With bills set to rise for many households this year, people are worried about saving money where they can. In fact, just this week, financial expert Martin Lewis warned that people should consider setting their gas and electric bills at double their current rates as average household bills are forecast to hit 5 £000 a year by January, up from just £1,200 a year recently. like 2021.
As a result, a savvy homeowner decided to buy himself an electricity consumption meter, reports Yorkshire Live. The device plugs into any wall and measures the amount of energy, and therefore money, used by any device in the house, even on standby.
He soon discovered that two devices in particular were adding huge amounts to his bills. Posting to the UKPersonalFinance subreddit, the poster said: “The current cost is based on Octopus’ capped rate of 29.58p per kwh. The projected cost assumes a 70% increase in October, although it appears that ‘it will be higher than that.’
He found that phone chargers actually cost very little even when plugged in, while “older devices” were expensive to run. Leaving an Apple phone charger plugged into the wall won’t cost anything at all, with the outlet successfully shutting off its power draw when not in use.
A microwave, however, costs around £27 a year just to display the clock, while a standby Sky Q TV box costs £48.46 on standby on October cost projections, or 60.79 £ to operate while recording, averaged over one year.
Another high cost was the Virgin Media wifi router, at £31.09 a year now or £52.86 on October price projections.
He said: “Contrary to popular belief, leaving a phone charger plugged in won’t end up killing penguins in Antarctica.
“Worth checking your old appliances, for me the microwave was an eye opener. I pay £16 (soon to be £27) a year just to have the thing show ’00:00′ on me all time.It’s now off at the wall when not in use.
“Sky TV…I wasn’t expecting more than 9 watts when it’s sitting there doing nothing. Both boxes are in ‘eco mode’.
“I’m considering having my broadband router and ethernet switch on a timer. A timer costs around £7 and would pay for itself in just over a month if it turned them off for 8 hours a day. I can also do with the Sky Boxes.”
Recently Ofgem announced that they would change the way they calculate things and increase the price cap every 3 months instead of every 6. This means that regular price increases will become even more common under the effects of Brexit , Covid and the ongoing Russian invasion. Ukraine continue to keep wholesale energy prices high (despite record profits from energy companies such as BP and Shell).
The latest forecast suggests the energy price cap will rise by 81% in October, bringing a typical bill to £3,582 a year.
A further 19% rise is expected in January, with average household bills set to rise to £5,038 in January. This would mean that a monthly energy bill would now cost you £571 per month for the energy consumption of an average household.