How to Minimise the Impact of Energy Price Rises

By Jamie Orr
Date 16/03/2022
how to minimise the impact of energy price rises

Energy prices are expected to go up by an average of £693 per household from April 2022 – an eye-watering increase of 54%. Now more than ever, households are looking for ways to minimise their energy use and stop that price rise hitting them hard.

Read on as we discuss what’s behind the price rise and how you can make things a little easier going forward.

What’s behind energy price rises?

The current energy crisis started at the tail end of 2021, when countries began to bounce back after the pandemic. A higher demand for energy couldn’t be met, causing wholesale gas prices to rise across the globe. Needless to say, a higher price for suppliers was passed onto customers – affecting anyone that wasn’t on a fixed-price tariff.

The impact was reduced by the energy price cap, which limited how much suppliers could charge. However, from April 2022, that too is rising, which is why such a large increase is expected. It’s also thought that the problem could worsen with supplies affected by the Russia-Ukraine conflict, with further hikes expected in October.

How can you minimise the impact?

Even the most optimistic person would struggle to see prices coming back down any time soon. Unfortunately, the usual advice of switching provider has also been ruled out for the foreseeable future.

Here are some other ways to minimise the impact energy price rises…

Small usage changes

It’s the age-old advice – use less energy. But we’re not talking about cutting things out altogether. Low temperatures can cause long-term issues for your house as well as your health. Instead, make small changes that won’t affect the way you live.

  • Turn the thermostat down by one degree if it’s still comfortable, as this can save upwards of £80
  • Make sure heating is turned off at night – the energy is wasted when you’re tucked up under a duvet, and could even make you too hot to sleep.
  • Upgrade to energy-efficient appliances whenever replacements are needed. It might cost a little more up front, but the savings will stack up over time.

Try renewable energy

With the price of fossil fuel energy rising, it’s only natural to consider the alternatives. While you can’t throw up a wind turbine in your back garden, there are some practical options like solar panels for electricity and heat pumps (ground source or air source) for heating. For the latter, the Government is offering grants of up to £5,000 through the Boiler Upgrade Scheme.

Insulation, insulation, insulation

Okay, it’s not quite the same as Tony Blair’s famous “education” line, but the point isn’t far off – insulation should be a top priority. By keeping heat inside your home, you won’t need to use as much energy to maintain a comfortable temperature. Loft or roof, windows and doors, and wall insulation are all important areas.

At CorkSol, we specialise in thermally efficient interior and exterior wall coatings that can help you keep more heat inside your home. Thanks to the natural properties of cork, our thin coatings are both breathable and moisture-resistant, so they’ll prevent damp and water ingress as well as reducing your heating bills by up to 15%.

If you’d like to find out more, don’t hesitate to contact our team today on 01484 442420 or [email protected].

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