On 1 July 2023 a new energy price cap comes into play, which will see the unit cost of electricity reduce from 34p to 30p per kilowatt hour. This will bring the price cap for an annual gas and electricity bill down to £2,074.
Although energy rates are expected to remain high for the remainder of the decade, the lowering of the price cap does mean that the overall cost of running the appliances in your home will be slightly less from July – welcome news for homeowners and bill payers.
Nick Small, appliances expert at AO.com shares more info on what this change means for the running of everyday household appliances, along with some top tips for consumers wanting to save money on their energy bills: “The new energy price cap offers a bit of good news for homeowners and billpayers, with the typical household gas and electricity bill being capped at £2,074 per year.
“This means that the standard electricity charge will be 30p an hour, down from 34p, so based on those numbers it’ll be cheaper for everyone to run their household appliances.
“We’d recommend that everyone takes an updated meter reading on July 1 to ensure energy companies have your most recent figures.
“We’ve also crunched the numbers to share what the new energy price cap means when looking at the cost of running your appliances, based on their average energy consumption:
Appliance |
Cost per hour - |
Cost per 10 mins - JULY |
Cost per hour – BEFORE JULY |
Cost per 10 mins – BEFORE JULY |
Washing machine |
63p |
71p |
||
Microwave |
27p |
4p |
31p |
5p |
Electric oven |
45p |
51p |
||
Airfryer |
39p |
6p |
44p |
7p |
Fridge freezer |
9p |
11p |
||
Vacuum cleaner |
27p |
4p |
30p |
5p |
Plasma TV |
10p |
12p |
“In the long run, the new price cap will bring overall running costs down. For example, if you use your washing machine on a three hour cycle four times per week, at the current rate that would cost around £34 a month. From July 1st 2023, that comes down to £30.08, meaning you could save around £3.84 a week, £15 a month and almost £50 a year just on your washing machine usage.
“We’re also sharing our best energy saving tips to help you save money on your energy bills:
1. Make sure you’re using your appliances properly
“It may seem obvious, but simple things like loading the dishwasher correctly and keeping your fridge freezer clean are all small steps you can make towards ensuring your appliances are running as efficiently as possible.
“With the dishwasher, make sure it is filled to capacity before putting it on and sometimes running it at off-peak times (such as overnight) will help keep costs down.
“When it comes to your fridge freezer, it’s important not to over fill it and clear off any ice that’s more than a quarter of an inch thick. Excess ice in your freezer will mean it’s working extra hard to keep your food cold.
2. Cook more, less
“Batch cooking is not only more cost-effective, it will also save you time! According to our calculations, with the new energy charge it’ll cost around 45p an hour to use your oven from 1 July, compared to 51p an hour right now.
“We’d suggest batch cooking your meals and then reheating them in an appliance that uses less energy, such as a microwave or airfryer.
“Appliance that use smaller amounts of energy for less time is a quick way to get costs down without compromising on food quality.
“With the airfryer costing around 39p an hour to run and a microwave 27p, they are quite a bit cheaper than running an oven so do try and opt for these appliances if and when you can.”
3. Avoid leaving your appliances on standby
“The Energy Saving Trust calculates that the average UK household spends £65 a year on appliances left on standby.
“Turning them off at the plug is a good way of keeping costs down when certain appliances such as kettles, toasters or slow cookers aren’t in use.
4. Wash your clothes at a colder temperature
“Most washing machines have the option for you to wash your clothes at 30 degrees. Data shows that washing on a colder setting could reduce running costs by as much as 57% when compared to washing at 40 degrees.
“For clothes that aren’t overly stained, a 30-degree wash is sufficient and will help you save money.
5. Understand the energy rating when investing in new appliances
“Nowadays, appliances have an energy label to make it easier for shoppers to compare energy efficiency.
“The efficiency is measured on a scale from A to G according to how much energy is used during a typical use. This will differ from appliance to appliance, depending on its size but it’s worth being familiar with how the energy rating is calculated to ensure you make smart purchasing decisions."
To help customers choose the right product for them, AO has a handy onsite energy saving tool called Youreko which shows customers exactly how much money can be saved if they were to choose a more energy efficient appliance.
