Did you know that one energy-saving light bulb could save you up to £7 a year?

The price of energy saving light bulbs has dropped dramatically in recent months. Some stores are now offering three for £1 in some cases.

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Did you know that, according to energywatch, the average household could save £37 a year by switching electrical appliances off instead of leaving them on standby?

Electrical goods actually use a fair amount of energy when left on standby so you can really knock down your energy bills by simply turning them off at the unit or at the wall.

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With the credit crunch hitting hard, you could benefit from taking some basic measures around your home to improve its energy efficiency.

For example, did you know that you could save around £20 a year just by insulating your hot water tank?

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There are substantial discounts to be gained by switching from offline to online financial products, plus you can do your bit for the environment too.

You could switch your gas and electricity tariff from a standard tariff to an online tariff and save money on your energy bills.

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One of the quickest and easiest ways to save some money is to compare gas and electric prices. In fact, the average saving to be made by switching gas and electricity suppliers is £202, with some customers set to save as much as £503.

You can take the hard work out of comparing energy companies at compareandsave.com by entering a few details into the 'compare gas and electric' form. The information you will enter will be about your current suppliers and how much you pay for your energy. This process will be a lot easier if you have some recent energy bills in front of you, but will work just as well if you know how much you pay per year for each type of energy you use.

Once you have entered in these details and hit the submit button, we will trawl the UK's main energy companies and find you alternative tariffs that match the details you have entered. The results will be displayed to you from cheapest to most expensive based on which ones will save you the most money compared to your current tariff.

The gas and electric comparison service is accredited to the energywatch Confidence Code. Energywatch is the industry consumer watchdog and its Confidence Code is given to comparison services which meet with all nine requirements of the code. If a comparison service is accredited, it means that the comparison results you are given are accurate and consistent.

Intrigued? Click the link and see how much you can save when you compare gas and electric
 

The news is currently full of stories about the ever-worsening credit crunch. Because of this we have come up with our at-a-glance guide to what is going on in the world of personal finance, how it will effect you and how you can reduce its effects.

Contents

1. Credit cards & loans
2. Savings
3. Mortgages
4. Tips to further reduce the effect of the credit crunch

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Earlier this week, Chancellor Alistair Darling announced the 2008 Budget.

Below we bring you what we think will be the five best and worst changes for you, the consumer:

Five of the best...

1. Energy companies should spend £150m on social tariffs
2. Increase in winter fuel payment to £250 for the over-60s and to £400 for the over-80s
3. “Savings Gateway” will be launched by the government in 2010
4. New Cash ISA tax-free savings allowance confirmed to be £3600 from April 5 2008 (the increase could have been a lot higher and so a change which ordinarily would have taken position 1 gets demoted to position 4)
5. £26m to go towards making homes greener

 
Five of the worst...

1. Increase in green tax charged on flights
2. 2p increase in fuel duty (but postponed until October 2008 – so instead of being in position 1, this change is in position 2 because it isn’t as bad with the six month delay)
3. 55p on a bottle of spirits
4. 14p on a bottle of wine
5. 4p added on a pint of beer

We’d love to hear your views on how the changes announced in the 2008 Budget will affect you, so please click on ‘Add comment’ to have your say.
 

Please note that your comment will need to be moderated by our team and so will not appear immediately.

In the last two weeks, both Npower and EDF Energy have increased their gas and electricity prices. Because of this, we thought you might like to know about a way of reducing your heating bills by better insulating your home. What’s even better is that, if you satisfy certain criteria, it won’t cost you a penny.

According to the Energy Savings Trust, a third of a home’s heat is lost through the walls. Cavity wall insulation can prevent this loss and save you around £90 a year on your heating bills. Loft insulation should add an extra £110 on average to this amount saved.

British Gas and Npower are offering free home insulation, worth about £600, to anyone over 70 and those on certain benefits.

What’s even better is that it doesn’t matter how much you earn and that you don’t need to be a current customer of either company. British Gas is running the initiative as part of the government’s carbon emissions reduction target (Cert) scheme. Both will offer cavity wall and loft insulation absolutely free of charge to every homeowner in the UK who is over 70 or on certain benefits.

Under the Cert scheme, energy companies are required to spend £1.5bn over the next three years on the installation of energy efficiency measures in the homes of the elderly and those on low incomes.

To qualify for the scheme you must be over 70 or in receipt of at least one of the following benefits:

• Council tax benefit

• Housing benefit

• Income support

• Income-based Jobseeker’s allowance

• Attendance allowance

• Disability living allowance

• War disablement pension which includes either mobility supplement or constant attendance allowance

• Disablement pension which includes constant attendance allowance

• State pension credit

• Child tax credit where the relevant annual household income is £14,600 or less

• Working tax credit where the relevant annual household income is £14,600 or less

The scheme is not just for homeowners. If you live in privately rented housing, and receive any of the above benefits, you can also apply as long as you have the landlord’s approval.

For further energy saving ideas please read our article: ‘Top tips to save you money on your energy bills’.

For additional information and to apply:

Ring British Gas on 0845 605 2535 and quote ‘JOU’

OR

Ring Npower on 0800 02 22 20
 

      1. Use energy saving light bulbs – there’s a bright idea

• They use up to 80% less electricity than a standard bulb = lower bills and lower CO2 emissions
• Produce as much light as a standard bulb
• Technological developments mean that the range of energy saving light bulbs on the market has dramatically increased in recent years. They now come in all shapes and sizes. You can even get halogen and dimmable ones.
• They last up to 10 times longer than standard bulbs
• They are a lot cheaper to buy than when they first came out with an average cost of £3
• One energy saving light bulb could save you up to £7 and 26kg of CO2 a year
• Look for the Energy Saving Recommended logo when you buy as it means they meet strict energy efficiency criteria specified by the Energy Saving Trust

      2. Natural light delight

• Natural light is free
• Don’t close curtains too early; make use of the natural light for as long as possible.
• If you are reading try to read in natural light
• Try lighting some candles in the evenings. Not only does it save on electricity costs, it also makes the atmosphere much more relaxing.

      3. Turn off the light, turn off the light

• When you leave the room, turn off the light
• We said it twice because it is such a simple way of saving electricity

      4. One bulb or two? Or four?

• Try to use a single bulb light fitting instead of a multi-bulb one.
• It will be cheaper and greener to run one bulb than four

      5. Standby for higher energy bills

• Don’t leave appliances on standby
• Turn them off at the unit or at the wall
• Appliances use a substantial amount of energy on standby
• If accessible, turn your microwave off at the wall when you are not using it as the clock uses electricity
• Don’t forget your computer and peripherals such as printers, monitors etc.
• Turn chargers off at the wall. Anything that uses a transformer (a larger plug that tends to get warm when in use) will use energy when not in use and plugged in.
• According to energywatch, the average household could save £37 a year by turning things off instead of leaving them on standby

      6. Sleepy savings

• Most new televisions now come equipped with a sleep timer.
• If you know you have a habit of falling asleep with the TV on, set the sleep timer and the TV will turn off to standby
• This is still not as good as turning it off at the unit but is better than it being on all night.

      7. Savings to make you spin

• Reduce your washing machine cycle temperature from 60°C to 40°C
• This can save a third of the electricity
• Modern detergents will work just as well at this lower temperature
• Make sure you wash a full load if you can. If you can’t, use a half load or economy cycle
• Don’t hang clothes to dry on radiators
• Hang clothes up on a clothes horse instead of using a tumble dryer
• If you need to use a tumble dryer, wring out or spin dry your clothes before starting them to dry

      8. Grade ‘A’ Tip

• Buy electrical appliances with a Grade A Energy Efficiency Logo
• This grade of appliance is the most efficient
• Shop around to find the best deals on energy efficient products

      9. Fridges and cookers don’t mix

• Don’t put your fridge next to your cooker (or radiator) as it will lead to an increase in energy consumption

      10. Wrap up warm

• Make sure your house is properly insulated so you can have your heating on less
• Those claiming benefits and the elderly can get an allowance to help with this.
• Make sure you keep yourself warm by wearing lots of layers
• If the house gets too hot, turn the heating down instead of opening a window
• Don’t forget to wrap up your hot water tank too. An insulating jacket only costs a few pounds but could save you about £20 a year.

      11. Is there anyone at home?

• Work out the times when you are going to be in and therefore need the heating on
• Be realistic enough to be warm but if you are cold, don’t forget to try putting on a jumper first.
• If you’re going away on that winter holiday, leave the thermostat on a low setting to give protection from freezing at minimal cost.