With 22 million households facing drastically higher tariffs on gas and electricity, the cost of heating is a major concern for many.
From April, the average household on a dual fuel tariff will have to pay £693 more on their energy bills, bringing costs to £1,971 per year according to Ofgem. Soon, the situation could become even worse as the price cap is set to rise again in October while very few energy providers are offering fixed term contracts.
For most, there’s very little that can be done about the immediate increase in costs households will face, but for – those who are able to – a modest investment in improved insulation will reduce the amount you’ll have to pay in the years ahead, saving you money in the long run.
The energy crisis in a nutshell
Set up in 2019, the energy price cap sets a strict limit on how much energy providers can charge per unit of gas and electricity – and it is widely regarded to be one of the few true safeguards against ‘price gouging’ across the industry.
However, as of Friday April 1st, energy prices surged by 54% on average for everyone who isn’t still locked into a fixed term contract. This was driven by increases to the wholesale price of oil and gas, fuelled by increased demand in the aftermath of the pandemic, the effects of Russia’s invasion of Ukraine and long term underinvestment in power generation.
The news of “awful April” has been rife with heating ‘hacks’ and energy-saving tips, ranging from the smart to the strange, but they all have one thing in common: they all yield incremental improvements which are unlikely to have any major or immediate impact on your bills.
From turning off ‘vampire’ appliances to laundering your washing at night, most of these tips are impractical for everyone and the money they’ll save is a drop in the ocean compared to how far prices are rising. If you’re looking for ways to drastically reduce how much energy your household uses, the best thing you can do is supercharge your home’s insulation.
How much can insulation save on your heating bills?
Having effective insulation in your home can save you as much as £250 per year, according to The Renewable Energy Hub UK – and that calculation is based on the price of energy before the cap rise!
The more robust your insulation, the steeper your savings – and that’s something we can all get behind.
The value of investing in insulation is undeniable. In fact, recently 33 civil society groups including Greenpeace, Friends of the Earth, Save the Children and Age UK wrote to the prime minister, Boris Johnson, the chancellor of the exchequer, Rishi Sunak, and the business secretary, Kwasi Kwarteng, calling for £3.6bn worth of grants to ensure adequate insulation in all UK households. While only time will tell if this will become available, if you’re able to make a one-off investment in insulation now, you can immediately reduce the amount of energy you use now and long into the future.
Outstanding thermal efficiency
There are many types of insulation, but it’s worth noting that modern insulation is far more effective and lightweight than its traditional counterparts – meaning that in most cases, you can improve the energy efficiency of your home by installing it yourself – without the need to pay for costly labour.
While there are lots of insulation options available, few are as effective or as lightweight as multifoil insulation. The unique design comprises two outer layers of heavy-duty reflective foil with layers of foam wadding and foil between. Multifoil insulation both resists the passage of heat and reflects it back into the home, helping to keep your home warmer in the winter and cooler in the summer.
SuperFOIL multifoil insulation is also highly recommended for narrower and awkward spaces; this is due to its space saving, flexible design.
Multifoil insulation can be simply cut to size, stapled to the wall, roof or floor required with an airgap between, and you’ll start benefiting from a more energy efficient home that will see your energy, and your money, go much further.
You can also boost the performance of your central heating by fitting low-cost radiator reflectors (radpacks), which simply slide in and stick behind the radiators to direct warmth away from the walls and into your rooms.
With some simple insulation improvements, you’ll be able to dial the thermostat down and save money. For example, the cost of insulating a typical loft with multifoil can be as little as £2,000 and the product has a fifty year plus lifespan, meaning it could save you as much as £13,000 at current prices.
If you’re looking for a simple, affordable and immediate solution to bring your bills down and yield long-term results, look no further than multifoil insulation. Click here to learn more and start saving.
