Expert and much-loved money guru Martin Lewis has revealed an easy way to calculate just how much the cost of your appliances are.
It comes amid the cost of living crisis which has seen the likes of petrol, shopping and energy bills are soar with many keen to save as many pennies as possible.
Because of this, the guru has now told people who want to calculate how much their energy is costing them that you can do so in just a few steps.
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Taking to Twitter he said: “How to calculate energy cost of an appliance:
“1. Find its wattage
“2. Know 1000W is a Kilowatt (kW)
“3. You pay roughly 34p per kW per hour
“So 100W (a tenth of a kW) appliance on for two hours is 3.4p an hour x 2 = 6.8p.”
In response to his tweet however, one user replied: "This isn't true for eg an oven or a fridge or dishwasher, because they only operate at max wattage for short periods" to which Martin replied: "I know, but this is a rule of thumb in a simple tweet, which is a good start point. It gives an indication and is most useful when you're talking about 'how much will it cost to switch X on' rather than appliances that are constantly on. :)"
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The Money Saving Expert founder also took to social media to share advice on the best time to use high energy appliances.
These appliances include the likes of a washing machine or tumble dryer comes as the National Grid warned that there could be three hour power cuts planned in the worst case scenario this winter. Although at present, this is "unlikely".
Washing machines, dishwashers and tumble dryers are examples of high energy appliances and make up 14 per cent of a typical energy bill, according to the Energy Saving Trust.
On his Good Morning Britain appearance this morning, Mr Lewis offered his thoughts on reports the Government had ruled out running an energy-saving campaign.
He said: “The idea of an information campaign is not that it is a pull campaign that has to bring people in.
“We need a push campaign that goes out and reaches people with the messages.
“There are many questions I get all, like should I have the heating on all day, should you only turn it on when you need.
“It is a really interesting debate, in short only have it on when you need though there are some circumstances to have it on all day.
“There are lots of things that we could be doing. I’ve made a living out of the fact lots of people don’t have this information and don’t find it easy to get to.
“We absolutely, when we are in a position where there is a risk to energy security, which is a posh way of saying that there might have to be blackouts this winter, to not be going out there and saying here are some simple things you can do to cut your energy usage that are beneficial to your pocket, to the environment and to society, I struggle to see that as paternalistic.”
Government support is available to help people pay their energy bills.
Households will start receiving money off their energy bills from October, with the discount made in six instalments.
A discount of £66 will be applied to energy bills in October and November, rising to £67 each month from December through to March 2023.
Further Government support includes a £650 one-off cost-of-living payment for around eight million households on means-tested benefits.
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