UK energy price cap falls - but households still need to be smart about saving on heating
London, 23.02.2024 – People are being warned to use the drop in energy bills announced today to protect themselves from future price hikes after smart thermostat users saved themselves almost £500 over the past two years.
Ofgem has set the price cap for the typical dual-fuel household to £1,690 a year from April 1, a drop of about 12 per cent and the lowest it has been for two years.
But while the fall will ease the pressure on household bills, home energy management company tado° is advising people they should use the ‘savings’ to ensure they are not hit hard next time prices rise.
Research by tado° reveals that households who invested in its smart thermostats before prices began to spike in early 2022 would have saved almost £500[1].
Christian Deilmann, tado’s Co-founder and CPO, said: “The drop in energy prices is very welcome news but the past two years have shown how vulnerable normal families are to sudden changes in pricing and events that are beyond their control.
“The new price cap of £1,690 will still be almost a third more than it was during winter 2021-22 and it is doubtful we will see prices as low as two years ago anytime soon.
“tado° customers save, on average, 22 per cent on their heating costs. That means if someone had installed our smart thermostat and smart radiator thermostats before the price shocks in early 2022, then they would have saved up to £470 so far – easily paying back the outlay after a few months.
“While we hope prices continue this downward trend, people should take advantage of these savings and invest in measures that will offer them protection for when the price cap inevitably rises again.”
tado°’s smart thermostats and cutting edge software offers features such as geofencing, which automatically turns off the heating when nobody is home, Open Window Detection, Weather Adaptation and Smart Schedules, meaning that energy usage in the home is never wasted.
tado°’s Smart Thermostats can be installed by anyone at home, guided by a step-by-step online manual in less than 30 minutes. With wired and wireless options, smart thermostats can be installed in over 95% of homes across Europe. Any radiator with an existing thermostatic radiator valve can be upgraded to a smart energy saving radiator by simply screwing in a new Smart Radiator Thermostat from tado°.
tado°’s top tips to save on heating costs during winter
- Choose the right temperature: The room temperature should be kept at an appropriate level in the different living areas. The recommended temperatures between 18 and 21 degrees C in living rooms and bedrooms and around 22 degrees in bathrooms. Temperatures can be lowered at night or when no one is home.
- Programmable thermostats: Investing in programmable thermostats is worth it. They automatically regulate the heating according to a set schedule, while tado°’s devices offer extra savings through turning down the heating when you leave your home or turning it off if it detects a window has been opened.
- Window sealing: To avoid energy losses, the sealing of doors and windows should be checked for gaps and then repaired if necessary.
- Thermal insulation: When the roof, walls and windows are well insulated, heat loss is minimised. The heat cannot escape to the outside and cold air cannot penetrate.
- Proper ventilation: It is advisable to ventilate the rooms regularly but briefly and efficiently. Shock ventilation, i.e. opening the windows wide for a few minutes, is better than windows left permanently open.
- Close doors: Not all rooms in a home are heated equally. Therefore, to save on heating costs, it makes sense to close the doors otherwise the cold air from the cooler rooms drags down the temperature in the warmer ones.
- Bleed radiators regularly: Air in the radiators can hinder heat transfer.
- Do not cover radiators: There should be no furniture or curtains in front of the radiators as these hinder the heat emission.
Use solar energy the smart way: During the day, when the sun is shining, it is worth opening the curtains to passively use solar heat. To retain warmth, the curtains should be kept closed at night.
About tado°
tado° is the European leader in intelligent home climate management and provider of energy management solutions for residential buildings. As the only cross-manufacturer platform, tado° Smart Thermostats and services connect with any kind of heating or cooling system. Customers benefit from energy-saving technology such as Geofencing and Open Window Detection as well as dynamic energy offerings. Founded in Munich, 2011, and with 200 employees, tado° reshapes the way energy is consumed for more comfort, savings, and in sync with nature. www.tado.com
Citations
[1] The figure of £471 savings is based on the Government estimate that the average gas bill for the years 2022 and 2023 was £2,462. Based on an estimated 95 per cent usage for heating and hot water, savings of 22% equate to £471.69.
Press contact
press@tado.com
Sapporrobogen 6-8
80637, Munich