State pensioners can get £380 if they spend £1.40 | Personal Finance | Finance
Households can save hundreds of pounds per year by implementing a few simple energy-saving measures. One such tip costs just £1.40 but can help boost the efficiency of your radiator.
These tips are especially welcome as households face another energy price cap hike this week, with bills set to rise by around 10 percent for the next three months.
The increase will bring the average annual energy bill for a typical dual-fuel household to £1,717.
With the Government tightening eligibility for the Department for Work and Pensions (DWP) Winter Fuel Allowance, these savings could also help state pensioners who are newly excluded from the benefit recover some of the lost income.
By following 10 simple energy-saving steps, households could save up to £380 a year, the Mirror reports.
Domestic energy bills are set to drop by one percent in January, providing slight relief for households. Contrary to previous forecasts, energy consultancy Cornwall Insight estimates the typical annual bill will decrease to £1,697 from January 1.
It said a combination of the EU meeting its gas storage targets ahead of winter, strong global LNG supply outlooks, and improved confidence regarding gas and electricity imports ahead of winter had resulted in wholesale market prices falling.
Craig Lowrey, principal consultant at Cornwall Insight, said: “While households will have to endure a rise in the cap from October, our current forecasts suggest that this is a temporary blip.”
However, he noted: “January to March, typically some of the coldest months of the year, often bring with them the biggest energy bills and, while our latest forecast is welcome news, it remains subject to the volatile wholesale gas and electricity markets.
“There remains a further six weeks or so for the wholesale market to influence our forecasts, and while the negligible quarter-on-quarter drop is welcome, it must be remembered that bills will still remain hundreds of pounds above historic levels.”
