wash your clothes at 30° degrees instead of 40° and if you do that for a year, you’ll see a difference in your bills too.

Another tip: replacing lightbulbs with the most energy efficient ones can be a bit pricey at first, but will save you electricity and money in the long run.

When you are thinking about how to save electricity at home, don’t forget that you can ask your supplier to give you a smart meter. It will help you see how much energy you are using in real time and better track usage. Many people find that this helps them cut out wastage by using certain appliances less.

When you need new appliances, look out for A+++ energy efficient appliances. A new A+++ fridge could save you over £100 a year versus your old inefficient one. Likewise, new boilers will be much more efficient – but they’re expensive so only look into this if your old boiler is on its last legs.

If you are thinking about insulation, installing a heat pump or a source of renewable energy (such as solar panels) don’t forget to see whether you can get a Green Homes Grant Scheme voucher.

We’ve already mentioned direct debit, but did you know that switching to this form of payment could save you money too? This is due to paperless billing, which would see you check your costs online, and could save you anything between £10-£30 a year. It’s also really easy to do: simply contact your supplier, who will conduct a credit check.

That’s right, for free! What you might not know is that some suppliers, including those that make up the big six, can offer loft and wall insulation that would normally cost up to £500, for free. However, you will need to contact your supplier to see if this is something that you could be eligible for.

By contacting your supplier, they will very easily be able to tell you whether you’re on their cheapest tariff or not. You may not need to switch suppliers at all, and one 10 minute phone call could save you a significant amount. It can sometimes be a bit of a hassle to get in contact with them, but by being clear on what you’re asking, you could save big.

If you're struggling with your payments, you may be able to arrange a payment plan with your provider. They should be sympathetic to your situation, and it's better to agree a new plan than to miss a payment.