What does the October energy price cap rise mean for you, and how can you reduce your energy cost with a new boiler?

Did you know the energy price is rising by 82% in October 2022? Therefore, the average energy bill could shoot up to an astronomical £3,582! According to a new report from the government, records show this is the highest increase since Ofgem introduced the energy price cap in 2016.

The price hike will affect all households in the UK, and of course, this news has caused quite a stir, with many people wondering what it means for them and their families.

Octobers energy price cap rise means that households across the country will see an increase in their energy bills. The average gas bill will rise by £117, and the average electricity bill will go up by £64. Hence this is the second time energy prices have risen this year, and further increases will happen in the future.

What's the next step?

So, what energy-saving tips can we do to prevent bills from increasing more than they should? For starters, we'll all have to start being much more careful about how we use energy in our homes. We'll have to start making sure that we're only using appliances when we need them and making sure that we're turning off lights and electronics when we're not using them. In other words, we'll have to start being much more energy-efficient. Additionally, it might be a good idea to start shopping for a new energy supplier now to ensure you get the best deal possible.

In this crisis, a popular option to save on your bills is ensuring you have the latest high-quality boiler installed. Boilers are one of the essential equipment pieces in your home, yet taken for granted. Most people don’t think about their boiler until there’s a problem. Still, upgrading to a new, modern boiler can significantly impact your wallet, especially now the increase in bills will soon be upon us.

Old Boilers

An old boiler increases your energy costs and can cause your home to lose out on valuable heat. As boilers age, over time, they begin depreciating in efficiency, meaning they have to work harder to pump heat through the central heating system throughout your home. Not only will this cost you more money, but it also means that your home loses heat faster than usual.

If your home has a boiler over 15 years old, you may want to contact your energy suppliers and start budgeting for a replacement. While boilers can last numerous years, they have a limited lifespan, and as they age, they become more prone to problems. Not only can this lead to costly repairs, but it can also cause disruptions to your heating and hot water and increase carbon emissions.

New Boilers

In 2022, modern boilers have fused with technology allowing them to have different features that can save you money. For example, some boilers have built-in timers that help you track when you want your boiler on and off. As a result, this can help manage your energy usage and avoid costly heating bills. Additionally, many modern boilers come with thermostats that allow you to set a specific temperature for your home. Therefore you won't have to waste energy heating your home to a higher temperature than necessary. Lastly, some boilers come with 'low-energy' settings that can help to reduce your energy consumption even further. By taking advantage of these money-saving features, you can ensure that your boiler saves you money instead of taking it.

Not only has technology for boilers changed, but boilers alone are more energy-efficient than ever before. You can save money on heating bills, save energy and reduce your carbon footprint by upgrading from an old, inefficient boiler to a new top-of-the-range boiler. Oh, and did I mention you can save up to £340 annually?

With energy prices predicted to rise in the coming years, now is the perfect time to upgrade. So if you’re looking to save money on your energy bills, consider looking on the energy market and upgrading to a new boiler today.

Conclusion

Of course, none of us are happy to hear about this news. No one wants to see energy costs skyrocket out of their control. However, it's important to remember that we imagine this rise as only temporary. Then hopefully, the energy price cap will eventually go down and return to normal. In the meantime, we must be smart about how we use energy in our homes. To find out how to use energy more efficiently in your home reach out to us at PlumbCall. Our registered engineers have more than 35 years of experience in the heating business and will be more than happy to help.