Energy prices are a currently a hot topic. Many household budgets are getting squeezed, forcing people to cut back on other expenditures and search for ways to reduce their energy consumption.
It’s wise to consider ways to reduce your energy consumption, as the negative environmental impact can be lessened the more we change our habits. And equally important is the impact on the annual cost of gas and electricity. But, why are bills so high at the moment?
Here are some of the main reasons for recent price hikes.
1. Higher Energy Prices
The most obvious reason is your supplier has increased the cost of energy. You can calculate the difference by comparing your current bill with previous ones. You can also compare the energy prices with other companies and you may be able to get a better deal elsewhere.
2. Increase in Energy Usage
Sometimes we forget how much energy certain appliances consume. Have you purchased a new refrigerator, washing machine, or cooker? Larger appliances consume more energy than smaller electronic items. Always ensure you purchase appliances with a high energy efficiency rating, to help lower the cost of your bills.
3. Energy Loss
Your home may be losing heat too easily. If your windows aren’t double, or triple glazed, or your roof, walls, and floors don’t have adequate insulation, this will cause your energy consumption to surge. It may be wise to invest in addressing these issues and over time your bills may gradually decrease.
4. Price Usage Estimates
Sometimes energy companies base their energy costs around the estimated usage of the consumers. Therefore, these calculations may be inaccurate, leading to higher prices. Always look at your meter readings and ensure you are getting charged fairly.
5. Your home has a low EPC rating
How energy efficient is your home? The only way to know is to have your home inspected, and assigned an EPC (Energy Performance Certificate) rating.
An assessment will be made in regards to how insulated your home is; whether you have double glazing; and the lighting system and condition of your boiler are taken into account. You will also be given suggestions for improvements that will benefit both the environment and your overall energy costs.
You may feel the escalating cost of energy bills is out of your control; however, if you assess how energy efficient your home is, you may find there’s much room for improvement.