With another tough winter for energy bills on its way, now is the time to look at how to use less gas and electricity in your home.
For many, bills are likely to be more expensive they were last winter because they Government hasn’t introduced another £400 energy bills grant. If you’re struggling with your finances, look at our help with gas and electricity bills guide.
At present, there are very few deals that compete with the rate of the next price cap, and none that can better those that have been predicted for later in 2024. Our energy comparison piece can help you to decide whether you should stick or switch.
But how much does it cost to run the appliances in your home? Look After My Bills has produced an energy cost calculator that will showing you typical costs under the existing Ofgem price cap (1 October to 31 December 2023). Our new tool will enable you to make informed decisions about how to cut your energy use.
The Look After My Bills appliance cost calculator
To use the calculator, click on the dropdown menu to see the list of appliances you can get an average cost for. You can either choose one appliance or scroll further down to select another if you’d like to compare costs. If you then toggle how long you’d typically have the appliance or appliances on for using the sliding scale, you will get an estimated average cost for both appliances (it’s not an exact science as rates vary per region, but it should give you a good indication).
How much does energy cost?
As well as having a play on our calculator, we thought it would be helpful to run you through what energy prices currently look like.
The majority of households are sitting on the Ofgem energy price cap. The exact unit rate you will pay under the cap depends on where you live and what kind of meter you have. Your final bill is also determined by your usage and the type of property you live in.
Under the current cap, the energy regulator says energy bills would cost around £1,834 a year for the average dual-fuel household paying via direct debit. The next Ofgem cap, which kicks in in January, is higher at £1,928 a year due to a surge in wholesale prices in October and early November. Here are the average unit rates you pay now, and what they’ll be in the new year:
|Current energy price cap rates from 1 October to 31 December 2023||New energy price cap rates from 1 January to 31 March 2023|
|Gas||Unit rate: 6.89p per kWh. Standing charge: 29.62p per day||Unit rate: 7.42p per kilowatt hour (kWh). Standing charge: 29.60p per day|
|Electricity||Unit rate: 27.35p per kWh. Standing charge: 53.37p per day||Unit rate: 28.62p per kWh. Standing charge: 53.35p per day|
Why use our energy cost calculator?
If you’re as interested in energy bills as we are, this calculator is a great tool with which to feed your curiosity. But you can also use it to help you make informed decisions about how to save money on your gas and electricity costs.
What’s the difference in price between having your immersion heater on for an hour rather than two hours? Is it cheaper to switch on an electric heater for a couple of hours versus putting the central heating on for 30 minutes? How much will it cost you to switch on your Christmas lights for 3 hours per night later this year? You will be able to get answers to these questions, and so much more, with this calculator.
Using it can help to inform your buying decisions, too. For example, if your oven has packed in, you will be able to see how much an electric oven costs to run compared to a gas oven.
More energy saving tips
- Will energy prices go down in 2024?
- What is the best average room temperature?
- Heated airer or tumble dryer: which is cheaper to dry my washing?
For all the latest energy need-to-knows, see our gas and electricity deals page to see how you can save.