Martin Lewis, known for his expertise in personal finance, has issued a cautionary advice on the major energy consumers in households and ways to mitigate their impact.
In a recent BBC Radio 5 podcast, Mr. Lewis shared insights as energy bills surge with the onset of cooler weather. According to a survey by Uswitch, households are commencing winter with a collective energy debt of £780 million, the highest in eight years. The survey revealed that approximately 3.5 million households owe money to their energy providers, marking a significant 46% increase from last year’s 2.4 million.
Mr. Lewis highlighted the tumble dryer as a costly appliance, costing around £1 per cycle. He recommended reducing its usage by air-drying clothes or utilizing dehumidifiers to extract moisture from the air more efficiently and economically.
During the podcast, a listener named Rob raised concerns about dampness in his flat from indoor laundry drying. Mr. Lewis advised that using a dehumidifier could be a cost-effective solution compared to using heating to combat dampness.
Another energy-saving tip Mr. Lewis shared was the use of reflective panels behind radiators to prevent heat loss through walls. He mentioned that a roll of radiator heat reflector foil, available at Screwfix, could be purchased at a discounted rate.
Additionally, Mr. Lewis suggested turning off radiators in unused rooms, adjusting boiler flow rates to cut gas bills, and ensuring TVs are set to low energy consumption mode. He emphasized the importance of identifying and sealing drafts in homes for better energy efficiency.
The Uswitch survey highlighted a 29% increase in average household debt, with many households lacking sufficient credit reserves to manage higher winter bills. Ofgem’s data indicated a substantial rise in customer debts owed to energy suppliers, underscoring the financial strain on households.
Ben Gallizzi, Uswitch’s energy spokesman, expressed concerns over the escalating household energy debt, emphasizing the importance of maintaining a buffer of energy credit for winter months. He advised households facing financial challenges to engage with their energy suppliers promptly to address any outstanding bills.