GOOD ENERGY
Lidl is selling a simple £8 gadget that can slash energy bills by £100s
Discover the easy way you could cut your bills this winter
THOSE concerned about their bills this winter can pick up a simple £7.99 gadget that could slash energy costs by hundreds of pounds.
With Brits facing high energy prices and millions of pensioners missing out on the winter fuel payment, many are looking for help with managing costs this year.
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Lidl may have the answer thanks to a plug-in power meter that measures how much energy your appliances are really using.
The £7.99 power meter will measure usage and calculate costs according to your energy tariff and is available in store from Sunday November 10.
It works like a second plug - you slot it into your socket, and then plug your appliance into it.
You can use it for any appliance you plug in, including televisions, freezers, washing machines and dryers.
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The information it provides can help households identify which devices are guzzling energy allowing them to change habits to cut their bills.
To take a read simply plug the monitor into the socket, set the unit price and plug in your appliance before using it as normal to see how much energy it uses in a typical day.
Consumer champion Which? said: "Using an energy monitor is one of the best ways to clearly ascertain how much electricity you're using on individual appliances — hopefully helping you to work out where money can be saved in the long run."
Low Energy Supermarket estimates that a plug-in power monitor will help you to discover savings of £200 per year.
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When selecting a power meter always remember to compare statistics and prices, to ensure you're getting the best deal.
This can be done using comparison tools such as trolley.co.uk.
A quick internet search showed that Screwfix has a similar model for £18.99 and Amazon is selling a range of devices available for around £10.
Power meters will only measure the energy used from one plug socket, so if you want to know the total amount of energy you're using around the house you may want to install a smart meter.
But, the benefit of a power meter is that it can help you quickly identify which appliances are using the most power.
What is the energy price cap?
A dad-of-two went around every room in his house using the device to see how much his appliances cost to run - and was shocked by the results.
The biggest cost drain was his old freezer, which was costing him around 68p a day to run - amounting to a whopping £250 a year.
With everything he learned he was able to make some changes and save a whopping £750 a year.
It is worth remembering that the energy price cap was considerably higher at that time, so savings are unlikely to be as high now.
The energy price cap is currently £1,568, the lowest figure in two years.
The cap is calculated based on the wholesale price of gas and electricity and what Ofgem thinks an average household will use.
Other ways to monitor energy usage
Smart plugs aren't the only way to keep track of your energy usage.
Getting a smart meter installed can also help track how much you're spending on gas and electricity.
These are different to smart plugs as they look at energy usage around the whole home rather than for each device.
The actual smart meter sends the readings to your supplier so you don't have to, while the in-home display screen shows you how much you're spending.
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Most energy suppliers provide smart meters and displays for free. However, some users have reported issues with their devices, for example when changing providers.
Your supplier should be able to answer any questions you have.
How do I calculate my energy bill?
BELOW we reveal how you can calculate your own energy bill.
To calculate how much you pay for your energy bill, you must find out your unit rate for gas and electricity and the standing charge for each fuel type.
The unit rate will usually be shown on your bill in p/kWh.The standing charge is a daily charge that is paid 365 days of the year - irrespective of whether or not you use any gas or electricity.
You will then need to note down your own annual energy usage from a previous bill.
Once you have these details, you can work out your gas and electricity costs separately.
Multiply your usage in kWh by the unit rate cost in p/kWh for the corresponding fuel type - this will give you your usage costs.
You'll then need to multiply each standing charge by 365 and add this figure to the totals for your usage - this will then give you your annual costs.
Divide this figure by 12, and you'll be able to determine how much you should expect to pay each month from April 1.
Do you have a money problem that needs sorting? Get in touch by emailing [email protected].
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