Households can save over £800 a year on gas bills with DIY heating hack | Personal Finance | Finance
Secondary glazing is a process of adding another layer of glazing to a window. This is usually installed on the inside of the primary window to reduce heat loss and also cuts noise pollution.
Adding another layer of glazing can help improve the thermal insulation of a property, reducing draughts and cold spots in a room.
Renters may find it an ideal way to improve the energy efficiency of their home if they are not allowed to make changes to their windows.
Research from Cut Plastic Sheeting found a household could reduce their gas bill by £806.14 with the DIY hack.
This works out at around £67 a month, making a huge saving on current gas bills, with average yearly bills currently at £1,343.58.
READ MORE: Are you eligible for free NHS prescriptions? Full list of qualifying conditions
The guarantee is increasing in April with average bills to go up to £3,000 a year, lasting for a year from then.
However, analysis from Cornwall Insight found energy bills could fall below the price guarantee, from around July.
According to figures from the group, electricity default tariff cap costs are expected to fall from April 2023’s forecasted £1,725.51 to £1,243.91 a year, while gas is expected to drop from £1,819.80 to £1,556.26 a year, bringing total forecasted average bills to £2,800.16 a year from July to September.
Wholesale energy prices are dropping at the moment but the effects of this won’t be felt for around six months as energy suppliers buy energy in advance to cope with demand.
READ MORE: Mum-of-five turns side hustle into full-time job making £70,000 a year
Dr Craig Lowrey, principal consultant at Cornwall Insight, explained: “This means falling day-to-day wholesale prices (spot prices) have a limited impact in the short-term.”
Energy prices are expected to go up only slightly heading into the fourth quarter of the year, from October to December, as the analysts predict electricity default tariff cap costs will increase to £1,308.02 a year, but gas will lower again in price to £1,527.14. This brings the total forecasted average bills to £2,835.16 a year.
Commenting on the forecast, Dr Lowrey said: “While it is positive to see a drop in the price cap forecast, household bills are set to remain high.
“With the energy price guarantee rising in April, the second half of the year will still see a typical household facing bills that are well above historic levels and facing costs that many can ill afford.”
The energy prices expert also said: “The cap’s fall below the threshold of the EPG will, if wholesale prices continue at this level, effectively see the scheme no longer costing the Government.
“We must remain cautious as the Government has essentially been underwriting a volatile wholesale energy market – one which is likely to remain unstable throughout the year.
“Even if energy prices continue at current levels – which is a big if – the costs to the Government over the full period of the EPG are still contributing to Government borrowing and will ultimately fall at the feet of consumers in the form of higher taxes.”
A spokesperson from the Department for Business, Energy, and Industrial Strategy (BEIS) told Express.co.uk: “We know it is a difficult time for families across the country.
“That is why we have acted swiftly to provide support, including the energy price guarantee, which is saving the typical household around £900 this winter, as well as £400 payments towards bills and £1,200 for the most vulnerable households.
“We also recently launched a new campaign, ‘It All Adds Up’, which will help families reduce their energy bills.”
