Understand your energy usage around the home and reduce your bills by up to 40%, says TescoCompare.com

Debra Williams, Tescocompare.com comments:
"Now that the recent series of energy price changes have come into effect there has never been a better time to review your energy supplier to see where savings can be made. However, consumers should also bear in mind that it isn’t always just a case of comparing the market and switching to a better tariff - significant savings to energy bills can be made simply by understanding how electricity is consumed.

There are now a number of inexpensive and easy to use gadgets available online and at High Street stores, or even through some of the energy suppliers direct, which measure how much power home appliances use up. Consumers will probably be surprised at the gadgets around the home that cost them the most – and the least – and will certainly see how they can save money on their bills.

People normally assume that it’s the big electrical items in the home such as plasma televisions and computers that burn the most electricity, but in actual fact its smaller devices that consume the most energy. For instance, heated towel rails cost around £10 per month to heat whilst leaving the coffee machine on standby will add another around £10 on your monthly electricity bill.

Wireless electricity monitors can be bought from a number of electrical shops online and on the High Street for as little as £30-£50 and some energy providers are currently giving similar devices away for free. E.ON offers customers on its Energy Saver v8 tariff a free monitor, plus customers earn Clubcard points on their energy bill, and British Gas provides customers on its Web Saver 2 deal monitoring software to help you understand your energy usage.

It’s easy to use large amounts of energy without even realising it so these gadgets are well worth the money if you are looking for ways to reduce your monthly electricity bill."

Tescocompare.com’s team tested E.on’s gadget for a number of weeks and were astonished at the results. We now know the following:

• Lighting makes up nearly 40 per cent of the energy bill
• Leaving the coffee machine on standby costs about £10 per month
• Heated towels rails cost as much as £10 per month to keep running
• Overall monthly saving = £30

The monitor was installed in a matter of minutes, by clipping a sensor around the electric wire that connects the electricity meter to the fuse box. The separate display device, which can be placed anywhere in the house, displays the usage in real-time.

Other ways to reduce your electricity bill:

Make sure you don’t overpay
Consumers who pay by Direct Debit should take an up to date meter reading and ask your supplier to adjust your direct debit amounts for the summer months ahead, when you will be using less electricity. By adjusting your Direct Debit at this time of year you can save 10 per cent. If you have already run up a credit of £150 or more, ask for your money back – this is your right as a consumer.

Manage your account online
Consider opting to manage your energy account online. Energy suppliers have improved their websites, making them much simpler and straightforward to use. There are also interactive tools to arm you with a better understanding of your energy usage. Customers should ensure they regularly log in and provide accurate meter readings.

Get in quick
Deals and tariffs tend to be available on a first come, first served basis, and the market is constantly changing - so if you see a good deal, snap it up - it might not be around for long. And don’t be afraid to fix. Suppliers tend to charge a penalty if you leave before the end of your agreed fixed period, but this is usually £30 or thereabouts. Weigh up how much you are due to save by switching to another provider – it’s usually more than this penalty fee.

Visit www.tescocompare.com to see how much you could save by switching energy provider.

For more information, please contact:
Liz Willder
Tesco Compare
01737 776 826 / 07825 115 983
liz.willder@tescopf.com

Alison Merrigan / Louise Marriott
Lansons Communications
020 7294 3634 / 020 7294 3654
tescocompare@lansons.com

Notes to Editors:
Tescocompare.com offers price comparison services on the following products:

Car Insurance
Van Insurance
Home Insurance
Motorbike Insurance
Small business insurance
Life Insurance
Mortgages
Gas and Electricity suppliers
Credit Cards and Unsecured Personal Loans

Tesco Compare is part of the Tesco Personal Finance Group, the financial services arm of the UK’s number one supermarket chain, which is fully owned by Tesco plc.

Tesco Personal Finance Compare Limited. Registered in Scotland No.318925. Interpoint Building, 22 Haymarket Yards, Edinburgh EH12 5BH. Authorised and regulated by the Financial Services Authority.